You know what they say " Buy the pull backs, sell the ralley"
I am closing the following positions:
1) 10 short puts on RIMM @ $60 strike Sep 09 expiry. Sold at $3.10 and bought back at $2.17 for a 30% gain.
2) 10 short puts on MSFT @ $17 strike Octt 09 expiry. Sold at $0.58 and bought back at $0.50 for a 13.79% gain.
3) 10 short puts on AA @ $7.5 strike Oct 09 expiry. Sold at $0.67 NS bought back at $0.56 for a 16.41% gain.
I continue to hold my 10 short puts on GE at the $11 strike with Sep 09 expiry. I am up about 62% on this position so far. I am going to take this one all the way to the bank. I sold them orignally for $1.56 per contract and they are currently trading at $0.59 per contract. This is my only position open. I will be very limited on positions I add to my account over the next few months as I finish the training for SMB capital.
Congrats on your nice gains...
ReplyDeleteThe rally may have longer legs so as tempting as it may be to sell my high fliers into this rally I think we may be headed higher.
BTW- Did you already start the SMB capital training? Is the training online so you can work remotely?
The training is online. I will start the remote training on Monday June 8th. I pushed it back one week as I am almost done with my condo remodel and I also wanted to start with the new college recruits that will be training in house.
ReplyDeleteGotcha... ThanX. Guess you can fit this into your day job huh? Best of luck and I'll be following your progress on your blog.
ReplyDeleteYes, I am pretty fortunate to be able to pursue my trading while maintaining my day job. But to be honest with you, I can not wait until the day I make the trasition to full time trader. My goal is to do this in about a year and a half.
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