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  • Going Short On GME 0 comments
    Sep 16, 2013 7:58 PM | about stocks: GME

    I just entered a short trade by buying long dated put on GME. I was going to wait till the new game consoles goes on sale but the technicals are breaking down to a point where it convinced me to pull the trigger.

    If this becomes a loss because of my timing, it will teach me to stick to the original plan. If I'm come out of this ok then it will teach me to improvise instead of sticking to the plan. In any case, it is going to teach me something.

    I have a offsetting trade in SNE. I think SNE will benefit from the new console excitement and valuation is very reasonable with low IV.

    I also wrote naked put on Sept. NKTR, Sept. RNA, and Oct. MDVN.

    RNA is interesting in that Sept. IV is hitting high when no news is expected until Oct. So, I took the opportunity.

    Disclosure: I am short GME.

    Additional disclosure: long SNE, NKTR, RNA, MDVN.

    Stocks: GME
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