+IWM 100 MAR 09 45 PUT @2.56

2/12
I exited the trade @3.3 (+0.74 or +27% in 23 days). I could have exited the trade @3.6 when the IWM went even lower. The IWM ended up for the day. I exited earlier in the morning and didn't want to hold the position any longer because I would be loosing on the position on time decay.
The IWM rallied from 42.47 to a high of 45.14, which is (~6%) in the last hour of trading.



WBT BOT +1 IWM 100 MAR 09 45 PUT @2.56 PHLX, IWM MARK 46.41
We've gone up for the past few days. We also gapped up as the gov't is planning to buy the bank's toxic assets. Gap-ups are almost always filled, so that would put it below 46. One thing working against me is that IWM closed above the 50SMA, on the other hand, the bearish part is that the volume isn't above average.