January 30, 2011 Trade Update

Hi All,

I apologize for the lack of postings over the last few weeks. As many of you know, I was on vacation in Florida till last Tuesday and when I got back I was very sick all week. Currently I still am not feeling very well but I am managing to catch up. Below is a review if the trades and any adjustments I have made since 1/15/11.

Feb 55 – Nothing has changed with this trade. I am 1/3 entered into the position and it is currently up about $790. The price target on this trade is $1500. The position is shown below:

The Feb method 15 was entered on Tuesday, Jan 18.  I believe the market was at about 807 when the trade was entered.  I entered a 750/800/850 butterfly for $18.00.   The trade entered closer to the money than usual because the 55 day trade was still one contract well below the current price and entering the market here would put me in a better position should the markets continue to rise. I held that position till Friday Jan 28. On Friday I adjusted the position by adding a 720/770/820 put butterfly for $19.95.  The position is currently up about $490. The profit target on this position is $1200. The position is shown below:

The new SPY trade was not entered this month.

The March 55 day trade was opened a bit late as I was on vacation. I opened the trade on Wed, Jan 28, 2011. I entered a March 720/770/820 put butterfly for $12.40 when the market was at about 792. Currently the trade is up about $180.00 and the profit target is $1500. The position is shown below:

That is all we got on for trades, I’ll keep you updated with any changes.

Happy Trading

John 🙂