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Top Trades for Fri, 28 Apr 2017 10:21 – IMAX

IMAX/Rustle – Me too! Better buy it before Guardians comes out this weekend.

We like IMAX because they drop off when the box office slows, which has nothing at all to do with the company, which is adding more and more screens every day.  It was one of our original OOP stock picks but then we got called away and I was very upset in Oct that I missed $28 and then failed to buy at $30 so now I don't want to be greedy.  

  • In the OOP, let's sell 5 IMAX Dec $29 puts for $2 ($1,000) and see how they go before adding a bull call spread.  
  • In the LTP, let's sell 15 IMAX Dec $29 puts for $2 ($3,000) and see how they go before adding a bull call spread.  

In both cases, they are amounts we would be happy to double down if we get a better price (ie. IMAX goes lower).  

Also, let's not forget in the OOP (see yesterday's post) that we bought back the USO July $12 calls (still 0.11).

As a new trade in the OOP, let's buy 5 AMZN May $900 puts for $4.10 ($2,500)

In the OOP, let's also buy back the SQQQ Sept $50 calls at 0.90 – do not pay more!  

In the OOP, let's buy back the SGYP Jan $7 calls at 0.40

In the OOP, let's buy back the TZA July $19 calls at 0.80


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