Defensive positioning - Wolsey puts buy back + Sell RC Group

The Markets generally oversold + should rebound somewhat but if they don't then even more stoplosses are triggered + markets fall more.

5 Mar -Buy to close 4 Wolseley plc mar07 1100 Put @ 4p - £192.20net
08 Dec 06 -Sell to open 4 Wolseley plc mar07 1100 Put @ 14.5p -£537.8net
Gross profit = 69% Net = £345
-Should expire worthless for full profits but
not worth the risk in this type of market.


Sold 700 RCG @108 1/4p ..near breakeven
Sell 700 RC GROUP HLDGS @ 108 1/4p -£745.25
Jan 07 Buy 700 RC GROUP HLDGS @ 108 5/8p -£776.68
gross loss < 1% - Net loss £30