Well i was correct is selling RIMM for a $180 loss. The followng day the market fell -777pts. I was very upset at the fact I gave back most of my small profit, I then realized that the options market is about stratagy and hedging my positions.So i did what I knew was best and played both sides with a straddle this is how it looked.
10/6/2008 10:00 Sell To Close 1.QAAWB AAPL NOV 110 Put 24.45 14.95 0.02 2430.03
10/6/2008 9:55 Sell To Close 1.QAAKB AAPL NOV 110 Call 7.7 14.95 0.01 755.04
9/30/2008 9:59 Buy To Open 1.QAAKB AAPL NOV 110 Call 12.6 7.48 0 -1267.48
9/30/2008 9:59 Buy To Open 1.QAAWB AAPL NOV 110 Put 14.75 7.47 0 -1482.47
Total +$435.12 Reducing total losses to $4071.88
This is just another example of whay ot pays to have protextion.
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