No whammies.. stop!

Alright, that’s a really old TV game show.  Whatever.  Anyway, I figured that today was just a bloated move upward and wouldn’t continue, so I decided to buy puts against the Russell 2000.  Smart?  Maybe, maybe not.  I’m just here to make money though so this is probably a good idea.

Buying iShares on the Russell 2000 (an ETF or Exchange Traded Fund) might make for some interesting opportunities.  There are several ETFs that are available for traders, these make gambling with even more different indexes possible.  I’m pretty sure that if there was an opportunity to bet black or red on the market people would do it.

Bought:
IWM Jan08 $75 put (IOWMW), 2 @ $4.12
  stock price entered $74.19