RIMM is on fire

1. Market is flat after last week's big gain.
2. Gold and PM stocks are higher, I did add FRG again. PM stocks should be in good shape to consolidate before next leg up.
3. RIMM is on fire again, up 4 to 136.81. I used this to add June ITM put and March ITM put. Even though these two positions are ahead since I added when RIMM was traded at 138, my previous RIMM Jan.2008 put and March 2007 put are all under the water.
4. This is really tough, RIMM is really difficult to play. Since it broke 85 to close at 103 on early Oct. 2006, many people played the short and got burned. I waited and waited, still got some losing positions. I'll add put again when it hits 145.
5. Since RIMM didn't break 145 in three early attempts, this time 140-145 is another critical point, it should serve as a place to play put aggressively. I'll do so. If it passes it, then the momentum will carry it for a while. It's critical to have at least a few months in the option and give it room to run its course.
6. Tomorrow will watch RIMM, consider to add put when it is above 142. This is my focus for the next few days. I believe this is the few times in the year that you can make a major bet and make money.
7. My main bet is when RIMM is above 142 but below 146, I'll add June or Sept. ITM puts. Even it's not working out short term, I think it will be profitable when all are settled.
8. This is really risky of course, RIMM may have some "good news" to announce, but I think sell on the news is the game here.