First December trade

I have placed my first Dec 09 trade. I feel the SPY has been showing a lot of resistance at the 111 -112 range. I feel this will hold and people will take some profits next week. I think SPY will fall to the 106 level where we will see it bounce. If SPY closes above 113 then I will exit this trade and re-evaluate. If SPY does fall to around 106 and starts to show signs of support then I will take profits on this trade and look at entering a new position there.

DEC 09 115/114 Bear Call Spread for a ROI of  24%

November 2009 results

Nov ended up being an "almost" month. I came close to almost having to close my positions as the SPY came close to breaking the 112 level during expiration week. Luckily the resistance at 111 was strong and held there.

I also missed out on a great trade when I correctly predicted the bounce at ~103 level, but just missed getting into the trade. That trade could have easily brought in another $500 in profit this month. Overall though I can't complain, as any positive month is a good month as far as I'm concerned. I only made two trades for the month of November, but both were successful. I only used about $7500 in trades this month because I was leaving some money available to make more trades. My average ROI for those two trades was 12%.

My total results for the month of Nov were +$860 which is a +6% for my account. This puts my account at approx. $14,460.

Second postion

I opened another SPY Bear Call spread as the index has shown strong selling resistance at the 110 level.

Opened position: NOV SPY 112/113 Bear Call Spread for a 10% ROI

I really missed out on easy money by not buying in at the 104 level when we bounced earlier. I'm still kicking myself for missing that.

Missed it

I missed the bounce. My plan was to take profits on my SPY Bear Call spread and open a Bull put spread when it bounced at the 104 level. I hesitated and it bounced too quickly. Definitely missed out on some easy profits.