Great play. I sold some investments Thursday for a purchase on Friday but the money did not settle in time. Still on the sidelines.

I knew somebody was going to bump this thread. I'm sick to my stomach, I sold at around noon on Friday. I made like $150 verse about $1000.

Don't worry about it...it's never safe to hold through the weekend.

You made money, be happy. You were disciplined and didn't hold over a weekend. Good trade.

Damn what could have been! I put $10k in my etrade account last Wednesday specifically for this. I was hoping it was going to go a little lower and put all $10k in and wait a week or so. Ugh I've been watching this everyday for a month and almost timed it perfectly.

put some in yesterday at 3.15

Currently at 3.48

Holding for at least one more day.

Sold at 3.87 for a 19.5% 2-day profit.

Now for the pullback.

Warning: This topic is a bit more advanced:

So, I am well aware of the decay effect, and have personally learned from it. My question for the esteemed board is:

What about the strategy of buying put options on the underlying triple-leveraged play you are bearish on? I have actually done this (currently have puts on TNA, as a hedge), but just doing it as a short-term thing. In theory, if the decay occurs, your puts should profit more than an investment in the corresponding inverse index. I understand that arbitrageurs would be all over this (and probably are already) if it were a no brainer, but I think it has some merit, if decay is a big concern. Once again, I only use this for short-term hedging, not as a real speculative play.

My assumption is that the magic hand of the market ensures the puts are priced to take this effect into account, and I'm really no better off. But, I would like to hear thoughts on this.