JCP must die

JCP really shouldn’t be up 10% today.  Not even 9%.  It just shouldn’t.  Since I know it shouldn’t, at it knows it shouldn’t, I’m taking this opportunity to buy puts against JCP.  Take that you loser!

Here’s the dealio, the stock shouldn’t be going up because we are in a frickin’ recession.  This means that stocks like JCP and SHLD and TGT and WMT should be going down.  Something about people not wanting to buy cheap Chinese made clothing sold in USA stores when they can’t afford to buy dinner.  Go figure?!

Here’s my JCP thought.  It’s going to go down.  More than it has, back to a lower level.

Bought:
JCP Mar08 $50 puts (JPCOJ), 4 @ $4.90
   stock price entered $48.10

This should be a nice profit within the hour.  That’s right peeps, I’m predicting that JCP will turn down from it’s high today, making me profit on this (though still making my Feb08 puts nearly worthless).

Damnit, who let me buy Feb08 options so close to expiration?  Oh ya, that’s my retard self.  “D’Oh!”