Well Puts

I closed out my short put position on JASO Friday before close at a small profit. I was short the March 6.00 strike puts. They were still out of the money and we are only a week before expiration but these solar stocks can move fast and I’m not taking any chances. This could easily get to 5 next week – especially with the market in short-term correction mode. No reason to be long or even have a neutral bias at this point.

The solar stocks have been hit hard these last couple weeks. ENER is down over 25% this week.

JASO Daily Chart