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.
April 11th – GE falls and goes BOOM!
The GE down move on the market has led to great opportunity to adjust!