Profitable Trade: GDX Naked Puts

Today I closed and took profits in the following transaction in a taxable account:

12/30/2011    STO 3 GDX Jan 21 2012 48 Puts @.5               137.71
01/12/2011    BTC 3 GDX Jan 21 2012 48 Puts @.02               -6.04

We made $131.67 in 12 days on a margin maintenance requirement of ~ $2300. This equates to a return on margin of 5.7% or 173.3% annual. This account is now all cash and we're waiting for the next opportunity. The market is feeling toppy but as we've learned we will let the prices come to us and not chase trades just for the sake of trading.