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.

For those of you interested in trading options and want to know a good idea, it’s to follow the money of the big guys.  I’m going to be following a lot more of the big money until something proves to be unprofitable.

I should be holding onto the JCP options for another day, but I’m a little worried that this won’t be a call opportunity but might be a put opportunity.  The stock went up $.40 so I sold with a $360 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.

Here’s my strategy for this trade.  I will only hold until I make or lose 10% of my trade.  I know that in options the ability to make far greater percentages is possible, and it might be more difficult for me to constrain my profit or loss to that percentage.  Alright, so maybe 20%.

The market has been down a lot.  Is this a trend?  I don’t want to fight any trend, so I’m not ready to pick up calls yet, but I’m really prepared for it.  I’ve been waiting to buy calls in a few high dollar stocks, just looking to make a scalping-type profit.

Last night while I was surfing the web answering questions (ya, I’m one of those types) I watched the Forex EUR/USD trade I made last night reach over $70 in profit.  I didn’t take it, I was serious about letting it stay through the night.  Well, this morning it wasn’t at $70 profit.

Since a Retard (me) has been part of the VO (virtual office), there hasn’t been a day where everyone came in behind the Retard.  Today is one of those retarded occasions though.

No trades for me today.  My balance screen says my cash balance is $2415.26 and my buying power is $0.  My Customer Info screen says:
     Trade Authorization: No
     Pattern Daytrader: Yes
     Account Status*: Closed.

Today wasn’t usual, it was good though.  After having watched a loss of over $1,600 change my trading ways and cause me to alter my rules of trading, I was lucky enough to have followed my new rule and just waited until the end of the day and sold some options.