I haven't made any published trades recently. With the bulls and bears fighting it out in a fairly tight range(1310-1350) over the last couple weeks I haven't seen many opportunities. I'm still bearish overall, but the bulls keep fighting back and I know all to well from the last year or so that getting too aggressive on the downside in the current environment is a good way to lose money. I'd rather wait and see some confirmation that the bears finally are taking control.
We still have open positions in Cisco and Microsoft. Cisco hasn't shown any strength the last couple weeks and I'm down a bit on the naked puts, but I have plenty of time for that one to play out. The same goes for Microsoft. The first covered call expired last week as expected and the stock hasn't been able to get any traction. It's dropped down near $24 and trying to sell any near-term calls against it will put me at risk of a capital loss if the stock rebounds. I'll probably look at some longer term calls this week, but the option premiums are so small that it's hard to justify the risk of getting the stock called away from us. In short, it appears I was about 2 weeks early on both these trades.
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