Today’s Transactions:

Closed FRO Feb 50 put at $6.50
Reason: the sector showed relative strength against the broad market recently. The main reason cited is Opec produced more oil than their quota in October. So just take loss and wait for another opportunity to revisit the position.

Opened a short position in SOHU Jan 08 50 call at $5.00
Reason: when I first initiated the position in SOHU back in September, I mentioned one of the main risks for this stock is weakening domestic A market. Now we do have a sharp correction in domestic A market and it seems the bottom is not there yet.


Today’s Return: 1.21%
Return since inception(June 05, 2007): 132.75%
S&P 500 Return since June 05, 2007: -6.40%


My positions:

PG
UTSI Jan 09 10 Call
GOOG Dec 07 400 Call
SOHU
DRYS
GOOG Mar 08 500 Call
WB

CX Jan 08 40 put
ITRI Jan 08 100 put
UPL Jan 08 80 put

Short SOHU 08 50 Call