Tuesday, August 5th

What the heck happened today?

Wow!  Weird day today.  Down day across the board .  I'm not entirely sure how it all happened, but we got closed out of 2 of our positions from yesterday -- at better than our profit target.  So that's good.  We made money, but I don't know that we really should have.  I'm wondering if there was a papermoney quirk going on....  Unfortunately, I don't have a good way to verify that at all.  

Nick and I looked at everything, and we don't know what happened.  

For some reason, our IWM call vertical closed out twice, but we're still in it.  That's odd.  I'm chalking that up to a papermoney glitch, and we're ignoring the closes that happened today and just going to treat it as normal going forward.  I put our stops back on, per the rules, and that's what were going to do.

I wanted to put the YHOO condor back on, but it's out of our delta range, so that one is being left as closed favorably.

Other current positions:

MU --  I adjusted this to a trail stop since we're past the $0.10 difference between mark and our loss-side stop.  We're not yet to guaranteed profitability, but we're also not going to hit our max loss anymore.

All our other positions are in decent shape.  No action needed, and we'll see what happens tomorrow.

Finding a new position:

I now need to replace the YHOO that closed, so we can keep to our general practice of having 5 positions open at a time.  I told Nick he's been spoiling me.  I haven't had to look for a while.  :)  but I have to look now, so here we go.  I'm just going to go through my watch list and see if there's anything striking that pops out.

An hour later...

I went through my usual watch list and came up with one suspect. EEM.  It looks like it could possibly pop back down, so I put a conditional order on saying that the stock must hit $43.45 or go lower in order for me to get into this call vertical.  

So we'll see what happens tomorrow!

Happy Tuesday, in spite of trading oddities.