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Bought a little protection yesterday before the close

So I bought a little protection in the form of SPY puts yesterday for two reasons. One is I am all long on all of my positions so I want a little downside protections, but also because Volatility is becoming very low again so the options are cheap.

I bought 3 Mar '10 2010 $107 put options for 0.63 a piece. I did this purchase from my phone and I thought I was buying the regular put, but I guess I bought the Quarterly option. The only difference between the regular put and the quarterly is that the quarterly option expires on the last day of the month and therefore is a little more expensive, but not by much. I actually like the fact that I picked up an extra 12 days of time.

To read more on the Quarterly options click here

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