Out RIMM for a profit

That’s pretty impressive.  The reason that it’s impressive?  I held onto a put position since before December’s earnings where the stock went from the $100 to $120 level, seriously leveling the value of my Mar08 $120 put.

Thankfully the stock has dropped enough where I could escape with a minor profit.  Of course, while the opportunity presented itself to me, I took it and sold the remaining Feb08 $100 puts that I had (both of them).

Sold:
RIMM Feb08 $100 puts (RULNT), 2 @ $10.50
Entered 1/7 @ $8.30, exited 1/9 @ $10.50
  27% profit, $436.00
  stock price when entered $99.75
  stock price when exited $95.50

RIMM Mar08 $120 puts (RULOD), 2 @ $27.80
Entered 12/18 @ $26.80, exited 1/9 @ $27.80
  4% profit, $98.00
  stock price when entered $99.99
  stock price when exited $94.75

I’m getting pretty lean with positions here, maybe it will be something worth going crazy on tomorrow.