The market had tanked for the past 5 days and it had served me well as I had shorted the S&P500 eMini (ES). ES is a fast game and one can make or lose money fast. I would not encourage this play to anyone unless they have good discipline and strictly follow the rules of the game.
Anyway, I am getting a hard time looking for stocks to short for options play. Most stocks had tanked and I am not willing to long a stock in the current weak environment. Perhaps, the energy and commodities stocks will be providing good opportunity for long plays soon.
DELL
Closed my Aug 25 Put on Monday. Made 43.5% over 4 days.
Closed my sold leg May 25 Call for $0.10 on Wednesday. This is the repair strategy for my DELL 27.5 Call (which is now fully paid for (free + some profits) by my profits from the sold legs - sold twice).
HOT
Closed my Aug 60 Put on Monday for a profit of 26.7% over 3 days.
WYE
Closed my Jul 50 Put on Monday at a loss of 24.4% over 4 days.
XSNX
Still holding on. Target date to liquidate is still July 2006 (awaiting the outcome of their marketing campaign).
- PersianCat04 (Millionaire-in-progress)
Trade Like A Persian Cat reminds me that I should be like a Persian Cat, waiting for the right setup to trade and not act on impulse. This blog documents my trades, thoughts and reflections in playing Options in the US Market. "Bulls make money, Bears make money, Pigs Get Slaughtered, Cash is King"
Who Am I ?
Interesting Read
- Are You An Academician Or Practitioner?
- Are You Winning The Battle?
- Comic Strips
- Guidelines For Intraday Play
- How The Markets Really Work
- Jewish Holidays 2012
- Optionquest Online Game
- Play One contract only !!!
- The Average Investor Mentality
- The Market Cycle
- US Market Holidays 2012
- Who Are You Trading Against?
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