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Sep 2nd Trading Log (Recap and Thu Trading)

 
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arthur
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PostPosted: Thu Sep 02, 2004 12:45 pm    Post subject: Sep 2nd Trading Log (Recap and Thu Trading) Reply with quote

Sep 2nd Trading Log (Recap and Thu Trading):

I bought heavy positions in EBAY puts, since EBAY may fall below 85 sometime before the Sep options expire. Also, I bought heavy positions in DIA puts and partially hedged those puts with INTC leaps. It's rumored the employment report tomorrow morning will beat expectations. Also, INTC's mid-quarter update was below expectations and INTC is down sharply in afterhours. Perhaps, there will be an opportunity to sell some puts, on big dips, tomorrow, and buy more SMH and INTC leaps. The semiconductors are the "canary in the coal mine." So, it's hard to believe, momentum will continue for overvalued non-semi techs, while the semis are falling even lower.

My portfolio is at $860,000 including about $460,000 in cash.

Calls Contracts

SMH Jan 30 2005 100
INTC Jan 22.5 2005 500
RMBS Jan 10 2005 10
PSFT Oct 17.5 2004 70
PSFT Oct 20 2004 100

Puts Contracts

DIA Sep 102 2004 600
DIA Oct 100 2004 200
DIA Oct 103 2004 200
OIH Sep 75 2004 270
OIH Oct 75 2004 20
OIH Jan 75 2005 20
EBAY Sep 90 2004 290
EBAY Oct 90 2004 100
EBAY Oct 95 2004 50
PSFT Oct 17.5 2004 10
PSFT Oct 20 2004 10

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