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September 16, 2014 at 1:16 pm
#2125
Steven Place
Keymaster
Great trade in GILD– we can exit the trade now for 25% return on risk.
There’s a HUGE lesson here…
We picked up GILD calendars when the implied volatility was in the high 20’s. It’s now in the mid 30’s — so a good part of our gains were from vega.