Well after holding my puts for roughly a week I began to get panicky. I still have not learned to enter a sell order for the exit I want and walk away. So on Feb. 5th (Tuesday) I sold most of my positions at break even prices. The one shining performer was YHOO that I had dumped a few days earlier for a nice profit.
On 1/31/08 I picked up 2 extra positions:
+10 RIMM 90 put @ 3.85 = $3850 + 24.95 = $3874.95
+10 QQQQ 44 put @ .79 = $790 + 24.95 = $814.95
And sold:
-10 YHOO 20 put @ 1.50 =$1500 - 24.95 = $1475.05
(wwweeeeeeeeeeeeeeeeeeeeeeeeeee!!!!!!!!!!!!!!!!!!)
Then on 2/05/08 I exited my 4 remaining positions:
-20 RIMM 90 put @ 4.35 = $8700 - 39.95 = $8660.05
(my combined position was $8249.9 so I profited $410.15 bleh)
-10 QQQQ 44 put @ 1.05 = $1005 - 24.95 = $980.05
-10 QQQQ 44 put @ 1.20 = $1200 - 24.95 = $1175.05
(my combined position was $2039.90 so I profited $115.20 bleh)
So if you are still reading the score on my positional trades read something like:
RIMM +4%
QQQQ +5%
YHOO +47%
As of 10:35 central time, the market took a huge swing down today so I may be able to exit my 'long strangle' positions soon. This is enough writing for now, I will update on my poker experiments soon. Be well everyone.
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