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.

Oct 1 Options Writing Trades Update

Stocks in Japan and Australia bounced higher on Wednesday and the yen steadied as investors edged away from safety plays on hopes that a salvaged Wall Street rescue plan in Washington could keep global equities rallying. All eyes are now on how the saga will unfold. I am dugged deep on the Oct Puts & Dec Calls which are still vulnerable to huge swings.... not an ideal situation & will call for some intense trading.

Sep 30 Options Writing Trades Update

The Nikkei average slid 4.1 percent to hit a three-year closing low on Tuesday after U.S. lawmakers rejected a $700 billion bailout plan which caught Wall Street off guard. The benchmark Nikkei shed 483.75 points to 11,259.86, the lowest finish since June 2005. It earlier lost nearly 5 percent. In fact most Asian markets came off their day's low reflecting optimism that Congress may still act this week to approve an economic rescue plan. Wall Street rebounded Tuesday but whether it can pull through the day remains in question. We are now in a critical moment to say the least.

Sep 26 Options Writing Trades Update

The benchmark Nikkei shed 113.37 points to 11,893.16, its lowest close since Sept 18. Trade remained on the light side throughout the week, with investors sidelined as negotiations about the $700 billion bailout plan fell into disarray after a contentious White House meeting. Nonetheless, the market biasness appears more towards the bill being passed with some sort of bail-out plan imminent. As such, we can see that the N225 Dec Calls are still pretty much holding their grounds much to my dismal. In the short term, its likely that there may be some relief rally, but then reality may set in thenafter as the economic conditions are very weak. I hope the reading is right of course. In any case, I dipped my toes back into the market today by selling some N225 Oct 10000 Puts for 20 pts.