Into MRK Jul 20 '13 $55 Calls @ $0.19...

Entry into same strike calls with earlier expiration date at entry price quite near to previous trade...

Smaller position...

Out of MRK Aug 17 '13 $55 Calls @ $0.32...

+$0.15 per share gain, or +88.23% gross profits...

Thank the Lord!! +4.04% on SBA + 5.07% on Roth IRA So Far...

Should I take profit or keep riding?

Pops on MRK, PER, and SDR calls...

On the one hand, I should really learn how to let my winners run whilst it's also beneficial to lock in my gains...

Into T Jul 20 '13 $37 Calls @ $0.26...

Could T rally 5% between now and 20 July 2013?

If it does, it would send my calls in the money and hopefully give my SBA a boost...

Into BAC Jan 18 '14 $18 Calls @ $0.15...

Still got the share buyback thing going for it and if it increases dividends before options expiry, there could be a lot more upside...

But I've been waiting forever for BAC to increase its dividend!

Out of SPY Jun 07 '13 $167 Puts @ $2.41 + Out of SPY Jun 14 '13 $165.50 Puts @ $1.96...

Thank God for the Buy the Dippers!  

Haircut of $0.45...

I've learned my lesson about put spreads...

Will need to study more and stop trading such huge positions.  

Cramer's Bold Fashion Move: Pink Shirt, Orange Tie!

It Was Not A BOGO Sale...

Good thing I had a massage and haircut booked today because the BOGO trade I thought I had put on turned out to be a real dud.  As luck would have it, my FB fiasco was a timely one as it made me see just how bad my SPY put spread setup is.  If I had found out what type of faulty thinking I was using to get into positions next Monday morning, I would be in hot, hot water.  My position on the SPY is three times larger than FB and I also stand to lose a lot more, so getting out now is key.  Essentially, someone paid me $0.29 to buy at SPY 167 and sell at SPY 165.50.  And I fell for it!  

I've been trading for 7 years now, so these types of rookie mistakes should not be happening any longer and I should seriously be minting money by now.

I'm going to have to run for my financial life tomorrow or the day after.  

The bulls seem to have made quite a comeback though...

+1.70% SBA
+1.42% Roth IRA

+0.92% DJIA
+0.27% Nasdaq
+0.59% S&P 

-0.88% FTSE
-0.70% Eurofirst
-3.70% Nikkei
-0.06% Shanghai

-0.76% SENSEX
-0.49% Hang Seng 


-0.36% WTI
-0.04% Brent
+0.13% Gold

-1.39% 10-Year US Treasury Notes

Sold Some SPY Jun 14 '13 $165.50 Puts @ $2.90 + Bought Some SPY Jun 07 '13 $167 Puts @ $3.68...

Net debit of $0.78...

Loss of $0.49 per share on this lot...

Looks like the Buy the Dippers may be coming in, so will try to get out of the rest on a definitive pullback.  Otherwise, I'll need to get out at a price that is worse than current loss...

If I had skills, I would try getting out of the profitable trade and then getting rid of the losing trade on pullbacks, but I'm a Fraidy Economiss...

Dude... Somebody Teach Me Some Math!

Got assigned on FB and got out at a minor loss of $0.19 per share...

Gotta find a way to get out of this SPY trade or it'll be ForexDiva: The SPY Who Killed Me soon...