Today’s trade

Posted on April 18, 2011 by admin

The market went down today, but it is still within a trading range.  Here are my trades today:

  1. Bidu spread: bullish bull debit spread call, 135/140, weekly expiring in 4 days.  Cost: $4.5/pair, if Bidu stays above $140 by the end of Thursday (Fri is a holiday), the profit is $0.5.  Bidu has been trading above 140 most of April.
  2. PCLN: bullish debit call spread (long call strike 500, short call strike 505, cost: $3.8/pair, potential profit: $1.2, weekly expiring in 4 days).  PCLN has been trading above 505 in entire April.  Currently at 516.78, strike 505 is 2.3% in the money.  I hope that PCLN will not lose more than 2.3% in 4 days.
  3. NFLX weekly (bullish bull debit spread, 225/230. Cost: $3.5, potential profit, $1.5 in 4 days.  This trade is a bit riskier than the other 2 trades.

About admin

Richard Cheng, M.D., Ph.D., is an avid Wall Street investor with 20+ years of investing experience. He is specially adept at observing the world to find the patterns and then design strategies to win his battle. Most, if not all, happenings in the world, follow certain patterns. These patterns may be complex, multi-factorial, not so intuitive at the first glance, or even may appear chaotic. However, even chaos has its own patterns. If you pay attention and be patient, you'll find them and then you will gain an upper hand in your battle. Using this blog space, he documents his trades and his thoughts as they happen. He uses this blog as a a notebook to help him better refine his strategies. Hopefully this will help you as well. Good luck in your trading.
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