is this the turning point for anz, page-12

Ocker I trade in and out of my options, I banked profit at 15.80 and Im just waiting for the rally to end before I load up again, nothing ever goes straight down and its better to bank a profit when you can I learnt a longtime ago that your better off not to be greedy with options, if you hold a long put for instance and dont close out your position and a rally occurs time decay and the rally can nail you to the wall, its better to pay the transaction cost and trade in and out especially when the volatility is so strong, otherwise you risk getting burnt with a large rally when I think the rally is over I will probably place a "bear spread" which is where you buy put and the sell of a put at a lower strike , once the trend is back in place then a long put is the best option.

with lousy option placements you can get the trend perfectly correct and still do your doh