I am unloading the May QQQQ puts (expiry Friday) at $2.85; I am still long the June 125s and September 120 SPY puts. I am also buying some QQQQs for a trade.
The Markets is a bit oversold, these are up nicely, and I don't wish to be a pig.
Given that the VIX calls are trading at a discount to how much they are in the money, I am compelled to hold onto them. You may wish to take the VIX options off the table, but I like having the hedge against any further dislocation.
As always, your mileage may vary.
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Got the makings of an explosive push up here a few days this week. Let's see if the bulls can do it.
Posted by: B | May 15, 2006 11:23:17 AM
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