Markets and what I’m bidding on right now

And set up shop at the top of four seasons
Kid Rock and I’m the Real Mccoy
And I’m headed out west sucker ’cause I want to be a
Cowboy!! Baby!  – Kid Rock

Whew, I’m back from a wild trip and it sure feels like it oughta be a Friday. But it’s Wednesday and that means we’ve got, as of this hour, just about 50% of the trading week left to go. So it’s like my Grandpa Willard taught me, “No rest for the wicked.”

I’ll talk later about some of what I learned from my trip to the convention, but let’s talk markets for now. It’s been a bit of a steady fade lower for most of the action thus far this week, though there’s been a steady bid to counter any momentum downwards.  I’m trying to buy a variety of puts dated anywhere from March to as far out as they’ll sell them to me in LPS, BK and WFC from the current strike price to about 10% lower than the current quote, but I’m bidding at the low end and not in any major rush to get filled.

That is, say, in LPS’ case, I’m trying to buy puts that expire in March 2012 with strike prices from $19 down to about $17 and putting in my bids just about 5 cents above the current highest bid I see out there.

Don’t forget we’ve got our chat at noon, so bring your questions and I’ll bring the best answers I’ve got.