My first RIMM!

On wednesday when RIMM (the Blackberry company) was at $95+, I decided to buy an October 105 Call option. It's 2 steps out-of-the-money and it supposed to cost me $4.40. I'm quite keen to get RIMM but yet, I'm unwilling to fork out $440. I set a limit price at $3.85 and went to sleep at 1.30am (SG time). Haha, the limit price was executed around 3.30am at $3.85.

RIMM is expanding into China, with 2 new great products coming into the market and with very strong stock momentum. On thursday, stock price rallied to close at $100.50 (a jump of $4 plus) in anticipation of the company's Q3 earning report after market close.

Industry estimate (based on Briefing.com) was 0.49 and RIMM reported 0.50 with upside guidance. On friday, the stock gapped up $7.19 on the opening bell and next, it passed the criteria for guaranteed profit as determined by The Chicago Trick slightly before 11am ET.

And me, I made a 136% profit (my highest in recent days) when I close the position $9.10. RIMM continued to rally to the $114 region and the option i trade hit around $10.50 or more.

My first RIMM!

Concluding NOV trade...

I finally concluded the whole trade saga on NOV (National-Oilwell Varco). Despite the whole hiccup on MB trading platform, I made a gross profit of US$1 (ya, it's only one dollar!). And after all commission and admin fee, most probably I lost a net of US3.05!

Here's the details of the trade:

(1) Bought NOVJY (NOV Oct 145 Call) at 7.80
in anticipation of the stock split of NOV (payable on 28 Sep and execution on 01 Oct) on Friday 28 Sep

(2) Sold NOVJY (NOV Oct 52.5 Call) at 15.00
Stock Split on Monday 01 Oct and I thought I profited US$720 (as posted here on Monday)!!!

(Note: I sold at a 'profit' on MB platform, since it's a green on my position window. But the symbol part was erroneous!)

(3) On Tuesday 02 Sep, I apparently got a short position NOVJY (NOV Oct 52.5 Call) and 2 long positions NOVJV (NOV Oct 72.5 Call). These 2 long positions should be what I had on Monday instead of the 15.00 NOVJY. I bought back the short position at 13.80 and sold one long position at 3.30.

(4) Sold the other long position at 3.31
on Wednesday only after MB platform recovered the options execution (Ya, many options were in chaos with all expiration dates wronged and no option execution can be done till 11am ET).

In summary, my gross profit is only US$1.


P/S: If you think you read wrongly, you don't. MB platform gone went all the time. The last time (about 2 weeks ago), I got lesser cash balance because of their system error. Fortunately, I always screen capture everything in trading!

P/P/S: I'm going to withdraw my cash asap and switch back to IB or OX or some other trading platforms.

Error on NOV splits trade!!!

This is maddening!!!

Today when I opened my trade platform, I got 3 positions: 2 long NOVJV and 1 short NOVJY.

And these were losing counters. I sold NOVJY yesterday for $15.00 to close, but apparently, this was an error. Today, the MB Trading platform revoked the order. And this became a short position. And the bought leg (from last friday) splits into 2, and hence the 2 long NOVJV.

I called MB Trading and they said I should cover the short position by the end of the day!! And I have to incur the losses despite their technical fault!!!

Let's see if the market reverse and how much I can salvage the trade. Maddening!!!

Another Split WIN!

This time round, I profit from the stock splits of NOV (National-Oilwell Varco). I bought into it 'accidentally' on last Friday when I limit the price of $7.80 for the NOVJY (NOV Oct 145 Call). Despite the Ask price then was $8.40, it plunged to execute my trade at $7.80. And then, the call option closed at $5.50.

As always, stock splits will result in the stock price to rise on the execution date (which is Monday ET). I sold it off at $15.00, but the price continue to rally to around $16.00. (although the price rise shouldn't be this much!)

Great! Another stock split win - profit of $720 or 92.3%!!!

P/S: In case, you are wondering how come I claim only $720 profit instead of $950... The reason is the trading platform displayed a daily PnL (as mentioned, the option closed at $5.50 and I exited at $15.00) and hence a $950 closed PnL displayed.

8 cents profit from an US$1.7K investment!

On friday, I entered a credit spread on $SPY. I 'risked' US$1,725 to earn a measly US$75 profit(which translated to only 4.3%). There's a total of 18 pairs of spreads (i.e. 36 legs).

Unfortunately, the trade was executed on optionsXpress and the commissions summed up to US$74.92! If you still don't understand what it meant, my net profit is only US$0.08!!!

Once again, Stupid me to invest US$1,725 to earn US$0.08!!!

Hanoi Traffic

I was taking a look at my photos and videos took at Hanoi and I found this one extremely interesting to share.



You can see that the traffic there is truly chaotic; and you can literally cross the road without looking for the coming motorbikes!!