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Today’s Transactions:
Opened GOOG Mar 08 500 Call at $165.00 Stop if the stock is below $600 at close Reason: The valuation of the stock is very reasonable at this point. Of course in the short run the stock may face continuous pressure caused by the broad market. Opened DRYS averaged at $85.60 Stop if the stock is closed below $70 Reason: The stock has really low forward PE after being sold off sharply recently. The risk/reward is worth taking a bet. Closed BIDU Dec 550 put at $235.80 Reason: the selling off is a little extensive. A rebound is very likely in the 300 – 320 level, so just close the position and book profit.
Today’s Return: -1.50% Return since inception(June 05, 2007): 132.34% S&P 500 Return since June 05, 2007: -6.50%
My positions:
PG UTSI Jan 09 10 Call GOOG Dec 07 400 Call SOHU BHO DRYS GOOG Mar 08 500 Call
FRO Feb 08 50 put CX Jan 08 40 put ITRI Jan 08 100 put
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