11/19 - 11/21 Day/swingtrades

Wow, the last 2 hours of today were amazing! Options expiration, market rallying, inverse ETFs overbought...what more can you ask for. I felt like I missed some great opportunities the past couple weeks due to work. I'd pull up the charts in between meetings and late at night to see the amazing intraday volatility. I resigned to just sitting on the sidelines and not chasing anything the past few days. Well, after sitting on the sidelines since Tuesday morning, I finally got a reprieve as a late scheduled meeting concluded early. That left me with 1.5 hours before the market closed and plenty of time to get to the airport...and place a few trades along the way.


SKF - I did a quick scan of a few charts and noticed a potential double-top on SKF and SRS. I picked up some SKF Nov 280 Puts for $2.00 with the stock at $295. I placed an order to sell at the market at the close and headed for the airport. 30 minutes later I stopped off for lunch and checked the quotes to see SKF @ $270. Unfortunately, I checked my sell order and it was cancelled by the broker (something about a market sell at the close on options on expiration day, I'll check Monday). So, I placed a limit sell @ $12.00 and it was triggered 5 minutes later for $10.00 profit. Well, I took my laptop to lunch and decided the Nov 260 were looking waaaaay too cheap @ $0.70 and with the market rallying/short covering. So, on the SKF bounce back above $270, I plowed some profits back into the Nov 260 Puts @ $0.70. I dumped those 10 minutes later for another $10.00 profit. It would have been nice to hold everything right into the close but I haven't been able to keep up with the intraday market action so my trading emotions have been out-of-sync for a couple weeks.

RIMM - I dumped the rest of my options for $3.00 profit on Tuesday morning. The market was down close to 100 points as RIMM rallied to $48+ so I moved up my stop and luckily, it triggered near the highs of the day before the market fell apart.