Not much going on here. I'm still holding the bean-meal spread, lumber and crude call. Crude took a big dip today which brought the premium from $720 to $240. My exit is at $100, so another $140 to go, which will give me $450 profit. This is why you want to sell options. All you need is a one big down day and you will see all the time decay it's got and options will get deflated.
On the other hand, I was ready to add one more leg on the bean-meal spread, but right before I got it, it turned around started heading down, so I guess I will wait. If it goes up, I'll add, if it keeps going down, I'm profiting from my current position anyway.
Lumber is not doing anything. I'm waiting until the 2nd part of this year to start kicking. If it starts move, I'm seeing at least $15000 profit. I would like to see profits, but I must be patient.
Tuesday, May 27, 2008
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