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February 7, 2011 Trade Update

February 7, 2011 by John Locke Leave a Comment

Hi All,

I made some minor adjustments with the moderate move up in the RUT today.

On the Feb 55, I rolled the 800/850 call spread out to 820/870 via purchasing a 800/820/850/870 call condor. The position is currently up about $850. I’ve got a profit target of $1500 which can be reached if the RUT stabilizes till the end of the week. The position is shown below:

On the Feb method 15, I rolled one of the two 800/850 call spreads out to 820/870 via purchasing a 800/820/850/870 call condor. The position is currently up about $1050. I’ve got a profit target of $1200 which can be reached as early as tomorrow if the conditions allow. The position is shown below:

The only other trade I got on right now is the March 55 day trade which has not changed and is currently down about $120.

The trade is shown below:

That is it for now, we are coming into the home stretch and I am ready to pull the Feb trades should the market act up too much but for now we will milk these for as long as is prudent.

Happy Trading!

John

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Filed Under: Options Trading for Income Weekly Update

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