SURVIVING THE GAME

MAY 18, 2009

2009 - 30

MARKET COMMENTARY:

Decline continues to set in. Futures down again in Sunday evening session. S&P 500 nearing 875. As mentioned, lightening up on long positions was a good idea. The question is...how far will we pull back? I suspect we have a bit to go, probably down to 800 on S&P 500. You can lighten up a bit more if desired and get in lower.

TRADES:

I closed my USO July positions on the big spike up on Tuesday. Sold the JULY $35 calls at $150 each. Net a small loss of $1080 on that position. Still have USO JAN 2010 positions.

Sold an SPY straddle. Can't say which one but it is below current market levels of $88 on SPY. Netted $845 per straddle. Did 25 straddles for portfolio. Risking +/-1.5% of portfolio for potential 7% gain

OPEN POSITIONS:

Still in USO, SU, JULY OIL straddle, GAS and uraniums. Hold.

Options Guy
Editor
Surviving The Game
optionsguy@shaw.ca