418% profit $-) selling swing 3/4 +RFYVX - RIMM
.selling swing 3/4 +RFYVX - RIMM $85.0000 Oct 2008 PUT at 14.00 area at about 418% profit $-) now before the close if this bill is not finished, I will buy back 1/4 to hold over the wekend for as I said before if the unthinkable happens and the market break down. Now if RIM was to pul back to lose the day lows then I would buy back the full amount of puts, but again with the intention of by days end having only a 50% stake. This hedge from yesterday was the smartest thing we did yesterday and its helping greatly but with the risk that we have I find that if this bail out is not ready, then even though today may be the best buying opportunity of the year, a hedge in options becomes almost necessary for anyone with bullish stock positions. Lets hope this bail out happens, the consequences ate to high, we dont need to stubbornly allow a avoidable depression from happening .
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