D I S C L A I M E R
Investing involves risk that each investor must assess individually. We are not licensed under securities laws and do not provide investment advice. Please read the full legal notice and disclaimer.
Monday, August 11, 2008
Matt's Trade Log - 8/11/08
Three trades today:
I exited positions on BIDU and FSLR as we are nearing expiration. My rules tell me that I should have exited those positions last week, as they were still out of the money last week and we were within ten days of expiration. In hindsight I should have done this, as I ended up not doing too well on each. In the case of BIDU, I sold the spread initially for $2.95 and bought it back today for $4.19, taking a $1.24 loss. In the case of FSLR, I sold the spread initially for $3.25 and bought it back today for $3.20 for a slight $.05 gain, which was surely wiped out by commissions. Of course, in both cases I also have vertical call spreads on the high side which may make each position an overall winner.
Good advice I read today, from Red Option - I generally shouldn't be staying in a position that I wouldn't buy into today. I don't intend to take that advice wholesale, but it is a good thing to think about. I may reevaluate some of my positions and adjust soon.
- Sell 1 GOOG SEP08 460/480 vertical put spread
- Buy 1 BIDU AUG08 300/310 vertical put spread
- Buy 1 FSLR AUG08 240/250 vertical put spread
I exited positions on BIDU and FSLR as we are nearing expiration. My rules tell me that I should have exited those positions last week, as they were still out of the money last week and we were within ten days of expiration. In hindsight I should have done this, as I ended up not doing too well on each. In the case of BIDU, I sold the spread initially for $2.95 and bought it back today for $4.19, taking a $1.24 loss. In the case of FSLR, I sold the spread initially for $3.25 and bought it back today for $3.20 for a slight $.05 gain, which was surely wiped out by commissions. Of course, in both cases I also have vertical call spreads on the high side which may make each position an overall winner.
Good advice I read today, from Red Option - I generally shouldn't be staying in a position that I wouldn't buy into today. I don't intend to take that advice wholesale, but it is a good thing to think about. I may reevaluate some of my positions and adjust soon.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment