Philip Davis
Philip Davis
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Philip Davis
Stop FollowingPhilip Davis
A Few Miner Adjustments: BHP Billiton & Phelps Dodge [View article]
That worked out great! We got out of the PD $80 puts at $1.40 (up 200% from our 8/24 call) as it turned up on us, we don't reenter these as there is not enough time in the month anymore.
The BHPs are holding their value but we only bought them for insurance to get us out of PD, not as a trade so I'm out at the end of the day or .75 (+ .05), whichever comes first - currently .80. I'm raising the stop a nickel with each move up as I have no love for this position.