I will trade options on ETFs in this journal. As for right now, my strategy solely consists of call and put spreads. If you have suggestions to improve my option notations, let me k,now. ETFs may include.... UNG (Natural Gas) USO (Oil) Heating oil, which should come out soon Gasoline, which should come out soon Index ETFs Also a few options on individuals stocks
date executed: 1/17/08 Thursday, around 2:30 put spread on UNG, bought 40 sold 39, price of UNG at 39.05 profit target.... bought put: strike 40, 37.62 in the money, .30 ask-bid sold put: strike 39, 37.18 in the money, .35 ask-bid reasons... weather: don't know, but doesn't seem too cold, neutral storage: bearish COT : bullish chart... 1) measuring gap & reversal gap, bearish 2) but today's gap, bullish 3) resistance not met, bearish why trade? Mostly the top gap, but also bearish commodities report