Buying Swing: adding RIMM 65 May puts at .57-.60 2x oversize
Posted: Tue May 04, 2010 10:49 am
Buying Swing: adding RIMM 65 May puts at .57-.60 2x oversized . Am using RIMM as a bearish hedge viechol now and with that in mind taking a position that was already 2X oversized and making it 4X OVERSIZED. The market is now hurting a lot of the long options stakes and RIM can work as a good hedge in tech for larger picture I believe she may now be turning multimonth bearish. The AAPL 280 May calls got hit hard today and BP has not yet shown follow trough on its bounce plus GS that today looked like it was setting up for the squeeze again finally slowed as the markets tumbled further. A stock that is so badly placed as RIMM should serve if the position is large enough as a good across the board hedge.