Site Meter The Lawyer Trader: Current Trade: Short MON via Puts

Tuesday, May 4, 2010

Current Trade: Short MON via Puts

I've been short MON for about a week now. I purchased some Jun 10 puts with a $60.00 strike price. This position is up substantially in my swing trade account...although it hasn't broken the $60 barrier yet. Here's a chart:I'm not anticipating pulling the trigger and taking profits anytime soon with this trade (as in the next week or 2), but it is nice to see it going in the right direction. One scenario that could take place would be for the market to really sell off hard, harder than it is right now, and see MON tank down to $55. If this happens, which it could, I'll be ready to take profits quickly. This is probably the best trade that I have on right now. I still like gold but it's taking a little dip with the market...the dollar is probably the main driver affecting both of those.

Hope everyone's off to a good start this week.

TLT

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