ESRX looked good and I traded a Bear Call for 1.00 credit late yesterday.

24-Jun ESRX 2 BEAR CALL 65 - 70 JUL 1.00.

Latest update, MHCP is getting into congestion area and it cannot break free to the downside, I will consider to close out the trade but we may see market trying to pullback before another attempt to move down. Will have to see what happens.

CAT was bouncing up from support and i closed out CAT position for - 0.03 at 3.72.

CMCSA continued lower near to previous low and I close out 1 of 2 contracts at 3.40 for about gain of 2.37 (230% profit)

The market continues to be weak and I have put in some trades yesterday as below. The stocks are mostly going lower and there is no opportunity for uptrending stocks at the moment so most of them are on the bearish trades.
Date Stock Unit Strategy Strike Pr Expiry Price
23-Jun ALTR     1 PUT                 22.5       SEP   1.85
23-Jun MCHP    1 PUT                 30          OCT  2.08
23-Jun AIG        1 PUT                 32          AUG  3.15
23-Jun ERTS     2 BEAR CALL  55 - 50   SEP 1.27
23-Jun BNI        2 BEAR CALL 110-115  OCT 08 1.45
23-Jun AAPL     1 BEAR PUT   175-170  OCT 08 2.48

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The market made a rebound and I took the opportunity to close out some positions.

6/19 Close out 2 WMB Jul 08 40 Call @ 1.15

6/19 Close out 1 UPS Jul 08 70 put @ 3.75

6/14 Close out 1 UPS Jul 08 70 put @ 3.30

WMB reversed as I had rightly expected after the DOJI while NSM also pulled lower. HAL has made a slight push up and make some gains but yet to clear the top.

CMCSA is holding the put position with good move and MMM and CAT trying to push lower. UPS had gapped down earlier and I already took out 1 position and as it closes the gap up, I close the remaining for a nice profit.

Results so far :-
Date Stock Units Exp Date Strike Price Cost Close Price P/L
16-Jun ABT 1 AUG 08 52.5 PUT 1.75 1.45 -30
17-Jun WMB 2 JUL 08 40 CALL 1.20 1.15 -10
16-Jun NSM 1 AUG 08 22.5 CALL 2.10 1.30 -80
4-Jun UPS 2 JUL 09 70 PUT 1.78 (3.30,3.75) 349
17-Jun CTXS 1 SEP 08 30 PUT 1.6 1.67 14.00
16-Jun HAL 1 JUL 08 50 CALL 1.63 1.97 34
Nett : + 277.00

Open positions as of 6/20
Date Stock Units Exp Date Strike Price Cost Close Price P/L
4-Jun CMCSA 2 JUL 08 22.5 put 1.03 2.78 349
17-Jun CAT 1 AUG 08 80 PUT 3.75 4.05 30
17-Jun MMM 2 JUL 08 75 PUT 1.9 2.73 165
Unrealized P/L +544.00

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Yesterday stocks continued to drop sharply and the DOW finished at 3 months low at 12029 about 139 pts drop or 1.1% and breached the 12000 intraday.

I am watching the 2 calls position. Both WMB and HAL had started to move up with some slight gains but both showed a Doji yesterday especially WMB. If the next couple of days the stock is reversing down, I will look to close the position.

Closed NSM 22.5 CALL @ 1.30 — (-$80)

Closed CTXS 30 PUT @ 1.67 — (+$14) - due to error on execution platform

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— 6/17 Bought CAT 80 Aug Put @ 3.75

— 6/16 Bought HAL 40 Jul Call @ 1.63

6/16 B NSM Aug 08 22.5 Call @ 2.10

6/17 B WMB Jul 08 40 CAll @ 1.20

6/17 B CTXS SEP 08 30 PUT @ 1.6

6/17 B MMM JUL 08 75 PUT @ 3.75

6/4 B UPS JUL 08 70 PUT @ 1.70

6/4 B CMCSA JUL 08 22.5 PUT @ 1.03

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I have started this blog to share the options trades i took for educational purposes.

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