I put in a limit order on the NAL spreads @ 0.25 I really did not think I would get filled at that price, but I did. I got the best price of the day.

My position is too heavy on NAL. Oh well. It is not toooo ‘heavy’, my rules say my position is ok. The IV on the position is rising, so it looks good, to finish this position in the black.

Ok, so my INTC trade which is my largest position now is in the black, but back to NAL which is not my largest position. I really spend too much time on NAL. I know, I know. The stock was up 3.25% today. Not even blog sites are talking about this one.

I think I am learning a lot about thinly traded options. NAL today traded lightly … err.. not at all except for the front month near the money call. Thinly traded options seem to trade more near the end of the day when I am asleep. I did increase my position in NAL. I had a buy limit that got filled at the end of the day, lowered my costs to about 0.34 for the spread.

I put in orders at 0.30, 0.25, and 0.20 before I went to bed. The 0.30 is about my break even, the 0.25, & 0.20 was just there in case someone moved the market past market makers. I would not think about it on something like INTC or AAPL. I don’t think the market makers are AS active in a thin stock. You can see the market makers on the screens, just not like large cap stocks. Just not much volume on the options: 8,800 on the front month, 1,600 on the back month.

The 1,600 is the one that matters. Can’t do a calendar without both sides. Seven friggin trading days to expiration. Open interest is down to 7,000 on the front month, 3,000 on the back.