Wow, what a whitewash, not by markets, by Sun.....

Yes, I almost wanted to close all the positions, not both legs but the short call. This is because I know the market will reverse.

I am glad I did not close both legs earlier on. Now my account is about 12% down from August high, compared to 26% down on Thursday afternoon.

Ok, do't be mad, we are listening now. We will behave......

Everyone, please roll to protect! If you do not roll, don't write options.

Hi Etradehome, JK and all options traders,

I know how frustrated and disappointed Sun is. I also called him and asking the same questions whether I should wait until the market stabilises then I reconstruct the short guts. I was told if we construct short guts at lower volatility and as soon as the volatility spikes, we panic again and exit the position. Every time we will be busy taking loss and getting nothing from time decay. That was not the way the system works.

Luckily I did not (although I got an ear full of scolding, sorry, not scolding, advice from my trainer).

Today, when I open my account, the market recovered and my account was back to exactly the recent high in August. Wow, I did not know the repair can be done in ONE day, for those roller-coaster two nightmarish weeks of plunge.

Thanks, I really glad I stick to the rules of options writing, roll down to protect, not close to exit in panic.

Thanks, thanks, thanks!