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Friday, November 7, 2014

IWM Put Options

3/5/2014 (RD)

sell (to open) 2 April 2014 $118 puts at $2.36

IWM was trading between $119.47 and $119.96 on 3/5/2014.

IWM dropped after I sold (to open) my puts, so I had to roll them FIVE times!  I was finally able to close the position on 11/7/2014 with a $769.58 profit on 11/7/2014.

The lesson:
Selling (to open) put options gave me a profit of $769.58.  If I had bought 200 shares of IWM instead on 3/5/2014, I would still be sitting on a loss of approximately $600 on 11/7/2014.  Selling put options is better than buying long a stock/ETF.

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