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Strategies & Market Trends : Options
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To: PAL who wrote (6073)4/6/2000 7:46:00 AM
From: Poet  Read Replies (2) of 8096
 
Hi PAL,

Thank you for that example of short put repair. What you did, to rephrase, was buy back and then immediately re-sell more OTM and further out. It looks like the pivot point is the degree OTM you're willing to go. The only thing that makes me hesitate is tacking on another two months to the trade, as the longer time means a much slower theta.

I've tried to repair short put positions by rejiggering them within the front month, but I'm interested in this approach. Thanks so much for sharing it.
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