Giving Up On BP

Last week I sold naked Puts on BP. I bought them back for a small profit. The political circus is not what is bothering me. It is the fact that the news regarding the size of the spill and containing it keeps getting worse.

2 comments:

Anonymous said...

I was considering buying some out of the money 2012 calls on BP, but then I reminded myself that the company has a terrible overall safety record. Imagine what would happen if BP had another major blow-up or leak.

CP said...

The Aug 11 notes are yielding 10% - might try that instead