Nov 1 Option Trades Update

Asian markets reacted mildly towards the interest rate cut. There were just moderate gains throughout as we speak(2pm Sin). Nonetheless, Japanese stocks posted their highest close in two weeks.....I squared off the N225 Dec 19500 call options for 3 pts(sold for 25 pts), the Dec 20000 call options for 2 pts (sold for 15 pts) & wrote new Jan 19500 call options for 20 pts.

Oct 30 Option Trades Update

All eyes are on the Fed. Markets around the world are trading in tight ranges & undecided. Volatily is expected in todays market. Lets see how this pans out.

Oct 29 Option Trades Update

The key event of the week is the FOMC meeting & market in expecting the fed funds rate to be cut by 25-50 basis points. In addition, with the surprising positive outlook by Countrywide Financial + Microsoft solid earnings which helped gave a boost to financial stocks & technology stocks, the chances are that markets are going to be trading up in the short term. Asia markets are already showing signs of this being played out as they are trading higher Monday. I will be looking to add more covered call positions plus write some N225 Jan call options.

Oct 24 Option Trades Update

Asia markets gave back their early gains today & reversed direction to end mostly negatively today. Wall street is down as we speak after a series of negative news with home sales figures plunging,.... Merrill Lynch steep third-quarter loss, roiled by mortgage and credit crisis . I will just be watching how the situation pans out & won't be taking any new trades for the time being.

Oct 23 Option Trades Update

US futures are pointing up after strong earnings. Asian markets follow suit & traded up recovering some loss grounds after yesterday's sharp decline. The Nikkei 225 index was however only moderately up. Not much action today but I will be looking to write N225 Jan call options when the opportunity arises.

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.

Oct 19 Options Trades Update

Asian markets traded lower Friday 19. The Nikkei index shedded some 1.71% today. The N225 Dec Naked Call options plays are doing just fine. Even the ones that were opened just yesterday, their premiums have decayed by approxmately 50%. I am starting to look at the January call options but will only sell on up days & on volatlity. UK market is trading moderately lower as we speak. US futures are pointing to a possible lower opening on Friday 19.

Oct 18 Options Trades Update

Today, with the moderate gains by the Nikkei, I sold additional N225 Dec 19500 calls for 15 pts. Last night I opened new covered call psitions for NVDA. Bought at $39.16 & sold the Nov 40 call option for $2.1. An uncalled return of 5.3%.

Oct 17 Option Trades Update

Asian markets traded mixed today. STI reversed its losses at the last 2 hrs of trading to post a 29 pts gain. UK market is trading in modestly higher & US futures are also up pointing towards a possible higher start for Wall Street tonight. I am looking to pick up a few counters for covered call plays for Nov. Tech stocks perhaps with Intel posting good results. If this trend continues & if other corporate earnings reports coming out holds well, Asian markets tommorrow might follow suit & might present new opportunities for more N225 plays. We shall see.

Oct 16 Option Trades Update

Asian markets fell sharply today taking its cue from the US market last night which saw poorer corporate earnings, oil price & renewed worries about credit, rattled investors. The N225 Dec Call Options positions are playing out just fine. I am looking to open a few more new positions if situations improves this few days if the rest of corporate earnings come in strong & turn the situation around. ...provided of course the premiums still look attractive. We shall see.

Oct 13 Option Trades Update

It was a modest up week for the major indices. That is a pretty good performance considering the very strong gains the prior week. The earnings reports this week were mixed and provide few clues as to the outlook for the flood of earnings reports that will start next week. Oil was noteworthy as it closed the week at $83.69 a barrel after reaching a record high above $84. The yield on the 10-year note rose to 4.68% from 4.64% the previous week. The underlying tone of the market remains moderately bullish entering the heavy period of earnings the next two weeks.

Oct 12 Option Trades Update

Asian markets generally traded lower perhaps due to profit taking. US market is modestly higher as we speak. I don't anticipate much actions today. However, anything can happen. I don't have a crystal ball. I go with the flow here & trade accordingly. We have a long weekend ahead in Singapore & I will be taking it slow & easy. Cheers!

Oct 11 Option Trades Update

Asian stock markets raced ahead with their post-credit shock rally on Thursday and Wall Street looked set to join them which opens in 30 mins time. The Nikkei rose 1.6 percent to end at its highest in nearly two and a half months on Thursday. STI also rose 1.6% & is 31 pts shy from its 52 weeks high of 3906. This certainly bodes well for the EWS (ETF) positions. On the other hand, the N225 Dec Naked Call Options are not doing too good with the premiums now higher than what they were sold for. The US Covered Calls & ER2 positions will do well if this october rally continues.

Oct 10 Option Trades Update

US market rallied stongly last night. Asian markets traded mixed today though & this pullback is expected after yesterday's rally. Japan market appears cautiously bullish, up some 0.1% only & this works for my N225 Dec naked Call Options play where the premiums are now on par with what I sold them for. But of course, anything can happen here & thats why traders trade. UK market is trading sideways as we speak & Wall street appears to head for moderate lower opening 1 hour from now & again, no surprise here given yesterday's record high.

Oct 9 Option Trades Update

Asian markets ended higher today. STI posted a new high. This bodes well for my EWS(ETF) positions which I took on after the Aug markets correction. This ETF tracks the Spore index to some extent. Its top few holdings includes, SIA, DBS, UOB, OCBC, Keppel Corp, Capitaland, City Dev, SGX, SPH, Singtel. Unfortunately, this ETF does not have options otherwise I will be writting calls options to generate income. Being bullish on the Spore scene, I will be holding on to these positions for a while.
Japan market which just came back from Monday's holiday posted moderate gains as well. The N225 Dec call options are trading against me. I will be monitoring the situation closer. UK market is now trading strongly positively & US market which just opened is looking to trade in positive territory in today's session too. This is good for my covered calls(GG, DELL, INTC, NVDA, ACH) & naked ER2 puts positions.

Oct 8 Option Trades Update

With the strong rally in the US market last Friday which was to be honest, alittle unexpected, the Oct ER2 610 Put positions were squared off at 0.05pts. I am left with the Dec 550 Puts which I have put in a Good-To-Cancel (GTC) order to buy to close at 0.1pt. US futures are pointing downwards as we speak. Asian markets gave back its early gains in the morning. Japan is closed for holiday today. So not much action here.

Oct 5 Option Trades Update

Market has been trading sideways mostly these few days but generally still maintaining a gradual uptrend. The Nikkei 225 options writing positions are currently trading against me. i.e Premium is higher than what I sold them for. Good thing is that I am conservative with the number of open positions & am ready to roll to next months options if necessary. On the other hand, ER2 put positions are decaying slowly but nicely.

Oct 2 Option Trades Update

With the strong rally in the US market last night, being 1st day of trading for the new quarter, Asian markets followed suit today as we speak. I wrote some N225 Dec 20000 Call Options for 15 pts. ACH went up by some 5% plus to $73.90. At this rate, my ACH Oct call options(60s & 65s) look likely to be called out as long as ACH remains above $65 come expiry day(Oct 19).