Win some, Lose some

Was in constant contact with the broker today. I went out for lunch and forgot the mobile phone :-(

When I came home, I saw I had 7902 missed calls, 1 from the broker and 7901 from the answer phone.

The price had been moving down towards 410, then bang hit 406. The broker managed to sell half my contracts at 10p. I know, I know this is a loss but it is still better than the position I was in last month when they were virtually worthless.

So I bought the puts at the price of a Ford Mondeo and sold them at the price of a Ford Ka. This is still infinitely better than selling them for a second hand scooter!

Anyway, I still have the other half to sell and am hoping for a further drop in the share price tomorrow. When dealing with options, hope should never enter into the equation but we all have our failings.

Its ironic that the pleasure I got from making a loss (but a smaller loss than anticipated) is the same feeling I get from making a gain. It has to do with unexpected pleasure.

If only I could have had that two months ago then I would be sitting on a handsome profit.

Another day another drop tomorrow