Oct 29 Options Writing Trades Update

Stocks in Europe and Asia extended a global rally Wednesday as rate-cut hopes bolstered investors. Japan's Nikkei average climbed 7.7 percent in volatile trade. BOJ appears to be joining the bandwagon for considering rates cut too. Even if the BOJ did cut rates, that wouldn't improve economic fundamentals, leaving the market still at the mercy of supply and demand, and currency moves. Its more likely a technical rebound given that the market has oversold big time. I am not about to go back to the puts yet. Not yet.

Oct 27 Options Writing Trades Update

Tokyo's Nikkei 225 index, after trading higher in the morning, closed down 6.4 percent to 7,162.90. There is alot of panic selling & no one can predict the where the bottom is. Investors in Japan dumped exporters like Toyota Motor Corp. and Sony Corp. as the yen remained strong after hitting a 13-year high of 90.89 yen on Friday. The dollar stood at 92.70 yen, compared with 94.24 yen late Friday in New York. US futures are pointing to another steep negative opening on Monday....with is no respite in sight. Tuesday's U.S. Federal Reserve meeting was more cause for caution. The central bank is expected to lower interest rates by at least a half-point to 1 percent, though the rate reduction is already priced into the market and unlikely to calm nerves.

Oct 24 Options Writing Trades Update

Japan's Nikkei average slid 9.6 percent to a 5-½ year closing low on Friday, with exporters hit by the double punch of a Sony Corp profit warning and a sharply higher yen. The benchmark Nikkei lost 12 percent in the week and has fallen 50 percent so far this year. Looking to add Feb's call options whenever possible.

Ways of the Warrior

I am a warrior.....

• I create every moment of my life
• My choices create my reality
• My response creates my outcome
• There is no "can't", I choose to or choose not to
• There is no "try", I do or do not do
• I am true to my own heart
• I speak my truth...with compassion
• I keep my commitments
• My word is law
• I approve of myself, now
• I don't have to please everybody
• I don't take anything personally
• I understand that how others judge me is about them
• I look 'em in the eye, I tell 'em who I am, and if they don't like it, ___ 'em!

Attitudes of a Warrior

I am a warrior.....
I act in spite of fear

I am a warrior....
I am willing to do whatever it takes

I am a warrior....
I do everything at 100%

I am a warrior....
I am willing to do what's "hard"

I am a warrior....
I act in spite of my mood

I am a warrior....
I am bigger than any obstabcle

I am a warrior....
I succeed in spite of anything

I am a warrior....
I never give up

Oct 10 Options Writing Trades Update

Japan's Nikkei stock average dived 9.6 percent on Friday, its biggest one-day loss since the 1987 stock market crash, on growing fear the financial crisis will spark a global recession. The benchmark average's drop of 24 percent for the week was more than double the weekly drop right after the 1987 market crash. Panic selling ripples across global market as fears cascade. There is no end in sight. I wrote the N225 Jan 13500 Call & 13000 Call for 20 pts & 25 pts respectively.

Oct 8 Options Writing Trades Update

The Nikkei average plunged 9.4 percent on Wednesday, its biggest one-day drop since the 1987 stock market crash, as fear spread of a global recession. Panic & mayhem is all I can say. By the way, I got out of the Oct 10000 puts on Monday at 125 pts...where it was last done at 980pts. Being bearish bias, I sold the Jan 14000 call options for 15 pts today. I won't be touching the puts for a while as the market is simply too wild for a strangle play...if any will be a credit spread play.

Oct 2 Options Writing Trades Update

The Nikkei average slipped 1.9 percent to a three-year closing low on Thursday despite passage of a $700 billion financial bailout bill by the U.S. Senate, as growing fears about the global recession offset relief. Still holding my ground on the limited Oct Puts positions but with fingers ready to pull the trigger.