"Adjusted for Inflation, Dow's Gains Are Puny" WSJ
22 minutes ago
Tuesday, March 10, 2009
Long FAS at 3.17
I was stopped out of my QQQQ puts and went long FAS. Mark to market hearings and Citigroup being profitable for 2 months are very bullish for financials. We are overdue for a bear rally as well.
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4 comments:
PC,
Seems you totally changed your strategy of collecting option premium :) Do you think it is a good time to sell GDX puts?
By the way, today the FAS 2.5 call options were cheap, so I picked up 5 March contracts and hedged it with QQQQ april puts. They are so cheap. If market crashes, we become wealthy too :)
Smart - I'm having a lot of fun trading this way but I was thinking of writing some GDX puts myself. Good luck with your trades.
Like I said, I am a very active trader and my portfolio is almost complete now. bought to close the rimm puts for profit (I did it too early in the morning though) and switched to less risky deals. I am now at 10 contracts of FAS call options 2.5 strike March and 10 contracts of qqqq April strike $24 puts for hedge. I also sold 2 GDX 24 April puts + 1 DIG March 17 put. My major income is not from selling puts but with a sort of straddle strategy with two different stocks (FAS and QQQQ). It is based on a belief that we are at a short term bottom, but the problems will kick in again soon.
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