Trade Update

The market has moved down again, toward my position. I expected this as the market always moves up and down. I also placed the trade on an upward spike. So when we examine the numbers today, we see that everything has changed, again. This is a perfect example of day to day changes and how your account is affected by price fluctuations in the S&P 500.

Entered Trade

	Price	Cost
Sell -1 (SPU1900P)	0.70	($175.00)

Requirements

Total Cost	($175.00)
Initial Requirement	$1,022.50
Maintenance Requirement	$818.00
Total Requirements	$1,022.50
Estimated Commission	$12.99

What does this tell us? First of all, nobody can ever tell when a spike, on the way up, will stop. Or, if it is on the way down, how far down it will go. We really don't care how far up it goes but we DO care how far down it goes. I don't think we will hit a double dip recession before September 16th (option expiration) but anything is possible. If I was getting cold feet at this point, it would cost me $175.00 to buy this option back PLUS the commission fee. BUT, my feet are still warm and toasty.

When I "FEEL" that this downward trend is done, I will begin searching for another option to sell. See ya in the pits!