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Trading Results 3/18/11

Today was a good ending to a good week. I am currently in a hotel that has a waterpark with my family so I will make this post a little shorter than today would normally warrant.
Today was option expiration day and while a little scary at times I was able to capture a fair amount of premium. GES puts that I sold yesterday at the close ended up stopping me about 30 minutes before the close cutting my gain by 10 cents before GES moved back above the strike price.
I wrote an article about FNSR and while I planned to trade it on Monday I missed the trade as I had a visitor on Monday. I spend almost all my days in my office by myself and so I am very thankful to be able to share ideas with other traders in the chat room. I believe that FNSR was sold off after guiding lower than expected and today I was able to use that research to my advantage. I sold some puts very near the opening bell. As the day went on the time decay worked it’s magic and it was set to be a good trade. With about an hour to go someone put up a 10 cent bid in what appeared to be someone who simply wanted to get the weekend started. I hit the bid for about 25 contracts and the other 20 contracts was quickly taken by someone else. It was a little touch and go for a while and FNSR found the way higher. Near the end of the day though FNSR started to fail and move towards the strike price. I covered some at five cents and some at two cents and finally left the rest to see if the price could stay above the strike price until 5pm cst (the latest time to exercise). I am unsure if the price did stay above or not as we left for the water park before 5pm

I had a few other good trades today and one that I missed the bulk of due to leaving my desk for about five minutes. I also watched HPQ for much of the day as I want to add it via selling puts into my IRA accounts. COCO was added to my account today due to some $5 puts being ITM. The premium didn’t cover the difference between the current value and the strike price but at least it is close. I still maintain my bullish bias so I don’t mind owning some more.

Have a great weekend