My uncovered put options on Yahoo turned out to be a good deal. They went from $0.20 per share on July 25 Puts down to $0.05 today even though the stock went down. Naturally, it is due to the fact that the earnings are out and they are bad but not terrible. :)
The great thing is Yahoo doing terrible, which I'm sure is caused by Google being so awesome, caused Google to go down. That allowed me to re-open my uncovered puts on Google also, which I had closed last week for a nice gain. Now, I re-opened again at a higher price than last week :) A small risk if Google tanks, but I don't see Google tanking worse than Yahoo. That would pretty much shock the world.
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