Exiting January spreads in full force now as profit price targets hit. Theta has worked it's magic. Spent the weekend working up a better, more efficient spreadsheet to work up and track my basket of spreads by month, all of which accomplished while watching NFL playoffs.
Up at 3:30 a.m. Wide awake so no point in doing anything but getting up to see what is happening in the foreign markets. /ES was down about 6 when I went to bed and is now flat so worked up some additional options spreads and reviewed the orders I currently have in (5). Will spen the 1st hour exiting my Jans and then looking for some stocks to do some calendars on that can be rolled a time of two. Will also be looking at some spread buys for small debits.
With S&P at 1280 would like to see a breakout to the 1300-1310 level and then maybe a pullback to 1235-1240 for another buying opp. It seems like it is about time for Europe to raise it's ugly head and show it's ass. Also concerned with the 4th Quarter earnings given that retail sales numbers are not looking so good. Alcoa reports tonight after the close so with that thought, may not enter any more positions except for the trades I currently have in as we may see some pullback tomorrow.
Looked through the 2012 Traders Almanac and may play the Wednesday up stat just for grins by buying a small block of SPY calls Tuesday night. It's one of those stats where you are forced to play it every chance you have for it to work so we will see. Also continueing to scalp the 80% VA rule as it presents.
Well, that's all for now.
Later gators!
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