PUT update

So I jumped in head first on a few Blackberry (BB.TO) Puts.

Although I'm an iPhone user, I see BB devices in the hands of people every day.  I still like the company, perhaps purely for nationalistic reasons, but they seem to have made some great strides to remain competitive.

The stock is still VERY volatile.   So I closed my position on $15 Puts, as the current market price has been flirting with both sides of the $15 for the past 2 weeks.  I was able to close them for a tiny profit...  Not even enough for some box-wine!  But it still is a profit as tiny as it may be.

The $14 puts and the $13 puts are performing exactly as expected.  There is no big news to be released, nor will any new info be available until the next larger wireless carrier busy some more phones. 

As their established enterprise client base is quite loyal, new phones will be sold as the contracts come up for renewal on old handsets.

Rumour and conjecture will of course send the stock for more $7+/-% days. 

So I'm fully expecting my all of my remaining Puts to expire worthless.  (which is exactly what I want)

BB Apr3 $14 P sold @ $0.92
Current market price $0.20.

BB Apr3 $13 P sold @ $0.65
Current market price $0.09.


Further updates to follow!

As always,

Stay hungry my friends!