Another day bites the dust! How low can we go here folks? I want to get into some puts but I'm afraid we may have hit an actual bottom here. Then again, maybe not. Classic TA seems to not apply here lately.

I let some options expire last night, TK called them "worthless", I call them &^#%$#^$&# worthless.....

XLF 10 call-c/b .72
CAB 7.5 put-c/b 1.56
SPWRA 40 call-c/b 6.16

Live and learn.

Been entering some puts as spec plays, here's some of my latest results.
Bought GIL Feb 10 put on 2/11, sold on 2/12 for a 203% gain, earnings were horrible as expected so the down gap did it's thing.
Bought MAS Feb 7.5 put on 2/2, sold today for a 147% gain, bad earnings again.
Bought SPG Mar 40 put on 2/2, sold today for a 34% gain.


Still in some spreads that aren't doing so great, will post those results as I close them.

Closed the MAS put today for a 148% gain
Closed the SPG put today for a 34% gain
Closed the GIL put on 2/12 for a 203% gain

Got stopped out of my JCP Feb 17.5P today for a nice 70% gain. Still considering the BIIB bull put credit spread. We'll see what happens next week.

My Current Positions

My current positions: Long (Short)

F Mar09 3C
IACI Feb09 15C
UYG Jan10 3C
(UYG Jun09 9C)
GFI Jan10 10C
SPG Mar09 40P
MAS Feb09 7.5P
AIZ Jan10 30C
(AIZ Feb09 35C)
AKNS May09 2.5C
GERN Mar09 7.5C
JCP Feb09 17.5P
DRYS Mar09 20C
SPWRA Feb09 40C
(SPWRA Feb09 45C)
S May09 3C
TAN Jul09 7.5C
TBT Jun09 42C
(TBT Feb09 50C)
XLF Feb09 10C
GLD Jun09 82C
WSM May09 10P

Stock

ISCO
PSTI
AAAE
ACTC
CPTC
EMKR
GETG
NCEN
SCLL
STEM

Closed my POT spread at 3:30 today, after twenty minutes of self-debate on whether to hold it for more potential gains. Decided against it due to the jobs report tomorrow possibly being a killer, and they expired this month anyway so decay was an issue.

Feb 70C, cost $966, sold for $1680=$714
Feb 90C, sold for $114, bought back at $275=-$161
Total gain=$553

I bought the 70 on Jan 22, and sold the 90 on the 27th to create the spread.

I think watching a stock run after I sell it is almost as painful as watching it drop after I buy it.