OEX SPREAD TRADER

BELIZE NOVICE - OEX SPREAD TRADER

11 th. STRAIGHT WINNING WEEK
July 6t, to 9th., 2010

20 July PUTS 470/465 @ .15 cents with OEX at 481.82
$300 credit - $70 commissions = Net +$230 for the week.

Using $10,000 in cash margin, the return for the week was: .023 % on capital invested.
( Using web based paper money trading platform ) 2% or so comes out to 119% annualized.

**** I found the week difficult for this amateur. With the trend changing I could not get in the Spread at premium prices I wanted, with my RISK values. Finally Thursday, I took what I could get and increased the number of contracts. Still, a profit is a profit ! Just glad I did not lose anything and the nickels and dimes add up over time.
I learned how to use the THINKORSWIM platform and ‘close a SPREAD” this week. That makes this beginner feel a whole lot more confident, thanks to the assistance of Abigail Muehlech, Client Liason at TOS. I’d had trouble finding the way to do it, despite messages giving me instructions over the last two months.
Next week I work on using long SPY options as a hedge, as needed!