Thursday, March 29, 2007

Closing Bund, Euribor and Carmax trades

Bought back my £15/tick short in Bund futures yesterday at 115.21, for a profit of £1,356, and my Euribor March '08 short of £75/bp at 95.845, for a profit of £1,275. I still think Euro rates go higher for here, but would like the opportunity to trade it around, so will be looking to re-short the market if it went back up. The whole Euro curve now is basically at 4%, with ECB at 3.75% and going up, risks are too (much) higher yields. But I can't resist taking a profit. Completely flat on Euro rates trades now, have taken about £5,500 out of it in the last few weeks.
And I shorted about £10,000 worth of Carmax a few days ago, earnings out today saw the stock down 7% at one point. Sweet timing. Bought it back for exactly £500 profit.


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