Aug 07 Options Trades Update

Japan market is weak today. It has been range bound for quite a while already. This works nicely for the naked call selling income strategy. The Nov N225 20000 naked calls which I currently have were last done at 15pts today. I will wait for the next big upward move if any to commit anymore positions...just a couple more would be nice to complete the N225 plays for Nov. But I am not going to force it in. Need to remind myself constantly here. Easier said than done. Trading was volatile in the US last night but was good that it closed with a strong rebound. The natural thing is to expect the Asian market to follow suit today but this was not to be the case. Kind of a weak & range bound performance. Caution is still in the air I suppose. The UK market appears to have taken the US lead & is looking strong in the early morning trading...up some 77pts on the FTSE futures as we speak.