Olympiad Day 27

Another bad day for the portfolio due to FMT as expected... Thankfully the software took the loss before it would have grown much larger by the end of the day. Also, I noticed today that the software is short TXU from a few days ago. This is a strange glitch indeed as TXU just got a buyout bid, in fact the biggest buyout ever. The software appears to have gone short on that day and is now at a decent gain that could potentially get much larger if that deal unravels. If I had seen that trade on Monday I would say it was pretty sily and no chance of any profit or getting stopped out. But what a difference a few days can make in the market.

Closing Liquidation Value: $116,526 -$1,682 <--Gonna be up tomorrow(knock on wood) Ps. On a related note to the TXU buyout and the types of options activity I would like to eventually implement into this software check out this article.

Olympiad Day 26

So how did the software fair against the biggest market drop since 2001?

New Positions:
Longs: (these were all stopped out)
194 RSH @ 25.83
92 ABT @ 54.46
73 CL @ 68.60

Shorts:
51 FXI @ 97.81
55 PCP @ 90.31
196 MR @ 25.56
192 VMED @ 26.06

Naked Options Sold:
50 NFI March 10 Calls @ .20
50 FMT March 10 Puts @ .80 <--Big trouble 50 CVTX March 10 Puts @ .15 <--Uhhh, not cool Closed Positions: Sold 63 CSCO @ 26.74 -.82 Sold 116 BBBY @ 41.46 -1.69 Sold 197 PCLN @ 53.01 +2.24 Sold 392 MAT @ 26.25 +.71 Sold 323 NWL @ 30.94 -.04 Sold 54 TSO @ 89.40 -3.1 Sold 203 MT @ 51.28 +2.06 Sold 100 MFE @ 30.86 -.68 Sold 94 XTO @ 52.12 -.83 Sold 100 EDS @ 28.70 -.75 Sold 100 DISH @ 41.64 -.82 Sold 200 NCR @ 47.05 +2.35 Covered 50 THLD March 5 Calls @ .05 +.50 <--Huge Trade (+95%) Covered 55 PCP @ 91.98 -1.67 <--DAYTRADE Sold 194 RSH @ 25.37 -.46 <--DAYTRADE Sold 266 NWS @ 24.41 -.65 Covered 50 Naked NRMX March 15 Puts @ 1.40 -.65 Sold 100 SNE @ 51.74 -1.50 Sold 200 ADP @ 50.00 -.02 Sold 101 ED @ 48.56 -.93 Sold 92 ABT @ 53.27 -1.19 <--DAYTRADE Sold 73 CL @ 66.85 -1.79 <--DAYTRADE Covered 196 MR @ 24.88 +.68 <--DAYTRADE Covered 64 MS @ 75.17 +3.07 Sold 200 NCC @ 37.56 -.62
Well, I think the software faired rather well today given the number of long positions before the big plunge. Fortunately, almost all of them were stopped out as soon as the market opened, which was the high for the indicies. At one point it was actually up, but a growing loss in naked FMT puts sold and a big loss in NMRX took their toll by the end. Also, the naked JADE calls sold last week paid off huge as that stock fell over 12%. But unfortunately, the software blindly sold some naked puts which I think are gonna end up biting the portfolio as this market falls further. FMT in particular posts earnings tomorrow and they are another sub-prime tanker... we'll see.

Closing Liquidation Value: $118,208 -$3,976 <--Could have been much worse...

Olympiad Day 25

Closing Liquidation Value: $122,184

Olympiad Day 24

Closing Liquidation Value: $121,698

Olympiad Day 23

Closing Liquidation Value: $120,734

Olympiad Day 22

This software is a beast!

Closing Liquidation Value: $122,735 <--NFI, NFI, NFI...

