I hate to tell you guys but I’m not liking the oil puts this week, they all have room to go (up that is) for the week so we just have to watch oil $55, firm eye on the Valero rule and see how far they are willing to take it.
- STX – I am going to take half off with a .15 trailing stop here ($1.60)
- setting a stop at a .40 trailing stop on the rest as this is a 52 week high and, as it was quiet for so long, I have a lot of it!
- DD on XOM $72.50 puts for .90
- again, I HAVE A LOT OF COVER CALLS!!!!
CTX cliff diving! Mortgage numbers not good.
- DD CVX $70 puts at .90
- tight stops on these new oil puts!
- Covering my new (today’s) oil plays with OII $40s for $1.75 (estimate) if it breaks $40!
- PBR $95 puts too enticing at $1.75,
- I’m in (setting myself up for a whupping if I’m wrong in inventory!
- PTR $120 puts for $1.20
Posted January 24, 2007 at 10:32 am Permalink (Edit)
700K build in crude 4M build in gas 700K build in distillates – “Could be seen as slightly bearish” according to the weather girl!
Bwah ha ha!!!
- VLO $52.50 puts for 1.65 make nice momentum plays!
- T – selling $35s for $2
- not buying more yet
- CAT – Selling $60 calls for $1.55
- against Jan ‘09 $60s
- COF – Selliing $80s for $1.45
- against Jan $75s
- FD – Selling $40s for $1.65
- LEN – Adding $50 puts for .50
- PD – bought out $120 putter for $1.25
- 1/2 out of CY Mar $70s at .95
- applied .20 to basis (.55) – .75
- stop on rest (SPWR is going down).
- Sold DIA $125 calls for $1.75
- against June $124s.
- STX – Mar $27.50 1/2 out at $1.70 and $1.50
- All out
- VLO – stopped out of $52.50 puts for $1.30
XOM Feb $75s seem very cheap at $1.20 – not that I want them, just an observation.
- OII not buying yet, rally was another pump, don’t believe it.
- PBR – taking round 2 of $95 puts at $1.20
- PTR – taking round 2 of $120 puts at $1.10
- 1/2 out of Goog $510s at $14.90
- (as they were a DD yesterday and I’m glad to be even at the lower basis).
- Selling the Feb $520s for $13 on 3/4 my Mar $520s (which were also a DD)
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YHOO Selling Jan ‘08 $25s for $6.70 (up 100%)
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that’s plenty and I’ll reposition later. Not enough to be gained selling the $30s for .45 and too much to lose!
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