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Author Archives: admin
Roll Up
Monthly options for Sept are due to expire tomorrow. The following are what I did: BIDU: (options spreads) bought to cover BIDU Sept 2011 $105 strike and sold Mar 2012 $110 strike for $3/sh credit. The net gain on this … Continue reading
Posted in Today's Trade
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Added more FFIV and MCP shares today
I believe the markets are trading near the lower end of the trading range. To take advantage of this weakness, I wrote more covered calls for FFIV and MCP, with a bullish bias (i.e., the calls I sold have out … Continue reading
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Market Condition: range bound, slightly bullish.
Schaeffersresearch.com: “Our takeaway is that this is a market that has the proper sentiment backdrop for a major V-bottom, but the technical backdrop is not as supportive. So, in the absence of a catalyst, the pressure to unwind bearish bets or … Continue reading
Posted in Market Condition
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Rolling up my options.
Today is the last trading day for the weekly expiring options. I did the following trades. SLW. I bought SLW 2 days ago and wrote calls with a strike of 39. Today SLW is above 39. I like SLW and … Continue reading
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I wrote a covered call of SLW today
Today’s trade: Bought SLW at $39.58/sh, sold SLW calls, expiring Sept 9th, strike 39, for $1.19. Net cost to me: $39.58 – $1.19 = $38.39/sh. If SLW price is above $39 by close this Friday (3 days), my profit is … Continue reading
Posted in Daily Journal
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Market Condition: cautiously bullish
Schaeffersresearch.com: although the market has been miserable, there are signs of a market bottom: VIX stayed below 50, hedge fund appears to be buying again, etc. They even recommend investors to “dip your toes into highly shorted equities that are trading … Continue reading
Posted in Market Condition
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Market condition: bearish near term, long term bullish.
Schaeffersresearch.com: the markets now look pretty bearish. However, there is some hope: VIX is still below 50 (a critical area to watch). Chartadvisor.com: bearish. My take: the markets remain very choppy. The real question is whether we have hit the bottom … Continue reading
Posted in Market Condition
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Rolling up MCP option due to expire tomorrow.
Along with the global weakness again, MCP dropped more than 5% this morning. In one account, I have MCP ($50 strike) expiring tomorrow. I rolled it up (bought MCP $50 Aug 20 and sold Sept. 17 $50) with a credit … Continue reading
Posted in Daily Journal
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Adding more BIDU positions, taking advantage of this weakness.
BIDU is showing some weakness due to some negative reports. BIDU is a good stock with very strong chart pattern. This weakness is a good chance to add more positions which I did. Bought BIDU and sold calls (strike $135, … Continue reading
Posted in Daily Journal
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CRM: roll up before earnings report.
CRM will release its earnings report on Aug. 19th (Thursday). I own CRM. What should I do? CRM has been trading the $140-150 range prior to this recent downturn. The call option (part of covered call) that I am short … Continue reading
Posted in Daily Journal
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