C you next Tuesday
I actually sold an option for a profit. I know, it’s really a momentous occassion on which I’ve decided to celebrate by buying another put in another stock. It’s really something that I’ve been hoping to do for a while.. you know.. making a profit.
The market is down nicely today. Thanks go out to those that supported me most, like my Uncle with the touchy fingers. Aunt Bertha who would allow me to eat table scraps. Umm.. oh ya, and my dearest friend Jean Luc. Jean Luc, even if the world can’t see you and only I can, I still know you’re real!
Alright, so the market is down. I sold C. Now I have more money to by more hookers with, right?!
Sold:
C Apr08 $20 put (CPD), 3 @ $1.20
Entered 3/05 @ $0.92, exited 3/06 @ $1.20
30% profit for +$78
stock price entered $22.48
stock price exited $21.51
Of course C is still dropping a little bit, but this was more for my sanity and to break a losing streak.
And before I hear some Squid technical jargon about this trade, I have just one question for you Squid, and it’s a mathematical one: how much money and how many shares of C would I have had to invest in order to make $78 profit, if the stock was $22.48 when I bought it and $21.51 when I sold it?
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