This week I have closed the short put options at 2,750 points that will expire end of October. Now, there is only 2 October long put options at 2,950 that are almost worthless for my December strategy. The premium is already very low and I wanted to reduce risk on the downside a bit.
At the moment it looks like we will keep on moving higher -- but as usual -- things can change from one day to another.
That is why I will keep the ball low and make sure to reduce risks as fast as possible.
Currently my break even points are around 2,900 and 3,400 points in EuroStoxx 50. So looking at a price of 3,200 at the moment, we are pretty comfortably situated in the range!
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