Bought to close all of my BP 18 OCT Calls. Bought to close for Acct I @ .05 and for Accts II & III: .04. BP got pummeled on above avg volume yesterday and is down again, this AM, at 44.45, and dropping. Yesterday, the Court ruled that BP could not "claw back" any of the payments that it made to businesses whose claims of loss due to the gulf spill were tenuous. This particular legal loss for BP is estimated to be a loss of potentially a few hundred million. Really, a drop in the bucket in this case, but it is yet another negative for BP, perhaps the "unluckiest" company around these days! 19 of 30 analysts rate BP a hold or sell.
In other news, the market is dropping like a rock this AM: S&P down .75%. Also, after a great initial launch, now there has been some time for complaints about the iPhone--it isn't syncing with some automobiles and there are problems with it bending. Accordingly, AAPL is down and likely and dragging others down with it. Oil, is actually coming off its 52 week lows--WTI around 93 and change, now.