Monday, May 09, 2005

GOOG Profits

I'm still looking for Summer premium to sell. I sold June 25 puts on CBH today. They are ~8% out of the money. I've been watching this stock as a candidate for several months. It was down today because some of their former executives got convicted or something. This was a pretty good price but not as much "edge" on them as I would have liked. Apparently Cramer says to wait a day to buy this stock. I might have been a little jumpy on the trigger finger today because I've been watching this stock for so long...maybe I should have waited.

I needed more capital for opening positions in summer options so I also closed out the May GOOG position for a profit of $93/spread.

It is looking like I was premature in closing out my TWX position last week. That thing has consistently stayed above the strike and I think it most likely will until expiration.

Doubling up on LU common for the longterm portfolio a little while ago, appears to have been a good idea in retrospect. LU is up big because they announced a buy back for some convertable prefered shares.

I worked on the earnings volatility buying system this weekend. I think my earnings data downloader is done, and I am currently testing it the background while I work. In a few hours when I've confirmed for sure that it works I'm going to start on step 2, by purchasing options data.

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