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Monday, October 22, 2007

Oct 22 Option Trades Update

It was a sea of red for Asian markets today after last Friday's sharp sold off on Wall Street. All major indices shaved off between 2-4%. The FTSE is down some 96 pts or 1.3% as we speak. US futures are also suggesting a possible lower opening on Monday Oct 22. For the stock market to get back on track, this week's releases will have to offer Wall Street some more upbeat news. The Dec N225 naked call options positions are of course doing great. The Oct ACH covered calls got called out as expected last Friday. I am almost off to a "fresh start" in terms of available funds & excess except for the couple of Nov NVDA covered call positions which I took on last week where the stock has already fallen some 4.5% from its original purchased price. Of course secondary call options will be written for Dec as necessary.

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