RIMM & V

Today was a big day with the Fed's taking control of Fanni and Freddie. The market is up almost 500 pts from its interday low. I have had my eye on Rimm they have got caught up if fear selling in the market.This is the position I entered

Account Number: xxxx-8709 - William G Ripley and Danijela Obradovic [JTWROS]
Order Number: 59438915
Symbol: .RFYLX
Description: RIMM DEC 85 Call
Stock: RIMM at 100.08
Action: Bought To Open
Quantity: 1 contract(s)
Price: $21.90
Commission: $14.95
Reg Fees: $0.00
Net Amt: $2,204.95

This option has a delta of .71 meaning when the stock moves a dollar I make .71 so I like it.

The mistake I made on this trade was I bought it in the morning and I have been wanting to keep my trades more toward later in the day. The second mistake I made was I did not heade this position with anything from the down downside. So next time I may want to buy a put.

Visa is on my mind but I will cover it in my next post.