Olympiad Day 21

New Positions:
Longs:
79 NPRH @63.59
92 TIN @ 54.32
88 WFR @ 56.53
38 MLM @ 132.32
100 RMBS @ 22.01 <--How did RMBS show up in the 52-week high list!? 101 FSLR @ 49.41 Shorts: 251 CORS @ 19.86 124 APC @ 40.37 200 FBR @ 6.97 New Naked Option Positions: 50 THLD March 5 Calls @ .55 50 KRY March 2.5 Puts @ .10
50 NFI March 20 Calls @ 1.20 <--F@#$ING AMAZING!
50 IIG March 15 Puts @ .45 <--A big money maker last month (feb 20 calls)

Closed Positions:
Sold 88 WFR @ 54.78 -1.75
Covered 200 FBR @ 7.16 -.19
Covered 251 CORS @ 20.54 -.68

(See the screen shot above, the winners kept winning with a few of today's trades stopped out. no biggie)

Closing Liquidation Value: $112,065 -380 <--Op ex profits were offset by the cost of establishing new option positions (the spread causes an instant loss on market purchases)

Expect a big, a very big pop tomorrow as the software's biggest position hit a major home run today in the after hours. NFI cratered 45% while my software was long 22 NFI March 15 puts and short 50 naked 20 calls. word.

Olympiad Day 20

End of the first month!


Closing Liquidation Value: $112,418 <--12.4% in one month is decent, should be over 125k by the end (knock on wood)

Olympiad Day 18

In the above you can see a number of trades my software wanted to place did not go through or were not the desired size, this is a result of the growth in number of positions in the portfolio (see below).

If you are wondering why all these positions had such small size and also why most were closed 8 min before the close. The reason is because I did not have the margin to buy/short the full position. So the software went to the default size, which is small and only the cheap stocks actually went through. Then when the close came around these positions were forced to exit via a margin call of some sort. Another problem I have not talked about yet which has become increasingly important and is now crucial is the max number of tickers IB will let me get ticks on at once in the olympiad. So my software will try and buy stock, buy a stock but it won't be able to get the market price and hence goes to the default size. This clearly needs some work.

Closing Liquidation: $112,287 <--Closing in on 10th! (as of last week...)

Olympiad Day 18

Olympiad Day 17

New Positions:
Longs:
397 SNDA @ 25.18
200 SYX @ 28.64
197 PCLN @ 50.77
200 ADP @ 50.02

Shorts:
200 VMED @ 26.93
200 AVR @ 15.36

Closed Positions:
Sold 200 SYX @ 27.79 -.85
Sold 397 SNDA @ 24.90 -.28
Covered 200 AVR @ 15.48 -.12
Covered 200 VMED @ 27.08 -.15

Liquidation Value: $110,0448

Olympiad Day 16

New Positions:
Longs:
70 HYDL @ 95.56
151 NVL @ 43.97
266 NWS @ 25.06
205 BGC @ 48.72

Shorts:
538 MU @ 12.38
358 ENER @ 27.91
200 BQI @ 4.03

Long Option Positions:
Bought 8 NVL March 45 Calls @ .41
Bought 22 NFI March 15 Puts @ 2.40 <--Woh there, slow down....
Bought 27 MU March 10 Puts @ .05 <--Kinda cool
Bought 54 JRCC March 5 Puts @ .30
Bought 13 NWS March 30 Calls @ .05

This was part of a new strategy that was not supposed to run where stock trades are done in tandom with option buys. To amplify that proven strategy...

Naked Options Sold:
44 NFI Feb Feb 15 Puts @ .80 <--I'm confused how/why it did this, but bravo!

Closed Positions:
Covered 5 CBRX Feb 2.5 Puts @ 1.20 -1.10 <--Disaster of a trade this was
Sold 389 AXL @ 25.05 -.68
Covered 200 BQI @ 4.14 -.09 <--There was some error that caused this trade...
Covered 358 ENER @ 28.06 -.15

Closing Liquidation: $108,065

Olympiad Day 15

New Positions:
Longs:
389 AXL @ 25.73
144 AMX @ 47.42
144 HOT @ 69.25
439 OTEX @ 22.85

Shorts:
389 FMT @ 12.47
528 NEW @ 18.93

Closed Positions:
Covered 528 NEW @ 16.78 +2.15
Sold 120 ZMH @ 83.83 +.43
Sold 200 TTEC @ 32.70 -.61
Sold 75 VNO @ 131.18 -2.71
Sold 144 HOT @ 67.48 -1.77

Reversals took their toll on stock positions today...

