Fund A on Expiry Friday 21-Nov-08

A very volatile week for stocks and MS. MS ended at $10.05.
End results :- kept a total profit of US$5,890 only instead of the targeted full potential of $8,350 for the MS 4-step ladder. Because MS ended below defence line of option PUT-Nov-12.50. The other 3 options expired worthless and kept all profits.




10x MS-Nov-12.50-PUT (target profit $1,650). LOST -$800.
10x MS-Nov-10.00-PUT (target profit $1,100). PROFIT kept.
30x MS-Nov-7.50-PUT (target profit $2,430). PROFIT kept.
20x MS-Nov-5.00-PUT (target profit $3,160). PROFIT kept.

Lesson learnt. Should have closed all positions before travelling to US and take the profit earlier in the range of $6K to $7.3K instead of taking additional full 2-week risk for the additional $1K potential profit.

Fund A & B Update

Wed 19-Nov update as of 11:33pm

Fund A
SELL to Open 20x on C-Dec-7.5-PUT at $1.35.
SELL to Open 40x on C-Dec-5.0-PUT at $0.50.

Fund B
SELL to Open 10x on C-Dec-5.0-PUT at $0.50.

Tue 18-Nov-08 update

Fund A - Both MS and C Implied Volatility still high. CNBC showing Berneke and Paul Hanson answering questions.
C announced cutting workforce by 52,000 people and stock price dropping for the past 2 days, should be close to bottom now.
SELL to Open 25x on MS-Dec-5.0-PUT at $0.40.
SELL to Open 20x on C-Dec-7.5-PUT at $1.09.
SELL to Open 10x on C-Dec-5.0-PUT at $0.43.

Mon 17-Nov-08 Fund Series A & B Update

Today market dropped further since last week. Volatility for MS crossed 200% and C crossed 158%. Decided to setup some positions for Dec month.





Fund A
SELL to Open 10x on MS-Dec-7.5-PUT at $1.10.
SELL to Open 10x on C-Dec-7.5-PUT at $1.00.
SELL to Open 20x on C-Dec-5.0-PUT at $0.40.

Fund B
SELL to Open 10x on MS-Dec-7.5-PUT at $1.06.
SELL to Open 10x on MS-Dec-5.0-PUT at $0.45.
SELL to Open 10x on C-Dec-7.5-PUT at $1.03.

Investment Fund Series A Update for Fri 14-Nov-08

Reached home at 1:00am after coming back from Brazil. Was out the whole week. Zero trades. Looking at the past 5 days chart, market was quite volatile.
MS dropped to $12.03 at end of Friday 14-Nov. None of the stop-lost orders were triggered. All 4 steps of the ladder still in the money. 5 more days to go until 3rd Friday Option Expiry day.