Given the market shock of the Brexit vote, however, I shall do a quick review of my positions this morning. With the U.K. leaving the European Union, do I need to leave any of my positions to avoid further loss?
I hold seven positions Here's how they're faring on the first day of the Brexit Era, about half an hour after the U.S. markets opened.
Volatility plays (options):
- EFA: Price $54.87, within the profit zone of $61-$52.
- FXE: $108.25, profit zone $112-$107
- GDXJ: $41.48, profit zone $33-$43
- TLT: $135.35, profit zone $128-$143
All remain with their profit zones are poised to continue to benefit from time decay as they approach expiration.
Dividend plays (shares)
- NRZ: $13.45, 5.5% above entry price
- STWD: $20.66, 5.1% above entry price
Zombie time spread (options):
- UNG: $7.98, which $1 above the yesterday's opening price. (The options have been unprofit for quite some time; that's why the position is a zombie, a long leg without a short leg.)
My positions have proven to be robust int he facd of the storm, and under present circumstances I plan to take no action today as a result of the vote for the U.K. to leave the EU
-- Tim Bovee, Portland, Oregon, June 24, 2016
Tradecraft: Playing the odds to build winning stock market trades from options, a description of how I trade, can be read here.
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