Friday, February 02, 2007

Friday's Trading Results


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Well, since I haven't taken any options trades for a 2 whole days (it actually seemed longer), my fingers were just itching to cause me to make a mistake. Either that, or GOOG really did intend to punish me for slaggin' Blogger. Whatever.
My routine to prepare for an options trade is somewhat similar to my routine for preparing for a regular trade. With the GOOG options trade, guess what? I didn't have an alert level worked out prior, I didn't look at the 5-day chart, I didn't study the chart of the options that I was interested in trading. Net Result? Here, you may as well take 2 $100 bills from my pocket.

I closed out the following stocks:
HANS @38.98, TSRA @42.66, CYTR @2.80, @17.90, UUU.v @5.96

I bought the following:
NMX Mar07 140 Calls @2.0 (stupid mistake on the entry which just happened to not cost me).
GOOG Mar07 550 Calls @1.95 (sold a few minutes later @1.55).
OMRI @36.11
Still holding onto RSC.v, and ACN.
I resorted to scalping RIMM in a weak attempt to recover some of my losses in the GOOG options day trade.
As mentioned in my prior post, the GOOG options trade accounted for over half of my losses today. The remaining losses were just from selling below yesterday's closing prices.

Just not a nice day in general. Staying smart is not too easy for me. I continually need to fight off these bad habits that keep re-surfacing. I thought I was making tangible improvment in the patience department, but today's rush to get back into options told me I still have a long way to go.

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