JCP made me smile

About F’ing time. JCP followed the market in its downward movement today (finally), and I got to sell my JCP shares with a profit. I would have been happy covering for no loss, but I felt that it would be rude not to take a small profit when presented with the opportunity. So opportunity arose, I snatched it, and now I’m able to buy a hooker.

I have over 2 dozen screen shots I took on today’s trading action, but most of them are really boring. Since this is a post about making money on the JCP trade, here’s my outcome.

Sold:
JCP Mar08 $45 puts (JCPOI), 4 @ $2.80
Entered 2/19 @ $2.40, exited 3/06 @ $2.80
17% profit for +$152
stock price entered $46.01
stock price exited $43.33

Sold:
JCP Mar08 $50 puts (JCPOJ), 2 @ $6.90
Entered 2/07 @ $4.90, exited 3/06 @ $6.90
41% profit for +$396
stock price entered $48.10
stock price exited $43.26

Here are a couple of the screen shots from today.

This was part way through the smile day.

This was from near the day’s end.

Pre-market even knew it was going to be a down day for JCP: