Dow spreadtrade

Some crazy movements in the Dow yesterday
Bought Dow @ 12668 late 22/feb
Stop @ 12550 taken out

Sold Dow for profit during Dow + made a little profit
- missed real bottom though -
Dow readings from ADVFN +street.com + bloomberg
were incorrect during worst part of meltdown
+ left computer for the wrong 10 mins!

safer to stand back now

Urasia Energy Buy Share Centre

Price drops all round.
Bought small amount Urasia Energy
I know there is talk of a bubble in uranium shares
- think that is in evolution in the medium to longer term.
But I think that in the short to medium term
dips are buyable in companies with real uranium resources +
reasonable valuations v assets.
minesite.com radio has an interesting series of interviews


PURCHASE of Urasia Energy Ld Com Shs Npv (Cdi)
at: 312.6400 pence on 28 FEB 2007 

Selloff action

Sold quite a few US stocks early today –kept small amounts of some like GS

Sell QuantityStock CodePrice FeeCommissionNet

35MRVL-N $20.980.0015.95 718.35

100MPEL-N $17.070.0015.95 1,691.05

10USG-N $55.810.0015.95 542.15

100STM-N $19.310.0015.95 1,915.05

10NYX-N $86.320.0015.95 847.25

11PCU-N $70.120.0015.95 755.37

6GS-N $203.460.0015.95 1,204.81

26LFC-N $39.350.0015.95 1,007.15

Tried to buy Energy Metals on NYSE at close – not sure if order got filled

BT + Sage Puts buyback to cancel

27 Feb 2007 Buy to close 1 B.T. Group mar07 300 Put @ 5.25p

26 Feb 2007 Buy to close 2 Sage Group Plc mar07 260 Put @ 4.25p

Both bought back @ small profit

Bought STM St Microelectronics

This has seen a lot of call buying recently
+ chip stocks generally going up

Stock = (STM-N) St Microelectronics
Exchange = New York Stock Exchange (Agent)
Currency = USD
Type = Buy to Open
Quantity = 100
Price = $19.9
Gross = $1,990.00dr
Net = $2,005.95dr

Bought General Maritime may07 35 Put options

The idea here is to take advantage of special div of $15
Seems too good to be true?
Not sure if I am missing something in terms of
the mechanics of this trade!

Contract = (GMR-N) General Maritime  may07 35 Put
Exchange = Chicago Board Options Exchange (Agent)
Currency = USD
Type = Buy to Open
Quantity = 6
Price = $.4
Gross = $240.00dr
Net = $300.00dr

Bought Southern Peru Copper

The financial s for this Co are excellent
+ All commodities rallying
Plan to sell Antofagasta + keep this longer term

Stock = (PCU-N) Southern Peru Copper
Exchange = New York Stock Exchange (Agent)
Currency = USD
Type = Buy to Open
Quantity = 18
Price = $74.99
Gross = $1,349.82dr
Net = $1,365.77dr

Bought Honeywell Put options

This on the back of large volume put buying
Not a play on the general market

Contract = (HON-N) Honeywell International Inc mar07 47.5 Put
Exchange = Chicago Board Options Exchange (Agent)
Currency = USD
Type = Buy to Open
Quantity = 5
Price = $.75
Gross = $375.00dr
Net = $425.00dr

Dow Spreadtrade

Bought Dow @ 12668 late 22/feb
Stop @ 12550

GMR - US Buy Options written

Bought GMR-N General Maritime225 @ $43.50

+ Sold 2 lots Sept 07 $30 calls for $13.40

Good Tanker Stock

$15 special div in mar 07 – ex div = 9^th Mar

200 shares will probably be called – if not I will get a big discount!

If price comes down may be worth buying calls to exercise on 8^th Mar

Contract = (GMR-N) General Maritime  aug07 30 Call
Exchange = Chicago Board Options Exchange (Agent)
Currency = USD
Type = Sell to Open
Quantity = 2
Price = $13.4
Gross = $2,680.00cr
Net = $2,660.00cr

Exchange = New York Stock Exchange (Agent)
Currency = USD
Type = Buy to Open
Buy 225 General Maritime  @ $43.5
Quantity = 225

US Options closed HRB Block H & R

Contract = (HRB-N) Block H & R apr07 2250 Put
Exchange = Chicago Board Options Exchange (Agent)
Currency = USD
Type = Sell to Close
Quantity = 5
Price = $1.35
Gross = $675.00cr
Net = $625.00cr

