While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to 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.
Since I recommended the weekly call position on WDC, it sold off with the market and has now made a decent rally.
It could continue to run, but I am going to suggest you book your profit on the position, because there are only 2 more days until expiration.
Sell to Close the August 18th - $82.50 call for $2.40.
This give you a profit of about $1 per contract or about a 70% return for 7 days.
