Tuesday, May 22, 2012
High for LOW
OK. So I chased it a little. I bought the $26 LOW June put for $1.09. Hey, I did wait until the half hour before close this time. That is what my mentor Jon Wirrick taught me to do. That is not considered chasing. Now watch it go to 95 cents! It always does that to me. Oh well, that's trading. It's hard not to let emotions interfere. The stock was at $25.48 so the option is now about 50 cents in the money or so. What fun! ACOM is also cooperating and seems to be heading back down. Lets hope they keep on going. I put a sell order in right away for the LOW puts at $5. So if they happen to zing up there it will go KA-CHING!
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