Gross profit = 85%
Net = 210

09 Feb 2007

Debit 415.00

0.00

T1193515

Buy to open 5 Block H & R apr07 2250 Put @ $.73

UK Buys - Avis Europe + Providence Resources - Share Centre

PURCHASE of Providence Resources Plc Ord Eur0.001

at: 5.1500 pence on 22 FEB 2007 date at 04:00PM
small amount - speculative

PURCHASE of Avis Europe Plc Ord 1p

at: 87.8500 pence on 22 FEB 2007 date at 08:17AM

larger amount - looks like a recovery 

US Buy -KODIAK ENERGY INC

Got mass email on this today
Story checks out ok
Looks like good risk reward

Stock = (KDKN-O) KODIAK ENERGY INC
Exchange = OTC Market USA (Agent)
Currency = USD
Type = Buy to Open
Quantity = 2000
Price = $1.55
Gross = $3,100.00dr
Net = $3,146.50dr
Trade Date = 21 Feb 2007

UK Buy Murray Income Trust Plc Share Centre

PURCHASE of  Murray Income Trust Plc
at: 729.2000 pence on 21 FEB 2007
small amount
Trust @ c 5% discount to NAV
good div
has reserve for payouts also

UK Sell Adamind

Adamind partial stop loss sale @ 26
sold most but think it is still good vaue
Jan 07 bought @ 35.63
Loss = 26% gross

PowersharesDB GB10 Currency trading ETF Buy -US

Powershares DB GB10 Buy 70 $26.53 -1,873.05- nett 15.95 Comm

The case for this is well made at...

Bloggingstocks
http://www.bloggingstocks.com/2007/02/18/global-gains-power-up-with-international-currencies/

Powershares DB Agriculture ETF Buy -US

Powershares DB Agriculture Buy 70 @ $26.65 –

$1,881.45- nett 15.95 Comm

Ag Commidty ETF

The case for these is well made at...

http://www.bloggingstocks.com/2007/02/16/global-gains-power-play-on-global-agriculture/

UK SellBen Bailey -21 feb07

Sold Ben Bailey @ 690.62 Up on M&A possibility

BBC Ben Bailey140 buy@604.1286 -31 Jan 07

Gross profit = 14.1%

Net = 92

Dealing in small amounts reduces risks but gains look puny too!

Stock = (BBC) Ben Bailey 

Type = Sell to Close

Quantity = 140

Price = 690.62p

Gross = £966.87cr

Net = £954.37cr

FTSE Sell Closed

FTSE Sell Closed @ 6420
16 point gain
Took the small quick profit available.
Both the entry and exit quotes were a fraction lower than the real price.

FTSE Spreadtrade Sell

Markets look a bit overbought + due a small pullback. That does not mean they cannot get more overbought! Sold FTSE 100 for small stake @ 6436 towards close on on 19th feb. Aim here is just to pick up 20 - 50 point gain.

19 Feb United Utilities Sold

19 Feb United Utilities Sold

It has struggled around the current level. GS issued a sell note – hence gap lower this am. Market looks a little overbought + likely to pullback so bought back open calls + puts + sold UU. Good div so would be happy to buy again 10-15% lower.

07 Jun 2006 Debit 6,781.82 Buy 1000 United Utilities @ 672.32p 677.54

19 Feb 2007 Credit 7,489.87 Sell 1000 UU @ 761p

Gross Profit = 14% = £910.00 .....BUT....

In this case selling options on the stock reduced risk + reduced reward….

Analysis below

Here.. D = Net Debit & C= Net Credit

07 Jun 2006 Credit 273.20 Sell to open 1 United Utilities dec06 650 Put @ 31p

14 Jul 2006 C 193.20 Sell to open 1 United Utilities dec06 650 Call @ 23p

25 Aug 2006 C 295.80 Dividend Payment of 29.58p / share United Utilities

08 Dec 2006 D 1,276.80 Buy to close 1 United Utilities dec06 650 Call @ 125p

08 Dec 20060 C 453.20 Sell to open 1 United Utilities mar07 800 Put @ 49p

12 Dec 2006 C 118.20 Sell to open 1 United Utilities mar07 800 Call @ 15.5p.

Total dec 06 option C = 571.4

Total extra credit 2006 = 1333.4

**Less debit for call buyback – net credit for 2006 = 56.2

13 Feb 2007 C 146.30 Dividend Payment of 14.63p /share in United Utilities

Total extra credit 06+07 =1479.7

Less 503 debit for call buyback – net debit for 06+07 = 300

19 Feb 2007 C 7,489.87 Sell 1000 UU @ 761p

Gross Profit = 14% = £910.00

19 Feb 2007 D 436.80 Buy to close 1 United Utilities mar07 800 Put @ 41p

19 Feb 2007 D 66.80 Buy to close 1 United Utilities mar07 800 Call @ 4p

Total feb 07 D for buyback = 503

So £68.40 = net profit on these options

Overall a disappointing series of trades – would have done much better just buying shares + taking dividends!

