Matt's Trade Log - 9/4/08

Trades today:

• Sell 2 SPY SEP08 119/123 vertical put spread
• Sell 2 RIMM OCT08 125/130 strangle
• Sell 2 AAPL JAN10 150 call

AAPL has shown the sell signal so it is time to unload the long positions until things turn around for this stock, and pretty much every other stock I'm watching. However, this drop in all my stocks proved good for RIMM, as the huge drop merited me about a $500 gain on the strangle. Had I waited until today (8/5) I would have made even more. However, I'm content to lock in a nice gain on that trade.
With the overall market going down, I decided to sell another vertical put spread on SPY. I'm not bullish on SPY; rather, I'm trying to establish a low side of an iron condor position while SPY tries to find a support line.