Friday, March 13, 2009


You know this rally aint continuing... SOLD FAS @5+. AND bought FAS july 4 puts@1.35. nice window for an option that can get in the money next week...

Anyway, i am not a huge fan of options, being that i am not as swift to grab profits. for example i held FAZ Mar 35 puts (originally bought @.60)... ended up missing the gap sell @2.0 on tuesday... it stopped out on wednesday @1.1 (still a profit)... only to find it 2.4 on thursday and today it peaked 3.3 (when i happen to be awake). as you see the following would have been plausible

TUES: sell FAZ on a stop >2
WED: re-buy WITH profit same option
THU: SELL or hold into Fridays last gasp.

And there you have it 800%+ gain. but nope, i end that specific trade 66% profit. options are fleeting...

ANYWAY, FAZ is calling again, and wouldnt you know it i happen to be awake this time and found it <39 (an obvious buy). BUT i flinch and let that slip... HOWEVER, may still get it at the closing bell...

i bought a few FAZ @40.+(1/2 position)

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