I currently think your AMD spread is ok. Good support bounce today and with luck it will run for a few days at 40. Of course, I'm short 40 feb 40 puts too
09:17:55 -0600 (CST) SOLD -2 VERTICAL SPX 100 MAR 06 1325/1335 CALL @.65 CBOE, SPX MARK 1279.17 This is a new position on SPX I had VLO FEB 55/57.5 and was assigned. I stupidly sold this one for credit of only $0.35. SOLD -100 VLO @50.91, VLO MARK 50.92 SOLD -1 VLO 100 FEB 06 55 PUT @4.00 The assignment cost me $15 in exercise fees. $5 to sell stock and 3 legs commish ($4.50) So, this one I lost $5750-$5091 + $15 - $400 - $35 + $5 + $4.50 = $249 :-( Now I truely understand the pain of one wrong trade wiped out big chunks of VLO profits I accumulated. BOT +1 VERTICAL CDIS 100 FEB 06 40/35 PUT @4.70, CDIS MARK 34.43 This one was sold for $1.70 so another $300 lost. At one point, I had profit about $80 but did not take it.
OIH: Close 145/150 call spread for $15 profit. Open 135/140 call spread for $2. OIH was $133. Now I have OIH Iron Fly 130/135/140 for $3.05 credit plus some profits from rolling down call spread twice. This trade does not look good to me at all unless OIH stays around $135.
BOT +1 HPQ 100 MAR 06 30 PUT @.10, HPQ MARK 34.09 HPQ went up on earning report. Profit $35 on this trade. I still have mar $27.5 put left. This is not a good trade though. I did not check if there is earning report but was lucky that HPQ did not tank after earning report. BOT +2 CALENDAR SPY 100 JUN 06/MAR 06 126 PUT @1.50, SPY MARK 128.74 VIX dropped .56 today and is now 11.77. SOLD -1 VERTICAL SPX 100 MAR 06 1330/1340 CALL @.50 CBOE, SPX MARK 1281.85
Think about your AMD play today as Dell's announcement/earnings tonight could effect it. Right now youy are well above water and could close for a dime.
I know that there is rumor on Dell using AMD chip. However, if Dell does not announce that, it should not effect AMD. If they announce, it should shoot AMD up. Can you elaborate what could Dell's announcement effect AMD in a negative way ? Thanks,