Monthly Archives: September 2011

Wrote more covered calls of BIDU

Posted on September 27, 2011 by admin

Bought BIDU and sold BIDU calls (BIDU Sep 30 2011 125.0 Call).  Cost: 122.4.  2% return in 3 days, if BIDU stays above 125.      

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Market Condition: range bound, cautiously bullish

Posted on September 24, 2011 by admin

Schaeffersresearch.com: Reasonably bullish as the indexes are trading at the bottom of the range and right above major supports.  “With equities pulling back to potential long-term support areas as negative sentiment continues to grow, now is a good time to … Continue reading →

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Wrote more covered calls of NFLX

Posted on September 21, 2011 by admin

Cost:$122.5/sh.  Strike: Oct $140.

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Market Condition: range bound, cautious. Levels to watch, DJIA 11577, SPX 1225, COMP 2652, VIX 30

Posted on September 17, 2011 by admin

Schaeffersresearch.com: Chartadvisor.com: Both websites are painting a similar picture: while the last week’s market movements is positive, the indexes are still within a trading range.  Most of these indexes are approaching the higher end of the trading range, making it … Continue reading →

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Wrote more covered calls of NFLX

Posted on September 16, 2011 by admin

Bought NFLX and sold NFLX calls (Sept 23, $160), net cost: $153.42/sh.  Potential return (if NFLX stays above 160 by Sept 23rd): 13.7% in one week.

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Roll Up

Posted on September 15, 2011 by admin

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 →

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Added more FFIV and MCP shares today

Posted on September 12, 2011 by admin

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.

Posted on September 10, 2011 by admin

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 →

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Rolling up my options.

Posted on September 9, 2011 by admin

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

Posted on September 7, 2011 by admin

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 →

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