Iron ore price, page-53117

Fortunately, I don't really have to make such decisions, I just keep moving an option strategy lower and lower until I hit bottom (hopefully).

I moved those calls down to $21 today so hopefully I don't have much to do tomorrow (I am sick of "adjustments" now).

But I do see a bright light in the horizon simply because things have gotten so bad, but the IO price is still quite good. The fact that things are so bad means there is latent demand and if there is that latent demand (rather than things being cooked) and when the IO price is already quite good in that case, in my eyes, it implies an upside bias.