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Wednesday, May 21, 2008

May 22 Options Writing Trades Update

On Wednesday, Wall Street posted a steep loss for the second straight session. A lowered economic outlook at the Fed and a spike in crude prices weighed on sentiment. Asian markets are not spared either Thursday as most traded in negative territories. The Japan benchmark Nikkei remained rather resillient & is trading around the 13900s levels off its day lows at 13658s as we speak & not much changed from yesterday's session. I wrote additional N225 Aug 9750 Puts for 25 pts. I am looking at the N225 Aug 16500 or 17000 call options next to add to the positions for Aug's income set up.

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