3SOF

Aye yuy yuy...the RIG and AAPL calls are getting brutalized.  Wouldn't be surprised if I end up having to just take them as an early write-off for 2008 

In the meantime, I'll have to just play opportunities as they come...such as SOLF.  Solars are getting crushed today, and SOLF was down as much as 20% this morning, so...

Today I made the purchase of:
Five (5) QFGAG: SOLF Jan 2008 CALL 35 strike.  Purchased at 1.75, transaction cost $875.
Objective: 3.50, or +100%

The company seems sound to me, and people may have just hit the panic button short-term.  I can't really see this one going out for a loss.

Current positions:
10 VOHAT at 2.50
2 APVAB at 4.75
5 RIGAJ at 1.75
5 QFGAG at 1.75

RIG has made a huge turnaround thus far.  For the record, I only have around $20,000 equity in the account that houses my option trades, so daytrading is out most of the time.  If I exceed my target intraday, it becomes my stop as of the following session.

Today I made the purchase of:
Five (5) RIGAJ: RIG Jan 2008 CALL 150 strike.  Purchased at 1.75, transaction cost $875.
Objective: 3.50, or +100%

Now, I've probably already paid too much for these contracts, as the stock is in process of moving down.  However, given the fact it's still slightly positive in all of this weakness, I'm comfortable with that.  Stock opened today in the 146's; I think on a neutral to positive day, it'll move back up there in a hurry.  The closer oil gets to 100 bucks, the better it looks for RIG.

bjc's on to something with those RIG LEAP calls.  Will probably join him in the coming weeks.


Current positions:
10 VOHAT at 2.50
2 APVAB at 4.75
5 RIGAJ at 1.75

Haha, thanks!  A little friendly competition around here is in order!

Today I made the purchase of:
Two (2) APVAB: AAPL Jan 2008 CALL 210.00 strike.  Purchased at 4.75, transaction cost $950.
Objective: 9.50, or +100%

Just hoping for a little bit of a bounce after the new year.  Figure there has been some tax selling pressure here on low volume and would like to see the uptrend continue following the holiday!

Last three trades:
QQQLY: +443%
QQQLW: +114%

Sold: Thirty (30) QQQLY at 0.76, transaction of $2280.  Gain $1860, or +443%.


Probably calling it quits until after the holiday; make it a good one, everybody 

Current positions:
10 VOHAT at 2.50

Last three trades:
QQQLY: +443%
QQQLW: +114%

These solar plays amaze me...from the big to the small, they've all been unstoppable 

Well played bjc; keep a stop on 'em!

Morning gix; well, for me anyway 

Thanks for reading.  As you stated, yes, I'm basically using a strategy focusing on leap calls with very short-term call/puts to hedge. 

I actually mentioned that I was NOT going to be seeking an objective target, but may decide to do so in the future.  Just don't really feel like keeping track of it just yet...maybe a New Year's resolution!  If I were to attempt such a strategy, I would likely use a model similar to what I do now: seek a double on the trade, and once achieved, set a trailing stop to maximize potential gains.

You might be a little late on the LDK put if you didn't get in before yesterday's drop.  If you did manage, congrats  ;  you're probably sitting on a nice gain.

The last of my Q contracts expire today, so I'll be out of 'em by the close.  Looks like I beat my target by a long shot on that one.

Good luck to you! 

I hold RIMM common and played the Q contracts for the earnings release, which are going to make a killing tomorrow.  Looks like you're going to make some green in that RIMM contract.  Congratulations!   *Applause*

Get those RIMM positions in place!  Regardless of which way you think it's going to go, it promises to be a market mover 

Sold: Ten (10) QQQLW at 1.69, transaction of $1690.  Gain $900, or +114%.

Current positions:
30 QQQLY at 0.14
10 VOHAT at 2.50

Last three trades:
QQQLW: +114%

Adding a VERY short-term position today.

Today I made the purchase of:
Thirty (30) QQQLY: QQQQ Dec 2007 CALL 51.00 strike.  Purchased at 0.14, transaction cost $420.
Objective: 0.28, or +100%

This is actually my version of a play on RIMM earnings after-hours today.  Expecting a good quarter out of RIMM which I'm expecting to lead a nice Naz rally tomorrow. 

Current positions:
30 QQQLY at 0.14
10 VOHAT at 2.50
10 QQQLW at 0.79 (likely to be sold today)

Anyone have a take on ORCL going into earnings this afternoon?

Adding a much longer-term position today.
Today I made the purchase of:
Ten (10) VOHAT: Rio Jan 2009 CALL 50.00 strike.  Purchased at 2.50, transaction cost $2500.
Objective: None; just make money!

Buying these leap options give me the opportunity to just let these ride the ups and downs of the upcoming year.  I'm a big fan of RIO and they have treated me well over the years.  Will hold these contracts as long (or as little) as needed for them to become profitable.


Current positions:
10 VOHAT at 2.50
10 QQQLW at 0.79

EDIT: Just editing some funky wording.

I'm still kicking myself for not moving on this jump.  I checked the 7.50 Dec puts when this thing spiked immediately after that news...less than 0.30/contract.  The first thing that came to mind was "these things are a goldmine."  Now almost 1.20.  Oh well.  DNDN can be dangerous for shorts due to that large short interest.  If you DO dabble in the options, you have to watch it VERY carefully.

Probably right. Thanks setravis