Deckers Put

I was looking at some charts Monday morning and came across Deckers Outdoor Corp (DECK)and noticed a large gap up with a high of $158.47 on Friday after their quarterly earnings report from a day earlier. I'm looking for a retracement back towards the 20-day MA and 8-day trigger, which is between the two red horizontal lines. The range of the lines is set between $133 and $144. In addition, the stochastics are approaching the overbought range, which provides a little bit of validity.

I purchased 1 Jun 2010 put with a strike price of $145.00. I got in at $3.70 and today traded up at $5.40.

Going for Gold

I'm testing the waters by going short on a little gold. I picked up a Feb $112.00 put on (GLD) @ $2.95.

Short Indian Banking

I made a quick trade while waiting to go to the Colorado Rockies game today with my uncle who is in town today. I have traded ICICI Bank Ltd. (IBN) in the past when it was trading in the upper teens/lower 20's. I've decided to buy Sep 31 puts at $2.10.

Merry Christmas

I just wanted to send a quick note wishing everyone a Merry Christmas. I've been doing some trading on the road and still think the consumer market remains weaker, especially the speciality restaurants. Because of this I decided to short Panera Bread (PNRA). I bought Feb 2009 $45.00 puts thinking that they will continue on the downward trend into 2009.

Put on DRYS

DryShips INC (DRYS) has made a nice run, so I've decided good or bad to take the opposite side of this trade. I bought a Jan 2009 $12.50 put (OOCMV.X) for $3.80. I'm looking to take advantage of the slowing market as we head into the holidays and as investors begin to close out their positions.

Weakness in NASDAQ

I sold my Jun 53 put contract in the qqqq's on Friday. I actually picked up this contract back in mid-Jan and set a limit order for $10.00 and it actually got filled at $10.08. The qqqq's are actually trading sub-$43.00 in after hours. I still feel there is going to be continued weakness and could very well trade sub-$40.00's. I will still be on the lookout to buy additional puts on the qqqq's with some deep in the money puts.

Put on the QQQQ's

I got short the QQQQ's again. Bought 1 Jun 53 put @ $6.65