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Forum - Writing Options (Direxion Shares ETF Trust Small Cap Bull 3x - TNA)    For those interested in writing calls, puts, and spreads

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From: Stocktrader86 (Rep: 18) reply to Bender24Date: 02/22/2013 10:41
Forum: Writing Options - Msg #964 - List TNA msgs Thread #673504039 (Rec: 0)
Re: Wrote Mar 62 puts @ .55

thoughts on sequester?

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Reply to Bender24 - Msg #963 - 02/21/2013 20:57

Re: Wrote Mar 62 puts @ .55

Yeah, I had been playing with fire writing TNA and FAS at high levels. It caught up to me. I was thinking of possibly writing some bear call spreads, but I decided to roll my shorted puts down further OTM and to next week. But I'm going to be treading carefully with sequestration looming. Any sign of continued weakness and I might have to close and roll again, or sit it out for a bit.

Even if these cuts don't effect on the economy that much(some say it will, some say it won't), the market will react badly to it. If they come in at the final hour and make an agreement, then we'll see a short term run up. Funny how there's always some sort of crisis going on, such as fiscal cliff, debt ceiling, and now this...I'm sure they'll keep it going, lol.

Best of luck.
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