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Trades the
Week of Oct 8, 2010 Page updated 9:30am Tuesday Oct 11 www.MarkJessing.com
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| This is just my trading commentary, not my advice to you, but the S&P closed at May price levels again, building momentum to the upside. I'm doing almost all call trades again this week. | Follow me on Facebook | Chart program that I use sold by: Better Trades (originally written by Genesis). My broker is OptionsXpress, but just opened Think or Swim. |
| Last month +$76 TSCO Nov $35 calls Bought 10 @ $3.90 Stop @ $37.32 Fri close @ $4.20 Total: +$300 | Total: -$68 AAPL $290 Straddle Bought 1 Jan put @ $19.20 Bought 1 Jan call @ $22.95 shorts: Sold Oct $290 call @ 6.90 |
| Monday after the close The S&P formed a doji, but the large white candle is still support in this uptrend:  TSCO continues sideways, but the stop is still $38.22  AAPL shows weakness, so I sold a Oct $290 call against my Jan $290 and plan to cover it as it falls. If AAPL goes up from here, I'll roll the Oct out to Nov. I also plan to sell a Oct $290 put against my Jan $290's if it falls in the next day or so:  | |
| Thursday after the close The S&P is holding Tuesday's high, giving us another leg up:  TSCO is sideways, but the MAs are comming up. Stop still at $36.22:  AAPL is moving sideways and didn't quite finish the Adam & Eve bottom. It may attempt to go to $275, but is more likely to just move up and down. I'm going to buy both a $290 call and put here at the money and then sell against the position until it breaks out of this sideways movement. I'm buyint the Jan 2011, but will sell front month against it. I'm looking to sell the $295 calls if AAPL goes to $295 and/or if AAPL goes to $280 I'll sell front month puts at $280. When it picks a direction, I'll then buy a call or put 6 weeks out from that time. - Update- Put order filled for the Jan $290 on the open; now looking to fill the call side of Jan $290s:  | |
| Tuesday after the close The S&P hit a fresh high as it pushed through the top of the last rising 3 pattern. We now have a new up leg to the bullish pattern:  AAPL went up in all the buying frenzy, so it hit my stop. I'm looking for a double top to re-enter puts, but I want to see weaker volume as it goes up:  TSCO was doing well, then it sold off just befoer the bell. Makes me wonder what's going on, but it held the 10ema, so I'm still leaving the stops wide:  | |
| Monday after the close Friday the S&P was down quite a bit, but still within the large white candles and holding the 20sma with a line/box pattern that will become supp/resistance when it moves away from this range:  CTXS hit the stop yesterday...and of course it reversed seconds after. Well, at least it feels that way, but it seems that there were buy orders there near my stop. Still, I wanted out if the up TREND ended and it did. Unless strong buying continues, it will continue to fall. The volume is much higher on down days and the black candles are bigger than white. End of trend. I'd like it to go down a bit more and reverse on lower volume as it goes up to form a double top. Then the bollinger bands would close on it and push down. That would make me want to get puts, so CTXS is still on my watch list. If it goes up on high volume right now, I'll consider getting back into calls near $69 today:  AAPL fell and is paying me. Too bad I could only afford 1 put, because the put is up $5. I'll tighten the stop to $286.88 but will move it down to $282.88 if it stays under Monday's range:  TSCO looks good and is in a Rising 3 pattern, well above the Moving Averages:  |
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