Tuesday, October 16, 2007

Taking my lumps-sell BA, WM

I cover my short puts on BA, WM. Two big losers on a percentage basis.
Buy back BA Oct 95 put
Buy back WM Oct 35 put

A big ouch. I am tempted to take delivery of these stocks and ride out the storm. Instead, I decide to cut my losses, even though they are huge losses on a percentage basis.

Positions: long GM hedged

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