GOOG brings relief to some

I put in a sell request of $20.00 on my one put of GOOG.  I then started my long commute into work (over an 1.5 hours today) and when I finally arrived at work I saw that my order had gone through.

I would almost equate this to making $498 just for driving into work today, based on the fact that I had $498 profit from the one put.  Maybe I should have bought two puts.  Or maybe I should have been smarter than to ask for instant money just because I was on the right side of a trade.

Here I sit with a losing trade in JCP and CMG, but don’t worry about just selling those and taking whatever losses I currently have.  But the winners, well, I sell those right away.

Sold:
GOOG Mar08 $500 put (GOPOO), 1 @ $20.00
   Entered 1/31 @ $15.00, exited 2/1 @ $20.00
   33% profit for +$498
     stock price entered $560.60
     stock price exited $525.00

Looking at the trade, I exited way to early and didn’t gamble enough.  Holding for one day, selling at a minor profit instead of a more major one.  This is not what I intended to do.  I should really try to get the gambling bug out of my system so that I can focus on making money.