Tuesday was a snoozer. I traded out of 1 position for a little profit, but other than that…ZZZzzzzzzzzzzzzzzzzz. Wednesday started with an opening gap to the upside. The gap took it to the down trend line. I may wade in with some put spreads on the indicies. We will see.
The Movie: Federal Reserve part 5 of 5 Read the book Spychips. Protection from “Database You” corruption is necessary.
ACF- I exited the remainder of the 15p calendar for .25. You gotta love it when your hedge provides a 200% return.
TIF – I exited the 40p calendar for .20. A nice 2 day double.
RHT – 20p calendar sold for .20. A double on 1 unit. Very nice. I wasn’t able to pick up up more so I just cleared my position for a nice little profit.
CYGX- Sold 1000 shares for .31. This was a fun little trade. I bought @ .24 and sold them into the retracement back to the down trend line. It all adds up.
IWM – a Discretionary short entry based on the downtrend line, 200day MA, previous high, and between 50% and 61.8% retracement lines. Sept 83-75p for 3.05 @ 79.60, and 3.00 @ 79.69. It is theta positive, with 50 delta and 2.5 gamma.
PDCO -earnings play. 2 units of the Sept/Oct 40p for .12. At the current price there is a 2:1 R/R ratio, However, at the expiration strike price there is a 7:1 reward to risk. I would like to pick up some 35p calendars to protect to the downside.