Posted on March 31st, 2008 by
Mojo
I’m closing the LVS 85 put calendars for a credit of +2.85 or better. IV is high, so let’s take advantage of that to adjust our trade profitably.
PAYX is continuing to run up and well beyond on our 32.50 puts. Let’s go ahead and close them for .35 or better and lock in that profit. That will protect us from a reversal.
Mojo
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Posted on March 31st, 2008 by
Mojo
I’m closing the GDX 51 put calendar leg for a loss -.10. We are still profitable on this trade and this places the current price close to the center our new break even points.
Man I love these calendars!
Mojo
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Posted on March 31st, 2008 by
Mojo
Our one week IWM short straddle on the Mar quarterlies are doing very well. We originally sold the 70 call and put for a credit of +1.95. I closed the call side for a debit of -.01 and I have put in a trailing stop order (+.10) to close the put side. Right now its at 1.18 so my max close would be around 1.30 giving us a +.64 profit in a week! NICE!
Mojo
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Posted on March 28th, 2008 by
Mojo
I’m rolling my July 52.50 puts to May 52.50 puts for a credit of +1.45. This cuts our delta, cuts our cost basis in half, and reduces our exposure to vega.
I will next put in orders for good fills on May / Apr 50 put calendars.
Mojo
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Posted on March 28th, 2008 by
Mojo
For any of you folks still in Kohls you have a chance today to exit for breakeven. I’m already out for a loss due to me being an emotional, third grader on this trade. I’m too mad at myself to figure it out. Grrrr…..
Mojo
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Posted on March 27th, 2008 by
Mojo
We put on three short straddles yesterday afternoon (ORCL, PAYX, WSM). Paychex and Williams and Sonoma are doing very well. Oracle moved strongly against us in the morning.
Watch the video below to see how we managed the opening to protect ourselves, achieve break even, and create a possibility of profit on Oracle.
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This video shows how to manage a short straddle on Oracle (ORCL) that we put on last night. Its going to gap against us strongly. |
Mojo
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Posted on March 27th, 2008 by
Mojo
In my speculative account I open a bull put spread in Sprint selling the 6s and buying the 5s for a credit of +.25. Unfortunately this was a GTC entry that got filled at a poor price. You can now get .30+.
Also, in speculation I opened my first bull call spread selling the Apr 430s and buying the Apr 410s for a debit of 13.70. I felt like we were at a daily bottom for Google was looking for a short term bounce. If Google expires above 430 these debit spread will be worth +20. My breakeven on this is 423.75. I probably won’t adjust this until we are near this price. Right now Google is sitting at 445.
Remember, keep these speculative trades small!
Mojo
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