CFC Closed for +15.7% profit

(for details pls visit www.OptionPundit.net)

I mentioned to watch out CFC for $19 area, and it did drop today. I opened a straight put and then closed it as it started to move back up. IV also played a key role as even though stock came back to the point where I bot my PUT, options were making money as IV has risen. Closed for 15.7% profit within few hrs time.

I did open a BCS trade as well and I will manage it accordingly, if needed. There are some other interesting underlying that can offer good yield, for instance, XHB, FXI and IWM.  BAC trade is also already up >+10%

Keep an eye for value, profitable trading, OP