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  • Phil's DXD Hedge and Warning to Members 1 comment
    Aug 11, 2010 4:53 PM | about stocks: DXD, DIA
    PhilAugust 11th, 2010 at 10:58 am |

    Nice little dollar bounce led by some massive Yen dumping.  Only made it to 85.4 Yen before being rejected. 

    Looking at TRIN (4.27) - if anything it looks like we’re ready to fall a lot further, so be very careful!  If you don’t have good disaster hedges, I like the DXD $26/28 bull call spread at .70, selling the $26 puts for .40 for net .30 on the $2 spread that’s .67 in the money now.  Stop above 10,450 makes for an easy out but the spreads will be painful.


    Phil - August 11th, 2010 at 12:46 pm |

    Here comes 10,380 finally along with S&P at 1,090 and Nas 2,200 - If we can’t hold these then look out below!
     



    Disclosure: Positions as indicated but subject to change
    Themes: Option Strategies, Hedging Stocks: DXD, DIA
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  • Hi Phil, just want to say thanks for all your articles. I am not a member yet. Your insight has opened up a whole new side of insurance which i was lacking. I hope to join soon.

    Declan
    12 Aug 2010, 09:40 AM Reply Like
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