I rolled out to Sept today on many of the plays. I know it is 1-2 weeks early, but with this much of a correction, I could not pass up the returns. I am waiting for more to be filled.
With this new cash infusion, I am looking at KOL and XLE very seriously. Not sure when the time will come to pull the trigger. But soon. Now things I contemplate about pulling the trigger is not so much getting the low, that is a mute issue since we are doing spreads. I don't however want to get in to have them drop significantly before the continued trend.
What I look for is more of the strike and the months premium. Right now XLE is at a cross roads. 75 is good, but then in order to play this for longer than 5 months, I need to go out farther say 2010 Jan's. I don't like the premiums on that so I am looking at the futures strike price of June Q2. that gives me until the end of June not the 3rd week of June as most regular options trade. That has a more appealing time frame for me.
Just another glimpse of what is looked at to trade from.
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