Sold my JPM Jan 55 Cs today. The stock is up on a combination of the following;
1. industry write downs (UBS wrote down $19B!!!) - reading this Mr. Market seems to think that the stock market's bottomed.
2. The US Treasury's proposed overhaul of financial regulators
3. Goldman Sach's comment that JPM will have next to no writedowns this quarter
Now I figure that what goes up must come down, so will be buying JPM puts. We'll see how well that plays out...
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