Thursday, November 16, 2006

Actually I need to buy the downside:

OK, having just paid 1400 for SP500, I can't take it. I have to be short in size. I just bought January 1350 PUT for 7.89 points in £100 a point.
I can't believe how cheap options are. For 3.5% out of the money, I can buy a Put for about 1% of the notional value. Crazy stuff. Bring on the meltdown.
And Year to Date P+L is up £13,500 as of just now.


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