Thursday, May 11, 2006

Giving in to Fear

I decided that my profit target was too high for these options. I'm putting in sell orders to breakeven if possible.

HELX
IWO

Both of these have had a hard day. And why again did I buy May options on HELX? Because I'm stupid that's why. Time decay is killing this trade.

I don't think IWO is going to move to $87. Next time I will buy in the money options that don't depend on such a big move to go up in value.

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