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Underline stock: SLV
The Reason:
Our June 26.50 short put position is dangerously being “buried”
in-the-money. We decide to close the trade to avoid being assigned the
stock at $26.50 per share.
The Close:
Buy back June 26.50 short put for $570 per contract.
Result:
A net loss of $505 per contract for this trade.
Cheers,
Dennis Phan 潘家墉
07 June 2013
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