One problem was very poor premium on calls & puts sold in dec 06 – not worth selling for that premium. Overall not a great return for selling calls + puts – was to some extent expecting it to continue to 800p – which would have made it a good trade but I think the risk is for SP weakness in short term hence the options buyback + sale - effectively a risk avoidance stop loss sale without the loss!

US Options Written DSX

Wrote Call + Put Options on DSX
Net credit = $375

1 covered call slightly in the money
(but above purchase price)

Contract = (DSX-N) Diana Shipping Corp  sep07 17.5 Call
Exchange = Chicago Board Options Exchange (Agent)
Type = Sell to Open
Quantity = 1
Price = $1.25
Gross = $125.00cr
Net = $115.00cr

2 out of the money puts

Contract = (DSX-N) Diana Shipping Corp  sep07 17.5 Put
Exchange = Chicago Board Options Exchange (Agent)
Type = Sell to Open
Quantity = 2
Price = $1.4
Gross = $280.00cr
Net = $260.00cr
Trade Date = 15 Feb 2007
Settlement Date = 16 Feb 2007
Expiry Date = 21 Sep 2007

UK Sale

Not a big gain but ok for 7 weeks.
+ already have plenty of property exposure

Derwent Valley Hldgs is at the top of its trend channel
- may break out or rollover - want cash for any pullback.

Stock = (DWV) Derwent Valley Hldgs
Quantity = 90
Price = 2146.13p
Gross = £1,931.52cr
Net = £1,919.02cr
Gross Profit = 7%
Net =90

DOW spreadtrade

Closed out today at 170 point gain - DOW at c. 12760 . If pattern holds plan to repeat this - ie buy pullback of 100-120 points.

DOW spreadtrade

Been away for a few days + unable to keep a close eye on the markets - that was ok as I had better things to do! Took my own advice and bought the pullback on the DOW @ 12,589 -Stop @ 12470 at the end of last week - would probably have closed yesterday if I was aware of markets but I was in transit at the time. Plan to probably close that today - no point being too greedy.

SALE of Daily Mail & General Trust - Share Centre

SALE of Daily Mail & General Trust: 788.1400 pence on 09 FEB 2007

Bought 20 dec 2006: Price: 717.86

Gross profit = 9.7%

US Put Option Buys HBR + HD

Bought puts in Home Depot + HBR

Both stocks have had active recent put buying.
The markets  in general are due a pullback.
Might be a good time for some downside protection.

The subprime loan defaults theme is the potential catalyst to bring down HBR.

Contract = (HRB-N) Block H & R apr07 2250 Put
Exchange = Chicago Board Options Exchange (Agent)
Currency = USD
Type = Buy to Open
Quantity = 5
Price = $.73
Gross = $365.00dr
Net = $415.00dr
Trade Date = 09 Feb 2007
Settlement Date = 12 Feb 2007
Expiry Date = 20 Apr 2007

Home Depot is perceived to be offering less in the way of customer service
than some of it's rivals

Contract = (HD-N) Home Depot may07 40 Put
Exchange = PHLX Options (Agent)
Currency = USD
Type = Buy to Open
Quantity = 4
Price = $1.26
Gross = $504.00dr
Net = $544.00dr
Trade Date = 09 Feb 2007
Settlement Date = 12 Feb 2007
Expiry Date = 18 May 2007

UK Buy Share Centre Acct -

PURCHASE of Interactive World Plc at: 89.6300 pence on 08 FEB 2007

Like mobile streams or addamind in business model
Bought for dividend / commited to paying out most of earnings
- should be c 10% div yield.
Seems to be making sensible small profitable acquisitions.
See Daniel Stewart note.
http://www.danielstewart.co.uk/CMS/nmanagerpro/attachments/itw_morning_flash_020207.pdf

.. I know Daniel Stewart has acted for the co + is not totally impartial.

