GOOG – don’t panic, if you intend to roll then you can always roll, the postion you will roll to will go up more than the one you intend on buying out so there is no hurry. If the Nas doesn’t hold 2,600 then I doubt Google will hold $500 but watch Apple at $120 too.
DNDN – what a nightmare for complacent shorts!
DNDN out of $7.50s at $3, might be too early but WOO-HOO!
I will enter DNDN July $10s if they hold $9 and sell the June 10s on a bounce so 10 for the $10KP but only if it holds $9 and starts moving back up. I placed the spread order at .20 to see if I get a bite for now, if that fills I may still buy 10 more on mo.
RDS.A July $75 puts at $1.97 are the only new ones I’m buying. The OIH July $165 puts for $4.35 are the mo play and otherwise it’s a DD on my existing positions. I have no positive plays lined up but I suppose the XOM July $85s at $2 should move well with the stock.
Market does not look good to me though..
OK so oil inventories were not that bullish and I’m looking at this as a head fake but it’s a big one. Let VLO show us the way and don’t try to outthink it, if they break $75.50 then there will be no stopping the push but I’m accumulating $75 puts at $1.40 with a .20 tstop after my first DD at $1.10 (basis $1.25, stop at .90 for a pretty nasty loss if I blow it). XXX for crazy people!
Executed 10 more DNDN July $10s at $1.05 will sell Junes later but I’m hoping for a credit spread on a lunch spike since the markets look boyant and oil is behaving itself. XXX
OIH $165 puts were $3 yesterday and now $1.38 so I’m offering $1.20, DD at $1 with a .25 Trailing stop, half out when I get even (if I have to dd) of course.
PTR is a good double whammy possibility here, they could go down on their own or they could get dragged down with China. July $125 puts are $2.75 so I like those along with the Sept $130 calls at $7.85, selling the June $130s for $2.80 against those. XXX
Real Estate (even commercial) trading down, be careful of the market turning!
Gold back at $666
Z sounds smart! Hey man, I just called an exact top on VLO to a national radio audience and gave them a play that made 17% in less than an hour already (1/2 out at $1.65, .20 Tstop by the way) –
Holy cow, look at SLB go! Ka-Ching on the OIHs!
BTU – yes, part of DD call earlier. .80 not so bad but hardly worth it at .90.
DNDN, I have 10 naked $10s at $1.05 and 20 covered ones. I would hate to have to take a .25-30 spread and I’m waiting for lunch to see what happens but I will absolutely cover at EOD (there’s also the possibility of selling $7.50s on downward momentum if it breaks below $9 so really playing it by ear).
DIS – offering .25 for 20 more July $37.50s in $10KP XXX
HOT overheated, July $70 pus were $2.65 yesterday, now $1.65 and very sensitve to high fuel and consumer failings. XXX
NYX – I wouldn’t sell here. Better off hoping for another run to $85 and selling the Jul $85s for $5 (now $4.10), maybe against 75% of the position in case something crazy happens. It’s all premium so you only have to get away with it 4 times to pay for your calls. Seeing that insane spread leads me to recomment the Spread of the Dec $90s for $6.90 and selling the July $85s against them for $4.10. XXX
Nas and S&P at critical levels here, failure of either is a good time to lighten up. Failure of GOOG $500 and AAPL $120 also bad signs.
Oh great, now I filled my DIS calls – not so sure I want them if we’re going to start blowing levels like this. I know it’s blaspheme but I’m selling the AAPL $120 calls for $3.75 against my other positions as a mo play XXX
FXI – Nov $117s for $7.35, selling the June $112s for $2.75 XXX Put spread is very dangerous as China could drop 500 points in one day.
GENZ – I have the same June $67.50s from 5/1. I would be pretty confident that the $65s will expire worthless after today’s move so I’m going to sell those for .90 with a $1.20 stop but this stock is generally a great one to go long and sell calls against. XXX
DNDN – looks like a flush to me!
FXI – you can roll yourself and the caller down $1 at will and you won’t wake up one morning having 50,000 full shares put to you $7 above the trading price.
If you missed AMTD try OXPS.
WLP – wait for it to go down and then buy it and wait for them to get another guy who knows math. They are unlikely to be lying when they say it is immaterial so let the suckers clear out and take maybe the Sept $85s, now $2.60 but I would jump on the Sept $80s at around $4. XXX $80 should be the bottom so let’s watch there.
DNDN – if they were worth $15 on probably immediate approval and $6 on possible ‘09 approval then it stands to reason they are worth more than $10 on probable ‘08 approval.
AXP credit spread of July $67.50s at .80, selling the Jun $65s for .90 but you may end up owning the $67.50s for $1.50 if it pops up (but if it’s at $66.50 on June $15 it’s not so unappealing to own there is it?). XXX
Well everyone seems to have held their critical levels nicely including the SOX but we need an up 200 day that has no following correction for us to declare ourselves truly in a higher orbit.
DNDN – I think that’s it for now, selling 7 $7.50s for $1.35 against the 10 July $10s I bought for $1.05 XXX
ATVI – beat. I like the July $22.50s at .25 for a fun play and I also like the July/June $20 put spread for .30 but not a penny more.
