While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to the six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three-day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Because I suggested a weekly call on DAL that expires this Friday, I am going to suggest you close the position.
Sell to Close the April 26th - $57.50 calls for $0.85.
The result will be a profit of $27 per contract or $216 if you traded the 8 lot I suggested.
The result is a return of 47% in one day.