What an nice implosion in the energy/commodities stocks today and the past few weeks. These big swings are perfect for DITM options. I hope some of you banked some good coin. I've been too focused on chasing chump change in financial stocks so only managed to enter BG late in the morning.
SINA - Looks like the pseudo run-up to Olympics is petering out. SINA also got some analyst commentary that wasn't that exciting.
Bought @ 45.58, Aug 35 Calls
Stop @ 45.40
Sold @ 45.32
Loss - $0.40 on calls
CALM - I had such high hopes for this one. I entered at 41 in the morning and moved the stop up using the 30-min charts and was stoppped out at 40.40 late in the day. The last 2 shooting stars on the daily chart are not encouraging. I may have to join the shorts on this one below 38.00.
Bought @ 41.00, shares and Aug 40 Calls
Stop @ 40.40
Sold @ 40.40
Loss - $0.60 on shares, 0.80 on calls
WM - Stopped out @ 4.90
Loss - $0.35 on Calls
WB - Stopped out @ 18.00
Bought @ 14.78, Aug 15 Calls, re-entered @ 17.50 on Friday
Stop moved to 17.90
Sold @ 16.90 on Friday, Sold @ 17.90 today
Profit - $1.50 total on calls
LEH - Stopped out @ 18.20
Bought @ 17.20, Aug 17.5 Calls
Stop moved to 18.20
Sold @ 18.20
Profit - $0.75 on calls
Holding overnight:
SHLD
Bought @ 82.00, Aug 75 & 85 Calls
Stop @ 80.90
BG
Bought @ 95.00, Aug 105 & 90 Puts
Stop @ 95.10
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