JCP good and JCP bad

Let me first say that trying to deal with the time difference isn’t so bad, I just have to think about the stock market in terms of being the opposite AM to PM as Hong Kong, then an hour less than what I see on the HK clocks.

Not that it doesn’t confuse me.  I actually have my iPod set up to have Texas time and of course Hong Kong time. When I remember to look, I see that I’m still screwed up.  My time, Los Angeles time, Texas time, time time time.

Anyway, I’ve been staying awake at night and watching the opening of the markets as well as a little while into the trading day (though sometimes I’m too drunk to notice what’s happening or sometimes just stuck on the China side of the border).  I’m noticing that the only stocks going down were the ones I was not holding puts on.  Stupid JCP.

I was able to sell half of my puts at asking price, the bid dropped after that and I wasn’t able to sell at what I thought was a good escape price, so I’m holding onto a losing position right now.

Sold:
JCP Feb08 $45 puts (JCPNI), 10 @ $6.00
Entered 1/18 @ $5.40, exited 1/22 @ $6.00
  11% profit, $580.00
  stock price when entered $40.78
  stock price when exited $40.00

So if all the puts would have sold, I would have been much better off.  Bummer right now though, the stock has gone up and the puts have gone down.

Oh ya, and I thought that you would like to see this, it is a perfect picture of why it’s a good idea to have multiple stock streamers.. or just not use MBTrading.  It seems that the NAS seemed to have jumped nearly 40% in one day (look at the bottom).