Covered 300 shs of AMD @ 8.02
our short placed yesterday turns out to be a failure. covered short at our pre-determined stop loss px at $8.02
P&L - $70.50
Sold 60 shs of Citigroup at 3.40 to lower the delta for the put
Shorted 300 shares of AMD at 7.73
double top at $8.08 ?
failed to break above the January high at 8.25, and its consolidating below the 20 days EMA.
to be safe, didnt place any short order when it was still above $8.00
stop loss at $8.03
Bought 190 shs of Gap Inc (NYSE:GPS) at 19.85
Intraday pivot support level. Our June 21 Call has a delta of eqv to 190 shs.Delta hedged our short call done yesterday.
Sold 5 Gap Inc (NYSE:GPS) 100 JUN10 $21 Call @ 85 cents
GPS made changes to its management last week.
On negative side, seeing limited long term growth.
Vol is up and skew is down, seeing good opportunity to sell call now.
The call is currently unhedged at 40 delta. Might buy some shares to hedge it on friday.
Sold 50 shs of Citigroup (NYSE:) at 3.39
Citigroup rallies 4%, our Mar 10 $3 put has 22 days left and 17 delta.Selling 50 shares at current level (3.39)
Now remaining long 170 shares.
P&L $16.50
Bought 10 YAHOO! Inc (NASDAQ: YHOO) JUL10 $16/20 CALL SPREAD @ 76 cents
strong support at around 14.80 level ( double or even triple bottom ).
want to leverage on the possible upside so instead of buying the underlying, I am buying the 10 call spread (eqv to 1000 shs) for just $760
the breakdown of the trade
Bought 10 JULY 2010 $16 Call @ $0.87
Sold 10 JULY 2010 $20 CALL @ $0.11
Net Debit $0.76
Covered 100 shs of ArvinMeritor (NYSE:ARM) at 9.22
it refuses to crack below $9 for the 3rd time in 2 days..
it tested 9 dollars twice yesterday, and once today..
but quickly squeezed back to 9.30ish
I decided to exit with minimal profit and allocate my capital in other opportunites since my capital is very limited
P&L + 13
Shorted 100 shs of ArvinMeritor (NYSE:ARM) @ 9.36
looks very weak today despite strong overall market.
let's see if it will break below 9. If $9 is taken out, it could leg down to $8.45-$8.50..
very small position due to margin allocation..
Sold 10 Philip Morris (NYSE: PM) $46/$50 JUN10 Call Spread at $1.77
Philip Morris is releasing its earning tomorrow.
seeing $47 as a resistance and most importantly, it is not a good idea to bet on earnings in this volatile market.
wisely capture profit and leave
P&L + 240
