I've had some very hectic couple of work days recently, and it's been difficult to spend time on this blog. As promised, I will begin accounting for my investments.
My current investment strategy is split between $2,000 in an interest-bearing checking account and $6,500 in investments.
Those investments will be primarily in ETF index options. My investment goal is a modest 6% a month, which is ample to pay back the initial loan fee of $255, and make some money on the free loan during the next 6 months without much time commitment from me.
Here is my current tracking sheet:
I am keeping track of each of my investments, and as you may be able to decipher, I have already made one profitable trade worth $190, or about 3% return.
I am halfway there to my monthly goal already, and I have yet to begin the first full month of investing.
Sunday, April 27, 2008
Investment Update
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2 comments:
I see a profit of $425 for the sale on 4/24, is the $190 profit you mention included? Also I am not familiar with options, does the 5x QQQQ mean 5x May 08 QQQQ options and what does this mean? Could you give a quick description.
Anonymous,
That tracking sheet indicates the value of trades, so a negative trades indicates a buy (decrease in cash) while positive trades indicates a sett (increase in cash).
Therefore, when you match up buy and sell of the same option/equity, then the net is the profit/loss.
In terms of 5x, it refers to the number of contracts bought, in this case, 5 Options Contracts for the Nasdaq Index due in May 2008.
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