Option Millionaires

[shreya]

I had got myself 10 VVUS 25puts for 0.10 each, just after the mkt open yesterday, thinking that it will selloff after the approval news.
But it kept hovering above 29 all day.

I was frustrated and put a sell order at 0.13 thinking (read praying) that it sells so that I recover my money. Upto lunch time no action. But I held on. I returned from lunch to see VVUS tank and my puts were sold for 0.13, only to see it go as high as 0.75.
On one hand I am happy to sell (since I had expected them to expire worthless after the price action whole day yesterday), but on the other hand...well you know how it feels.

JB, u should have told us not to sell VVUS puts below 0.50...lol