Ebay, it was nice knowing you.

by Ryan Barr on November 2, 2009

in Papermoney

Well, it looks like my stop on Ebay was tagged during the trading day today.  Ebay ended the day up, however during the day it dropped just far enough to tag the top and cause me to quickly exit the position.

My short calls are November 25′s, EBay is trading at $22.38 and I’m fairly bearish right now. I’m going to keep the calls as Theta burn is going to kick in hard core here and hopefully ditch them for $0.05 in the next week or so.

I’ll start hunting for some new positions in the next few days as this recent stop sweep has freed up some capital.

With the addition of my CLI shorts the other day, I’m now negative delta (-107.52) (beta weighted to SPY) so that should help out after we run up again early in the week.

I’ll update the papermoney portfolio in a bit, I’ve got to finish watching the game and then go to bed!

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