Sooo… what to do after the long weekend…

Well, after looking at the straddles that placed last week on DELL and TIF, it looks I'll sit on those a bit longer. For my first live trades, they're doing ok and it looks like I'll even make a little money on them.

Dell stock is trending downwards and I should hit the breakeven on that straddle at about $20.55. Friday was a big volume day trending downwards, so that all looks great.

Tiffany's is a little more of a problem child, as it did not break as high as I would like to see. The break even on that one will be about $49.20, which it has not been close to since the beginning of June. I didn't pay close enough attention to that when I originally bought the options.

Ah well, it should still make money, I'll just need to work a bit harder for it. The options don't expire until January and Tiffany's is expecting a good Christmas.

Me too.

My mentor is on vacation next week, so I have to wait a whole 'nother week to get his feedback. I'll try not to get into trouble until then.

As for my virtual trades, they are still a work in progress.

My most embarrasing virtual trade was with GOOG at the beginning of August. I thought I saw the right triggers for a call, so bought GOOG DEC 520 Calls thinking that Christmas time is usually good for Google since that's when a lot of the eCommerce folks get into high gear.

Apparently not all investors are thinking that way as my original position has decreased by almost 50%. I'm sticking with these options until November though (or until they go positive) since right now the stock is looking a tad oversold so there's a good liklihood of it coming back up – maybe even back above 520 before I need to dump the options.

At least, that's the plan. Good thing it's not real money.

My other virtual trades involve covered calls. These look like great investment tools. I just need to build up the capitol to enter these kinds of trades with real money.

Anything new?

Yeah, I'll open a long position for DECK. It looks like it recently hit a support at about 110 and the options seem well priced if I can get them at the last ask price.

GS also hit a support and there are a couple of other triggers that make it look good for a long option position.

Other than that, my 2 year old son starts Montessori again tomorrow in the "sprouts" class. First school day this year and he loves it. Hopefully that will continue on for a few years.

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