Holy cow on ICE! How much are we loving that roll play to the $150s yesterday?
PCP is a great co put their run-up scares me and I’d rather buy them on a dip. BEAV, AIR, TIE and ATI are the way I like to play BA and BEAV should hold $36 and make an entry but I’d really like to see BA break up first.
WYNN $105s out at $1.30 XXX Same goes for LVS $80 puts we sold at $2.60 (holding the WYNN call spread though). I’m thinking of shorting MGM if the buying trails off with perhaps the July $75 puts at $2. XXX
QCOM – not getting the action you’d expect. CSCO too.
DNDN, on the other hand, back at $7.15. My average hold on that stock is $8.32 so it’s hard not to sell those $7.50 calls at .55 and be done with it… At $1 I will certainly put a cap on half.
GOOG – still have the Julys, need to think about selling $470s again… Yesterday was $14.95, maybe $1 off the peak when we sold them but not if the indices are heading up. SOX coming back maybe???
NYX – my answer in prev post was I would not chase it but I said that about ICE yesterday so take it for what it’s worth… Speaking of ICE – had to take half off at $9 on $150s, I mean – come on! XXX
RIMM spending $1.10 to roll to $150 put at $2.60 XXX
TM – still have Jan $120s, bought back caller yesterday – looks like I could have waited…
AXP – Where’s my Cramer pump? Just a light entry here – see yesterday’s comments on scaling in.
TSO – I called $124 a top yesterday so I sure hope so! Had a $1.50 bid in for more $115 puts that didn’t get filled so I’m just going to wait and see.
LVS – same concept of scaling, I was WAY out of the money on those and that was, I thought, a sell into the initial excitement. But this lets me get out of my long puts as I no longer want the position (up 429%) so I’m stopping them out at $10 ($1 tstop).
FDX – thanks for pointing that out. Need to buy back the $110s at .50 and sell $105s if they go down to $2. XXX (against the july $115s). If I didn’t have margin for that I would kill the trade with a $400 profit, not bad for a $90 investment!
Funny oil going down with BP shutting their pipeline yet again but be careful getting excited about oil as they roll to a more expensive contract tomorrow.
LVS – LOL! You’re right, no wonder no one will buy from me! Actually it’s only on my watch list, I haven’t put in the order yet or I would have seen it then. Same concept but, since I’m only up $6 I’m going to set the stop at $7 but a .75 tstop to the upside.
Dow – I agree, this is weak, setting tight stops (mainly 15% of profits), good time to lighten up. XXX
OIH going my way finally!
DWA – why even bother making a hit movie if this is how they treat you?
HLYS – dead money in $10KP but we sold more expensive May $40s against them so not worth risking much on but the June $35s are .25 and those can be sold without too much risk or you can sell the July $35s for .90 and what you would want to do there is roll to the Aug $35s (currently +.90) if it starts going up on you. Personally, I’m leaving mine alone as I don’t feel like adding it to my watch list.
X – GS sector downgrade means we should give it a day or so but yes, I like them.
DIA puts – just letting them go for now, my damn stops never trigger so I need protection but it’s hard to say from what – even the SOX are positive now.
Check out BUD – big sell-off yesterday, massive move (for them) today. The whole market is like that, you just can’t make any money on the short side. Speaking of which – RIMM near $160!
GOOG with a more orderly rise today, does not make me want to sell calls at the moment.
Rates are pushing up, I’m concerned about a breakout here if they don’t pull back soon. Trying to envision the macro money movement picture here but it seems like money is going out of treasuries and into stocks – could be good for mega rally but also it spells the last tappable pool of capital so look out below if this thing falls apart.
Yen calls – very interesting! I don’t know about short-term but a leap might be very attractive.
AAPL – looks consolidating more than topping but it won’t fight the market.
VLO puts – I’m in for the week, my premise is that this weekend’s driving will disappoint but I wouldn’t bet big money on it.
First time I’ve seen SPWR go up without CY following..
CAL and AMR are big INTL flyers, LUV not getting love so it may be just a play off rich Europeans coming over.
MTN flying too – something has changed in real estate.
LCAV coming back
Welcome Madyo – had you recommended BUD we’d all think you’re a genius now so don’t be shy!
I’m still watching GOOG to tell me which way things are heading. We broke the S&P yesterday but couldn’t hold it (but yesterday oil spiked and ruined it). Google was a great leading indicator so let’s see if they can break $480.
WTR flowing!
WFMI going up – sign of a program buying pretty much anything.
SNDK – I couldn’t take the pain and sold the June $42.50s for $2.65, now $1.55 but I’m not willing to give up the protection. My calls are the Jan $45s and I’m way ahead so more of a protection issue for me.
I can only guess the dollar broke through 82.50 which would explain the action on International Banks (cheaper to borrow from) and gold and oil falling through but I can’t get a number on it.
CAKE, PNRA, WEN, MCD all moving up. BKC is not…
CROX explaining why not to short it.
RYN zooming too – another intl’ airline (also could play off strong dollar)
CNBC telling you to BUYBUYBUY oil stocks and mentioning hurricanes for the 10th time – “Remember, it only takes one major hurricane to spike prices.”
Darn, now CY flies – I should have triggered that one. $22.50s for .48, half out at .70 with a .20 tstop (but you can watch SPWR to see where to get off). XXX
OSTK flying – another sign that no human can be making these decisions!
OH!!! Jeff Lacker said economy looks good – Well that’s it for the puts folks!
Oil pump not going well so far – down at $64.99
OVEN with another excellent day.
STX another good day.
TM $125s for .85 XXX
NTE at $12.17 XXX for the stock virtual portfolio.
QQQQ – mostly just using as plunge protection, not trying to “win” that positiion
TSO – when in doubt sell half is a rule to live by! Inventories are tomorrow so we could get a run-up into them and a huge rebound if there’s a drawdown. I’m in at $2.52 myself on the $115 puts but my August $110 puts are way ahead so I’m selling 1/2 my total position in $120 puts at $4.20 as overnight protection.
