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February 23rd, 2011 at 8:20 pm
Just want to say thank you! I did some bear call verticals to supplement the short strangles in my portfolios. Got in the RUT Mar 870/880 for an average of $1.2 (avoiding the crowds for the suggested 875/885). Exited half of the positions today at $0.45 (now $0.28), and the rest is set for buy back at $0.2. I didn’t do much of the bull put spreads as the short puts in the short strangles do carry some down side risks already. I wouldn’t play every month, but this month was obvious that the market has to go down at some point. Keep up the good work!