SURVIVING THE GAME
APRIL 23, 2009
2009 - 27

It has been 9 days since my last post. Guess what....nothing has happened. The sideways action in the markets continues. I posted on April 4th and the S&P was at about 845, I posted April 14th and the S&P was at about 845 and today the S&P is at about 850. I see more sideways to down in the near term.

As you can imagine this sideways action is incredibly profitable for short straddles. I am still in the SPY MAY $82 and doing great. The MAY $75/89 strangle is doing even better. I can't say how good but it is really good. These expire May 15th.

I closed a trade today in crude oil. I sold the June $53 straddle for $890 each on April 6th. Closed it today for $665 each. I did 5 for the portfolio. Net gain of $11,250. I put on 2 new straddles in oil today, one in June and one in July. Can't say which ones but you can probably guess.

Also started a new straddle in SPY for June. Again, can't say which one but it is close to where we are now.

Still in USO, SU and uraniums.

Uraniums starting to outperform general market. Up about 25% since getting in March 16th.

It has been quiet for 2 weeks, no trades until today. Portfolio approaching +40% since Oct. 6, 2008.

Options Guy
optionsguy@shaw.ca