I have decided to close the short put position in TZA. In addition to this, I no longer plan to utilize any short etf strategies in my covered call portfolio. If I feel that the market is in the mood for a drop, I will simply sell deeper ITM options. The profit/loss info is below:
12/8/2009 -- Sold To Open 1 TZA January $10 Put @ 0.4824
12/29/2009 -- Bought To Close 1 TZA January $10 Put @ 0.9075
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Cost Basis: N/A
Potential Gain If Not Assigned At Expiration: -4.47%
Potential Annualized Gain If Not Assigned At Expiration: -81.51%
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