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What has to go down as one of my worst trades ever, is this recent ERTS option call. I just sold my July ERTS calls for a 67.7% loss. ERTS broke the 49 level to the downside and I don’t want to hold my July 50 options there. I have gut feelings that upgrades/coverage initiation or whatever else is going to hit this stock either on or after Friday when EA presents at the E3 conference sending the price back above the $50 strike price. I just couldn’t stomach the July volatility. I still have my August ERTS calls which are equally performing like crap and are riding on a carpet of hope at this point that they just get back to even.

Equally shocking to me is the NDX July calls are not making extra moola today with the NDX tacking on 11 bucks at the highs. The NDX came within 3.58 from marking a hit of NDX 2000 – A level not seen since May 2001.

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