I have decided to sell Sept 10 put on ATPG,

ATPG broke 11 today, 11 is its 50 dma. So, the decision is actually made by the market. I sold 50 puts today at 0.75. My reasons to sell the put against market trend are:

1, Management said MC941 #3 well should come before the end of Sept, I believe that it is highly likely to happen at the time specified. BP oil spill crisis is over and there is a 6 month drilling ban, I believe now people in GOM has not much things to do other than so left over projects to focus their energy on. Just in case, it is not done, I am assigned shares, give it one or two more months, it should be done.

2, I am guilty that I let go a third of my positions on 8/12 when I was under great pressure from market drops, that was a mistake at that time, atpg shoot up from 11 to 12, but now, it turned into a good action, since ATPG\'s closing price today (10.76) is about 5% down from my selling price days ago. So I would be very glad to buy some back at an effective price of 9.25.

For the last couple of days, my overall position on ATPG dropped a lot. It is really depressing to see that, but I pulled a couple of really good day trades. Today\'s example: bought atpg at 10.54, and then bought again at 10.39. My confidence and courage are from a fact that ATPG\'s CEO will talk about their GOM projects on a conference call tomorrow. I know there is a huge short position on ATPG. I guess some of those shorts will want to take profit today to avoid uncertainty coming tomorrow. Finally I sold half of my position at a predefined price 10.78 and the other half at 10.73 after the trend went down again. At this time, I do not know I should be happy or sad, but I know I am worried.