Buying RadioShack (RSH) Puts

This one caught my eye today as it was the top gainer according to Google Finance. RadioShack (RSH) reported earnings earlier this morning and was able to top estimates BUT at the cost of trimming operating costs (i.e close shops, fire people, etc.). Almost every other category was in the red. Not a good story to tell if you ask me (hey look mom, I can dunk on kindergarten kids!).

Anyhow, Wallstreet felt different and RSH popped. To be honest, I think it got help from the fact that Wallstreet was generally happy thanks to news from IBM and their plans for a buyback.

So artificial pop, helped with abnormal happiness from Wallstreet, me thinks a correction is on it's way. Hello puts. By the way, I got lucky again and was able to have someone to take my bid at the puts day low ($0.32).

Buy to Open: 10 puts of RSH March 17.5 at 0.32

--Kevin