Aug 18 Options Trades Update

Stocks rallied Friday after a surprise move by the Fed to cut its discount rate. Asian markets should spike up strongly on Monday which is not good for my N225 naked calls play. One thing interesting to note is that despite the Nikkei 225 index having shaven off almost 10% from when my calls positions were opened & had the largest one day decline on Friday, the premium on my Dec call positions rose sharply on Friday to 30-35 pts.(I sold for 20pts on average). Yen has risen against the US$ to as high as 112 yen & that could be the reason & by that itself caused the call premiums to rise. In any case, generally, this market rebound is good for everyone. My US positions will recover......my dad's spore's position will recover....he will not be as moody. I am hopeful that the market bottom has been reached & that it will recover lost grounds gradually from here. Cheers & have a great weekend!