Jan 31 Option Trades Update

I have been travelling & not doing much blogging this period. In any case, my covered calls positions are in the pits with the WW market trading considerably down from the start of the year. My naked call writting positions on the other hand are doing great & generating good income monthly. Recently, I wrote the Apr 17000 & 16500 N225 call options for 15 pts.

Jan 9 Option Trades Update

Wall street closed with a large loss last night.

The Nikkei gained 70.49 points to 14,599.16 Wednesday, its second positive close in two days. From the charts, there perhaps appears to be more room to grow. I am looking out for opportunities to write N225 Mar 17500 calls & also started looking at N225 April's calls.

Jan 7 Option Trades Update

Japan's Nikkei average hit a new 17-month low on Monday, closed down 1.3 percent at 14,500.55 after shedding 190.86 points causing further decays to the premiums of the call options.

Jan 4 Option Trades Update

Japan's Nikkei closed down 4.03 percent on Friday, its first trading day for a week, hitting its lowest close since July 2006 after being battered by a stronger yen, higher oil prices and worries about the U.S. economy. The Feb & Mar N225 Call options further decline in premiums to my favour as below:

Jan 3 Option Trades Update

The new year was off to a rocky start as Wall Street skidded lower Wednesday. Asian markets follow suit & are sharply down Thursday. Japan market is closed & will only open tommorrow. Shares of HGSI rose 7% Wednesday after Leerink Swann & Co. upgraded the stock, citing the biotechnology company's partnership with GlaxoSmithKline and the blockbuster potential of the drugs they are developing together which bodes well for the covered call play.

Dec 31 Option Trades Update

Wall Street ended a painful year with another steep loss Monday & it appears that 2008 would continue to bring more uncertainty & turbulence seen in 2007 as overarching concerns about the economy continued to weigh on investor sentiment. The strategy for 2008 would be to trade light on assets(i.e selective buying of stocks & covered calls plays) but focuses more on writting index futures options on volatility especially Nikkei 225 which has worked very well in 2007...generating almost 100% returns against the account. For those covered call positions already in placed(C, NVDA, HPQ, DELL, GG, HGSI) , continue to write secondary calls options. Here wishing everyone a fantastic 2008! Its up to ourselves.

Dec 28 Option Trades Update

Wall street fell sharply last night perhaps due to concerns over potential unrest abroad after Bhutto's assasination.....Asian markets appears to be taking the cue on Friday as well. The benchmark Nikkei average finished Friday's half-day session down 1.7 percent or 256.91 points at 15,307.78.

Dec 26 Option Trades Update

The benchmark Nikkei average ended the day up 0.7 percent or 100.95 points at 15,653.54, its highest close since Dec 12. ....& I wrote some new N225 Mar 18500 call options for 15 points.

Dec 25 Option Trades Update

Merry Christmas!! The US stock market opened last night with an upbeat tone and retained it through its early close at 1:00 ET. There were little news to prompt the gains which are best ascribed to seasonal factors. The Tokyo market had a full-day session on Tuesday, while most Asian markets, including Hong Kong and Singapore, were closed. The benchmark Nikkei average ended the day up 1.9 percent or 295.59 points at 15,552.59, the highest close since Dec. 12. I am sitting tight here till next year before taking on any new Mar Call options positions.

Dec 24 Option Trades Update

With Santa Claus coming to town in this week, plenty of participants are expected to remain sidelines. This week is light on scheduled events as the business of Wall Street will take a backseat to the business of Main Street. It's worth noting, too, that Monday today marks the start of what has been labeled the Santa Claus Rally period. It has been observed by the Stock Trader's Almanac that the period covering the last five trading days of a year and the first two trading days of the new year often produces a respectable rally. I am already set up for Jan, with some Jan covered call positions (C, HPQ, NVDA, Dell, GG, HGSI)hoping to capitalise on the rally if any.... For the longer haul, I also have EWS positions being still bullish about the Singapore economy. I will be looking out for opportunity to write Mar N225 call options early next year(18000-18500)......while the Feb's Call options are almost homesafe. Meanwhile, I wish one & all a Merry Christmas & A Happy New Year. May 2008 be a fruitful year!!