Position Update

I wanted to take some time and just update my current positions:

KRE puts – these are doing fine, currently up about 5%. Until I hear a clear plan from the Treasury on the banks, I will continue to hold and add to this position. I am definitely eager to see how these “stress tests” pan out…

AET puts – these are doing very well. The position is currently up 45%. I actually have in order in to double the position, but haven’t been filled as of yet. I will add to this position, if I get my price. I anticipate further weakness in this sector, as the government recently announced a lower than expected increase in Medicare Advantage reimbursements. (This exactly what happened in Japan during their lost decade). I also anticipate insurance premiums going down in the coming year, and will continue to stay short of the insurance sector….

CBRL puts - I got smashed in these, the position is currently down 40%. I actually put in an order today to double my position, as this stock is reaching some significant resistance overhead. So far I haven’t been filled.

IYR puts – These are doing very well, up 80%. They are March puts, so I need to sell these soon. I am trying to be patient because I see further weakness, but I definitely need to consider taking some profits.

FNF puts – This position is down 20%. However, this one is finally coming back to earth, and showing some real weakness after the horrible housing results earlier today. I anticipate this one has peaked out, just as the refinance activity has in the first quarter of 2009. I would love to see a close below 17!

AZO puts – I don’t like this position at all. I am currently down 14%, and the earnings on March 3rd are coming fast. I am undecided what to do with this position and need to come up with a plan quick!

TRLG – I bought these puts a few days ago, and am currently down 10%. Earnings are after the bell today, so 4:30 should be exciting!!!!


I have also done some day trading the past couple days and have had a couple good trades.....I recently added some QQQQ puts, and plan on holding these through the week.