US Buy -Diana Shipping Corp

Bought 100 DSX-N Diana Shipping Corp @ $16.70

Div is > 10%

Options on this also

Bought for dividend really + some capital growth if commodities remain in demand

Will buy more if it falls > 15-20 %

Stock = (DSX-N) Diana Shipping Corp

Trade Date = 08 Feb 2007

Exchange = New York Stock Exchange (Agent)

Currency = USD

Type = Buy to Open

Quantity = 100

Price = $16.70

Gross = $1,670.00dr

Net = $1,685.95dr

UK Sell Share Centre Acct - Michael Page

SALE of Michael Page International Plc Ord 1p

at: 483 pence on 08 FEB 2007

bought @ 447p

Gross Profit = 36p = 8%

Again this should run but I set a tight stop loss once this was in profit and that was breached.

USA Options written - Apple

Sold 2 Apple Jan 2008 $65 puts for Net credit = $520.00

-Apple has a lot of ways to win big - ipods,iTunes, iphone. iTV, pcs, laptops and is the best at marketing , branding + getting premium prices.

Contract = (AAPL-N) Apple Computer Inc jan08 65 Put

Exchange = Chicago Board Options Exchange (Agent)

Currency = USD Type = Sell to Open

Quantity = 2

Price = $2.70

Gross = $540.00cr

Net = $520.00cr

Trade Date = 08 Feb 2007

Settlement Date = 09 Feb 2007

Expiry Date = 18 Jan 2008

Reference = 1192468

Sold BlueBay Secondary Acct

BlueBay buy @ 354.99 - £400 1dec06

BlueBay sell @ 392.25 -£424 8 feb07

Gross Profit -37.5p = 11%

Buy Antofagasta

Buy 500 Antofagasta Plc @ 468.82p

Net cost= 2,380.82

07 Feb 2007 T1191122

Most miners rallying on back of BHP figures

Anto rising from botton of trend channel

? worst over for copper price decline

+ inventories - chart suggests maybe.

Anto thought of as pure copper play bit does have

water + transport interests.

Secondary account positions Added Jan 22+23 2007

Some small speculative positions

23/01/07 Buy SatCom Group @ 39.25

23/01/07 Buy Frontera Resources Corporation @ 60.25

22/01/07 Buy Vane Minerals @ 14.18

UK Sells Secondary Acct - Nufcor Uranium

Took part profits

SALE of Nufcor Uranium Ld Ord Usd0.01

at: 319.5000 pence on 06 FEB 2007 date at 08:16AM
gross profit = 15%

Seems sensible to have some exposure to nuclear/ uranium for the medium/long term
- this is the most direct way listed in the uk.
AMEC may be good from this view ( nuclear industry services) also + from restructuring view.

UK Sells -Cattles

Cattles spiked up today. Took a quick profit even though this should run further.

Stock = (CTT) Cattles Ord Type = Sell to Close

Quantity = 600 Price = 474p

Gross = £2,844.00cr Net = £2,819.00cr

Bought at 437.4500 Dec 2006

Gross profit = 8.5% Net=178

US Options buy 5th feb 2007

Bought Elan Mar $15 options ....price rising in recent days - results / conf call 20th feb.

Contract = (ELN-N) Elan ADR'S mar07 15 Call
Exchange = Chicago Board Options Exchange (Agent)
Currency = USD
Type = Buy to Open
Quantity = 8
Price = $.45
Gross = $360.00dr
Net = $440.00dr
Trade Date = 05 Feb 2007

US Stock Sale

Today Sold 50 Triad Hospitals @$49.75 ..

22 Jan 2007

2,127.45

0.00

T1180987

Buy 50 Triad Hosps @ $42.23

Gross profit = 18%
Net = 344

Stock = (TRI-N) Triad Hosps
Exchange = New York Stock Exchange (Agent)
Currency = USD
Type = Sell to Close
Quantity = 50
Price = $49.75
Gross = $2,487.50cr
Net = $2,471.55cr
Trade Date = 05 Feb 2007

UK Option Writing -Land Sec

Sold 2 Land Sec June £19 puts @ 20p for £400 credit gross should be c 360 net.
should expire worthless but will need monitoring. The property/ real estate co.s are oversold in an uptrend + bouncing now.

UK Sells

The markets are high so seems like a good point to take some quick profits even though both stocks look good for more gains.

Code Name Long Price Closing Price Net P & L % P & L

HLS HELESI PLC 1,600 124.00 144.50 00 328.00 16.53 Sold 1000 @ 143.5 - gross profit = 16% net 190 Kept 600 as the share is cheap still + lots of potential growth

AMEC Amec 420 422.500 463.5000 172.20 9.70 Sold all @ 469 - gross profit = 11% net 178