So far this morning has been a good one for me. Even though GE says that their lease losses are greater than expected and Frontier Airlines files Chapter 11. The markets are off a bit on Friday morning. It is interesting to be certain. I has given me the opportunity to unload some positions, and balance my portfolio.
The snow is still great up here. I plan on getting out on the hill today and ski some POW.
Trades of the day:
MRVL – sold 1 of 5 remaining units for .30. I am working the remaining 4 orders but no luck yet.
CTXS – exited all 8 of my positions for a nice 50% profit. I put these on Monday and Tuesday. I am happy to be out at .44.
As usual HON is pissing my off. Go down with GE.
FAST- I am happy to have made the adjustment which guaranteed profit in the trade. Whew!
POZN – Exited all of my original 10p calendar for .35. Nice 100% profit.
IWM – I am entering a slightly bullish 3 month calendar May/Aug 71c for 2.11 . I have 5 units of this trade. I may fully allocate with a different time frame, certainly at different pricing.
IWM Daily with breakevens on the initial 71c calendar
So far today is offering me 1.5% upside on the the accounts. Come on baby. If HON drops a buck it will be a perfect day!
The day was even better than I imagined. I went to work and was greeted by huge amounts of snow. 12-15″ of snow everywhere. I skied 22 runs from 10-1:30. Including some over-the-head faceshots on Peak 7. It was so good.
While out I was skiing with a friend of mine Ken B. We had a blast. Talking about trading, and skiing hard, while laughing the entire time.
During the course of the day I was getting filled on an assortment of trades.
IWM – I continued to get filled on the 71c calendar between 2.11 and 2.04 for the 3 month bullish calendar.
MRVL – I am out of 7 of my 10p calendar for .32. Very nice 100% profit.
GE – bought 3 units of the diagonal Sept 25c and selling the June 32.5c against it for 6.30 and 6.20. This offers a very nice theta decay trade.
The net effect of today really flipped my Deltas around. I am now 604 POSITIVE deltas and 365 positive Thetas. So basically I am now in a bullish orientation going into the weekend. Which is where I want to be at this 1335 S&P level. The accts grew 1.2% on the day. What a great week. Down 2.4% last week, up 7+% this week.
I am in an interesting place with my JPM and HON trades.
Really good position with UST, FAST, AIG, DTV, COF, MFE, and KO.
The GE down move on the market has led to great opportunity to adjust!