Just an update from a previous post – sold 10 Put contracts (55 strike) on XLE during the market meltdown on 8/24/2015 – collected $1,200.00 in premium, hoping to scoop some Energy exposure up on the cheap. No such luck – oil has risen ever since, might have missed my opportunity. Looking to buy these back today for $150.00 – so I can put the money to work on something else.
OK trade – but with the VIX over 40 on that day – I should have collected more premium.
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