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kekstennis kekstennis • Nov 20, 2008 11:52 AM Flag

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I don't understand..
.. why people complain. I recommended puts when BAC was $24. Why didn't you buy?

Even if you bought puts as a hedge, you'd break even at worst.
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- kekstennis kekstennis • Nov 20, 2008 9:04 PM Flag
  
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  Just remember people, whatever you do, do NOT listen to me. After all, you know best.
  
  genem, congrats on buying those puts, they must have appreciated considerably this afternoon.
- genem7169 genem7169 • Nov 20, 2008 12:04 PM Flag
  
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  I hedged my position, alittle though. I bought $7.50 puts when the price of stock was $16.50. Unfortunately my average price of the stock is $42.00 ouch
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  - kekstennis kekstennis • Nov 20, 2008 12:27 PM Flag
    
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    Still, better late than never. It was a smart move.
    
    From now on, I think you'll be hedging your bets so you're unlikely to lose in the future. And BAC will EVENTUALLY be a $50+ stock again so you really didn't lose anything.

BAC

13.270.06(+0.45%)Jun 18 4:00 PMEDT