GOOG – be careful shorting them in any way. If they hold $480 they are likely to take any excuse to make another jump.
WFR – bought back half my callers at $2…
AMD doesn’t see a rally.
NYX pulling back so protecting not a bad idea here! XXX $90s are $2.60 and way out of the money.
CTSH – I wouldn’t. Looks more like a bottom to me.
Out of DIA and QQQQ puts by the way and will rebuy once this run is done. XXX
TIE making a move. ATI too but would like to see confirmation from AIR or BEAV before I assume it’s something other than metal mania.
X is flying too. $110s for $3.15 as a mo play with a .50 tstop. XXX
If BA shakes off guidance report than we are mooooing in the markets today.
There goes AIR and BEAV. Damn, got to be fast these days! I’d buy BEAV but it’s in a bad place between contracts and I don’t trust it yet, would rather pay up for July $40s if it breaks $37.50.
As a rule of thumb I am still pulling things that drop 20% of my profits as anyone who can’t go straight up in this market is suspect and I simply have too many positions that have gained too much anyway…
BIIB flying and that’s another don’t ask just buy kind of stock so I’m picking up the $50s at .60, half out at .80+ XXX
Inventory is a crude build at least or they wouldn’t have dumped all those NYMEX barrels. Distillates should be a build too and gas is a wildcard but I know I tend to not take 2 weekend trips in a row so you’d think people didn’t drive too much last week.
AIR July $35s for .95 selling the June $35s for between .60 and .90. XXX
TIE July $40s at $1.40 if they pass a test at $36.50. XXX
BIIB – I’d feel better if I had any idea why I’m in this trade, half out at .80 XXX
VLO just missed my $1.50 bid again on the $75 puts by a nickel – very annoying!
ICE fell off a cliff and is a rebuy on the $150s if they come down to around $4 (stopped out at $8.50 on the last of them this morning). XXX
VLO cliff diving already.
BIIB all out if it can’t hold $47.85
SU $85 puts added at $1.15 XXX
Huge builds +2M crude, +1.5 gas, +500K distillates with refinery utilization at 91.1 (BTE).
SU in denial. COP clueless so I’m adding $75 puts at .92 XXX (all oil plays very risky of course).
TIE that was a target price as I think they’ll pull back, if not I wave bye bye to the train that left the station.
Drillers making huge comeback.
If this is a head fake in oil, it’s a hell of a big one! Covering with CVX $85s at .80 XXX
Optrader – I agree but will rely on trailing stops and never letting the market close without DIA puts within $1 of the strike.
Still buying more oil puts at the week’s lows, this is what I wanted, a run-up into the weekend – crazy churning at the top is not necessarily good for them (kind of like the way a bubble starts to swirl just before it pops).
BIIB – can I have my 1/2 back?? Half out again at $1.50 – wow! XXX
Bye bye BIIB out at $1.30 might rebuy later. XXX
OIH back in July $160 put at $3.05 XXX
If oil is up for real why is ADM going down? PEIX is moving though.
GLW breaking out!
Possible last chance at TIE.
Watch the Homeys, if they fall off then everything the rally was based on is BS.
Not a Dow rejection unless we fail 13,570 (have to expect some consolidation ahead of 13,600).
Spectactular miner recovery in general. I’m grabbing my old favorite MRB, who are on the move at $4.74 with a stop at $4.50. XXX
LOL – CNBC is trying to say that our .45 gasoline tax does not encourage wasting gas (europe is $4, Asia is $3).
LOL – floor trader on CNBC said they are holding back supplies and driving prices up and they cut the interview immediately – Classic!
DIA – finger on the trigger of $136s at $1.50 – bouncing right off my target here…
No SOX today. Transports ignoring oil but using that as my primary canary.
LNG looks like it’s had it. The July $35 puts for $1.25 seem reaonable…
Beware TIE and AIR as BEAV just crashed. XXX
AAPL frozen here, good time to roll my Oct $100 puts to $105 puts for $1.40 and another 1/2 for good measure XXX
YRCW – ok, now I’m going to have to kick myself for being impatient. I never would have dumped those July $45s in a market where everything else wasn’t flying… Taking $40s at $1.05 mindful of the 200 dma at $40.25 XXX
Now CNBC is going to explain how lack of competion in Big Oil is not contributing to higher prices – I’d love to know who pulls the strings on this PR machine…
XLE $68 puts for $1.20 with a .20 tstop XXX
Reminder, my oil puts are mainly a hedge on a down market to offset a massively bullish virtual portfolio.
