We’ll book a $266 loss in order to get this trade — long two October 101 puts @1.33 — out of our face. It was a pipe dream to think the broad averages might actually fall far enough to turn 101-strike October puts into winners, but at least we didn’t jump on the erstwhile opportunity when the puts were trading above 5.00, as they did in late July. There’s still a bid for the puts, so I’ll record an actual trading loss of $218. That’s assuming we blow them out for 0.24 apiece.
