Unfortunately this guy took a huge hit trying to catch the 2008 bottom in financials. "It can't go any lower now...". The guy is a Ivy League grad but incredibly one track mind. Some people have to learn it themselves. A few times I said, never again will I talk about finance with him. Stuff like this can get as bad as arguing about religion. It's the same as when experienced poker player tell novices not to play seven deuce but the novice tell them they won with it the last 3x. "As long as I'm winning what does it matter".
Taking off for the week on a trip so I sold 10 127 calls for 1 buck. november 19 contract. on my 1000 shares long.