Option Trades April 2006
It’s been a BADDDDDD month! The market was extremely unkind. My biggest loss for the month was MCO, it took away about 70% of my profits (yes, from my recent USD$1000 profit milestone!). Just look at my trades below, you’ll see that I bought 3 contracts at an average price of $2.65 and sold it at a measly $0.05. It was the day that MCO’s earnings was announced and it didn’t meet the analysts’ expectation. At the opening of the market, I made market orders and limit orders to sell MCO but it kept getting rejected… The bid/ask price for MCO’s option was 0/0 and I watched MCO as it dropped like crazy.That went on for about 20 minutes. When the craziness finally stopped, the option finally showed some numbers and it’s 0/0.5… and of course, my stop loss was triggered. OUCH! That was a $780 loss excluding commission.
MCO Dropped like a Brick!
As for ECLP, 2 contracts were sold at a loss but another 2 at some profit. Comes up to $70 gross profit. At the time I was holding ECLP and decided to sell some at a loss, I was feeling a bit edgy with all the losses I’ve made. I guess I should have been more patient.
A string of losses…. FNM, SINA, TTWO… sigh. See my results next month, I’m sure I’ll have my USD$1000 profits or more back in no time! Watch me! 
Balance after exit trades made in April: $2,206.34 (-30.86%)
| EXEC TIME | SPREAD | SIDE | QTY | SYMBOL | SPC | EXP | STRIKE | TYPE | PRICE | NET PRICE |
|---|---|---|---|---|---|---|---|---|---|---|
| 05/04/06 22:29:42 | SINGLE | BUY | +1 | FNM | 100 | MAY 06 | 50 | CALL | 4.80 | 4.80 |
| 07/04/06 01:29:44 | SINGLE | SELL | -1 | FNM | 100 | MAY 06 | 50 | CALL | 4.30 | 4.30 |
| RETURN: -10.42% | ||||||||||
| 12/04/06 22:28:19 | SINGLE | BUY | +3 | JAH | 100 | MAY 06 | 30 | CALL | 3.10 | 3.10 |
| 20/04/06 22:54:57 | SINGLE | SELL | -3 | JAH | 100 | MAY 06 | 30 | CALL | 3.20 | 3.20 |
| RETURN: +3.23% | ||||||||||
| 18/04/06 00:14:55 | SINGLE | BUY | +3 | IBM | 100 | MAY 06 | 80 | CALL | 3.30 | 3.30 |
| 19/04/06 21:37:42 | SINGLE | SELL | -3 | IBM | 100 | MAY 06 | 80 | CALL | 3.70 | 3.70 |
| RETURN: +12.12% | ||||||||||
| 18/04/06 21:58:49 | SINGLE | BUY | +1 | MCO | 100 | MAY 06 | 70 | CALL | 2.75 | 2.75 |
| 18/04/06 22:12:46 | SINGLE | BUY | +2 | MCO | 100 | MAY 06 | 70 | CALL | 2.60 | 2.60 |
| 26/04/06 21:55:42 | SINGLE | SELL | -3 | MCO | 100 | MAY 06 | 70 | CALL | .05 | .05 |
| RETURN: -99.07% | ||||||||||
| 20/04/06 23:11:35 | SINGLE | BUY | +2 | SINA | 100 | MAY 06 | 25 | CALL | 2.65 | 2.65 |
| 26/04/06 23:04:34 | SINGLE | SELL | -2 | SINA | 100 | MAY 06 | 25 | CALL | 2.10 | 2.10 |
| RETURN: -20.75% | ||||||||||
| 24/04/06 22:37:54 | SINGLE | BUY | +4 | ECLP | 100 | MAY 06 | 25 | PUT | 2.40 | 2.40 |
| 27/04/06 22:28:21 | SINGLE | SELL | -2 | ECLP | 100 | MAY 06 | 25 | PUT | 2.20 | 2.20 |
| 28/04/06 22:24:29 | SINGLE | SELL | -1 | ECLP | 100 | MAY 06 | 25 | PUT | 2.90 | 2.90 |
| 28/04/06 23:09:39 | SINGLE | SELL | -1 | ECLP | 100 | MAY 06 | 25 | PUT | 3.00 | 3.00 |
| RETURN: +17.50% | ||||||||||
| 27/04/06 22:20:24 | SINGLE | BUY | +2 | TTWO | 100 | MAY 06 | 15 | CALL | 2.65 | 2.65 |
| 03/05/06 00:59:14 | SINGLE | SELL | -2 | TTWO | 100 | MAY 06 | 15 | CALL | 1.85 | 1.85 |
| RETURN: -30.19% | ||||||||||
* After commissions, SEC fees, interest earned, non-resident alien withholding
Total loss for the month: -127.58%
Average loss for the month:-18.23%
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