My Recent Trades…
Using my new method I put some trades on… on the 19/11/2008 and thought Id review them here.
I am doing long strategies as I don’t feel comfortable with shorting at the moment. AFAIK its a little too risky considering I am so green to this avenue of trading.
So here they are for review:
QBEE5 - P - Jan 09 - 22.50 - I paid $2.55 - now $2.35 > This one is clearly yet to pay and may be killed for liquidity but considering this is a paper trade… idgaf and will let it run.
WOW40 - P - Jan 09 - 25.50 - I paid $2.085 - now $0.90 > Again….. a phizzler. I would have clearly dumped this if i needed liquidity. Again… considering this is paper… idgaf.
ANZG1 - C - Jan 09 - 13.00 - I paid 2.085 - now 2.04 > Another phizzler… the banks have not been very good to me lately. Again… lots of time to expiry… so this is a holder all things considered.
SUNCT7 - C - Jan 09 - 6.75 - I paid 1.055 - now 1.41 > Success!! Still its only a small move simply because its a financial institution and they have been notoriously weak during this major bear market all due to their potential exposure to extra losses. Looking at the chart I see that it isn’t a time to sell so I’d still sit on this one.
MAPBS7 - C - Jan 09 - 1.90 - I paid 0.215 - now .185 > ?? WTF ?? the price is up on the stock yet this one is down ?? This MUST be the time decay thing that options have…
AMPBM7 - C - Jan 09 - .65 - I paid 0.65 - now 0.52 > Again… hardly any gains here… Calls in a major bear market hard for making money on.
NABSZ - C - Jan 09 - 19.50 - I paid 2.48 - now 2.09 > Ow
WBCD37 - C - Jan 09 - 16.00 - I paid 2.215 - now 2.745 > Success!! small steps small steps 
MQGFI7 - C - Jan 09 - 20.84 - I paid 5.79 - now 9.53 > Very nice!! I would pull this one if it wasn’t a paper trade. Because it isn’t I will still ride it until I see a reversal signal.
OSH73 - P - Jan 09 - 4.75 - I paid .69 - now .45 > This one was in the money this week but I didn’t exit as I am expecting a bigger down between now and Jan.
So all up… one big winner and lots of small losses but arent real losses luckily.
What I learned: Doing Long Calls are a lot harder in a major bear market and Calls signals are probably better used as exit points rather than entry points.