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.