KNOT diving. Adding Oct $20s at $1.85 XXX
GG nice and cheap today, I gave up on them yesterday though as they were my weakest gold performer and I did a DD on AUY 09 $15s instead but gold is still shakey and the miners are nervous so these are also just disaster protection for me.
VLO Rule downturn, first one in ages. VLO, CVX, XOM, OIH, XLE, SU, SLB – could signal a nice move down very fast!!! XXX on all puts discussed earlier.
AAPL:
AAPL Jan-08 $100.00 Call 04/19/07 5 $8.20
AAPL Jun-07 $110.00 Call 05/17/07 -20 $3.55
AAPL Oct-07 $115.00 Call 05/17/07 20 $7.40
AAPL Oct-07 $105.00 Put 04/25/07 22 $5.75
AAPL Jan-09 $120.00 Call 05/10/07 10 $16.10
I’m pretty happy with the mix but the $110 caller is obviously painful. If they don’t break $115 I expect a pullback so I’ll be stopping out of the Oct Calls and the Jan ‘08 calls and rolling the caller then (after the drop). If it keeps going up I will bracket up the Jan ’08s and roll the caller into 2x $120 or $115s.
BWLD – gone on 20% rule and not interested in getting burned twice.
LEND going nuts.
Nadaq 2,599!!!! Playing the QQQQ $48 puts for $1 with a .20 Tstop as protection. XXX
JSDA making a huge comeback. FIZ jumping too. LOL, silly markets…
GLW testing $25 again. Must consider selling $25s if they don’t break by EOD unless market has a good finish. XXX
CHK – I have $35 puts at .68, now .45, will DD at .40 better to buy one of these than 8 $32.50 puts other than as a pre-roll.
Triggered DIA puts when it crossed and stops triggering all over the place.
PBR dropping hard and fast, PTR is reliable follower with the $125 puts at $1.30 XXX but a very dangerous one!
LOL, that Greenspan, what a card! He murdered the FXI…
Ka-Ching on TSO June $115s on this run, going half out at $3.50 but very mindful of a pullback and will sell the $120s for $6 as a mo play for the bounce. XXX
TSO – .25 tstop on 1/2 the $115s and then a .40 sell stop on the $120s
TSO – am I good or what?
GE not buying the drop, not GOOG, not SHLD.. may not last long so don’t get too excited about puts.
MSFT actually moving now so I’ll take the July $32.50s for .31. XXX
DIA puts are insurance. After what Greenspan said (long after Asia closed) I don’t want to risk too much overnigh that isn’t covered. XXX
Check out TGT and COST, massive sentiment change on retail…
CBS joins DIS on the upside for the day, TWX makes sense with July $22.50s at .35 – 20 for the $10KP!
AAPL – very strong, not really thinking it goes down, just that it has trouble at $115 but I’m setting up to be covered to neutral going into the weekend.
China B – good catch Dom, where are you pulling that because I missed it too.
TSO – I’m playing for a bounce into tomorrow’s gas inventories as hope springs eternal for idiots who pay $120 for this stock.
CNBC just reminded me MA is another potential short.
$10KP TWX is a DD at .20 if there tomorrow, maybe .25 but certainly not a position to panic out of. XXX
MA – can CNBC have worse timing with their pump reports? $135 puts are $2.30 XXX
TWX – .35 or forget it. They have been going off at that price, never offer the ask unless you desperately want something.
TSO – selling 1/2 $120 puts into the close regardless.
TWX – They ran to $23 in Jan but broke down and the May 1 earnings were taken well at first but they had a little pullback. I expect them to get back to $23 in 30 days so the sooner they do it the better we do and I didn’t want to chance missing an entry, even though it may drop back in a weak market but this position can be saved (in an emergency) by buying 10 Oct $22.50s for .80 and selling 10 July $20s for $1.85 (.30 premium) as a mo play to the downside, using the July $22.50s as a backstop for a run-up and otherwise loving a market downturn as it would leave you with free July and October calls but in a flat market I’ll have faith that they take a lead and stand pat to .20 where I’m more likely to DD than take a $300 loss.
MRVL – I totally agree. Ridiculous sell off and will pop when options issues are resolved but painful to hold. I don’t like the premium on the ‘09 $15s so I would take 1x $17.50s as well as 1x Jan $15s for a $5.85 total and aggressively sell 1x July $15 calls for a .60 premium so that 3 sells will pay for my ‘08 premium and I collect that time spread at will and I get a $1 insurance buffer each month and if it pops I get the full benefit on my longer calls. XXX, but let’s see how tomorrow goes first!
