During times of turbulence, Options are a good Option

Update on yesterday's strangle/straddle experiment:

LEH - sept strangle; cost = 1.6; today = 2.31; gain = ~44.4%
- sept straddle; cost = 2.9; today = 3.82; gain = ~31.7%
- oct strangle; cost = 1.89; today = 2.32; gain = ~22.6%
- oct straddle; cost = 3.06; today = 3.86; gain = ~26%

WM - sept straddle; cost = 1.06; today = 1.25; gain = ~17.9%
- oct strangle; cost = 1.54; today = 1.42; loss = ~7.8%
- oct straddle; cost = 2.03; today = 1.8; loss = ~11.3%

Average gain = ~17.6%

Note: I covered my position in PCH for a ~5.3% gain this morning.

Good trading. Good luck. Take responsibility.