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Aug 30th Trading Log (Recap and Tue Trading Plan)

 
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arthur
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PostPosted: Mon Aug 30, 2004 12:58 pm    Post subject: Aug 30th Trading Log (Recap and Tue Trading Plan) Reply with quote

Aug 30th Trading Log (Recap and Tue Trading Plan):

Basically, I took advantage of volatility to sell weaker puts and buy stronger puts, and buy calls. Volume continues to be low. Perhaps, SPX will test 1,080 (see "Market Overview"). Buyers may be waiting for 9/11, the next Fed announcement, and the completion of the Republican Convention. Also, I expect "window dressing" over the next few weeks. So, stronger stocks may be bought on dips. The intermediate-term indicators are bullish. So, I plan to buy long-term calls on dips and hedge with short-term puts on bounces over the next few weeks.

My portfolio is over $895,000 including $760,000 in cash.

Calls Contracts

SMH Jan 30 2005 150
INTC Jan 22.5 2005 200
RMBS Jan 10 2005 10
PSFT Oct 17.5 2004 100

Puts Contracts

QQQ Oct 35 2004 100
OIH Jan 80 2005 10
EBAY Sep 90 2004 20
EBAY Oct 85 2004 20
PSFT Oct 17.5 2004 10
SBUX Sep 45 2004 20

Portfolio at $500,000 on Jul 1st, 2003
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