» I had to sell some of my XLF puts Blog Archive

On a move like this, you just have to take your short position down. You’d be a fool not to at least trim some of it. I dumped a XLF June 29 put this morning. I’ve been burned too many times by not trimming my short position when it was time to do so. Many times, you don’t have time to get out of a short position before it’s too late. Stuff can gap up on you like XLF did on March 18th.