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I didn't make any new adjustments today. Right now the market seems to be at a standstill waiting for JP Morgan, Google, GE, and C which all report on thursday and friday. If we close above 470 (convincingly i.e. 475+) then I will go ahead and add additional calls as that would convince me...

We printed 469.59 so essentially 470. So this is pretty key as we are at my upside target. So my assumption is that the upside move from here is limited, maybe a quick overshoot to 475ish but we should head back towards 430-435 for some profit taking, we'll see I guess. Last thursday I sold...

Yes I did make a couple small adjustments today. Going into earnings season my thought process was that we would most likely see a bounce off the 20 day avg and start to head towards 470 on RUT as earnings would come in slightly better than expected.....which is what is occuring as we are very...

Went with a leaping covered call on AA. See how it works out, just playing around with some change :)

The jobs report seems to be a non event. Earnings start next week, and the market is still holding. I'm trying to see if maybe its just a matter of driving this thing up to 470 and then the selloff begins. But we'll have to wait and see. In the meantime I went ahead and adjusted the...

Yes unfortunately once we go over 450 the flood gate to losses open up. We're sitting on 450 right now so I'm going to slowly start adjusting. Today I added the following: bot jun 440/450 call @ cost of $532.36 I still believe that there is heavy resistance around 470 which should be...

So I've been rethinking my contribution to my 401K. Since my wifes company no longer matches 401K contributions would it be better to stop contributing to the 401K and instead take the extra money that was going into the 401K and instead start paying down the mortgage on our rental property...

Its been a few days since I updated the journal so figured I'd add a little something here if nothing else to update the gazillion positions I have open right now. So I've been whining that we need to see some sort of a pullback to digest some of these gains. Today we got a pretty nice one...

SUCK IT Dimon you worthless POS. NEW YORK (AP) -- New York's attorney general has pressured Chase Bank into ending what he said was an "illegal" $10 monthly fee imposed on thousands of credit card accounts last November. The bank has also agreed to give refunds totaling $4.4 million to...

Market is still heading higher. We're in that first possible reversal point between 440-450. So if we don't reverse here then we'll probably see a quick move to 470 and perhaps 500 but I still believe the move should be capped by the falling 200 day EMA thats around 530. So I am still waiting...

Thanks for the comment. Just when I think I have the market in my grasp, something new and weird happens that turns everything on its head, I guess thats what keeps it exciting! :)

Looks like we still going higher on this rally off the lows. Next level to watch would be the 440-450 range. My expectation right now is that we have some more to go higher but we will start to pullback and settle into a range for some consolidation. Luckily I still have 8+ weeks on all my...

Heres a list of my current open positions that are going into April cycle, note I added another jun 380/390 call position today: OPEN POSITIONS bot may 370/380 call/short may 38 iwm call@ cost of $168.06 bot may 370/380 call/short may 38 iwm call@ cost of $188.06 bot may 360/370 call/short...

I'm glad I got the heck out of those remaining 2 put positions on wednesday rather than waiting till today. Nice pin action on IWM to stick it right around 40, gotta give those MMs some props. Anyway here are the closed positions in the March cycle and an update on the current return...

I unfortunately did not have much time to do much with the market this afternoon. I did open the following put position this morning: bot jun 450/440 put/short junQ 44 iwm put @ cost of $118.54 I am still looking to do an adjustment on my 320/330/33 jun call position but I didn't have...

Yeah thats why its hard to judge what the impact of the Alt-A resets will be. If there was a way to determine what index those Alt-a and payoption arms were tied to then it would be easier to figure out if this is gonna be a mess or not. My ARM is tied to the CMT and it adjusted down to 4.25%...

Well this was an entertaining cycle. We went from nose diving to basically being right back to where we were when the option cycle started on Feb 23rd. Alas I'm saying bye to March and looking forward towards april (I don't have any positions expiring in april but I may close some junes...

Oh joy, I'm the proud owner of 200 shares of IWM. I got early exercise on my march 47 and 48 iwm put. I'm bringing it up because people were probably wondering "what happens if you get early exercise on your puts and calls?" Well the answer is NOTHING :) At this point with a couple of...

We are pretty overbought still, although we got a small pullback today I'd expect a little more profit taking before we attempt a real sustainable rally over 400. Otherwise we may have a new trading range between the 340 and 400 level that could last until april. I am still holding my...

I'm not so much worried about the war with China as...frankly how the hell would the US fund a war against the country that financially supports it. My concern is at what debt level does China start affecting US policy....ie if US decides to go and start a war in Iran but China doesn't want to...