Closing Liquidation: $108,010 +5,855 <--Up huge on MNTA among others...

Olympiad Day 13

New Positions:
Longs:
274 BMC @ 36.56
392 MAT @ 25.53 <--Fantastic
122 IWN @ 82.27 <--Fantastic
109 PCP @ 92.04 <--Fantastic
75 VNO @ 133.89 <--Fantastic

Closed Positions:
Covered 400 SIRI @ 3.71 +.04
Covered 300 NKTR @ 12.09 -.01
Covered 400 AMD @ 15.52 +.49
Sold 458 HC @ 22.65 +.57
Sold 100 PCP @ 92.10 +.06
Covered 242 SLM @ 42.53 - 1.19

Closing Liquidation: $104,655 <--A new record!

Today was all about naked options becoming more worthless as volatility dried up and expiration became closer. Especially in the crutial position of being short 65 IIG Feb 25 Calls, it made a fortune today on them.

Olympiad Day 12

New Positions:
Longs:
272 AVP @ 36.79
341 PAAS @ 29.32
270 MYGN @ 37.09
246 NVL @ 40.60
150 RDN @ 66.48

Shorts:
300 NKTR @ 12.08
242 SLM @ 41.34

Naked Options Sold:
15 IIG Feb 25 Calls @ .80 (total position is now 65) <--earnings tonight (crutial)
15 HEPH Feb 5.0 Puts @ .05 <--Wtf, needs some work here...

Closed Positions:
Sold 272 AVP @ 37.26 +.47
Sold 341 PAAS @ 28.50 -.82
Sold 270 MYGN @ 36.05 -1.04
Sold 233 NAV @ 45.66 +2.66 <--Very nice, but looks like I got shaken out
Sold 387 VRSN @ 25.42 -.41
Sold 124 TSO @ 82.77 +2.01
Sold 200 FXEN @ 7.69 -.41
Sold 246 NVL @ 40.25 -.35
Sold 201 TK @ 49.04 -.69
Sold 200 GRA @ 23.86 +2.51 <--Very nice also, but smaller size (from day 2)


Closing Liquidation Value: $99,937

I took a hit today on the maket swing which triggered stops in the new positions and also some previous big winners. NAV was sold for a big profit today then it closed at the high after the market u-turn. Also IIG was up big today ahead of earnings and my software has shorted a total of 65 Feb 25 calls. It is crutial that the stock does not move above 25 in the next week, if it does this should kill my chances of placing in the competition. Currently it is down over 3k on the postion, but the IV will evaporate tomorrow and it was 23 in the after hours last time i checked. So looking good.

Olympiad Day 11

New Positions:
Longs:
201 TRI @ 49.69
793 NVTL @ 12.63
111 CTSH @ 90.36
260 LEA @ 39.13
458 HC @22.08

Shorts:
801 NKTR @ 12.45 <--Every freakin day I short and cover this one, wise up!

Options Sold:
15 THLD Feb 2.5 Puts @ .05 <--Dumb
15 CVTX Feb 10 Puts @ .05 <--Ditto
The story of the day is a nightmare move in CBRX, the stock i sold 5 naked puts in. It gapped down 60% on bad drug results sending these puts skyrocketing and into the money...

Closed Positions:
Sold 88 ASD @ 52.90 -.26
Sold 200 SGP @ 24.61 -.55 <--From day two
Sold 793 NVTL @ 12.83 +.20
Sold 260 LEA @ 38.70 -.43
Covered 801 NKTR @ 12.20 +.25 <--What a pos stock this one is huh?
Sold 201 TRI @ 49.71 +.02
Sold 111 CTSH @ 92.95 +2.59 <--BRAVO! Trade of the day right here. (daytrade)

Closing Liquidation Value: $100,661

I'm down today on options related losses in IIG, AGIX, MNTA and CBRX. With the exception of CBRX I expect these losses to be reversed by expiration in a week, but we'll see. The stock trades are doing quite well, options not so hot today.

