GM sold the $35 calls for $3.30, we’ll see how it goes.
I’m sorry I sold those XOMs but I have tons of XLE $74 calls so I’ll manage. Tempting to sell the 9/30 $75s for .77, I think at $1.25 I’ll sell them to cover, depends on inventory of course. They were $1.50 on Friday but they expire in 3 days now…
RMBS leaped up, putting a stop on the naked ones at $2.70. XXX
CDS – I ring the register early and often on Chinese gains.
OOPS!!! I forgot HXL Dec $22.50s for the Happy 100!!! 20 for $2.60 XXX
FNF – no I do not stop out on a 90-day out call 24 hours after I enter it! K1 – please drop some links on scaling into positions when you get a chance…
CHK – You’re covered and you have 3 montht, relax.
AMGN – I bought my guy out and luckilly didn’t replace him yet but the $57.50 is my target.
CY/Any naked calls – if we hold 13,800/2,700/1,530 then there’s no reason to sell anything against our runaway postions in a hurry.
Damn those XLE Sept $75 calls are still in fanasy land at .40! SLB flying down.
Market looking shaky all of a sudden and the energy sector did not take that big of a hit…
You are very welcome Bob!
Oh if you missed the radio, there was a surprising build in oil but it was caused by low refinery utilization so not that meaningful but it still takes the wind out of the sails of the energy sector. Don’t know if I can blame that sector for the S&P fall off but the OIH group is taking a hit and XOM is in a power dive. We took the COP $85 puts on the radio as a mo play so let’s watch XOM for a turn signal there.
VLO taking a bath and TSO $50 puts may be a fun gamble again if it keeps going down, especailly if the S&P heads down too (when you are indexed in the S&P, you get sold with the S&P too!).
Does SHLD actually see a bottom?
CROX – yes I rolled them to Oct $65s. The way I did that is they were killing me so I bought them back on the mo, resolving to sell the $65s as soon as it stopped, trading in a no/low premium position for a high one at the cost of a few bucks. I was concerned that earnings would be an upside surprise and I would be in too deep with my $60 caller.
C gave us a hell of an entry! The answer to Brandon’s Q is to roll down to the $45s, not DD, that way you can sell calls if they run into resistance.
TSO puts, if you didn’t sell them (I did at $2.05) then just wait a bit and see where today goes.
HBC puts – I sitll have them at .75, that’s a DD at .55, the market could still collapse next week.
SHFL – same as before, if we’re holding these levels it’s not a good time to sell calls. I bought the $15s to cover my dead $20s so I will be selling against that 1/2 as soon as it turns down because I have the $20s as a backstop if they run away, I’m just .60 behind on the whole deal so I will sell the 10 $15s I need to for $1.20 to assure myself some progress but I will leave 10 of the $15s open and all of the $20s open as long as they stay above $15 because I think it’s ridiculous how far they’ve fallen.
Watch SLB for a possible turn signal on OIH. GSF $75s are just $2.25 and make a fun mo play with a stop at $2 looking for $2.75. XXX
Raising rates – Oh sure, when HE says it HE’s a genius but I’m just ranting… 
Posted September 26, 2007 at 11:28 am Permalink (Edit)
Stopped out XLE caller at .35, be happy for small things I think they’re going back up. XXX
BIDU took a nice dip this morning. I took the Dec/Nov $290 spread for net $4 as he should lose value much faster than me, danger of assignment though.
TASR buzzing again. I sitll like my Dec $17.50s at $1.20
1,530 will confirm a major attempt to get to new highs by Friday.
OVEN moving, I really like those guys, let’s go for 10 Apr $15s for $1.57 and sell 10 Nov $15s for .50 ($1.05 spread) in the $25KP XXX <NO Fill>
OIH still dropping giving up on GSF at $2.10. XXX FWLT should follow soon.
IRBT – gotta sell the $20s for $1, that’s 60% of what we paid for Dec and still .50 off the money!
XLE – selling Sept $74s for .75 if I can, it’s a good premium for 2 days left. XXX
Now oil sector is dragging the markets down. If they don’t pull it out here and get back to $79 there could be some serious trouble but COP turned up off $86.50 and XOM doesn’t seem happy below $92 so let’s keep an eye on XLE $74 and OIH $188 and OGX $270 USO $60.50 – XLE and USO already blew it, either of the other two and the XOM $90s make a good downside mo play.
People are running bck to bonds – look out below.
GSF – yes gone
Oven, no fill. When I specify a spread price, that’s what I’m putting it in for. If I say work my way into a spread, that means I’ll take my leg first and hope for some good luck with the caller.
This dip is all about GS downgrading MER but I think you could have said Santa Clause has a cold and people would have taken profits…
RMBS – I took my non-hedged portion off the table (trailing stop set earlier)
GM spread of Dec $40s at $1.80 against $37.50s at $1.58 (.25) XXX
DIA $138 puts hanging tough at .35, I’m trying to buy out that putter but he won’t sell me for .25 but at .25 if you need 2-day drop insurance it’s pretty good!
