RIMM pulling back a bit, we’ll see if it sticks.
ICE may break out hard over $160. GOOG looking to put our Sept $550s in the money! This is a great time to protect with some Aug $530 puts, now $11.15 into earnings as we just got an $8 gift so think of it as a very cheap protection on longer calls (and it beats capping yourself by selling cover calls on earnings!). XXX
XLE gathering steam. Very strange that transports are thrilled with this but we just have to stop worrying and join this party!
HAS taking off – that was a very fun trade!
BA – not buying out my caller with a $1.20 premium and 10 days left – that would be buying into the initial excitement. The premium roll for the Augs will be there for a long time and I’m not even sure I want to be selling those as I may want to let BA run around naked for a little while.
FSLR really going for it!
BA calming down as expected, let’s see what happens at $100.
SNDK with a huge pop. I am so please to be naked there – I am almost never…
OSTK catching bids – now that’s a rally!
M fizzing out. Taking $1.90 for the $40s against my leaps. XXX
KO with a nice move today. Don’t forget to have a tight stop discipline with July contracts, including the ones you sold. If you don’t like a position enough to roll it two weeks ahead of expiration then you should be looking to get out of it, not ride it out for two weeks as your choices diminish by 10% a day from here on out.
SLB with another strange drop. Someone sells into every rally with these guys. I have a feeling earnings may disappoint.
NVDA $45s at .93 as a mo play, stop at .85. 1/2 out if they have trouble breaking $45. XXX
IOC – Buy Aug $25 for $3.55, sell the July $22.50 for $3.08 / Buy the Aug $22.50 puts for $3.12, sell the July $25 puts for $3.55. You spend 0 have $2.50 max loss but your longer calls and puts will hold some value and your caller and putter eat $4 in premium regardless. This play is best if it flatlines into expiration. Right now, after morning dump, best to buy the calls, sell the puts and wait a bit to sell the calls and buy the puts. XXX
Rally feels a little out of gas here – be careful…
I’m seeing a lot of banks and brokers and builders turning down – that’s not good. FNM crash – something is up in housing/mortage. FAF oblivious so I lke the Aug $50 puts for $1.15 XXX
FSLR doesn’t care what the rest of the market is doing!
VLO $75 puts at .70 are a fun mo play but very risky.
IOC – if they keep having trouble at $25, this might be the best we do on the other half of that trade.
XOM – double as in Double down, no I wouldn’t throw money into Julys right now. Double as in fun bet that may double if Wednesday’s oil inventory is a bust as I predict it will be – sure. XOM is actually way behind the rest of the sector lately and would have to hit $95 to catch up with OIH or VLO’s growth over the past few months. The Aug $90s for $1.27 and the Aug $85 puts for $1.52 make a nice spread to work our way into. XXX
On the whole though, TASR is the place to be today!
Oh – TASR has wireless guns now. We are 1 step closer to Star Trek Phasers. Wide-beam stunners! This is soooo great! Now they are arming robots with IRBT. http://biz.yahoo.com/pz/070709/122543.html
I wrote an article once about how this will be one of the future’s largest companies and this week’s news shows they are executing very nicely. Good time to roll into the Jan $15s at $2.70 and sel the Aug $15s for $1.45 XXX
TASR – of course not selling right away. Maybe 1/2 when mo stops. XXX
Dow, Nas, S&P all looking like they might make lower intraday highs. Critical movement now that Europe is closing. Oil down at $72.33, Europe closed up slightly on big late pullbacks.
TASR – this is one of my retirement stocks and the very short story is that Stinger was a bust, they have all the patents and it won’t be long now before police departments start getting sued for NOT tasering people. Imagine someone on Star Trek whipping out a gun and shooting someone – it just can’t happen. Once you develop non-leathal solutions like this it is simply barbaric to shoot people. They are still years away fom making a societal change but I see nothing but growth ahead for these guys. The only reason they ever traded down was growing pains as they courts figured out how to treat them but now that defense attornies have figured out that all you have to do is get the victim on the stand and say “would you rather have been shot there?” it has been very smooth sailing for them.
Damn, oil patch zooming up on EU close.
Someone hit the buy button on a big program. QQQQ $48s have very little premium at $1.21 as a cover if you’re too short, look for AAPL to break up and take the Qs with it but I’m not putting much stock in a pre-earnings rally so this would just be a mo cover if we cross 2,670.
LOL – ah there’s a study showing homes are about 40% overpriced in Maimi and LA and 33% in DC and Vegas in order to get back in line with historic norms in relation to affordability.
Oil (the commodity) is acting like there may be a problem with Wednesday’s inventories. My theory on last week is one of those tankers dumped cargo and, if that’s what happened, then traders would have been keeping an eye on that since and they would know well in advance if it happens again.
HPQ (8/16) reacted to LXK’s warnings and that is just silly. The Nov $47.50s for $2 should hold their value well through earnings and we can sell the July $45s, now $1.05 on any weakness. XXX
TASR making a break for $16.
NVDA going for $45.
I’m with Happy. Let’s say this trend is real. Then let’s say earnings are strong. At this pace, we should pick up another 400 points easily by the end of the month on good earnings numbers. That’s Dow 14,000 in July! If that premise doesn’t make sense to you, then a 50-point gain for no particular reason shouldn’t either… Like I said, we have to go with the flow but don’t let yourself forget how insane this is. The p/e of the nasdaq now exceeds the FXI. I don’t know if that means the FXI is underpriced or the Nasdaq is underpriced but if we are going up that much, then I don’t need to be in a big hurry.
Rolled 100 of DIA Aug $136 puts to Aug $137 puts, now properly weighted. Not brave enough to roll the Jul $135 puts I sold but will tomorrow if we take off as I can sell another .70 in premium in the $137 puts which would pay for my rolls.
CMI – when you’re up $4 or $5 on a long position and you can sell the July $120s for $3, it’s worth it for the overnight protection in the least. That guy’s gotta gain another 5% in 10 days to get even and his call was worth .25 yesterday – that is the best way you can profit from selling into the initial excitement. XXX
