It has only been a week, but seems like so much longer. I’ve gotten to watch my positions drop in value due to intrinsic and time, which are the only two components of an option. Not bad.. I’m two for two (well, in a bad way). But I look past this week and into the future, which I would classify as next week. Watch for the C drop early in the week, which is when I will act.

I held on to my 50 Citigroup puts today even though there was an opportunity for me to break even and cover the commission (per put : $1 buy, $1 sell), but I didn’t take that opportunity. I still feel as though C will drop and when it does, I don’t want to be holding onto cash, even if it is worth a little more today than it was yesterday (the USD is going upward which means something). How long can I hold onto C? Well…

No trades for me today. Of course, I had to wait for a good chance to gain profits on C and that didn’t happen today. I was happy to see the market finish in the red, which is something that gives me more hope towards the future with my C puts. Do people usually gamble such a large amount on one position like I did? Probably not. Are people retarded like me? Definitely not.

I watched a lot of up market action today and realized that things weren’t going to drop until maybe tomorrow, so I waited patiently until near the day’s end just to hold the cash in my account until it was time to let it go. Since my C puts were down over $1k and I don’t take a loss well, I decided to hold onto them another day and see what happens…

I did a little watching of the market today, but didn’t take any chances or gambles. Guess I wasn’t much interested, as it seemed a lot of the volume wasn’t being traded. I did enjoy watching C go from a winner to a loser, but I stood and just watched it instead of making any rash actions.

What a difference a week can make.. actually, it’s been a couple weeks since I was really down (you can check it out on the race page, the graphs are cool). Since the down day where I was sub-$5k, I’ve made a good turn-around and can proudly say, I don’t suck as much as I could be.

Work interefered with much of my normal day, so I wasn’t able to watch the positions I’m in gain money.. lose money.. gain money.. lose money.. gain money.. well, you watched the market today so you know what I mean.

It was a calm day for the market, for me, and for the good people of the VO (compared to yesterday). If I sold everything, I wouldn’t have come up profitable which only means that I should hold onto my positions longer, until they become profitable. Then I should hold until they become super profitable. Super mega ultra profitable.

This is just an end of day post, nothing to see unless you want to check out the account balances I ended the day with.

This is just an end of day post, nothing to see unless you want to check out the account balances I ended the day with.