well not exactly the week i hoped for with JPM. believe there is red coming next week. (side note: nice drop in SPY today.) i scaled out of JPM equity today end of day. 44.53 will look to short more stock monday if there is a pop. still have options (44s), which after a volatile couple days, are positive. but really looking for a considerable move next week, wouldnt mind seeing 43.6 on Monday. maybe its too much real work - maybe its too much looking at longer time frames - but this has turned into a swing trade, and im still not sure how i feel about it...
minimally positive January. holding JPM right now - today could see weekly resistance in the 45.75 area (Since 45 didnt hold). feels like distribution right now. but i do see how higher is possible.
another interesting week. didnt do much but watch until today. was hoping for more downside, but JPM bounced end of day. -got out of some equity at 44.58 -got out of some puts (after adding some this week) at .67 (44 strike). still short. looking to add monday if bounce. still believe weekly ready to roll over. maybe the Madoff news will bring it down. SP looking close to its monthly resistance (dont believe the 1330s get violated at the moment)
got out of SPY puts for .10 per contract. wouldda/coulda/shouldda had more. lame. closed because still think more upside is possible, but will short (or buy puts) daily resistance if i believe its in (like today) not liking JPM action at the moment. also bought puts in NFLX today when it was around 222. closed below 218. puts = break even. so need to pick a better strike price on that one next time. or short equity like a good boy.
-got out of NFLX at beginning of day for a .05 loss per contract. Not happy that stocked moved 6 points in direction i wanted (222 to 216). lesson learned (one hopes). -JPM position getting smoked. pretty little IHS (30 minute). I am aware this could break out to upside, and not too happy about that situation. tomorrow will tell.
bought a few SPY puts here to see what happens today. (EDIT: also tried to short AGU on gap up earnings news at 97.2 and missed. not chasing at the moment)
SPY and JPM chose to tease me today. one nice trade today was buying puts on APC (75s) .73 -->1.23 one thing that im finding aggravating is the swiftness with which these selloffs are undone and brought back up. SPY 131 puts under water (.06) ATM. Perhaps adding some more tomorrow.
Have you ever thought of getting of one those Wordpress blogs? They're free and very easy to setup, so you can log everything you do in your blog instead of forum ... Just a thought, I'm thinking to do the same btw, very nice way to keep yourself in order when trading. Good luck