<p>Razorsharp, what happens if you are already long coming into the day?</p>
<p>So you add to your position on the down leg?</p>
<p>Got out of the call spread but still in the put spread. I ended up having to sell the 625 call separately from buying back the 765 call.</p>
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<p>This is a pretty big drop.</p>
<p>I didn’t know he was long. </p>
<p>The plan I am assuming is to liquidate the positions with as little loss as possible, not to add to the positions.</p>
<p>GOOG has traded as high as $706.70. That would have triggered one leg. Now it is trading at $686 so the other leg would have been triggered for break even.</p>
<p>Why would that, 706.70, trigger a leg?</p>
<p>Stock closed 702.</p>
<p>I guess looking at it now my keeping the put spread and unloading Google at around 700 is looking prettygood.</p>
<p>So…no more position in goog after today?</p>
<p>That put spread saved you a lot of money.</p>
<p>I thought GOOG closed last night a little below $700. I was working with that figure.</p>
<p>You have to use the after the market close number, don’t you? At least in a stock after earnings? Otherwise, the numbers get very iffy. </p>
<p>I guess you don’t have to…it is your trade.</p>
<p>I sold 50 aig nov 34 puts. Yesterday. That was very bad timing. :)</p>
<p>Are you saying you are naked on AIG puts or did you buy puts and then sold them yesterday?</p>
<p>I have been naked on AIG Nov 30 puts for several months. Sold naked at 2.75 and now about .03 cents. I like AIG long term. I am thinking of going naked more puts maybe the Jan 13.</p>
<p>"So…no more position in goog after today?</p>
<p>That put spread saved you a lot of money. "</p>
<p>correct. I also have a long 630 short 605 put spread in aapl that closes out today. I’m tempted to buy back aapl but I’ll wait until after earnings. As Jesse Livermore said: “One of the hardest things to do is to do nothing.”</p>
<p>I am just short the puts naked. Never bought them. Your trade is better than mine. Much better prices and much better strike price. I like AIG also. I have oct aig puts expiring today. I think they are going to expire worthless. :)</p>
<p>Doct, you just have the put spread left in aapl?</p>
<p>Bought in some fb puts…some are going to expire worthless.</p>
<p>yes - that’s it, I sold the call spread yesterday morning for a slight profit</p>
<p>Nice…</p>
<p>If you don’t do anything you might end up short the shares.</p>
<p>I’m not certain what you mean</p>
<p>What are you going to do with this put spread?</p>
<p>let it expire</p>
<p>It expires in an hour?</p>
<p>What is your position going to be Monday morning if you let the spread expire?</p>
<p>Do you want to be short the shares naked? If aapl closes Between 630 and 605, your long puts becomes short stock and your short puts expire. </p>
<p>So you end up short aapl stock. If that is what you want, that’s great. You are going to have to put up 50% of the value of your aapl position for margin. 500 shares is a little over $150,000 In margin requirements.</p>
<p>If you know all this, you can ignore this post. I got the idea you thought you were going to be flat aapl after expiration. Not necessarily. Depends where the stock is.</p>
<p>I am leaving in a few minutes.</p>