I've been traveling a bunch and in committee meetings a bunch and trading a bunch and am behind on my bookkeeping. I will be on the road again this weekend so it wont be until next week that I update my journal entries. With respect to trading index options credit spreads, I did many things right, I did some things wrong. At the moment my month on month return for this month is up 0.54%. Normally, at this time of the month I'm usually up 5%-7%. I'm working the problem and learning what it is like to operate in a more active environment.
Amazing considering... 5%-7% up risking 20% of capital selling spreads. So - who wants a side bet on why Howard isn't here: 1 - He's on the run from his trainees who have been wiped out 2 - His wife won't let him in the house & the wireless is intermittent in the dogs kennel 3 - He's out on the streets collecting for his own personal "Japanese Earthquake Appeal" charity account replenishment fund Anyone? DT
Thursday morning. Nice little bump this morning. Didn´t make much on the OEX options. The price was way overblown. Did manage to get out with +$70 though. On the SPY that was a little better, made +$556 net on that, after commissions. For you cynics, blase, old tomcats on here, been working on trading the SPY. Seems to be going alright, but going to do the funny money bit for another month or more yet. The OEX though is a different story. Far as I know, the account with TOS for real money has been approved and now I´m waiting for my daughter in TEXAS to get back from her Caribbean cruise and mail my cheque off to activate it. Should be in REAL MONEY in the OEX for April 1st. It has been 1 and 3/4 years getting to this point. First off I didnt seem to be able to get internet service whereever I was. Then I did, but it was so low quality I couldn´t even download the programs properly. So I was learning on the internet cafe, public computers. But last year around Feb 2010, I finally got internet of a sorts and later in the year I even got better service with which to work with now. That said, I spent at least eight months messing around with credit spread trading and went broke twice in funny money and tried short term different spreads. Finally came to the conclusion that spread trading wasn´t really that good a thing. Tried calendars, selling premium, straddles and strangles, etc. Went back to the OEX and straight buying puts and calls Dec 2nd. Missed out this past month twice on good moves. Busy teaching my partner to trade and he would come all excited and bother me with questions when I was trying to get my orders in and you all know how sometimes TIME is critical there. So I missed two good trades this past little while, but yesterday got in a good signal and did it and this morning again. So made money today. The regular account with the OEX I´m going to trade with real money is up 141% today. Which is encouraging. ( from $5000 to $12,066 ) Actually the SPY trading is UP also, but going to run that in funny money for another month or so. Got to figure out how I´m going to play it. Short trades though. I simply write this for your entertainment, seeing as how you are being so hard on Howard. Another football to kick around. I don´t mind. Have a good day fellas! I´m taking off for the rest of the day.