New month with some very nice possibilities.
Shadow Trader Video Weekly. Good preview to the week
I like the uncertainties in the market. I don’t think the bulls are ready to give up, and I think the bears have reasons to growl. I look forward to the upcoming chop and volatility.
There are a number of trades I like going into the week.
DTV interesting opportunity to enter to the bull side. I will be looking for a pull back to add to the position.
CREE as Vol adjusts back to normal levels there will continue to be the ability to unwind the trade. I sold 2- Jan/Dec 30c spreads for .30. I have also sold 37spreads of Jan/Dec 25p for .28 and .29. Very nice. This has been a very satisfying trade. Currently I am completely out of the 22.5p and mostly 25p calendars (1 Unit). These worked out well. I am down to 30p calendars (3 units).
FITB – was a total loss. Exited total. Good news, I am going to loose from time to time. The loss was only on 1 unit @.10.
IACI made it’s break below support 33.90. It looks like it is on it’s way down.
MFE is interesting @ .20. Sept/Aug 25p. I have 1 unit.
CLF may offer the opportunity to add to the position, on a pull back. Currently have 1 unit.
BWLD may have an interesting double bottom.
AMT bullish play on a pullback to the trendline. I entered 2 units of a Sept 42.5-47.5c for 2.60. On an up move I will exit the remainder of my jan 45-50c trade. I like this new trade because I have more Delta, Gamma, and near 0 theta. I am seeing a consolidation at these levels 44.72. We will see, but the trade is made. I have tight stops on this trade. I will look at it again as it approaches it’s uptrend line 43.80. But I will not ride it to that point. Also, toward the end of the day the AMT Bulls were defending the 44.72 level with 234 lots. By making this bullish adjustment I increased my delta to 43/spread from 20.
HPQ – I would enjoy hedging this trade. It seems incredibly bullish, even after two announced acquisitions today.
IACI has broken below it’s previous support. I am looking for a larger slide.