While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
KMI finally broke down today. And it could not have come at a better time, considering our options position expires today.
It seems that KMI was the only stock not moving during this recent sell off.
This morning, that has changed and it will give us an opportunity to close out the position.
My suggestion today is to Sell to Close the November 23rd - $17 puts for $0.50.
Based on the suggested unit size going into this trade, it will allow you to recoup the cost of the trade.
