Alocoa May 2012 Option

Just a quick update on a trade I execute yesterday. I opened a 9 dollar strike call option expiring next month on Alcoa (NYSE AA Cost $0.69) on the basis of it has really fallen below two standard deviations and earning were due out that day. I have actually already closed the position this morning at $1.15. 66% return in 21 hours.

Off Topic

I just realized I want to use this blog more as a trade journal. (maybe I will write more this way)

In Any case my last trade I opened last week was an options contract executed at a price if $2.17 on RIMM. It was a call option expiring in Dec of 2012 at a strike price of $15. The reason for opening this trade is that RIMM is trading below book value (approx $18/share) and P/E of something like 4. All this to say in my world either the price will climb by December on either a basic valuation basis or what I am hoping for is a take over of the company. Either case my break even is RIMM @ 17.17 by Dec.

Simplest Way to Save

One of the easiest things I have ever did to start saving a little is a forced savings program every time I spend. What I did is talk to my bank (most major Banks and Credit Unions have this option) and they set me up so that every time I use my debit card (which is very often as I never carry cash) it automatically pulls out one simple dollar and sticks it in my Tax Free Savings Account (TFSA and I will discuss these later on) in your case you could put it anywhere you want, your RRSP, ROTH IRA, or 401k whatever really works for you. Last year I put $600 away this way. Just an idea!

First Real Post

So I decided to create this blog after after a discussion with a co-worker where I had an epiphanous where I realized following the stock market was the sport I followed. More broadly I enjoy reading and learning about finances and pushing said knowledge on my friends. So why stop at friends when I can push my non sense world views on others on the interwebs. What I intended on discussing here is going to vary from investments, life insurance, work, home ownership and who bugged me for tech support today. I am going to try and gear this towards us Gen Y'ers as I am one myself and the marketeers and investment advisers haven't really gotten us in their sites yet, so it's better to have some knowledge before the bombardment begins. Thanks for reading and I will try on keep the blog updated often.

A word of caution

As this blog is going to be about personal finance i give you the following.I am just a jackass from the internets. All statements here are my personal opinion. Please talk to a financial expert to discuss your situation.