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Wednesday, June 11, 2008

Jun 11 Options Writing Trades Update

2 more days before we bid farewell to Japan & head on back to Singapore where the routine begins. Today, we walked the Shizuoka streets in the morning to shop for fruits & vegetables. After that, we went to the Abe river to catch some minows. No catch though but we enjoyed soaking our feets in the cold river water. For lunch, we had a simple meal of rice balls, left over stew, chicken yakitori & most interesting of all, a huge young onion (size of a baseball & cooked via microwave for a few mins). It was sweet & juicy. I thoroughly enjoyed it. This is a first for me in terms of eating a big onion by itself. I must say that food taste their best in the simplest form. For dinner, we are going to have pot sticker + ramen combination. I think I 've put on a few kilos more just in this few days. 8)
Meanwhile Wall street traded mixed & undecided Tuesday. Asian stocks follow suit Wednesday. US Fed officials have made it sound of late that they are most likely done cutting rates, and that the next move is likely an increase in rates in Sep. The hawkish comment sparked a rally on the dollar. This bodes well for Japanese exporters. The Nikkei 225 managed to rebound from last 2 days of losses to post a gain of 1.16% or up 160 pts. I am still sitting tight on all my options positions (Jun-Aug) although I expect more volatilty against the Augs calls. I am now looking to add new N225 Sep calls & puts for Sep's income set ups.

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