I definitely wasn't focused today. After the market gapped lower, I told myself to look for overextended stocks that could rollover. Instead, I spent the morning wishing for a rebound in the Ags and energy/commodities so I could get in on the move and trying to will the solars higher. When these weren't panning out, I finally settled down and got to my original plan for the week of looking for options expiration setups around 10AM. Anyways, here are a couple that I pulled up and "passed" on. The key takeaway here is to be on the side of the market direction. The path of least resistance was "down" in financials and momentum as opposed to "up" in Ags/energy/commodities:
WYNN - I put this on my watchlist last night but didn't do anything with it until 10. The Aug 110 Puts would have been nice but WYNN had already gone lower by the time I pulled up the quote. If WYNN rebounds back up to the 20SMA tomorrow morning, I'll pick up some Aug 105 Puts.
AMED - I wish I knew about this report
http://www.citronresearch.com/ when I pulled up the option chain. The Aug 65 Puts were trading around $2.00 at the time. The intraday range was $0.52 - 10.72:
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7 comments:
OE, any input on GILD and/or CALM for a two day lotto would be appreciated...both these (from you and other blogs) look ready but AUG may cut it close. What say you to a gambling man?
I'm on gambling probation after the lousy MELI earnings...hahaha! I'd stay away from GILD as it is looking choppy. As for CALM, I'd wait for a bit of consolidation from the morning spike before going long. The down market is putting a lot of selling pressure on all stocks. I'd focus on the AGs for now. Damn, I was one day off with those POT and MOS calls!
Took NEM 42.5's & 45's off the table (near the highs) for grt profit. Thx for your input on GILD & CALM..will stand pat on those....Crap, I was looking at IPI myself this morning and did'nt pull the trigger!I did just buy more BP Aug 60's-ex-dividend today...may follow the group ltr today or tomorrow.
I also sold some GG @ 33.00. Very low-risk entry on CALM. I may pick up some shares, here. Stop @ 43.60.
OE, which ops on CALM would you pick up?
I'd say the Aug 35's but wait until there is volume and price confirmation above 44.
Thx for ur guidance.
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