Advanced Wednesday

General notes

Watchlist additions and filtered trade candidates
TTC-A: AAPL, ESV, IBM, MLM, PCP, PVH, RIG, SNDK, UNH
GAPHV: VLO

Trade session notes
Nikkei...17236.16...-215.61...-1.2%.
Hang Seng...20536.78...-36.02...-0.2%.
FTSE...6465.00...+35.50...+0.6%.
DAX...7318.90...+48.58...+0.7%.

CBOE VIX

12.71

-0.41

Was looking through the possible advanced trades for SNDK as it will report tomorrow and is it is a high surprise probability stock. Here's a sampling of my possibilities:

1. Basic Long Straddle - Buy 1 Jul 45 Call and 1 Jul 45 Put, total cost: $625
   
2. Basic Long Strangle - Buy 4 Jul 50 Call and 4 Jul 40 Put, total cost: $1000
   
3. Long Strangle 2 - Buy 2 Jul 45 Call and 2 Jul 42,5 Put, total cost: $1010
   
4. Long Straddle 2 - Buy 1 Jul 42,5 Call and 1 Jul 45 Put, total cost: $750
   
5. Tight Long Strangle 3 - Buy 2 Jul 47,5 Call and 2 Jul 42,5 Put, total cost: $820

11:08:06 AM Made a market order for 3 contracts of option 4 from above list on SNDK. SIDENOTE: Only I made it for May expiries (pure mistake of trying to be quick), also I should have made this trade earlier in the week as IV was already at around 44. Anyway, we will see what happens tomorrow. I've been in a rush, thus I shall note that trading in a rush environment is impossible! No, multi-tasking please!

11:22:25 AM Made the right orders as it is for option 4 above. I want to see the difference in real life and as I am testing my fresh knowledge I have decided to do it this double virtual way, as normally I trade with my paper trading account as I will (quite soon) with my real money at risk.

11:26:01 AM ET CBOE VIX

12.93

-0.19

Open positions at market close 24 April 2007

Advanced poisitions left over legs

.LMQEK

LRCX MAY 55 Call

$53.41

$0.75

($105.00)