A trading journal site following the in's and out's of the trading day through my eyes. Market sense and commentary. In no way should this be interpreted as a site for recommendations or stock picks. If you treat it as such, do so at your own risk and may God have mercy on your soul.
Thursday, October 06, 2005
Closed out the Oct 39 Puts
Today the market rallied in my favor, which was basically a day of all red on my computer screen. The Q's dropped around $0.80 today to hit a low of $37.92 only to make a decent pop back up to close at $38.32...only $0.44 down. However, this move gave me some nice profits that I finally did cash in on. I sold my puts for $0.90 for a $0.45 gain overall. I tried to get out when the Q's were tanking and QQQVM was $1.15/$1.20 but as usual I waited to long and then lost another 20 cents or so. However, it's a good gain and as previously noted I was down big earlier this week. Nice comeback and perhaps a lesson learned. STOP OUT instead of hanging on.
Tomorrow should be interesting and I may just hang by the sidelines. Good trading!
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