October 22, 2008

Oct 22th

I made some adjustments to the covered call positions.

Yesterday I closed Java - for a loss of 2186
Today I move the calls for HAL and CHK closer to the ATM - total profit on the calls which I closed 1690. I closed the PRU trade completely for a loss of 1228.

This way I reduced the total risk in the trade with 25%. Always consider the possibility that your initial call was wrong.

Currently the total time premium sold is 18395.

The only trade really working today is my short USD/JPY. The Long USD/EUR holds nice profits but did not generate anything today as it was mostly sideways.





Oct 22, 2008 3:21:46 PM

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Ernst Tanaka

Successful Option Trader (for own account); interested in associating with a professional group of traders, trading for a fund or OPM.

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