Waving good bye to BIDU

BIDU put was profitable, so I sold.  Smart?  Probably not.  I’m sure there’s more room below, but taking profits is much quicker than accepting losses.  At least it is for me.  I’m going to have to find my old options rule I posted here.  I don’t have a lot of rules, it shouldn’t be that hard to follow them.

When GOOG dragged down BIDU, I was good with that.  When YHOO started to bring potential upward momentum to BIDU, I was ready to try complaining on message boards or issue a mass mailing about how the CFO for BIDU was the only reason the stock was worth anything, and now that I had a put in the stock it should crash.

Instead, I took the exit early today so that I could just finish up my trading for the day (probably) and focus on other things.

Sold:
BIDU Mar08 $230 put (BDUOF), 1 @ $16.00
   Entered 1/31 @ $13.00, exited 2/1 @ $16.00
   23% profit for +$298
      stock price entered $280.56
      stock price exited $265.60

Yes, this was another example of me taking a profit and running.  Damn, I hate wathing JCP and CMG punish me and my stupidity to not just sell for a loss hurting me more.

Perhaps I should flip the coin and have it decide when I should sell. 

Heads = sell
Tails = hold

Should I let the fate of my 10 remaining JCP puts be decided by the quarter, which couldn’t do worse than I do?