Bought +2 OIH 100 AUG 09 105 PUT @4.60 Mark 103.63

Minutes after exiting my 110 puts, I'm back in now. Oil Services ETF (OIH) broke \$104.30 on the upside but failed to hold it for more than a few minutes. This coupled with the fact that the market (i.e. S&P500) broke 980 again and also failed to hold it for more than a few minutes.

Anyway, my previous analysis still holds. However, my position is 2/3 of last time.

Entry: \$103.63

Exit: \$104.30

Target: \$100

Reward / Risk = 3.63 / 0.67 = 5.4

[caption id="attachment_1634" align="aligncenter" width="500" caption="Oil Services ETF"][Oil Services ETF][][/caption]

[Oil Services ETF]: http://traderpau.files.wordpress.com/2009/07/2009-07-28-oih1.png