Thursday, October 6, 2011

Hi Everyone....

Looks like all traders had a nice day.  DJIA was up +183 points, penny market was moving, just an overall nice day to trade.

Unfortunately, I did not get to trade today except for closing out some options.  Kids are home and we had some stuff to do.  I'll catch the next big day!

Now, let's see what I closed out:

RIMM w $25 call .49/.35 10 contracts = -140 <----- this option hit .70 yesterday and I didn't sell...
YHOO w $17 call .23/03 10 contracts = -229 <----- I was punked on the MS rumor...
GS w $105 call .18/.02 10 contracts = -160 <--- have no idea why I bought this...saw it on a board....

BIDU w $110 call 1.70/6.20 5 contracts = +2,250 <----- this stinker closed at $11.00!!!

Total = $1,721

Monday = $1,860
Tuesday = $6,185
Wednesday = $875

Ok...what did I learn from these options?  Basically, you need to find and trade what works for you.  I traded GS because someone else bought it.  I traded RIMM and YHOO on news/rumor.  That worked out well as you can see.  As well as penny news/rumor works out!  And last, I sold BIDU too soon!  I need to follow the chart as I do with the stock.  After selling, I could of bought back in and played again.  In my defense, I was out today so I wasn't here watching it.  It was heartbreaking to see it hit $11.00 when I returned.

Trading is the only business you can make a couple of grand and still feel bad.........Last time, the $2,250 could of been $4,650.  'Sigh'

BIDU had an excellent day.  Lots of opportunities to make money.  Went from $113.01 and is trading at $121.15 a/h....wow....up $9.98 or +8.98%.  That is quite the pop.  I just love this stock.  Didn't get to trade it, but glad it had a nice day.

That's all I have......take care all.

sdh