Sweet, thanks for the explanation. I think the bear call spread is a nice trade right now, but looking at today, still full throttle ahead. I think the trade will eventually work out, inverse H&S aren't always 100% precise. I think the target area is 48-50 before it falls back down. I don't see 52.50 calls trading yet, but 47.50/50 is also a nice trade.
As you said that its sometimes makes sense to allow the trade to get called out. I thought initially why not let it all the time since we only have a buck and change to make up, but then I realized that you would re-buy the stock higher that what you originally did therefore you would have a loss with your put you still have. There really is no free money in the market huh?
Do you usually buy puts as you did to protect yourself with a lot of your trades? It seems like $1 and change for 8 months of protection is pretty to good to know when you go to sleep, right? I means suppose someone is buying equities for their IRA or whatever.
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