Weekly Recap: 3/02/09 - 3/06/09

Weekly Range:

• Open 109.90


• High 112.47


• Low 104.37


• Close 106.47


• % Change from last week close -4.68%
  

MNX closed down roughly the same percentage as last week, but still managed to hold above the November intra day low of 101.89. The VXN still is having problems getting out of the upper 40's, pointing to complacency in the market and possibly another week of a slow bleeding to come. The short March 84 strikes are still 21% otm with 12 days remaining until expiration - there are also 40 days until April expiration, so I am starting to look at selling April strikes.