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Trading Log
The Week of 30 Apr 2010 www.MarkJessing.com
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 I had the stop a bit too tight, so I had to get right back in (for a loss of jus over $1 - bummer-). I plan to roll up and out at $270, that is, I'll sell the May $260 calls that I have and buy the June $270 calls instead. That is for 2 reasons; I never trade options during the last 2 weeks of their life, and I only hold/buy options slightly In The Money (ITM) with a delta of around 0.65 or so. By the time I'm deep in ITM, there is less profit and more risk. |
 (April 15 was where ISRG missed earnings) I liked this paper trade [see below] so much that I decided to but the $360 puts (May if it happens by Friday and June if next week) as a real trade to get in if it falls under $353.82. (I think that around $359.90 to $368 level will be good for the stop.) I like this entry because it is under the white candle of last week. Also notice that there was a double top way back in 2007/2008. Really now, look at a chart and see what happened at $360, because that is a key price area and why it is dragging here near that $360 level. I expect it to eventually hit $333, where I'll cash out. |
 I bought the May $250 calls when it hit bounced off of the 10ema, just after the opening bell. Came close to the stop, but bounced. Stop is at $255.56 and my target is $270 (then I'll roll it up to a $260 call ond out to June). |
 This is Agilent, ticker "A". I bought the May $35 calls when it hit $36.52 on Apr 26th. Came close to the stop on the close today, but bounced on high volume just above the stop (yea! I love it when it does that). |
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