Daily Stock Market Equity and Options Trading Commentary

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Monday, September 8, 2008

PUT Goldman Sachs in its place

Today I am writing about some PUTS I purchased to hedge myself. I own GS stock so I purchased 10 contracts (while GS was trading at about 171 per share) for the October expiration for the 145 strike. Goldman is the last financial giant standing, and honestly I don't think they can avoid this credit mess, therefore I purchased 10 contracts for a total of $1400 today. So with almost 50 days until these PUTS expire I will see what kind of profit I can pull. I will keep everyone updated when and at what price I sell the contracts.

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