12:45pm (EST) Research in Motion (RIMM, $58.69, down $2.67) Buy to OPEN RIMM Nov 55 puts (RFYWK, $1.00, up $0.47) I should have profiled this trade a little earlier but we have been waiting for RIMM to break below $60. Today it has and it is picking up steam. We like these options at current levels and up to $1.10. Place stops at half the entry price. CURRENT TRADES First Solar (FSLR, $124.28, down $2.19). November 115 puts (QHBWC, $2.45, up $0.10) Entry Price: $1.00 (10/27/09) Exit Target: $2.00 (10/30/09) Return: 100% Stop: CLOSED Action: We had a feeling we would get stopped out this morning as the stock initially traded higher this morning. Hopefully, many of you took advantage of yesterday’s strength and got out for much higher prices. We were again kind of “whipsawed” out of yet another trade but it is hard to complain when you make a 100% return. We still like these puts but the trade is now over. We may have to revisit this one though… ]]>