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Tuesday, March 12, 2013

Gold March Put Option

2/19/2013

sell to open 1 March 2013 $153 put option at $1.27


3/12/2013

buy to close my GLD put option at $0.41

Net gain:  $84.45

Initial investment amount:  ZERO!!!!

ADDENDUM:

GLD closed at $154 on 3/15/2013 (expiration Friday), so my put option would have been fine.  However, I like to be disciplined and close out short put options if they have dipped "in the money" during the life of the option.



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