No mate, when the sp hit $93 I cashed out my puts - as alerted before the sp hit those lows.
Had a good run with Jan, Feb, Mar and May options on CBA. Positioned for CBA dropping for July and Sep expiries and I've definitely torn up my cash on July expiries.
That's trading; you win some, you lose some.
US banks are in rally mode - even the ones missing on earnings - so momentum is long.
The hundreds of billions in unrealised losses and the hundreds of billions (more) in provisions for credit losses does not paint a great picture for what's to come but it's all about timing.
Got my timing wrong for July. No point crying about it, just move on and see what other opportunities present themselves.
CBA Price at posting:
$104.65 Sentiment: None Disclosure: Not Held
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