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  1. Phil

    At this stage of a rally, it's good to take about 25-30% of each day's gains and put them into downside hedges.  

    In the Income Portfolio, we have 50 TZA July $13 calls, now .82 and we want to sell 100 of the July $14 calls at .68 and roll down our calls to the July $10s at $1.65 and add 50 more so, on the whole, we're spending $13,100 to reposition our 50 out of the money $13 calls with 100 in the money (by .72) $4 spreads for $40,000 of downside protection – essentially protecting half our gains.  

    This also gives us a line now (over 900) from which we can begin adding another round of bullish plays because we're slightly over-protected for a dip.  Notice that we do this only using money we've already won (over $100K in profits now) and we are now well protected for another 6 months.  



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@bySamRo Hell NO, Sam Ro! It’s all relative, isn’t it? Tell BAML they’re full of shit. pic.twitter.com/WFtsM3Siur

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This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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