How long $3000 will last option trading

Quote from skanan:

Every time, I had to get up at 6:30 to deal with stock/options, it's a bad sign for me. It is a good indication that the trade went wrong. [/B]
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That's bad, but the worse situations are the ones where you can't even get to sleep.
 
SOLD -1 VERTICAL AMD 100 FEB 06 35/32.5 PUT @.55 CBOE, AMD MARK 37.28

I sold this after the earning results which put the stock up $3.87.
 
This GOOG is really a fiasco for me. Today news about investigation caused the stock to drop more to about $435. I decide to get out of the Feb vertical spread.

Bought back Feb 410/400 put for $3.05. Overall, the profit of goog Feb spread I had earlier is washed out with this buy back.

Previously, I sold Jan 390/400 put for $1.35
Bought back Jan 400 put for 0.05.

Total realize profit on goog is $135 minus about $17 commissions (11 trades).
 
Sold GOOG Mar 460/Feb 490 Call spread for $8.9.

Goog was about $422 which is below my stop loss $430. I should have bought this back earlier but was busy with work and can't monitor the market. I loss on this trade $19.3 - $8.9 = $10.4 -> $1040. This pretty much wipe out all the profits I got in last two expirations. I'll tally all the number on the weekend to see if I come out positive or not.

This trade does not disturb me emotionally. At least this is one thing I gain. I planned it and know my loss in advance. When it goes against me, I just executed my plan.

I might try goog again if it drops some where near $400.
 
good (I accidently typed in goog:p) trade.soooo much better getting out of the way of the freight train....taking your time over the weekend to analyse is also smart. You have a good sense of this stock and I think will figure out a good re-entry.
Quote from skanan:

Sold GOOG Mar 460/Feb 490 Call spread for $8.9.

Goog was about $422 which is below my stop loss $430. I should have bought this back earlier but was busy with work and can't monitor the market. I loss on this trade $19.3 - $8.9 = $10.4 -> $1040. This pretty much wipe out all the profits I got in last two expirations. I'll tally all the number on the weekend to see if I come out positive or not.

This trade does not disturb me emotionally. At least this is one thing I gain. I planned it and know my loss in advance. When it goes against me, I just executed my plan.

I might try goog again if it drops some where near $400.
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I was very busy from work and did not have time to post. I haven't even tallied the result of last expiration yet.

Here is the trade I made this week.

01/23/05
BOT +1 DIAGONAL SPY 100 MAR 06/FEB 06 124/125 PUT @.50 ISE, SPY MARK 126.77

Reason: SPY dropped.

01/24/05
SOLD -1 VERTICAL SPX 100 FEB 06 1205/1190 PUT @.50 CBOE, SPX MARK 1266.87

01/25/05
SOLD -1 VERTICAL AMD 100 FEB 06 35/32.5 PUT @.50 CBOE, AMD MARK 37.24

Reason: AMD dropped sharply

BOT +1 DIAGONAL SPY 100 MAR 06/FEB 06 130/129 CALL @.40 ISE, SPY MARK 126.13

Reason: SPX dropped about 10 points.

SOLD -1 VERTICAL VLO 100 MAR 06 52.5/50 PUT @.50 ISE, VLO MARK 58.29

Reason: VLO dropped from 61 to 58.

01/26/05
BOT +1 VERTICAL AMD 100 FEB 06 35/32.5 PUT @.20 ISE, AMD MARK 40.408

Reason: lock in the profit, AMD rose from $37 to $40.4 from yesterday. I consider profit $30 in one day good enough. I plan to wait for AMD to drop again to sell spread.
 
Results of 01/20/06 expiration:

These stuff expire worthless

(-put = credit put spread)

Cop 75 call -$60
XOM 65 call -$100
SPX 1175/1165 -put $45

spy 123/121 -put n/a
spy 125/123 -put n/a
spy 125/124 -put $20

vlo 2X 50/47.5 -put $100
brcm 47.5/45 -put $85
aapl 70/67.5 -put $60

The spy 123/121 and 125/123 came from multiple adjustment so I'll put it in Jan result later.
 
I found that it is difficult to keep track of these trades I made so I created spread sheet instead. Also, instead of reporting total P&L each expiration, I'll put it in at the end of the month.

Here is the summary

Start Dec/05 -300 from lost in OEX
121/05-12/31/05 profit $1015. So after -300 lost, the profit was $715

01/01/06-01/31/06 profit $5. The lost on goog diag is about $1000 so it wiped out the profit for the whole month.

Total profit so far $720.

I included detail in spread sheet. I have to learn how to use excel to extract data for each month to produce report rather than writing fomular to extract data.
 

Attachments

01/19/06
Sell AAPL Feb 80/75 put spread for -2.8/1.1 = $1.7 credit

01/31/06
Sell AAPL Feb 75 put $2.1, profit $100

Now I'm naked Feb 80 put AAPL.

2/1/06 10:37:13 SOLD -1 VERTICAL VLO 100 FEB 06 57.5/55 PUT @.35

Reason: VLO dropped about $2 to $61.08

2/1/06 12:25:18 SOLD -1 VERTICAL AMD 100 FEB 06 40/37.5 PUT @.50

Reason: AMD got downgrade but the stock rebounded to positive. ($42).
 
Congratulations. Despite GOOG, you're still net positive.

Quote from skanan:

I found that it is difficult to keep track of these trades I made so I created spread sheet instead. Also, instead of reporting total P&L each expiration, I'll put it in at the end of the month.

Here is the summary

Start Dec/05 -300 from lost in OEX
121/05-12/31/05 profit $1015. So after -300 lost, the profit was $715

01/01/06-01/31/06 profit $5. The lost on goog diag is about $1000 so it wiped out the profit for the whole month.

Total profit so far $720.

I included detail in spread sheet. I have to learn how to use excel to extract data for each month to produce report rather than writing fomular to extract data.
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