Friday, February 20, 2009
3 Boneheaded Trades Today
Here's an intraday update for y'all:
First, I sold my SDS at 91.75 this morning (up to 93.79 ahora). That I bought around 66.00 in early January.
Second, I nibbled on Bank of America. I bought a few shares at 3.33. It's 2.89 as I type this. Dumb.
Third, I bought a few Feb 210 puts in SKF. Paid about 4.00 or so with the underlying just under 210. They expire in 2.5 hours. All I need a little dip (market rally) to pay for them. Maybe I buy stock 1-to-1. Maybe I buy against half of them and turn the position into a one day straddle. Maybe I do nothing. The puts seemed cheap - as everything does to me on expiration day. I've sort of a fetish for expiration option buying.