No. of Recommendations: 5
I believe you'd want to wait for 1) a relatively calm market day, and 2) where IWM is in the green that day.
Sounds good.
I wonder when we'll see a calm day again? : )
I got a terrible entry on mine, but I was switching from different puts and I got good prices for those, so I tell myself (without much concrete evidence yet) that the two cancelled out.
I may write some offsetting index puts on the next "hard down" day. e.g., if I think the market is going to drop 35%, I don't need protection below that level, and writing a put that far down will get me some premium to offset the cost of the higher strike puts I bought. This sounds risky...but isn't provided you're always long at least as many of the higher strike ones!
Jim
