SOLD -2 OIH 100 AUG 09 110 PUT @7.41

I'm out of my OIH puts at a miniscule profit of \$62 - \$15 commission. Particularly in light of the fact that the drawdown for this trade was over \$300 at one point when OIH touched \$108.29.

I got out today because there still isn't enough volume even when it tanked today. So there didn't seem to be momentum carrying it down. Furthermore, the TICK kept rising since late in the morning.

[caption id="attachment_1630" 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-oih.png