SHFL Aug $17.50 for $1.05 – starting to move. XXX
DNDN – today was supposed to be FDA day, that may be all she wrote or it may be a flush. I think I said last week that this needs to be put away and ignored with an order to sell half at $15 (or whatever a double is for you).
LOW – selling half for .10
KNOT – Oct $20s at $2 seems to be the bottom.
Lots of old leaders making a strong comeback, we could break out here.
Nasdaq must hold 2,550, S&P 1,510 of course.
TINY – Dec $15s are .62 and I like them as a gamble XXX
JBX $25 calls sold stopped out at $1.50, no point in buying Octobers unless I can resell the $25s at $2.50. XXX
CYD – wow. I wouldn’t touch them.
FDX – last time I looked there was still a lot of premium, now just .30 but I’m not willing to sell mine as we may still get pinned back to $105. Oil is not coming down and that’s bad for FDX so I’d say they are just caught up in program buying right now. My ratio on the spread is 10 to 8 (8 being calls sold) so I have a small buffer there. On the whole spread, I’m $250 behind but there’s nowhere to roll to so I just have to see how the week plays out.
SHFL – might come back to $16.50. I’d be patient and not buy into excitement. It was on my watch list and that little show of strength gives me confidence to call this a bottom.
GENZ – I stand by my pinned to $65 prediction.
DIA June $133 puts moved to June $134 puts for yet another .30 – one of these days we’ll get a drop!
QQQQ $46 – got my .80 and out of those.
S&P could not hold 1,510 again – not good.
Fundamentally I thought the CPI was bad and tomorrow we get housing starts pre-market along with industrial production and cap utilization. IP was awful last month and we know builders are hurting so I’m really looking at today as an opportunity to lighten up. If the Dow goes up from here it has to break my 13,500 target soon and I’ll be happy to get back in then but I’m keeping 20% of the profit stops on all uncovered calls.
SHFL – rather than sell mine I will sell June $17.50s when the time is right but I’m going to let them run as they’ve been on my list for a month and I expect them to bounce to $18. Tomorrow the present at a BAC conference and there is some rumor beign floated and lot’s of shorts (20%) who need to cover.
BA – When in doubt sell half applies here. That’s what I’m doing as it could go either way. XXX $2.35 is a pretty nice premium for a month either way!
AMGN – stopped out of the June $57.50 puts that were left this morning at $4.80 – this may be a bottom.
SHLD/many stocks – I’m not the only guy who’s seeing this rally as a good time to cash out, that’s putting weight on a lot of strong performers. I think I said at the beginning of the month, most fund managers have already had a great year so this is more about protecting profits while not wanting to miss out if there’s more to be had.
SLB – taking $3.50 for the June $75s, looks like a top.
Rails moving again.
GOOG – if you think its being pegged at $460 you can sell the $460 calls for $3.85 against the $470 calls for .82 and sell the $460 puts for $3.15 against the $450 puts for .68. That gives you a $5.50 buffer around $460 and your caller/putter will lose $1.50 per day in premium. Risk $4.50 against reward $5.50 makes this an XXX for people who are going to be around to watch it and make quick adjustments as you must stop out this transaction when one side gains 50% on you unless you are willing to risk a $5.50 loss.
SHFL – sold June $17.50s for $1, expecting to have some trouble breaking it but stop at $1.20. XXX
ONXX – on the move! Must sell half on this run (up 124%).
WYNN finding a possible floor. Premium on May $95 caller is still .90 and I can’t bring myself to pay the guy but I’m way up on the total trade so I’m just setting a buyback stop at $2.80 so I can’t go negative. on that leg XXX
GME – cant resist the $35 puts at .25 just for fun so I’m making an offer (they were $1 this morning).
WYNN – original was Jun $105s for $2.50 selling May $100s for $2.60. Bought those back for .40 and sold the $95s for $2.80. You can buy the Sept $100s for $6.75 and sell the June $95s for $4.75 which is a $3.50 premium so XXX as a new play there.
EBAY is massively frustrating. Following through with my DD at .55 plan on the June $35s
SHFL – you’re right – I’m the idiot that put a market order in this morning – and I never do that (kick, kick)! I already got stopped out of the damn Junes I sold so this trade is nowhere near as good as I thought it was for me. DDay gets the trade of the day award on this one!
SBUX – if this country isn’t willing to buy a $5 cup of coffee anymore then the end is near! Meanwhile I’m picking up the Jan $30s for $2.25 XXX
TIVO getting killed by relentless selling. I have a note from yesterday to buy it but this looks scary. I’m going to start with some Aug $5s for .90 (.30 premium). XXX
SHFL – too far out at this point. I’m done with mine here, can’t justify risking it open. XXX
Speaking of bear calls (or in this case bull puts) the GOOG $460 puts are right near a stop out at $4.75 so be very careful if you are in that trade. The trade is around even at the moment and should not be allowed to get too messy.
$460 calls + 1.35
$470 calls -.39
$460 puts – 1.35
$450 puts +.30
If we can make it to tomorrow both the puts and the calls should lose $1 in premium so that’s our goal but you don’t want to lose more than $1 here. I’m going to put a stop on the $460 calls at $2.85 as that’s a $1 gain there and then I will put a .35 t-stop on the $460 puts because I have to leave and can’t watch these. Hopefully it will just lay here at $459 though.
