Bought +2 OIH 100 AUG 09 105 PUT @4.60 Mark 103.63

Minutes after exiting my 110 puts, I’m back in now. Oil Services ETF (OIH) broke $104.30 on the upside but failed to hold it for more than a few minutes. This coupled with the fact that the market (i.e. S&P500) broke 980 again and also failed to hold it for more than a few minutes.

Anyway, my previous analysis still holds. However, my position is 2/3 of last time.

Entry: $103.63

Exit: $104.30

Target: $100

Reward / Risk = 3.63 / 0.67 = 5.4

Oil Services ETF

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