RE: vraimant, well I'm having a blastGreat conditions and volatility are allowing both of us to achieve success. To capitalize on the volatility, I am now alternately buying and flipping Puts and Calls to pay for the prematurity of my short. LOL...don't rub it in!
The Aug 120 puts which I bought yesterday for $3.95 sold today for $6.40 My biggest mistake is playing too cautiously under these ideal conditions and not buying more Puts to really capitalize on the volatility. I didn't buy calls today on the dip because I think further downside is on the way. If she hits $120. as you hope, you can count on me buying plenty of Puts for short term action as I await for the short to bear fruit.
Good luck