[Weekend Summary]
Dear Member:
The Dow and S & P 500 are in uncharted and the Nasdaq is elevated to a level not seen for years. While some caution is generally a good idea, things still are looking bullish as we go into the earnings season.
I made $1.30 a share when I closed my LEAPS call position in Nvidia (NVDA). That worked out to a 12.4% gain or a little over a percent a day before commission. I opened a new position today buying the Jan '09 35 calls as the stock bounced back up off support.
The Sirius Satellite Radio (SIRI), SPY, and Citigroup (C) spreads all look fine.
The short leg of my spread on QQQQ has a paper gain of about 75% so it is doing what I want it to do.
Overall, another upward week for the Option trades.
Bill
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