Dec 31 Option Trades Update

Wall Street ended a painful year with another steep loss Monday & it appears that 2008 would continue to bring more uncertainty & turbulence seen in 2007 as overarching concerns about the economy continued to weigh on investor sentiment. The strategy for 2008 would be to trade light on assets(i.e selective buying of stocks & covered calls plays) but focuses more on writting index futures options on volatility especially Nikkei 225 which has worked very well in 2007...generating almost 100% returns against the account. For those covered call positions already in placed(C, NVDA, HPQ, DELL, GG, HGSI) , continue to write secondary calls options. Here wishing everyone a fantastic 2008! Its up to ourselves.

Dec 28 Option Trades Update

Wall street fell sharply last night perhaps due to concerns over potential unrest abroad after Bhutto's assasination.....Asian markets appears to be taking the cue on Friday as well. The benchmark Nikkei average finished Friday's half-day session down 1.7 percent or 256.91 points at 15,307.78.

Dec 26 Option Trades Update

The benchmark Nikkei average ended the day up 0.7 percent or 100.95 points at 15,653.54, its highest close since Dec 12. ....& I wrote some new N225 Mar 18500 call options for 15 points.

Dec 25 Option Trades Update

Merry Christmas!! The US stock market opened last night with an upbeat tone and retained it through its early close at 1:00 ET. There were little news to prompt the gains which are best ascribed to seasonal factors. The Tokyo market had a full-day session on Tuesday, while most Asian markets, including Hong Kong and Singapore, were closed. The benchmark Nikkei average ended the day up 1.9 percent or 295.59 points at 15,552.59, the highest close since Dec. 12. I am sitting tight here till next year before taking on any new Mar Call options positions.

Dec 24 Option Trades Update

With Santa Claus coming to town in this week, plenty of participants are expected to remain sidelines. This week is light on scheduled events as the business of Wall Street will take a backseat to the business of Main Street. It's worth noting, too, that Monday today marks the start of what has been labeled the Santa Claus Rally period. It has been observed by the Stock Trader's Almanac that the period covering the last five trading days of a year and the first two trading days of the new year often produces a respectable rally. I am already set up for Jan, with some Jan covered call positions (C, HPQ, NVDA, Dell, GG, HGSI)hoping to capitalise on the rally if any.... For the longer haul, I also have EWS positions being still bullish about the Singapore economy. I will be looking out for opportunity to write Mar N225 call options early next year(18000-18500)......while the Feb's Call options are almost homesafe. Meanwhile, I wish one & all a Merry Christmas & A Happy New Year. May 2008 be a fruitful year!!

Dec 19 Option Trades Update

Asian markets are trading mostly up Wed but the Nikkei 225 & STI indices are down. The N225 Feb call options premium decayed further in my favour. (18000 @ 4 pts, 18500 @ 2 pts). I will be looking to square them off soon and ready for new Mar calls positions when the opportunity arises. The Citibank Jan 35 call option is last done at 0.45(sold for 1.4). I will write secondary Feb options soon when opportunity arises to continue to generate monthly income.

Dec 18 Option Trades Update

Further declines in the Nikkei 225 index Monday resulting in further decay of the Feb N225 call options(18000: 7 pts, 18500: 4 pts) in my favour.

Dec 14 Option Trades Update

Further declines but slightly with the Nikkei 225 index Friday. The Feb call options premium further decayed & this is positive for my short positions. Again, not much to be done here but wait & of course to look forward to a great weekend!

Dec 13 Option Trades Update

The Nikkei 225 index decline further Thu & the Feb call options' premium decayed further. Nothing much to do but to wait..... Yes, my kind of trading is that boring. As for the Citibank covered call (Jan $35), looks like I might get to write secondary call options for Feb as it last traded at 31.47. We shall see....

Dec 12 Option Trades Update

After last night's FED decision, Asian markets tumbled Wed.... The Feb Nikkei 225 18000 & 18500 call options were last done at 25 pts & 10 pts respectively. Not much action here but to wait for decay to kick in further.

Dec 6 Option Trades Update

I wrote additional N225 Feb 18000 call options for 30 points today as Asian Markets rose strongly. I also opened a Citibank covered call position .....bought the stock at $32.89 on Monday & sold the Jan 35 call for $1.4 for a call return of 10 plus % or uncalled return of 4.25%. Other than that, not much action here.

Dec 3 Option Trades Update

Asian markets appears to be taking a breather after the few days of rally. The Nikkei 225 index is down slightly today and the Feb 18000 call options were last done at 30 (sold for 20-25 pts). Not much action here.