Taking Profits

Well, on another up day for the DOW (174.75), my BAC option trade still went nowhere. I couldn't take it any longer and I decided to take my profits. I sold off all 10 contracts of BYODH @ $.85. Trade executed at 3:42:59. Final tally was a profit of $349.02 or 72.64% after all commissions. It makes you want to scream when I realize I should have taken my profits when I was over 130%. I just can't see why the rest of the market took off this week while BAC went nowhere down.

The good news...I think....is that MS went down today to $25.65 which means the calls I sold for $1.75 are at break even had I not sold the April 24 calls and just sold the stock @ $25.65. MSDY is only down -100% in my portfolio and not -116.46% like yesterday.

My WBAAH calls for BAC Jan 40 2010 calls went up 33.33% today and is down -77.93% in my account now. Like I've been saying this week...this might end up being profitable when its all said and done. I still have over 9 months till expiration.

What is next? If the market pulls back a little early tomorrow, I will be looking to go long calls on both BAC and MS for this April expiration.

Portfolio up $535.29