On Monday, the markets were pumped up by details of the administration's plans to restore the banking sector. The NYSE jumped 7.3%, and the Dow Jones Industrial Average gained 6.8% to close near 7,776. Those big gains were all we needed to score a couple of wins for my deep-in-the-money options trading system.
Cisco (CSCO - Get Report), which had been in play for 103 days, rang the bell, adding $3,900 to my win column. Hewlett-Packard (HPQ - Get Report) also rounded home, winning $1,000 after just one week in play. These additions to my scorecard bring my record to 98-1. I'm getting closer than ever to an even 100 since TheStreet.com began distributing my Nails on the Numbers newsletter last spring.
My first win of $1,000 last year came April 2, on Sigma Designs (SIGM - Get Report) on its third trading day out. And a successful closeout of my Garmin (GRMN - Get Report) position came the following day - the same day that I picked it.