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yahoo stock, stock option
Weekend Summary
Dear Member:
It was definitely an interesting week in the markets. The Dow has certainly held strong and the SP-500 managed a light gain. On the other hand, the Nasdaq lost a little ground and is having trouble keeping up. I should note, though, that volatilities fell for the week on all three giving some credence to the thought that the uptrend may continue for a while longer.
I took a loss on the Yahoo (YHOO) spread this week as we came to option expiration. I'm considering an entry in some long LEAPS calls since the stock has remained in the uptrend.
Almost everything else is on the brighter side. I entered a straddle on Transocean (RIG) this week and the stock really took off. One of the nice things about a straddle is that you don't care which way it moves, you only care that it moves and moves relatively quickly. So far, RIG is filling the bill.
The spreads on Citigroup (C) and SPY are looking great.
The spread I created in self defense on QQQQ is also doing well. I will be looking for an opportunity to roll out (and possibly up) the June puts I sold against my Sept long position.
Sirius Satellite (SIRI)is still a disappointment though my risk is now very small having sold calls against my long position on earlier occasions. I intend to sell other calls as time goes on and at leas there should be plenty of opportunities since I own the Jan '09 2.50 calls.
Have a great weekend.
Bill
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