The circle might be complete

I have decided against the Sandisk speculation. Options premiums are still exorbitantly high just hours before the earnings release and I don't see a good risk/reward opportunity here as there will be at least $3.00 time decay in which ever options you pick that are at the money (puts or calls). That means the stock must move at least 5-8% and in your direction just for you to break even. You could buy the in-the-money calls a bit deeper and have a reasonable cost structure and leverage if you are bullish, but the cost is much higher and I also think it is very difficult to game this one now as their is so much spec interest in this stock.

The only game I plan on playing is the NCTY earnings release which is coming up on 11/6. Still keeping an eye on that one but volume has basically dried and it looks like it might sit in 19-20 range until earnings.

Re: the remaining positions - the only one left really other than the longer term spec to january on gold, is the XLF short. That has gotten killed recently, but I have not closed it out yet. I plan on letting this one run until tomorrow and then tomorrow I will either close out for pennies or maybe roll it over until November.

Portfolio is where it was yesterday! - Down.....(but about same value).

Regards,

BG