LDK – don’t forget what you are ALWAYS supposed to do!!!
NMX flying! Beat by .02, I thought they’d do better so I’m selling the $130s, now $3.65 against for the moment. I’ll take some off if we break $127 but not otherwise. XXX
VLO didn’t last long. XOM cannot get it together, probably because refining was a good portion of their weaker-than expected profits.
Cramer on again, another sign not to trust the rally – it’s always scary when they put a tie on him…
NMX – I lucked out so far as it turned up before I got my sell in, I’m sticking with my plan but I’m waiting to see how far up it goes first of course. XXXX
IMB 8-(
TASR – I’m getting worried about the $17.50s I sold! Will buy out 25% while they are way low. XXX
OSTK – great call MrN! Their loss narrowed, yipee! Losing “just” .58 a share vs. .78 last year on declining revenues – woo hoo! Just remember the reality of what you are holding and ALWAYS sell into the initial excitement!
GRMN – expectations are way high but, if they beat them, look out! Your $90s are $4 of pure premium and if they should miss by a penny they will probably lose 50% or more of value before you can sell them so you might want to consider taking some off the table of moving to the Sept $90s at $6 and selling 2/3 the Aug $90s which would be the same as taking about half off the table but would leave you with a pretty good upside and less downside volatility (but still screwed if they miss).
IMB – I’d take some off the table if you were behind and rolling to catch up but I also want to hear the CC. Remember, the reason we took these guys is the CFO was ADAMANT that they did not have default issues and he said they reiterate guidance which, at the time, had them going to $40 in the next year. Now that the premiums have come out a bit, I’m nibbling on the Sept $25s, now $1.35 ahead of the call but I will have little tolerance for a pullback.
UTX a gift!
Woo hoo NMX!
Consumer confidence through the roof at 112.6 (vs 105 in June). Construction spending is down .3%, worse than expected but I don’t think anyone cares about that industry anymore.
OK, this is very funny. I haven’t touched the LTP and it’s up another 3%, I was sure I was going to take a hit on the VIX drop but I guess my callers are suffering far worse than my positions.
SOX were up huge yesterday, I’m liking the IWM Sept $83s, now $1.67, looking to make .50. XXX
NMX – got $5.25 for the $130s so I sold 4/5 XXX Dropping fast now but may make another run.
XOM cannot get it together, nor can BA, CME pulling back, FDX treading water, SHLD not buying consumer confidence (or is real estate falling off a cliff?) and the DIA $135 putss at $2 are my put of choice at the moment. If the Dow can’t hold 13,450, I’ll grab the $134 puts a little early because $77.55 is a lot of money for oil, even in Euros… XXX – remember, these are protection plays, not profit plays!
