Jumping onto a cloud of faith.

I've done it again. Made some virtual money from buying Citigroup call options. Basically I bought 4 contracts in 24 Nov for $1.090 each. The stock rose sharply today and i sold 2 of them for $1.750. That is a profit of $132 before commission fees. 60% profit :) The other 2 contracts are still gaining value and i've made a trailing stop of 0.15 for them. Right now they're 80%+ in profits :)

Date	Action	Qty	Symbol	Description	Price	Commission	Net Amount
11/28/2008	Sell To Close	2	.CAQ	C JAN 2009 7.5 Call	$1.750	$14.95	$335.04
11/24/2008	Buy To Open	4	.CAQ	C JAN 2009 7.5 Call	$1.090	$14.95	($450.95)

*The last 2 contracts of Citigroup triggered off the stop loss.

11/28/2008

Sell To Close

2

.CAQ

C JAN 2009 7.5 Call

$1.960

$14.95

$377.04

Total % profit from all 4 contracts of Citigroup : 70.2%

Actual profits = [(1.96x2+1.75x2)-1.09x4] x 100= $306

I must admit I am playing with gut feeling. I'm gambling on the options through the news but it's good practice learning how Optionsxpress works. I hope I can sail through the training course because I already know a great deal of information about options trading. But I will cut the smug attitude during the course.