Wang's Happy Trading

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We ended another volatile week.  The market is being pulled up-and-down by the financials.  We had some good trades this week:

January 23, 2009
10:38 | AEM ($56.90) Sold to Close AEMBJ Feb 50 calls, at $9.00 +76%
08:42 | AEM ($55.95) Sold to Close AEMBJ Feb 50 calls, at $8.20 +61%

January 22, 2009
08:36 | HES ($53.50) Sold to Close IGGBK Feb 55 calls, at $4.30 -20%

January 21, 2009
10:41 | GS ($65.20) Sold to Close GS Feb 65 put, at $7.80 +3%

January 20, 2009
12:55 | GS ($59.80) Sold to Close GSNM Feb 65 put, at $11.00 +46%
10:31 | AEM ($52.40) Sold to Close AEMBJ Feb 50 calls, at $6.30 +13%

We got shaken out of the HES calls yesterday, which would have give us a nice gain today also.  But, with this volatile market, you have to be very careful, as those HES calls opened at $4 this morning!!  We traded AEM calls a few times and was able to cash out on the big jump today.  The stock was up nearly +10% as gold rallies (which was mentioned on GLD in the Sector Watch last weekend), and we got +76% gain on our calls.  We also got a nice trade on GS puts for a +46% profit. 

I’ll be back on Sunday with next week’s Market Forecast and Sector Watch!

Happy Friday and HappyTrading! ™