Wacky Wednesday

Up over $1,100 early in the day with BAC and MS zooming upwards as well as GE and RJF. In the end, portfolio up $322.25. I'll take it. Remember my trade yesterday? I closed out the March 18 put on MS for $.95 for a $.35 profit. Well today it opened at $.40 going down as far as $.30. Wow! I definitely could have made a lot more money. Over $.45 more a share or $90 total. I guess I can't complain about locking in a profit.

My "imaginary" trade of buying AXPOB, a march 10 put for AXP closed at $.30 or unchanged. I looked at it today though and when I was looking at it I would have been happy with the intraday gain and sold at $.40 ( a 33% gain). Aghhh!!!

Just one real trade today. Sold short (SS) a March 26 call on MS (MSCI) for $.45. Since I'm short this call, I would be obligated to sell my shares of MS @ $26 no matter what the price is. So I'm capping my gains here. I still think this is a good trade. If I get assigned. I'm a winner. If I don't get assigned and MS closes next Friday just under $26, I'm a winner winner. Only downside? MS tanks below my cost basis and never comes back. Highly unlikely scenario. While I'm not fully hedged, if you have been following me you will see that I'm slightly hedged. I've attached a play by play excel worksheet thus far on my MS trade for your edification