LULU – 09/08/2016

This was a credit put spread I placed based on both technicals and the fact that LULU has shown strength over this some time period in past years. I really felt this was a pretty good quality set up when I took it. I made one big error by not really having an exit plan in place when I entered the trade. I let it get away from me a little, I probably should have either taken a smaller loss before this or adjusted.

The main reason I chose not to attempt an adjustment was because I could not really see where I thought this stock would be going. Any attempted adjustment would be a guess. I knew I had better trades out there so decided not to try and fight this one just for the sake of attempting to save it.

Date	Sym	Action	Exp	Strike	Price	Cont	Type	Cost	Balance
09/08/16	LULU	STO	OCT16	$62.50	$.85	5	Put	$425.00	$425.00
09/08/16	LULU	BTO	OCT16	$60.00	-$0.47	5	Put	-$235.00	$190.00
09/30/16	LULU	STC	OCT16	$60.00	$1.19	5	Put	$595.00	$785.00
09/30/16	LULU	BTC	OCT16	$62.50	-$2.52	5	Put	-$1,260.00	-$475.00
								Loss:	-$475.00