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November 21st, 2013 at 2:29 pm
Phil / TZA – I bought 400 TZA @ $21.97; sold 4 contracts TZA Jan14 $26 Puts @ $1.80, now $0.30 and sold 4 contracts TNA Jan14 calls @ $1.80 now $0.34. I want to keep the TZA shares for the expected market drop, but believe it is time to re-position the puts and calls and would appreciate a strategy outline from you. I also would like to keep to TZA, TNA for the moment as I have a learning goal with these. Thanks in advance.