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OPN +16% in a Brutal Week

Published on November 10, 2007

OPN +16% in a Brutal Week

November 10, 2007

(for details pls visit www.OptionPundit.net)

Simply beautiful! That’s the only word that comes to my mind when reporting this week’s gains for OPN. Overall OPN Nov’07 portfolio increased by a positive 16% vs last week despite all the turmoils in the stock market (These returns excludes any speculative trading retruns). As of Friday closing Nov’07 portfolio is up +39.5% while I have 35% free cash available. This is another month of not a single losing mini-portfolio. Why such high returns for an “Income trader”? I shall post my thought on forum under OPN.

We are approaching option expiration week and my priority will be to close all these portfolio’s by early next week. I shall leave whatever theta is left. I don’t care for it as it has way over delivered my targets. Just to share a perspective, if (and only if) my underlying remains almost flat, OPN Nov’07 will result in roughly above +50%. But hey, no coulda/woulda/shoulda. Count only what’s in the basket already.

Thank you all the OP readers for your interest in OPN. I have not yet thought of re-opening it, maybe sometime in Feb as I am planning for holidays in end December till end Jan’08. Also a time to contemplate if I really followed my this year’s resolution that I thought of at the beginning of the year and if yes, what worked, what didn’t and what needs to change. Am I being too early to think of this? No I don’t think so, need to think well before it bites.

Mr. Market, thank you for behaving 2nd time the way you tought me over nearly a decade. Of course, you don’t entertain me but you teach me slowly (sometime abruptly) on how shall I read your “moves”.

Happy weekend, profitable trading, OP

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