BOUGHT +4 ESLR 100 DEC 08 5 PUT @1.40

[caption id="attachment_626" align="aligncenter" width="500" caption="ESLR"][ESLR][][/caption]

Covered my short puts on ESLR shorted at \$1.60 yesterday for \$1.40. The S&P just touched 930 level and backed down. This could go up to 940 or back down to 900. The risk/reward doesn't look too good, so I'm unloading my ESLR options to re-enter later.

This was a short term position as planned. On the other hand, I unloaded my DELL options a bit too early in hindsight. DELL was about 12.17 when I exited, now it's at 12.36.