July 18th – Expiration Friday and a laugh

Trade has been good. Exceptionally good in fact. Up about 32% on the month.


I was out of the office yesterday, and put on some paper profits. “SELL ALREADY” I would like actual profits please. I look forward to peeling out of some of my positions at some point today. My portfolio P/L was banging around in a big way yesterday. Whew. Big Swings… and I was in front of my computer for less than 90 minutes. When all was said and done, it was up 3.5% on the day, today it has been bouncing between 1 – 4% up. Very nice. The best part about yesterday’s increase was that it was spent thursday at WaterWorld in Denver with the family
Before I go any farther in this post, this is a good use of 8 minutes.
This was brought to my attention by Tim Knight of The Slope of Hope.
Daily Show. Frickin awesome.. And timely.

I am probably going to call it a short trading day today, as it is Option Expiration. I have bunches of “behind the net” orders on. If anything gets filled it will be a gift, and that is good by me. I’m going on a bike ride, then play a round of golf this afternoon. Temps expected to be 74* in the mountains. Perfect.
Trades: Slow trade, but good.
C – recap of this trade. I owned the July/Sept C 20c calendar for .60. The stock tanked down to 14, where I bought back my short July 20c for .01. I have been enjoying this rally. Yesterday I sold some Sept 20c for 1.05, and sold 1/4 position of the Aug 17.5c for 1.05. I have left the rest of the Sept 20c unhedged. Today I sold another 1/4 position of 20c for .80, leaving half the position unhedged. On one more leg up I will sell another 1/4 Aug 20p position. This will lock up more profit, and offer the opportunity for more if the stock stays below 21.50 from now through Aug 15th.
GLW – sold Aug 20/25/30 butterfly for 1.15. I messed up this entry the other day, and feel fortunately to exit for a small profit.
POT – sold July 210/200/190p butterfly for 1.75 @ 210.51. It didn’t go down as much as I expected, so I am please with a small 30% profit. Very nice.
KEY – Exited my 10p calendar for .16. Nice little profit here. .11 on 100 spreads.
I would enjoy taking some profits in calendars of FNM, USB, CAG, AMKR and TE. And exiting VCLK for a scratch. But there is not much action in the back months this morning.

Leave a Reply

Your email address will not be published.