Thursday, December 11, 2008
Santa Claus Trading Update
After a bad week or so my accounts finally had a decent day with SKF and SRS both rallying almost 20 points apiece.
Since my last trading update - Got Squeezed....
On Monday I bought more SKF at 106.16.
I also wrote more calls against my Dell position, selling the January 12.5s for .90.
And on Wednesday, after the close, I added to SRS at 76.90.
Today, I took a loss on my December 25 puts in Wells Fargo. I had bought them 6 days ago for 1.25....today I dumped them at .77 figuring I had plenty of short bank exposure through SKF.
I am strongly thinking about taking some of my SKF and SRS off the table right now after the close....
But am leaning toward letting it ride. Hopefully this pig won't get slaughtered!