- First, I'm a recent college graduate and its been some time since I've covered this type of material.
- Second, I'm not personally liquid enough to throw my hard earned money into speculation... So I am only tracking (and asking for advice) for experience.

So tomorrow (Sept 17) we all know Palm's earnings will be released. Hopefully each member of this forum is bullish on the stock (as we want Palm's financials to be healthy so more can come to our newly purchased product).

However, there is a chance that Palm will release unfavorable news concerning 'Pre Sales Numbers.'
--- Either way, speculation says that a major move in Palm's stock is in order over the next few days (up/down is up to the report and the market).

So if one wanted to record profit with the speculated of a large move, how would one do it?

Buy at the market (long) Palm 500 shares... Then buy a 5 Palm put options (an equal of 500 shares)?

- Correct me if I'm wrong, and if your knowledgeable please put any other numbers and opinions as a reply.

- Edit: My Goal: I'd like to record a wise position today and track it over the next few days (in this post)... to help learn about hedging.