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Today’s Transactions:
Closed SPWR Sep 90 Put at $23.70 Reason: The stock is doing pretty well in a big down day(indicating more buying power than selling power) in spite of secondary offers and convertible offers. So close the position and move on.
Closed FRO Aug 55 Put at $9.10 Reason: It is usually cheaper to buy short-term option. However, there is a cost associated with this. That is, you get less cycles(one up and down is considered as a cycle) to play before the expiry date. Although it is likely that FRO would eventually reach a price lower than today\'s closing price, it may also have a short-term rebound and close at a cycle high on the option expiry date. As I expect the market may have a short-term rebound, so just close the position and move on.
Closed CROX Jan 20 Call at $30.50 Reason: This is a high growth stock. Although I like the growth perspective, the valuation is much richer now compared to two months ago when I purchased the option. So closed the position and take profits.
Sold part of MU at $12.14 Reason: The DRAM market contiunes to struggle with over supply issue. So sell part of the position to raise cash for other better opportunities.
Today’s Return: -2.47% Return since inception(June 05, 2007): 13.37% S&P 500 Return since June 05, 2007: -3.67% Leverage: 1.36
My positions:
Long: GRMN Oct 07 40 Call GRMN Jan 08 50 Call PG UTSI Jan 09 10 Call MS MU SNDA
Short: XHB Dec 07 40 Put
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