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Tuesday, February 13, 2007

Updates

ADSK is following its double top formation pretty well. At market opening, it tested $42 (also the 50MA), but is unable to hold and drifted back down. If you've entered the position at around $41.9, the Mar 45 Put would have cost you $3.6 with delta @ 0.73. Pls take note that ADSK is announcing earnings on 27 Feb AMC. As per my style, I don't hold over earnings.

Looks like the market is cautious and waiting for Bernanke to testify before Senate Banking Committee on Wednesday and House Financial Services Committee on Thursday. He is doing this for the first time since Democrats took over Congress. Good luck to him!

And my fellow grad, Option Pundit, introduced a free tool: Options strategy scanner and position simulator. These are great tools, especially when you have more than 1 leg e.g. Iron Condor, backspread etc. Lol, Option Pundit beat me to it in introducing this free tool, as I was about to talk about this one in addition to my series of free resources such as stock screener, probability calculator, Quotetracker, options magazine etc. Well, if you have missed them, just go to Trading Resources in the categories above. Like him, I believe in minimizing trading cost and using free tools as much as possible. I need not say more, check out his site for details on this fabulous tool.


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