EOD +$90

I had the opportunity to sell the IWM position earlier today for a profit of $90 which was a welcome change of pace, since I haven’t sold any option contracts before today for the month. There’s been a lot going on in the life of this Retard and soon I might have a way of sharing it more with you. As of today, I can only let you all know that you failed to succeed but succeeded to fail.

I looked to the fellow traders that read some of these posts, asking for an explanation. There was no explanation though, so I’m left to try to learn the answer myself. I don’t think that no trader cared to answer, I believe no trader knew the answer. And that’s alright. I forgive your ignorance. At one point I was going to ask for help from the psychic detective of investing, but he probably doesn’t know or can’t spare the time to answer.

How about some of the other wonders of the trading world… anyone have an answer to this question:
what is the stock that I see streaming with the letters ZXZZT or ZVZZT (or ZYZZT)?

Alright, now onto today’s business.

The IWM came down with the market in decent proportion, so though I didn’t the bottom for selling the IWM puts, I am happy with the profit. I invested $295 and will get back $385, which is a great way of making my leftover cash work for me over a one day period. Of course, the market will continue to drop next week so I could have held for longer and more profit, but I wanted to at least make it onto the VO positive area once this week.

Sold:
IWM May08 $64 put (DIWQL), 5 @ $0.79
Entered 4/10 @ $0.59, exited 4/11 @ $0.79
34% profit for +$90
stock price entered $70.54
stock price exited $69.01

Do you have any explanations on the total volume shown before and after I made the sale of my IWM puts? The oddity I’m seeing is the volume increases by 4 when I sold 5 puts. Like someone is skimming off the top.
Before:

After:

Of course the DJI ended down 256.56, the S&P down 27.72 and the NASDAQ down 61.46, but Chitty only dropped 1.56% to $23.36 which is not where I’m happy with selling. The 40 put position I have I had entered at with the stock at $23.87, but the time decay seems to have robbed me of potential profits. Where’s Squid with his advice and analysis?

I’m enjoying the bear reading on Tim Knight’s Slope site. Maybe one day I’ll learn to graph and plot and chart and eventually be a more perma-bear than I am. In the meantime, I’ll keep looking to Slope’s site for confirmation of my bearish positions.

Well, that’s about all for now. Oh ya, I almost forgot the daily account and position screen shots. Gotta keep honest.

End of day positions:

End of day balance: