Goodbye RIO

RIO finally dropped enough for me to make a profit on the stupid put.  One single put, and I had to hold onto it for a gain because losing $12 would have been too much for me to handle.  How stupid.  I followed the pack on that one, but bailed before the pack.

So I entered a position 12 working days ago (seems like longer than that to me) and made an astonishing $8.00 profit on the put!  That’s right, it’s not often that someone will share these sort of numbers with the general public.

You would think that I would be worried for my life with the mass quantity of money that I’m making on trading deals like RIO, but somehow I manage to live a safe and regular life.  Yep, me and Warren Buffet try to just blend in with the common folk.  Feel privileged.

Sold:
RIO Mar08 $30put (RIOOF), 1 @ $2.30
Entered 12/20 @ $2.20, exited 1/9 @ $2.30
  4% profit, $8.00
  stock price when entered $32.50
  stock price when exited $30.77

I figure that this means I’m on a winning streak (for the day).