I said it yesterday and it happened today. I said Riverbed Technologies, Inc (RVBD) likes to bounce around. It opened lower this morning and in the first two minutes was down from its Tuesday close at 31.97 to 30.50 where my limits for the June 30 put hit. I received $288.49 after commissioins and now RVBD has recovered from its opening lows and is trading at $31.41 as I write this.
That gives me a 10% cushion for RVBD to fall before I’m in the red. I’m not saying that I’m safe right now by any means, but I do know that selling options on RVBD without using a limit is a crazy way to leave money on the table.