Oil – if it holds $65 for the day they will be able to rally around it into inventories.
Don’t forget to sell 1/2 DIS July $37.50s for .35 XXX
DIS – I’m just saying as I have to go to a meeting so I’m setting a sell order…
As expected transports are dragging, RUT also not responding, NYSE not going green and we don’t get a real rally without them.
GOAX turning down too (Google, AAPL, BKX)
SWIR busting out – July $25s for $1,90 are a good way to go and you can sell the June $25s against when/if it calms down. XXX
WTR rising, Dec $22.50s are still $1.50 (our entry was 5/18).
JOSB – Just what we wanted, right in line, should keep them in this range and destroy the July callers premium, nothing to do but to wait for expiration. $10KP was set up for safety and patience this month, maybe next week we can play but there’s nothing about this market right now that makes me want to stop playing it safe!
DD on DIA Aug $132 puts XXX Bac, bad housing sector!
DIA – of course I still have my Aug calls for balance so I am weighting back to negative here.
SWIR – goal is to pay less than $1 on the July/June $25 spread, was .90 when I called it.
30-year back at 5.25% – not good
OIH, offering $1.50 for $170 puts – very risky but I think $170s a tough sell.
Speaking of index puts – I don’t have any QQQQ puts and don’t want them right now and I’m going to be rolling the July $132 puts to July $134 puts for +.60 by the end of the day (remember I am making money on the way up on my DIA Aug $138s so this is partly revenue neutral and will allow me to sell June puts against if the market keeps going up). XXX
