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.


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