Olympiad Day 10

New Positions:

Longs:
139 DVY @ 72.08 <--Crap, an ETF. This will most likely be a permanent addition, as it will never get stopped out. Glitch in IB's system, I shouldn't get these in my scan.
220 CRM @ 45.58
122 IWN @ 82.08 <--Another ETF...
130 WY @ 77.14
103 HIG @ 96.91 even <-- (daytrade)
246 BK @ 40.7
116 D @ 86.06
189 CROX @ 53.02
(tried to buy 291 MAS but margin stopped it)

Shorts:
571 RACK @ 14.49
800 NKTR @ 12.5 <--A re-short from a few days ago, another case of the killer stops
(attempted 2882 NUVO)

Options Sold:

(taking a big loss on those BRLC calls I sold, otherwise very profitable. Up over 1k on the MNTA calls it sold and this should go to 3-4k in the next week)

Closed Positions:
Sold 200 LYO @ 31.66 + 3.03 <--- "200 LYO @ 28.63 <--Love it" -day four
Sold 208 MT @ 47.3 -.75
Covered 775 MU @ 13.09 -.20
Sold 246 BK @ 40.69 -.01 <-- (daytrade)
Sold 116 D @ 86.05 +.01 <-- (daytrade)
Sold 220 CRM @ 46.71 +1.13 <-- (daytrade)
Sold 100 CROX @ 54.94 +1.92 <--wtf? sheesh. (daytrade)
Sold 103 HIG @ 96.13 -.78 <-- (daytrade)
Sold 122 IWN @82.11 +.03 <-- (daytrade)
Covered 571 RACK @ 16.79 +.80 <-- (daytrade)
Sold 130 WY @ 76.65 -.49 <-- (daytrade)
Covered 200 NKTR @12.46 -.04 How about I increase the stop just for NKTR to -6 %? funny

Closing Liquidation: $103,274

Interactive Brokers Olympiad Day Nine

New Positions:
Longs:
188 ASD @ 53.13
1081 ONNN @ 9.27
208 MT @ 48.05
500 JRCC @ 7.22 <--Part of a new strategy of selling covered calls, not so hot. 500 ENCY @ 3.51 <-- " 500 BRLC @ 8.26 154 BEC @ 64.96 387 VRSN @ 25.83 695 PPCO @ 14.68 500 IMMU @ 4.29 <-- " Shorts: 648 CREE @ 15.40 786 NKTR @ 12.71 <-- I keep re-shorting this stock, it defies my stops!! grrrrrrr 500 KRY @ 2.86 Options Sold: 5 JRCC Feb 7.50 Call @ .35 5 BRLC Feb 10 Calls @ .20 5 KRY Feb 2.5 Puts @ .10 <-- A little cheap don't you think... Closed Positions: Covered 500 JRCC @ 7.22 even Sold 300 LGND @ 12.63 <--Too tight stops is a running theme here... Sold 190 DAKT @ 33.98 -.50 Sold 1081 ONNN @ 9.25 -.02 <--Damn stops!! Stops need to be less tight for cheap stocks. Sold 200 SUNW @ 6.57 +.27 <--Better than I expected Sold 500 ENCY @ 3.42 -.09 Sold 500 BRLC @ 8.56 +.30 <-- Ok, so maybe not a completely losing strategy Sold 500 IMMU @ 4.21 -.08 Covered 648 CREE @ 15.57 -.17 <--Stupid program, you should know CREE is going to zero.
Covered 786 NKTR @ 12.68 +.04
Sold 100 ASD @ 53.24 +.11 <--Just in time for the overnight cramer pump! (luckily only half)
Covered 500 KRY @ 2.89 +.03 <-- This strategy is gone.

Closing Liquidation Value: $102,294 +654