We took a profit on part of our position in Dryships (DRYS) today. The main reason was to take some money off the table just in case the market corrects a bit.
I also bought 5 MGM October 13 puts at $1.50 as the casino stocks are acting a bit sloppy right now and are trading well above any reasonable level of support. The puts closed today at $1.31 a contract, so the first day's results for this trade left a little to be desired.
Thursday, September 17, 2009
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