Trade & thoughts for today

I bought a Dec Bank of America $40 put for 0.90 yesterday. My thinking is that with the Super SIV asset reshuffler now in action, and BAC one of the big names in it, they are in some serious trouble. Today they announced $3 billion in losses and they were up. Oh, well. We'll see how long that lasts.





Here's a nice chart that speaks for itself:

Current price: $33.88.

Well, with the Vix dropping down to under 25, I need to look for some puts, and maybe some retail or financial bouncebacks to short. I don't think this bounce will last long.