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.buying swing +BYOQJ BAC 10 strike puts at .45-.47

Posted: Wed May 06, 2009 11:04 am
by MMASSASSIN
.buying swing +BYOQJ BAC 10 strike puts at .45-.47, by the time I send out this email the puts have moved down to .41. I think there should be more of a gap cover in financials, yes BAC was down strongly pre open only to find itself up after the employment reports, but financials I think moved up more on premarket fermenting. I am willing to ad one more oversized stake to these puts most likely if we again approach 12 area or if day lows are lost with a day trade in mind. I will most likely not hold the position overnight and after such a strong morning the risk on these puts is high. Volatility potential makes it worth the risk for me