It's that DRI (Darden Restaurants)thing again. This trade has troubled me even more than my GYMB put last winter. Then, I had a May contract at $35 and when it expired the stock was trading $10 higher than that. After my expiration date it dropped back to $35, then 6 mo later to $25, then a couple weeks ago from $25 to $15 in a couple of days. That was a blowout for me, and like with Darden I never placed a stop loss order. I suppose it was a show of defiance. But I'm a year more experienced now and, one would hope smarter, so why am I stuck in another death grip with a stock that refuses to fall. Darden went as low as $24.11 on the 6th then rebounded to over $30 today. Well, my put expires this Friday and earnings are due to be reported Wednesday and the stock has to fall below $24 for me to break even. Even a bad earnings report on Wednesday might not drop the stock $6 in two days. So did I graciously acknowledge defeat and accept the couple hundred dollar loss with poise and equanimity? Of course not - I bought a $30 put also closing on Friday. If the stock drops to 27.00 by Friday I'll clear enough to cover the loss on the other contract and call it a moral victory. Meanwhile the Canadian railway call has done pretty well, and Caterpillar was up then back down. Maybe I'll close them in the morning and focus all my emotional energy on negative vibes for Darden. If Darden is up a buck and a half tomorrow you probably wont hear from me for a couple of days.
On a happier note Kim and Ross celebrated their first anniversary this week. Hooray for them. They dropped by Saturday and we talked and laughed a lot. Ooops, I'm on my new laptop and don't have a picture to post. I'll do that tomorrow.
I couldn't wait so I went to Kim's blog and swiped a photo:
Love to all.
1 comment:
Thanks Daddy! I love you!
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