4/5/2013
sell 10 IWM May 2013 $81 put options at $0.22
probability of expiring in-the-money: 7.80%
5/9/2013 (with 2 seconds remaining)
buy to close at $0.01.
Net gain: $210 (on $8000 collateral, 4 weeks)
Something to think about.....if you had $8000 in a savings account, will you earn $210 in interest in 4 weeks? No.
Buy-to-close......this was a tough decision. With only 6 more trading days until expiration, I could have left it alone and let it expire, but I try very hard to be disciplined and close my profitable positions.
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