Closed EEM Position

I originally opened my in-the-money EEM naked put position based on EEM touching its trend line of higher lows.  Since that’s how I started the position I only thought it wise to exit my position now that EEM is touching its trend line of higher highs (see the EEM Chart I posted this morning).  While EEM was trading at $43.12 I bought to close my one EEM January 42 naked put (EEMMP) for $0.34 and paid $34.00 (no commission to close).  That gave me a realized gain of $146.55. 

EEM has been on a solid run since I originally sold this naked put and I think it’ll come down a little from here and with only $34 left to gain by waiting for expiration I didn’t think the risk of a dip in EEM was worth the few dollars more I could’ve possibly made.  I don’t expect to stay out of EEM for too long.  I still need some international exposure and if EEM keeps following this trading channel I figure I should keep it in view.

Aside from getting out while I could, the logic on this position was very simple - enter on trend line of higher lows and exit on trend line of higher highs.