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OA August Animal Trade - AAPL - Open

see community section for details of trade.

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Trading Journal Sept 1, 2010

Markets are moving strongly bullish today...making a few trades and a couple of adjustments.

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June Monthly Animal Trade SPY adjusted

see community section for details.

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Waiting on the Fed

The Fed is due to announce their decision on interest rates in a couple of hours, and the markets are a little bit in the red.  However, its mostly due to China.  The bullish trend is still in place, so unless Bernanke does something crazy, I don't expect a huge reaction.

BIDU - is still ITM, though not far enough that I have worried about rolling the SC yet.  There is still about $1.70 of extrinsic value in the Aug 85 SC, so I am leaving it alone for now.  If it trends to $87-$88, I may consider rolling.
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July Monthly Animal Trade - Bull Put BIDU - CLOSED

I am taking this position off the table.  The stock has had a very nice move and 2/3 of the original credit can be captured in just a few days.  I could wait until expiration and capture the whole net credit likely, but I want to deploy capital elsewhere.  So, I am closing the trade out for $.20 debit today.

Net proifit - $.42

Net ROI = .42/$4.38 = 9.6% in 3 days.

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ITM position and a few trades.

BIDU update - my BIDU covered call has gone ITM this morning.  I am going to leave it alone for the time being as the stock is still moving up, but has slowed in the last couple of days.  The delta differential on the trade is still at .44 so if I get another dollar or two move to the upside, I won't be giving up a ton of profit.  So, I am letting my covered call sit ITM for the time being.  If the stock pushes up above $87, I will look to roll up to the $90 strike, and possibly out to Sep. 
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June Monthly Animal Trade SPY adjusted.

see community section for details.

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