Dr. Joe. I thought you would jump on this one.
RFH
--- In ConservativeOptionS
>
> I am currently holding 14 XLE Jan12 80 puts at a cost basis of 24.35. They are currently trading at 22.23. In March I sold 10 at the money Apr 57 puts at 1.47 for an income of $1,550. They expired worthless on Friday. So I'm down around $3K on the leaps and up $1.5K on the income side. I know there was some discussion on how to handle the opposite DLS strategy and was hoping somebody could point me to the topic on this board so I can research it. At what point should I purchase more leaps? Am I selling enough near month puts to make this strategy work? Thanks.
>
> RFH
>
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