"Today reminds me of that Barrons commercial…”The market goes up you make money, the market goes down you make money….but this time it’s because of PHIL, HAPPY, and ZMAN."
Well that sure makes us feel good! Thanks!
We had a fantastic day on the member site as we played yesterday perfectly by loading up on the puts, especially on the oil sector but our DIA mattress plays paid huge dividends today as well, pushing the STP up over 300%, up from 277% on Friday.
Will the markets do it again tomorrow? I'm betting not. Our last play of the day was to grab DIA $140s for a dollar and QQQQ $50s for .60 as I was concerned that AMZN could spark a tech rally and we could be good for at least a 50 Dow point bounce, even if we are going to head lower for the day. Those Q calls were trading at $1 around lunch and at $1.25 last week so they seemed nice and bouncy and, at this point, we were more in need of upside protection than down.
Pundits are blaming CFC for a very poor report and an even worse conference call (I highly recommend reading Barry's summary) but I say that's just shooting the messenger as CEO Angelo Mozilo says that the "company is seeing home price depreciation at levels not seen since the Great Depression." For those of you who don't remember, the Depression was a bad time to be in the markets…
Oil did just what I've been predicting it would do for the past week and the action was so good there that we were even able to add an intraday double on WNR. Our morning Apple play went perfectly as we got our dip, our recovery and another dip and IGM was indeed a saving indicator as the sharp turndown at 12:30 kept us firmly on the short side but NOW the Sept $60s make a nice gamble at .65!
Happy Trading kept us on our toes yesterday with this 12:10 chart – reiterating the cash call we've been going on about since last Tuesday:
At 2:56, just before the market dropped ANOTHER 100 points, I said: "A lot of things look like they are getting ready for a second leg down! CEO, RIMM, PTR, XOM, CVX.. heck everything!!!"
So that's pretty much how the day went… We'll see if our pals at AMZN (and don't forget GLW and BA in the morning, all heavy positions for us) have enough to bring the markets back in the morning but we're not going to get too excited until we see some real retracements so tune in tomorrow for a full report.
|
Description |
Basis |
Open |
Sale Price |
Sold |
Gain/Loss |
% |
| 10 AUG 140.00 AAPL CALL (APVHH) | $ 6,610 | 7/24 | $ 8,240 | 7/24 | $ 1,630 | 25% |
| 10 AUG 135.00 AAPL PUT (APVTG) | $ 5,260 | 7/11 | $ 6,390 | 7/24 | $ 1,130 | 22% |
| 40 AUG 135.00 AAPL PUT (APVTG) | $ 18,810 | 7/20 | $ 24,990 | 7/24 | $ 6,180 | 33% |
