couple of days

Sorry about the delayed posting. I have been pretty busy this week and haven't had the time to post anything. I'll start with Tuesday

Tuesday

Dow up 50.34
S&P 500 down .89
Portfolio down $1,521.23

Bought to close my BAC May 09 $16 Call for $.02. I was thinking that I could let this option expire worthless on Friday, but why take a chance for the extra two cents? I just want to minimize my risk at this point in the game and not maximize my profits. profit of 69.24%

Bought to open 5 contracts of BAC June 09 $15 Call for $.66. Thought BAC would take a quick turn up...I know can see writing this today (Thursday) this was a classic rookie mistake. I should have waited this out and bought only on an upswing. I have a feeling this trade will be a loser.

Sold to open MS June 09 $28 Call for $1.70. I am betting that MS will close the third week of June below $28. If this happens, I will pocket the $1.70. In reality though, I just want MS to go down enough to were I can repurchase this option for a profit. A huge potential profit.


Wednesday

Dow down 184.22
S&P 500 down 24.43
Portfolio down $2,219.25

No trades today. Just watching the market kill my portfolio. Complete blood bath across the board. To afraid to trade and make a mistake.. Waiting it out for now

Thursday

Dow up 46.43
S&P 500 down 9.15
Portfolio up $577.27

No trades today. Just taking it easy right before option expiration and waiting to see what the markets do. Should have two dividends hit tomorrow, PGH and MS.