I'm out of my short put on ABB to lighten my long positions in my portfolio. This position is definitely one of the higher risk because of the leverage in options. I shorted these puts at \$1.20 two weeks ago. This represent a profit of \$120 - \$15 for commission.
ABB tested the 40 day MA on pretty low volume. It is hanging around the \$13 mark today. However, the market looks weak as we're testing the 850 resistance again on the S&P500 as we speak. So I'm unloading this first because if it breaks down, ABB could dive fast.
[caption id="attachment_1086" align="aligncenter" width="500" caption="ABB Ltd."][/caption]