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12-Jun-08
DSL - Downy over the downer?
sold 2 5$ July puts at 1.15$
Big volume today and a big intraday move following by a sharp sell off into the close.
Could this be another week of gradual bleeding into the penny stock zone or a glimmer of hope into the 7 to 10 range?
The fact that it finished positive and had significant volume could mean a short term short squeeze.
I also broke a rule trading these options because of my 'no option trading with daily volume<1000' rule (843), so the risk/reward on this one is significantly inferior, but this week I had a hard time finding ideal trades anyway, so this might be another lesson to strengthen my discipline to stay in cash when odds aren't good enough.
or a quick 30%er.
Tagged Stocks: DSL
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