Joined Jan 1, 1970
1,010 Blog Posts

Summary – Monday, 2008.V.5.

Despite the market being down almost triple digits, I had an egregiously nice day with several longs (despite some mismanagement of a couple straddles). 

Existing calls in [[CHK]], [[DO]], [[DVN]] led the way.  [[EOG]] could’ve joined them, but I had failed to sell the puts from the straddle, so the position is just holding breakeven.  And speaking of mismanagement…also failed to take advantage of the 6% earnings run-up in [[CLF]], in which I opened a strangle this morning…

But…all-in-all, a good way to celebrate my return to this here blog/tab.  Holding these positions for now, but will look to sell at the first signs of weakness.

DP Buys:

  • [[CLF]] & [[CSCO]] strangles for earnings.  I despise CSCO with every bone in my body, so really, the only reason I have that position is so that I can enjoy their demise all that much more.
  • [[AMZN]] & [[VIP]] puts – both limit orders placed & filled below Friday’s lows.

DP Sells:

  • Sold the [[V]] earnings straddle for a somewhat decent 12.50% profit…
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