WYNN – buying Jun $105s for $2.68, selling May $100s for $2.72 (stop at $3.25) XXX
TASR – that turned ugly, June $10s down to .45 already. Not adding more as it may be flatlined to expiration but not stopping out on these or Jans yet.
HLYS – massive insider selling causing drop, nothing to do with long-term prospects. Happy holding Aug calls. Also waiting on May $40s – it’s a long way to go in 8 days and I have nothing I want to roll to just yet so no sense in paying a dime for the hell of it.
HLYS – now that I’m looking at it, it’s worth .45 to move to the Aug $40s but not really in the $10KP as it’s too speculative. As to discussions re. waiting for .10 at expiration. I have no capital at risk and I am ahead .37 so yes, another dime makes a huge difference if I can get it (assuming I don’t need the margin freed up).
DNDN play: Are you sure about those numbers? I prefer to keep it simple. This time I like buying the stock for $17.20 and selling the $12.50s for $8.10 for a basis of $9.10 collecting, hopefully, $3.40 in profit in 10 days. XXX I wish I could balance this with shorts as the $30 puts have a $3 premium at $15.60 but there are no puts to be had.
Another DNDN play is to buy the $2.50 calls for $14.65, sell the $12.50 calls for $8.10 (net $6.55) and buy the $7.50 puts for $1.02 (net $7.57). It’s not perfect but you can’t lose more than .07 and you can make $4.93 (up to when you get called away at $12.50s less the $7.57 invested). XXX I’m going to try to get 20 of these for the $10KP as there’s no margin issue here but it will be our third DNDN play and it will be awful if they go to $5 so be careful. There’s a little mo right now so treat it as such and wait to sell the higher calls~
LCAV – I got none – gave up.
WYNN $100s? The reson that trade works is because some numbskull is willing to pay me 2% for 2 weeks (50% premium). Never panic sell. The May $100s are still coming in over $2.50 if you are patient, $2.15 is for people who put in market orders. June $105s have been coming in at $2.50 too so the trade is going better than I had hoped.
LCAV May $45s cannot be hedged without too much risk but the way it’s running you could just cash half out before earnings for a cheap ride on the rest!
DNDN NOV – with an unconfirmed rumor like that the best thing to do is to wait and see if we get a sudden volume move, then dive in. No sense in acting on it by ourselves as it is 50/50 just BS and we can get burned but, if it takes off, then we can guess that at least it’s making the rounds and should be good for maybe $1.50.
MT/AKS is unconfirmed, even though it was in the Journal this morning. Started in the Financial Times which is turning into the National Enquirer of the financial papers…
DNDN – oops that’s right. At 0 I get my money back and at $10 I get my money back but I lose up to $2.50 between 0 and 10! It’s still a good risk/reward but it would be smarter to cover it with the $10 puts at $2.25, giving up $1.25 of the possible gain lowering your risk by $1.25 as well. It also raises your break-even from $10.07 to $11.32 but I doubt that will be the distinction if it’s a bust.
This is why I don’t do these during the day, if I don’t write them out on paper I tend to miss little things like $2.50 worth of losses!
