Tuesday, April 1, 2008

didn't think it would be so big

below (at bottom of post, click to enlarge) you can see my trades for today.
the sells in the beginning, i bought them yesterday, prices are below.
a. i bought the Aapl 135 calls yesterday for 11.35
b. i bought the Nue 60 calls yesterday for 7.2
c. i bought the Stld 27.5 calls yesterday for 6 and 6.1

i did not anticipate the day to be huge, so i sold aapl at the start. commodities were down, so nue and stld went down in the morning. i thought ibm might tank so bought some. then i went back to sleep. i woke up at 1pm and sold nue and stld straight away. my ibm puts were taking a beating, but i was hoping to catch some stocks at the peak and buy puts on them, especially ibm. i was able to do so with mer, but it did not falter at day's end. i built a huge position on ibm and very unexpectedly it went down $1.25 in the last 10 mins of the day. literally, i was sitting there, thinking i should lighten that position and it started going down and i just kept selling them at increments of .10 cents. It ended selling for around $8.7 towards the end, so i left some profit on the table there, but it was a very unexpected down trend on the stock, especially when aapl and others were flying, so i don't regret it. bought some aapl puts, since 149.5 is just sooooo high. tomorrow should go down in the morning and then maybe up, but you never know. today was a good day for trading, anytime you have such massive high's always a good time to short.