I’m sure that I missed the bottom of the BIDU run and that I could have squeezed out a little more but I’m satisfied with my earnings today. At least, I’m satisfied unless I see a big drop and realize that I missed the drop. That would sort of suck a little.

Sold:
BIDU Dec07 $370 put (BPJXN), 1 @ $55.50
Entered 11/26 @ $49.50, exited 11/26 @ $55.50
12% profit, $598.00 (after $2.00 commission)
stock price when entered $335.39
stock price when exited $326.13

The DJI was dropping from the -30 level and I figured that since BIDU was so strong today (up over 8% at the time I bought a put), it would be a good time to make a put option play. I went for short term (I’m not counting on BIDU to drop for any length of time), the Dec07 $370 put (BPJXN). The stock was at $335.39 when I made the trade, buying one measly put at $49.50 (of course the commission only being $1.00 really helps with making a profit).