I was away for lunch and got stopped out of my RIMM put! I wish I had been there, I would have switched sides in a second…
So, good news for them I guess. Hopefully the stock will run up nicely into their upcoming earnings so I can short that.
SIRI is having a heck of a day, stay the course.
Oops, I guess today was the day to short PNRA!
Oil totally collapsed, it was all speculation and short covering!
GE is buying back stock, killing my puts there.
The INTCs were a great trade, the $25s went to .80 and I halfed out with the rest in for a free ride for next week.
If you made the RIMM spread trade and are worried:
Sell the RIMM January $72.50 put for $11.10, a $1 profit
Buy the RIMM January $70 put for $9.40, a $1 loss
See how that works – even when you are very wrong it doesn’t hurt much! I don’t think the stock will really break $70 but since I am less certain I will find better uses for the money.
GLW gave us a good entry and then gave us a nice 1% so far!
I just bought back the LLY $55 calls for .20 so I’m up .80 there and down (on paper) .30 on the April 50 (this is why we prefer the long calls on volatile trades). I could liquidate now for a 10% profit but I’m going to hold until $53 where I think it will commence going up. The smarter play is to get out with the profit though…
If you think gold looks expensive to you, try paying 64,000 yen for an ounce! That’s up from about 45,000 yen in July! I may have been a day ahead but I really have my finger on the sell trigger on this one.
