Stock Chart

DIA - Not my first choice

01/19/2010 05:21 PM by Dave Pinsen

Had limit orders in for puts on two companies I found on Short Screen's screener. One idea behind my Short Screen put basket is that when the market corrects, I expect financially-distressed stocks will fall further and faster than the broader market.

A few minutes before the close today, my limit orders still hadn't filled, but with the Dow hitting highs I felt it was an opportune time to short something. So I picked up a few of the 87 strike JUN 10 puts on the Dow-tracking ETF DIA.

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  • 06/24/2010 03:21 PM by Dave Pinsen

    Incidentally -- I noted this on Twitter, but should have noted this year as well -- I sold these last month at $1.25 for a gain of 32%.

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