BetterTrades

Put Options to Work

Dear BetterTrades, I enrolled in your class Oct. 1 and 2, which was great and in my case an overload. But I did learn about call options and put that to work on the Oct. 3. I turned a $9,000 investment into a $14,000 paper profit by Oct 11. I used a stop order to protect my positions which was needed on the 10th. When I went to the class I knew what I wanted to buy. I purchased between 1 and 10 contracts for November and December on the following stocks: GS, MON, MA, RIMM, AAPL, EMC, FCX, SPWR, BEAS, POT, HAL, GOOG, GRMN, NOK. Of course I dumped 10 contracts of BEAS after the buyout was announced and picked up a $6,000 profit. Now I will go onto Lesson No. 2 and learn about puts. Thanks for the great class. This was an IRA account -- tax free.

Ken Waters, New York