The PSFI Index also accounts for the unrealized loss on the SLV puts.I had a chance to exit my STD position at near-breakeven, but in my reticence to accept a loss, I made it much worse. Greece will default/restructure, but the can has been kicked for now.
Sold STD Sept. '11 Puts, strike @ $10, for .3 - total loss of 58%.
Luckily, I did not have all my eggs in one basket. But I do now. As the summer goes on, I think U.S. economic activity will pick back up while the rest of the world slows down a little from all the tightening their CB's are doing. Oil price levels are going to hurt the economy and Obama's chances of re-election, and he knows it; hence the release of oil from the SPR to attempt to reduce oil prices [failure]. Add that to inflation and core likely to remain elevated/increase, and I think the Fed will change something to signal tightening - if not end the reinvestment program - at the next FOMC meeting.
Averaging the price paid for my SLV Oct. '11 Puts, strike $23 is at .5
Sold STD Sept. '11 Puts, strike @ $10, for .3 - total loss of 58%.
Luckily, I did not have all my eggs in one basket. But I do now. As the summer goes on, I think U.S. economic activity will pick back up while the rest of the world slows down a little from all the tightening their CB's are doing. Oil price levels are going to hurt the economy and Obama's chances of re-election, and he knows it; hence the release of oil from the SPR to attempt to reduce oil prices [failure]. Add that to inflation and core likely to remain elevated/increase, and I think the Fed will change something to signal tightening - if not end the reinvestment program - at the next FOMC meeting.
Averaging the price paid for my SLV Oct. '11 Puts, strike $23 is at .5
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