7/23 Swingtrades - BAC, WB, LEH, SHLD

There was a nice follow-through run-up in the financials in the AM. I was not quick enough to catch the top but still made some decent profits off this rally. As I mentioned on a previous post, I still think there is bad news out there but with the government jumping in, high short interest and oil getting obliterated, max pain will be dealt to the shorts for now. Here are my trades today:


BAC - Tried rolling position into Aug 35 calls but sold them out flat as financials weakened
Bought @ 26.97,
Sold @ 33.10
Profit - $3.00 on Aug 30 Calls

WB - Sold a bit early but still a tidy profit
Bought @ 12.90 & 14.90 (luckily, cost was $0.40 both times so I was able to pick up quite a bit)
Sold @ 18.00
Profit - $1.60 on Aug 17.5 Calls

LEH - I bought, sold and bought again. It showing some strength but I may be chasing it too much. I'm holding the Aug 17.5 Calls

SHLD - Per this morning's post, I missed the break-out in SHLD. However, later in the day, it retraced perfectly to the break-out point of $77.00 and rebounded.

Bought @ 77.80, Aug 80 Call (I went with out-of-the-money calls because the stock is volatile and I'm not ready to get shaken out on a $5 swing.

Pyramid @ 80.55, Aug 85 Call

Risk @ 75.00