EOD +$87

Just one daytrade for me today.  It was in Celgene CELG.  When I saw it this morning it was at $43 (-$4.32), so when I saw it over $47 later in the day I figured it was time to buy puts- I went for the December puts that expire tomorrow.  Of course it zoomed up to over $48 after I bought them.

I never did check out what kind of news releases were out for it.  I just kept an eye on how it was trading.  It seemed strong, and I sold the puts when I got a chance to.  The stock closed at $49.50 and the options I bought at $2.60 closed at a bid/ask of $1.00 x $1.15 - that’s why it’s important to monitor your positions…

Daytrade:
CELG Dec07 $50 Put LQHXJ - Bought 5 @ $2.60 today, Sold @ $2.80 today
    $86 profit, (after $14 commission)
stock price when entered $47.70
stock price when exited $47.20

I also exited my JCP calls at breakeven this morning, it looked weak.  I may get back into them tomorrow - I think it is due for a bounce, and at least attempt to double bottom. 

Sold JCP Jan08 $45 calls - 10 @ $2.10
      entered at $2.075 average yesterday
$1 profit (after $24 commission)
stock price when entered $43.98, $43.55
stock price when exited $44.10

I’m still holding my BIDU Jan08 $350 put, and it’s hurting my account value.  I don’t own any RIMM but I am not liking RIMM’s insane move afterhours - these crazies like to go in the same direction.  If that direction ends up being rocketship style, I’ll just put my BIDU put next to Michael’s RIMM put in the options graveyard.