2/10 Almanac

Wednesday, Feb. 10, is 9 days before February options expire, 37 the March and 65 the April.

Blue chip stocks (SPY) closed the latest regular session at $107.22, up 1.3% from the prior close.

In total, 3.1 billion shares were traded on the three major U.S. stock exchanges. That's about 29 percent less than on Friday.

Mediawatch: AP credits Tuesday's rise to the European debt crisis, just as it credited Monday's fall to the European debt crisis. So, a 1.3% rise vs a 0.7% decline means that we are now 0.6% net optimistic about whether the EU will help Greece solve its problems. Question: Did anyone really thing the EU wouldn't help Greece solve its problems? Just asking.

On the jump, rules, econ reports, portfolio and a good book . . .

My rules allow trades today in March iron condors and covered calls, along with butterfly, calendar and vertical spreads. I allow myself to trade unhedged call and put option purchases that expire in April or later. These economic reports will be released: International trade in goods and services at 8:30 a.m. Eastern. The main impact is on forex (currencies). Petroleum inventories at 10:30 a.m. The Treasury Budget report and testimony by Fed Chairman Ben Bernanke have been postponed because heavy snow has put Washington, D.C. all in a tangle. Snow day in the capital! I wonder if Ben and Tim Geithner will go sledding together? My portfolio consists of . . . February expiry: CVS, iron condor, p28/-p31/-c34/c36 ERTS, iron condor, p15/-p16/-c18/c19 MCO, covered call,  s/-c30 PALM, covered call, s/-c13

Explains where Marxism stands today following the collapse of the state capitalist regime in the Soviet Union. Must reading in the wake of the collapse of capitalist finance.

March expiry:

• CSCO, iron condor, p22/-p23/-c25/c26

Good trading!

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