Friday, February 25, 2011

2/25 Daily Summary

Which trader are you? The guy on the right or the one on the left? Always go back to this video when we enter the roller coaster:

Choppy action in the last 4 days to say the least. I did not touch the position Today as it did not go above my contingent order level. For now I'll enjoy the weekend, it certainly looks like slippery slope if we keep going higher, on the positive side I have a good amount of negative vega, which will help if we go higher or stay quiet and the vols deflate. If we keep rising I might sell the further out put and add a long call to reduce my deltas while still keeping some put protection. Today's action was performed in low volume, so this kept me happy without making any drastic adjustment yet.

For now, enjoy the weekend, don't drive too much as oil prices are rising.. :)


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