Wang’s Happy Trading

First of all, Happy 2 Million to Wang’s Happy Trading!! We have juch reached over 2 million hits!! Thanks to all of our members and readers!! We will continue to strive to make things even better! We’ve been working hard on some new changes and hope we’ll be able to share them with everyone soon!

The market recorded another down week last week. The Dow lost 496.18 points; SPX dropped 39.55 points; and Nasdaq fell 90.46 points! The financials were still weak, while oil jumped to a new record high. The Fed held the rates unchanged. But, RIMM and ORCL disappointed investors with their forecasts and added selling pressure on the techs.

Here are the closed trades for the week:
RIG ($154.1)
RIGGJ, July 150 calls, at $7.7, +4%

GOOG ($553.4)
GOOGT, July 600 calls, at $5.3, -33.7%

CNX ($104.2)
SDFGB, July 110 calls, at $4, -48% (all out)

BIDU ($330.3)
BPJGJ, July 350 calls, at $10, +11.1%

CNX ($113)
SDFGB, July 110 calls, at $8.5, +10.3% (partially out)

NOV ($88.9)
NOVGQ, July 85 calls, at $6.8, +23.6%

FLR ($198.5)
FLRGW, July 190 calls, at $13, +32.6% (partially out)

Here are the trades left open:
PRU ($63.77)
PRUTM, Aug 65 puts, at $4.7 (open, nibbling)
Friday close: $4.6; unrealized gain/loss: -2.1%

SVNT ($25.94)
UVPGE, July 25 calls, at $2.25 (open)
Friday close: $2.1; unrealized gain/loss: -6.7%

GLD (90.46)
GLDHK, Aug 89 calls, at $4.4 (open)
Friday close: $4.8; unrealized gain/loss: +9.1%

DECK ($143.9)
QUKGY, July 145 calls, at $6.3 (open)
Friday close: $2.82; unrealized gain/loss: -55.5%

DVN ($121.8)
DVNGZ, July 120 calls, at $6 (open)
Friday close: $2.2; unrealized gain/loss: -63.3%

I’ll be right back with Market Forecast!
Happy Sunday and HappyTrading! ™