I read this article in morning and went looking for puts on stocks that took an unwarranted pop and came back to RIMM. Anyhow, no major profits here, but it's always an opportunity when you see the market "hoping" for great news, some stock taking a pop and then falling back to reality.
Buy to Open: 10 puts of RIMM 93 3/8 at $1.01
Sell to Close: 10 puts of RIMM 93 3/8 at $1.05
(It was up to $1.11 at some point, but whatever, I am looking for base hits in 2008 not home runs). RIMM jumped $0.90+ in less than 1 minute so I got spooked ;P. The puts are ticking higher, but I am not chasing until I see where the momentum is at at the end of the day.
Gain: $40
--Kevin
Monday, February 25, 2008
Intraday RIMM
Posted by Kevin Lam (Impacta LLC) at 10:26 AM
Labels: Investing Journal - Kevin Lam
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2 Comments:
Nice job. A gain is a gain, no matter how much it is :)
Ken
Like I always say, "beggars can't be choosers ;P"
--Kevin
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