Cease all equity trading and liquadate all holdings to comply with my new firm’s compliance policy. Can continue to trade FX
Covered 500 sh of Qwest at 3.76
P&L – $80
All equity trading will be ceased due to compliance policy at my new firm.
However, I can continue to trade FX
Sold 200 shares of Marvell Technology – Nasdaq: MRVL @ 16.21
formed a doji yesterday followed by today's weakness
i decided to take profit today and might re-add my position later at a lower level
P&L + 180
Shorted 500 shares of Qwest Communication at $3.61
Qwest Communications International – NYSE:Q
Action Taken: Shorted 500 shares of Q at $3.61
Rational : It has a hard time to break above $3.61 resistance (50 DMA) , $3.60 (20 EMA) . OBV is trending down.
Targetting : $3.00
Sold 2 Estee Lauder NYSE:EL Nov 45 Call at $1.95
Estee Lauder – NYSE: EL
Position: Long 2 November $45 Call
Action Taken: We closed our position at $1.95
Rational:
EL has been up for 5 consecutive days and Williams% is suggesting it is at the overbought territory.
There are 14 days left in the option (10 trading days) and the time decay is taking away $6 per day .
We believe that this rally could be running out of stream and it is at our best interest to lock our profit as the overall market is not being strong today.
P&L : +$265
Close the remaining of the calendar spread on JPM
Close the 41 put Nov/Dec caldendar spread at 92 cents credit.
in essense
Bought 2 Nov 41 Put at $1.10
Sold 2 Dec 41 Put at 2.02
Total P&L for the whole calendar spread is $113
Breakdown below:
Sept 16, 09: Sold 5 Oct , and bought 5 Dec 41 Put for $1.26 = Costed $630
Sept 23, 09: Sold 5 Nov, and bought 5 Oct 41 Put for $0.62 credit = Received $310
Oct 31, 09 : Sold 3 Dec, and bought 3 Nov 41 Put for $0.83 credit = Received $249
Nov 3, 09 : Sold 2 Dec, and bought 2 Nov 41 Put for $0.92 credit = Received $184
