Chevron Corporation (CVX) Trade 10-26-06

UPDATE: I sold my call options the other day. Sold 6 @ .80 and 5 a few days later @ .70 for an average of .75. This trade made a 115% gain!!!

Forgot to post this one. I bought a few Nov 70 call options on Thursday before they reported their earnings on Friday. They beat the streets expectations, and the stock rose. My options went up a little, and now are down cause of the whole election thing, but next week CVX will rebound. So I will be adding to my position this week.

ExxonMobil Corporation (XOM) Trade 10-30-06

This morning I bought a few Nov 70 put options for Exxon. With the elections going on, the street has worries that the house may get over taken by the democrats, or at least take half the seats. If this happens all alternative energy companies will get allot of attention, which means the oils/natural gas companies will be on the back burner.

UPDATE: I sold my put option this morning (Monday 11-6)Exxon will be going up,so I had to get out of my put ASAP. Chalk this one up as a 40% loss.

Corning Incorporated (GLW) Trade 10-23-06

This morning I bought 4 Nov 25 Call options. Corning will report their quarterly earning on Weds. They are expected to beat wall streets estimates. Corning manufactures LCD (liquid crystal displays (LCD) and LCD televisions) Going into the christmas season LCD's will be big sellers.

Option expired worthless.... 100% loss

Anheuser-Busch Companies, Inc. (BUD) Trade 10-23-06

This morning I bought 5 Nov 45 put options. Bud has had a strong run, but now money is moving into the cyclicals since the Fed has contiuned the pause on rate hikes. Bud also reports their quarterly earnings on Weds. 10-25-06. They are expected to be short of wall streets estimates.

Option expired worthless 100% loss.

AT&T Inc. (T) Trade 10-13

I bought 4 Oct. $32.50 Call options for AT&T on the morning of 10-13 in anticipation of AT&T's proposed buy out of Bellsouth. Once this deal gets approved both stocks will posts gains. The Federal Communications Commission was to vote on approval on that Friday afternoon. Well the meeting took place and the FCC stated they would delay the decision till Nov. 1st. This decision did not make the share holders all warm and fuzzy, so the stock took a small dive. My call options went from $1.20 (where I got in) to .25 cents. So I bought 4 more options at .25 cents, this brought my cost basis down to .72 cents. Now I hold 8 call options at .72 cents. This week AT&T stock made a come back on a few huge contracts that they won. My options went from .25 cents to $1.40. On Thursday 10-19 I sold 4 calls at $1.40 making a 94 % gain. So today on 10-20 (options expiration date) I sold the remaing 4 calls at $1.60 making a 120% gain.

This was a good trade, taking a losing trade and turning it into a big gain.

ps.. I am think about getting back in on the Nov. call cause the FCC will meet again on the 1st. AT&T also reports quarterly earnings on Monday the 23rd.

News Corporation (NWS.A)

On Friday 10-13 I sold my options for NWS.A . I bought 20 Oct 20 call options back in June before this blog exsited. I bought them for .60 cents. On friday I sold them for .65 cents. Before last week I was down big in this trade. My options were all the way down to .5 cents, a huge loss. But stuck it out and they came back strong this past week. I said, "if I can recoupe my losses, I will sell" so thats what I did. This is not what I would call a successful trade, but more improtantly it was not a loosing trade!!

Applied Materials, Inc. (AMAT) Trade 10-2-06

On 10-2 I bought AMAT Jan 08 20 put option. I got in at $3.40 an option. My target date for exiting this trade is in March.

UPDATE: I have added to this position. My cost basis is now $2.70

UPDATE 3-14-07: I closed out this trade today. It just isn't going how I wanted it to, and March was my close target. So this trade ended up being a .07% Loss.