During strength in the QQQQ earlier this week I inreased my Dec put position, but my Sept puts were so low priced that I didn't want to pay the commisions to sell them. ( I don't yet have the spread trading facility) This morning I got a shot and got rid of them- still at a loss, but better. Maybe half the loss that it would have been a few days ago.
I see now that the Qs are in positive territory again. There seems to be a lot more strength in these things than I would have predicted.
I just hope I can make a good hunk this fall on the Dec. Last summer I did great on Dec, decided to be careful and sold a lot. I felt terrible about selling as I thought that these puts were my chance to really get into high clover. But I was wrong about that, and my chicken out sell helped my years results.
Over the past few years I have lost on balance with my put buying but at the same time I have always had a hook in the water in case the big hungry bear fish came along.