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  • who_is_your_pappy who_is_your_pappy Dec 22, 2006 9:24 AM Flag

    Man, I really fukced up buying options

    The good news for you is that you still have 29 days until expiration, and RIMM is a hugely volatile stock. If I were in your shoes I would probably wait for a 10-12 dollar swing and then sell the winning leg of the straddle for most of the $16 you invested. Leave the other leg alone and hope for a correction.

    But don't wait too long on either side. You rarely get 2nd and 3rd chances after big moves this close to expiration.

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