It's been awhile since I froze up on a trade. I was all set-up to pick up puts on the ferts but got too distracted with all the green (I had a few financials and tech) on my screen. I need to do a better job of reshuffling my watchlist to make sure I seize these opportunities as they don't come that often. On the bright side, my positions held up pretty well.
WM - Still holding
VPHM - Still holding but losing patience
ICE - Sold the Sep 95 Calls for $0.30 loss and moved into Sep 70 Calls. With 3 weeks to expiration, I want to see more of a 1-to-1 movement. So far this has been the better play as I'm up $1.00 on the calls.
ABK - Nice pop today. I took some profits off the table.
SPWR - Whoops, forgot to mention this one. Despite my plan to exit at the open when it gappedd up, I ended up selling for a $0.50 loss on the calls.
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OE, this market is getting too erratic for me...or am I getting too eratic for the market? Still holding XLF puts but I should be paying attention to the relative strength in financials> I may bail out of these sooner than later. Q's still look weak to me but a bounce may appear out of nowhere. Again, may unload these as their Sep's. As if that's not enough, as you saw, I sold my IPI puts too soon, but hey I didn't lose money. I do like my UNG calls, XLU puts, and still believe in the double bottom theory of my FXI long. I picked up some XOM Sep 85's @ .13 this morningwith the houses money as too many are bearish on oil. And yes, I still have those dreaded GG calls...but we may get a bounce here. all in all still making hay and picking my spots. I'm patiently waiting for your picks for expiry week.
Hey D, I can't wait for options expiration week. These wild swings are tough to trade for me as the premiums are sky high with the volatility. You've been one so close your shorts (tech, Ags, etc.). Sooner or later you're going to nail them. Financials are looking strong so keep the XLF on a tight leash. I think we rally tomorrow with financials and retail leading the way. I'm keeping my eye on SHLD as it is banging up against 96 again. On the short side, I'll be looking to fade any strength in BIDU as it closed below support. My theme is still short for the month of September, though. BTW, we should have picked up puts in CALM after Aug expiration...
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