Finally Switching to Interactive Brokers

Although I am very happy with ThinkOrSwim, I think I'm ready for a little more active trading style that $1 stock and option trades at Interactive Brokers will enable.

There are many other smaller plays I have been missing out on by either not doing enough research, or just thinking it's not worth the cost of commissions at TOS. For example, buying a $1 SPY Oct put or shorting USO in anticipation of a correction.

With a little bit more of a correction I'm looking at selling the AAPL Jan '10 $150 put for $10. Hopefully, my new account will be up and running in time to catch that. Would probably close out the Oct 140 put at the same time, to take gains and leave less risk on the table in case we have another disastrous September/October.

Bought very small SPY call

I think the market is fairly priced here, and I find it harder to find good valuation plays.  I will not put my money at risk to chase these valuations, as I would be a seller with 10 to 20% moves up.  However, I will play with a very small amount of money to go along investing in the Bigger Fool strategy - buying something you don't think is worth as much as you're paying in the hopes that a bigger fool comes along to buy it off you for more.  I just bought a single $116 SPY Dec '09 call for $1.

The motive behind this move is almost identical to when I held the AAPL Jan '10 $200 call.  I just found this SPY play to be a lot cheaper.  For AAPL to get to 200, SPY will have to break 115.  It's almost the same play, but with less risk-return.

Out of CMG.B, look to buy in lower

CMG.B has been showing considerable weakness in this market correction sell-off.  I'm sold out of my small 20 share position at $78.28, taking a $50 gain.

It seems like the realization that the stock market going up can not bring the economy out of this recession, and instead of a new cyclical bull market we are seeing a bear market rally.  I'm thinking of buying an SPY put as portfolio insurance to hold onto my gains, similar to the way Trader Mark has outlined.

AAPL is showing considerable strength though...