Opened trades on 3 new strangles

Posted by TheNightTrader on Tuesday, October 7, 2008 at 9:09 PM

All three stocks I outlined last night gapped up, and then sunk with the markets. Meaning I paid a bit of a premium for all the calls. The markets just keep feeling for a bottom, and so far no luck. Meanwhile I'm going to keep as fully invested as I can, because when the bounce comes it should be pretty powerful.


Today's Activity
Bought AAPL Jan 85P/110C - 1 contract for $23.10
- Entered limit sell for $25.55
Bought RIMM Jan 50P/70C - 1 contract for $13.70
- Entered limit sell for $15.20
Bought SLB Jan 60P/80C - 1 contract for $11.60
- Entered limit sell for $12.90
Sold MS Jan 15P/30C - 1 contract for $6.00, a net profit of $0.582 (10.7%) since Friday


Updates
FDX is back down on the lower bollinger band. I need about another 6% and then I'm out.

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