Man oh man. Just near the close of the market, I chickened out and sold my remaining position in Home Depot. With option expiration tomorrow, even though I wanted to hold onto my position, I decided to take the 300% gain. The first half of the position was sold at about a 100% profit, so I averaged out to a 200% return for less than a week's worth of work. It was hard not to sell and lock in profits. If stock pulls back a little, I may re enter and take another position (option premiums and bid ask spreads have gone up though).
Market acted strong and finished in the positive for the day. Let's see what happens tomorrow. There might be some volatility as option positions are closed and stocks bought or sold that were used as a risk hedge.
Great time for making money in options if you time it right. Not too much longer left in this leg of the rally. But the earning season is starting and so far the earnings have been stellar. With businesses cutting costs and not hiring, the earnings have been extremely nice so far. Once the earning fever ebbs, reality will sink in and we will begin our market retraction. But in the meantime, thar's gold to be found in 'em stocks....
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