Even More Wrigley Options, and a Down Dow

Added an additional 22 contracts of $65 March Wrigley (WWY) call options priced at $2.90. As the price of Wrigley's keeps falling, I am dollar-cost-averaging the price of the options previously bought. This brings the total number of call options contracts to 38, with an average price per call option of $3.14. It's essentially a betting play. I'm virtually gambling that the price of Wrigley's stock will jump up hopefully over $70 after the February 7th earnings report.

As for the rest of the stocks, I still believe that they were relatively undervalued at the time that they were bought. However, the Dow is down about 1.68% year-to-date, and Intel's (INTC) negative news earlier in the week didn't help either.

We shall see. I am also hoping that the language in the Fed's upcoming meeting of January 31st will help things out in the market in general, and the financial sector in particular. However, there is always the risk that positive language in the Fed's report could be balanced against the fact that this will be the last meeting for Alan Greenspan.