Wednesday, April 30, 2008

Position update

BWLD straddle play: Closed with a net gain of just over $1400. Feel a bit weird as I was like day-trading option now, but an overnight 92% profit is just irresistible. The funny thing is that for the second time, had I taken the approach that I played MA the day before (sell May 30 put and buy May 20 put), I still would have made a decent profit (close now for a few hundreds or hold to May expiration for bigger the initial credit) even though it broke out to other extreme of what was expected, hmmm...

Thought about placing some short positions as the market is rallying before the FOMC decision, but decided to wait and see..

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