| 20 AUG 85.00 CLF CALL (CLFHQ) | $ 8,710 | 7/6 | $ 6,990 | 7/23 | $ (1,720) | -20% |
| 10 AUG 85.00 COP PUT (COPTQ) | $ 2,210 | 7/20 | $ 2,790 | 7/23 | $ 580 | 26% |
| 20 AUG 90.00 CVX PUT (CVXTR) | $ 3,010 | 7/20 | $ 3,990 | 7/23 | $ 980 | 33% |
| 400 AUG 140.00 DIA PUT (DAZTJ) | $ 90,810 | 7/18 | $135,990 | 7/24 | $ 45,180 | 50% |
| 200 AUG 139.00 DIA CALL (DAZHI) | $ 39,010 | 7/12 | $ 39,990 | 7/24 | $ 980 | 3% |
| 30 SEP 142.00 DIA CALL (DAZIL) | $ 6,910 | 7/16 | $ 5,990 | 7/24 | $ (920) | -13% |
| 250 AUG 137.00 DIA PUT (DAZTG) | $ 32,510 | 7/3 | $ 32,490 | 7/23 | $ (20) | 0% |
| 50 AUG 80.00 DNA CALL (DWNHP) | $ 260 | 7/2 | $ 1,740 | 7/24 | $ 1,480 | 569% |
| 40 AUG 10.00 DNDN CALL (UKOHB) | $ 530 | 5/31 | $ 590 | 7/24 | $ 60 | 11% |
| 10 AUG 50.00 FAF PUT (FAFTJ) | $ 1,160 | 7/9 | $ 2,990 | 7/23 | $ 1,830 | 158% |
| 25 AUG 35.00 GM PUT (GMTG) | $ 2,135 | 7/10 | $ 3,990 | 7/23 | $ 1,855 | 87% |
| 15 AUG 520.00 GOOG CALL (GOPHV) | $ 13,510 | 7/23 | $ 19,865 | 7/24 | $ 6,355 | 47% |
| 10 AUG 520.00 GOOG CALL (GOPHV) | $ 9,510 | 7/23 | $ 12,990 | 7/24 | $ 3,480 | 37% |
| 10 AUG 520.00 GOOG CALL (GOPHV) | $ 9,510 | 7/23 | $ 9,990 | 7/24 | $ 480 | 5% |
| 10 AUG 520.00 GOOG CALL (GOPHV) | $ 9,010 | 7/23 | $ 9,990 | 7/24 | $ 980 | 11% |
| 10 JAN 50.00 KO CALL (VKOAJ) | $ 3,060 | 1/16 | $ 7,890 | 7/23 | $ 4,830 | 158% |
| 25 AUG 50.00 MRK CALL (MRKHJ) | $ 3,260 | 7/18 | $ 8,740 | 7/23 | $ 5,480 | 168% |
| 20 AUG 140.00 NMX CALL (NMXHH) | $ 6,310 | 7/6 | $ 11,190 | 7/23 | $ 4,880 | 77% |
| 20 AUG 180.00 OIH CALL (ODLHP) | $ 4,610 | 6/22 | $ 22,990 | 7/23 | $ 18,380 | 399% |
| 10 AUG 75.00 SPWR CALL (QSUHO) | $ 410 | 7/13 | $ 1,440 | 7/24 | $ 1,030 | 251% |
| 20 SEP 35.00 TIE CALL (TIEIG) | $ 3,610 | 7/18 | $ 4,390 | 7/24 | $ 780 | 22% |
| 20 AUG 57.50 TSO PUT (TSOTZ) | $ 3,910 | 5/2 | $ 7,590 | 7/23 | $ 3,680 | 94% |
| 30 AUG 55.00 TSO PUT (TSOTK) | $ 6,010 | 7/19 | $ 9,290 | 7/23 | $ 3,280 | 55% |
| 400 Tesoro Petroleum Corp. (TSO) | $ 21,710 | 10/30 | $ 21,738 | 7/23 | $ 28 | 0% |
| 20 JUL 22.50 TWX CALL (TWXGX) | $ 470 | 5/25 | $ – | 7/23 | $ (470) | -100% |
| 20 AUG 50.00 WNR PUT (WNRTJ) | $ 2,110 | 7/24 | $ 4,190 | 7/24 | $ 2,080 | 99% |
| 20 AUG 110.00 X CALL (XHB) | $ 6,010 | 7/20 | $ 5,990 | 7/24 | $ (20) | 0% |
| 100 AUG 95.00 XOM PUT (XOMTS) | $ 33,010 | 7/2 | $ 49,990 | 7/24 | $ 16,980 | 51% |
| 100 AUG 90.00 XOM PUT (XOMTR) | $ 19,000 | 7/2 | $ 12,990 | 7/23 | $ (6,010) | -32% |
| 200 AUG 95.00 XOM PUT (XOMTS) | $ 70,010 | 7/23 | $ 69,990 | 7/23 | $ (20) | 0% |
| 50 AUG 35.00 YUM CALL (YUMHG) | $ 260 | 7/11 | $ 3,240 | 7/24 | $ 2,980 | 1146% |
