I have a busy day on tap. I probably won’t make any new entries today.
On monday I exited and entered a few trades.
My SPY hedge is OTM at this point. July 147/151/155. I will start rolling out of this hedge. A 30pt gain on the SP took this hedge out of the money pretty quickly.
Losses:
NTES – the price dropped to 18 and it hit my stop. I lost .05 on 2 units.
Entries:
WEN – I put 2 units on @ .25. 40p Aug/Sept calendar. In retrospect, I don’t know if i should have put this on. There is lots of premium in this, but the with the volatility pumped up prior to earnings unless this underlying goes up, this could be an easy loss. I will keep it tight and won’t add to this position. I think I became a little restless (mistake), but I did see this stock moving up. We will see.
Exits:
IACI – I exited 1 unit for .80. 30% gain, and it bounced off support. This stock is still in a down trend. If it breaks below 32.90, I don’t see support until 29. I am holding on to 2 units at this time.
Watching:
PRU
NBR
LNG
AMT
Watch the ShadowTrader
7/17 – Expiration Week
Looking over the upcoming week.