A Tycoon's Trading Diary

True story of the making of a tycoon. Options trading, trading systems, wealth, money management...

Friday, May 11, 2007

Venere the beautiful!

General notes
Yesterday my Paccar Call option contracts stood $100 north of break even. Later when the whole market was going down I thought. Hmmm... Should I have closed out the position fully or at least partially? This the point where long term thinking steps in.

Trade session notes
Nikkei...17553.72...-183.24...-1.0%.
Hang Seng
...20468.21...-278.06...-1.3%.
FTSE...6492.40...-31.70...-0.5%.
DAX
...7342.13...-72.30...-1.0%.
CBOE VIX 12.7-0.90

Open positions at market close 10 May 2007
Plain vanillas
.PAQHR PCAR AUG 90 Call $86.16


$4
$0.00
.MTIL MT SEP 60 Call $55.01


$2.3
($390.00)

Advanced positions - Leftover legs
.UPUGR CTSH JUL 90 Call $80.08


$1.4
($420.00)
.SWFGI SNDK JUL 45 Call
$44.10

$2.15
($120.00)
.SWQSV SNDK JUL 42.5 Put



$1.55
($150.00)