Friday, November 7, 2008

GOOG was not moving, it was not moving up or down (-$1). At one point it was down -$5 and then moved back up again. I thought it would go down again soon that fear resulted in me selling the calls at a loss. I did felt better as I cut my losses on this trade. I was too quick on jumping on the calls this time. I will monitor the stock on monday again.

After my MA calls losing more then 1/2 of its value the stock started showing upward movement. I thought my inverse inverse strategy has started to work on this. May be I was too quick on buying these calls earlier in the week. I also covered the calls I was short of earlier in the day. As I saw the stock up, I assumed it has turned around and I doubled my position adding 3 calls to the existing 3 contracts. MA was +$4.5 for the day.