HJQPF BOT to Close 2 Limit $1.00 Executed $1.00
Put First Solar Inc$260 Exp 04/19/08
HJQPY SLD to Open 2 Limit $6.20 Executed $6.20
Put Google Inc Class A $410 Exp 04/19/08
GOPPB SLD to Open 1 Limit $2.70 Executed $2.70
Minimizing my loss while still in the trade:
Today I sold some Puts against my current long put position, to minimize the loss, in case the stocks (GOOG, FSLR) moves further up.
Both of the stocks has been zig-zagging for the last few days.
This morning GOOG was down -$9 (which was good for me) but then later (in the day) it started to move higher again.
I reacted to the situation by selling (higher strike)--- puts against my long position. (hoping in case the stock moves up, it will not hurt as much as being long only).
The strategy worked (somewhat) for FSLR. Yesterday I sold some puts and covered them this morning for a gain. Hence I thought of repeating the same for GOOG today.
Against my GOOG position, sold higher strike puts and will cover them in the morning in case GOOG moves higher (thus protecting me from a complete loss).
I expect to keep selling puts vs my position, until GOOG takes a nose dive, at which point, I (I hope) won't be short.