I didn’t trade much this week. However the acct is up about 2%. It seems funny to make more trading in a week than I make in a month teaching skiing, and not being at the desk. I have a fair amount of capital at work (25%), mostly in the form of calendar spreads. Jan/Feb and Jan/Mar.
I have been making small adjustments during the week, usually in the morning 7:30 -8:30 before heading to the hill. And then monitoring positions via Blackberry. I have been seeing alerts and confirmed trades. I haven’t been seeing any screaming deals to make, but I have been building positions if I get the right price with the right chart action.
I wanted to go into the week week with alot of positive Theta. Basically since last thursday I was holding about 250 theta points per day, and I was going in short Vega. This has been a good combination since the week ended about where it started, and Vol dropped.
I did add to a few positions on monday and tuesday as I go the right price on a few trades.
Here are a few this week:
AIG – I am now holding 8 units of the Jan/Feb 55p calendar from .53
BBBY – I have 8 units of Jan/Feb 30p from .30. The spread came in more today. I may pick up more if I can get the right price.
C- 2 units 27.5p Jan/Mar and 4 units 32.5c Jan/Mar
ADCT – 5 units jan/feb 17.5p, I sold 1 unit on wednesday for .30.
I am short of:
HNT – up
ZMH – up
ACS -exited 1 of 2 position for a .20 loss.
I am in the middle of my trial with OptionGear from the Hubb corporation. It is a good options package, but in comparison to ThinkorSwim’s ThinkDesktop…
TOS is the best option broker by a mile. The Think Desktop is an amazing piece of option analyzing and order entry software. Why would I pay $2000 for an inferior product, when TOS gives me their software for just being a client?
If one is an option or stock trader, TOS is the simply the best.
I am looking forward to a great ’08. However, if Breck SS sups adds more controls to my job, I may be available on a Private lesson only basis. I love teaching/coaching, I just don’t like the BS that can come with jobs. Can you relate?
I have been on the hill and away from the desk.