Good day over all. Ok, first day of swing trading and here is what I have: S 5 MIR @ 40.08 covered S 5 MIR Jun 37.5 P S 7 CVX @ 97.29 S 3 CVX Jun 90 P S 4 SYNA @ 37.11 S 2 BP @ 72.59 Day trades went well today. I was able to call out the daytrades in the chat as it wasnt too busy today. Still have UAUA covered open OCR + 511 WCG +815 + 1327 for the day + 5269 for the week + 7208 for the month + 46172 for the year
I added to the SYNA short today. I also did some day trading. I also sold 4 of the UAUA covered stock but did not close out the options. I am naked on 4 of the options. Now have 41 UAUA and 45 of the May 15 calls Holding to the following Shorts from yesterdays swings BP CVX MIR SYNA Now short 64 ATVI @ 31.18 Closed out: + 266 for the day + 5535 for the week + 7474 for the month + 46438 for the year
Day trades for 5/9/08 SGMS +325 MRX +578 VRX + 144 Difference between the profit on these day trades and the day result is the selling of 4 UAUA at a loss. No blotter as I needed to leave work right at the closing bell and new home computer doesnt have the picture program loaded yet.
So are you daytrading or swing trading? Are your basic methods any different when doing one or the other?
sorry for my noobishness, but I get it that you sold the stock short @ 40.08 and sold puts with 37.50 strike. So 37.50 is your target for the trade (if stock falls below this price, the puts would be exercise and you would be obliged to buy back MIR at 37.50). In the scenario that MIR rallies and the puts expire worthless (ie. your gain) where would you place the stop on the short stock position? Thanks for clarifying.