The markets are on a tear this morning after Congress resolved the so-called Fiscal Cliff matter late last night. In hindsight, I should have bought my entire position on Monday and not tried to play safe...LOL! Of course, my Wednesday morning quarterbacking is not going to change the fact that I had to pay a lot higher price(s) on buying the remainder of my positions in Sprint Nextel (NYSE:S), MEMC Electronic Materials (WFR) and SunPower (NASDAQ:SPWR):
So here are the balances from my original allocations:
Sprint Nextel: (S): $750
SunPower (SPWR): $2,034
MEMC Electronic Materials (WFR): $1,274
As per my gameplan, I went ahead and used up my allocations this morning and bought:
Sprint Nextel (S) May 18, 2013, $6.00 Strike Price at the Ask: $0.14
SunPower (SPWR) March 16, 2013, $6.00 Strike Price at the Ask: $0.61
MEMC Electronic Materials (WFR): $1250 to purchase April 20, 2013, $3.50 Strike Price at the Ask: $0.45
Later tonight, I will submit complete details of the trades and the current account status.
DISCLAIMER: All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is definitely not for the faint of heart as one's portfolio can move up, or down, anywhere between 10%-30% during a single trading day. Feel free to follow my progress here, but PLEASE do not follow my moves. However, if, in spite of all my exhortations, should you decide to do so, be advised that you, and ONLY YOU will be responsible for any losses that you may suffer...In other words, the onus is strictly on you.