Friday 20 March 2009

Idiot!

Had I not messed with any of my positions I would have been fine-short at 3700 and 3800-perhaps ignorance is bliss-but I knew it was quad witching and expected the market to smash up again today-looks like thursday was action day.
Back to the drawing board and no 'investing in myself' for a while!
Actually PIN risk is unknowable, and in the past I have avoided it- closing out for a few pennies the short options that stood the remotest chance of being hit. I do however have a specific strategy for expiry week-and on that basis had sold the 3700 puts- the 3800 calls were just outside the comfort zone.
We live to fight another day.

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