<p>Yeah…</p>
<p>I think we will have many clues as the economy improves…</p>
<p>Sold aapl 3/8 405 puts for 1.43. Its going to cause a lot of pain for folks if it gets to there in the next 4 days.</p>
<p>Good luck…</p>
<p>There’s some character on cnbc who says we’re heading for a major crash because of bullish sentiment and technicals, comparing today with 2000 and 2007. I don’t agree with this.</p>
<p>I sold a couple of more goog puts today… I hope we don’t crash…</p>
<p>Yellin gave a speech this morning that was dovish.</p>
<p>“I do not see any [costs] that would cause me to advocate a curtailment of our purchase program.”
“We would not consider selling assets off until after the federal funds rate is increased.”
“I view the balance of risks as still calling for a highly accommodative monetary policy.”</p>
<p>I sold iwm 3/8 89 puts = .21, bought bac 3/22 10 calls for 1.31 and sold 3/8 goog 790 puts for 1.50.</p>
<p>Yeah… I am early. I am always early…</p>
<p>I didn’t say worry today. :)</p>
<p>Razorsharp, you didn’t answer my questions on jcp so I am going to be more specific and then you can ignore my more specific question. 
Which is fine. You don’t have to answer me…</p>
<p>My question is why did you sell the july puts instead of the may puts in jcp? </p>
<p>You are going to have to go thru another earnings cycle and the volatility is going to be pumped in the juls as investors and traders anticipate earnings.</p>
<p>You get an extra .50 to .60 of premium and you have to wait 2 more months to collect unless the stock runs way up…or is taken over or some other miracle…</p>
<p>Edit…One question for me…when are earnings going to be released?</p>
<p>Doct, you are very busy today…</p>
<p>Well - I take a break at lunch time, do this and listen to the airheads on cnbc.</p>
<p>:)…</p>
<p>Sold some goog 730 puts that expire next week</p>
<p>I’m kind of amazed that there are a bunch of people betting that GOOG will drop 200 points in the next two weeks (besides your 730s that is). I guess it’s a cheap way to bet with a huge potential return. But I might want to head to my local 7-11 instead of buying GOOG puts.</p>
<p>Some people buying these puts are bullish on goog. They hope the stock goes up because they are long stock, call options etc against the puts. The puts are being used as insurance, limits their downside risk,or to cut margin costs ( expensive way to do this). </p>
<p>But yes… Some people are speculating that goog drops. They better be wrong.</p>
<p>People buying these puts from me have the potential to make a lot more than me and may be making more already.</p>
<p>I’m hoping it drops to 790 so I can get in at a better price - I’m tired of watching this continually go up.</p>
<p>Some people may have bought those puts when goog was a much lower price as protection</p>
<p>Nah. You will roll doct I’m smiling but I would bet on the roll.</p>
<p>well yeah if I can then get it at 750</p>
<p>I think I want to buy goog at 760 and 730…</p>
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<p>It was probably a mistake to go out to July instead of taking the May puts, but I was planning the trade based on going back to school season. I am expecting a sell in May and go away so I would likely get stuck the stock in May. In July, however, I expect the stock will have recovered and begun anticipating back to school. I would not mind being long July through Christmas because I will sell it in Christmas for a profit. </p>
<p>I don’t think JCP has set the next earnings but it will likely be in three months which means May 2013.</p>