POT - Just Wanted To Disclose This Small Position:

FYI, this turned out to be a losing trade / position for me as I allowed my emotions to take charge. Basically, I knew that all I needed was for POT to reach at least 90.00USD and I would be able to get out of this position at .40 per contract. However, on 02-05-09 when POT started to make a move to 90.00USD, I dropped the position at .05 per contract as shown below:

Filled Sell to Close 18 +PYPBA Limit 0.05 09:37:03 02/05/09

What went wrong here? I had held the position for too long and I was afraid that I would have to just let the position expire (since there was no bid for a while on these calls). So when I saw the first opportunity to sell, I panicked and sold without paying attention to volume and the technical signals for that day. Well, needless to say these calls went as high as 1.45 per contract when the stock reached 95.46USD on 02-09-09. Lesson learned - emotions do not belong in this game!


01-21-09: The BID / ASK for this call (PYPBA) is .15/.20 - obviously, I will not add anymore to this position as it is just too far from POT stock price. I will have to fix this trade after POT reports earnings - if the stock happens to run between now and tomorrow; then, I may sell the entire position at .40 per contract. Fixing this trade will require a trade closer to the stock price after the expected movement based on their earnings report.

Added to this position today, 01-20-09 - see below:

Filled Buy to Open 12 +PYPBA Limit 0.30 09:44:57 01/20/09 - just trying to average down the cost of my original trade below:

Filled Buy to Open 6 +PYPBA Limit 0.55 15:56:42 01/16/09

It appears as the DOW may have found a small support right below the 8000 mark and we may see a little rally next week - we'll see what happens. I am not in the business of predicting the markets that is why this call play is very small in anticipation of another small rally on POT before reporting earnings on 01-22-09.

Enjoy trading!