Current Positions – May 6, 2009
I know the format is ugly, but I’m short on time this afternoon. Here are my short and long options and the one long stock I’m holding. The time value of what options I have remaining adds up to $1,101.00
I’m still underinvested for this rally, but continue to question its longevity and therefore continue to miss potential profits. At some point I’ll get in deeper with smarter trades (SLB is still questionable from Monday). Most of what I’ve been checking on either looks like its charting at the top of its trading channel or the premiums don’t look worth the trade. I go through waves like this and then find a lot to invest in if I don’t force my trades too soon. So, that’s where I sit now, trying to be patient and wait for my trade.
| Long Options | ||||||
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Time Value | |||
| +XLBQS | 5 | XLB May 19 Put | -$20.00 | |||
| +GLDQG | 3 | GLD May 85 Put | -$60.00 | |||
| +DAVEE | 6 | DIA May 83 Call | -$480.00 | |||
| Short Options | ||||||
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Time Value | |||
| +XLBQV | -5 | XLB May 22 Put | $20.00 | |||
| +UBOQZ | -4 | USO May 26 Put | $20.00 | |||
| +UFBQS | -4 | FWLT May 19 Put | $40.00 | |||
| +NQDQD | -5 | NDAQ May 20 Put | $200.00 | |||
| +SLBRI | -2 | SLB Jun 45 Put | $130.00 | |||
| +GLDQJ | -3 | GLD May 88 Put | $225.00 | |||
| +DAVED | -6 | DIA May 82 Call | $240.00 | |||
| +SLBFK | -2 | SLB Jun 55 Call | $642.00 | |||
| +JJOEJ | -3 | JOYG May 25 Call | $144.00 | |||
| Long Stocks | ||||||
| JOYG | 300 | JOY GLOBAL INC COM | N/A | |||
Unrelated, yesterday I went to lunch with fellow Atlanta investing blogger, Zach Scheidt, who writes Zach Stocks and definitely think you should check out his site. We have a lot of similar opinions on investing and think all of us could stand to learn a lot from his site. We started blogging around the same time and have watched each other’s sites grow as our accounts have attempted to do the same. He mixes in fundamental and some technical analysis in an easy to follow writing style.
Comment by Kadena
i’m sorry it’s been so long since my last comment. i hope all is well. i’m a bit bummed lately because i have begun the process of closing my etrade and thinkorswim brokers. already transfered money from etrade to my bank account and closed all positions in thinkorswim in preparation to take the money out. i simply lost too much in options. i’m admitting failure. i’ll still follow this blog though for curiousity sake. and my extra money from working will just pile up without knowing what i’m going to do with it… my wife wants to buy a home (i’m still overseas) and i want to set aside cash for retirement (that i won’t burn up!) talk to you later… work is murder, pardon the term.
Comment by Alex Fotopoulos
Kadena, I’ve been wondering if you were still trading or investing with options. I feel for you having to closer your account and respect that you recognized your limitations, especially being on the other side of the world. Thanks for serving and stay in touch.
Comment by Joe
The market in general should be looked at as a rigged game (Fed, Banks, Wall Street crooks, you name it). It is tough to make high probability trades when the rules aren’t really the rules. I have “Macro” money where my 401K funds are conservative and invested for my most realistic macro view of the world. And, my Vegas money for playing the options market and rolling in the mud with the crooks on Wall Street. By the way Kadena, are you in Kadena (Okinawa)? Been there, done that…use to play with the 12th and 44th.. Regards