I have been a busy bee since my last post. On Thursday and Friday I attended a Profit Strategies AIM seminar. I met some nice people, and although I didn’t learn anything new, I did remember a few strategies which I haven’t been using. About a year ago I attended a seminar which gave me some very good position sizing information. I am now in a very good “space’ to begin incorporating some of these strategies.
During the event I was monitoring a few positions, and made some trade adjustments.
MFE – Exited half of my May/June 35p calendars for .90, today I exited another 1 unit for 1.00.
AIG – was hammered on friday, I exited my short May 46c for .05. Now I am long 2 units of the June 46c. I am playing a double bottom bounce. I am also very grateful to have taken off 6 of my 8 units of my calendar spreads for nice profits between .90 and 1.23 last week.
UST – I have exited half of my short May 55c for .10. I am holding the July 55c. If we get a move upward, hip hip horray. IF not, I have some profit build into the trade, and UST is holding within it’s trend channel 51.5 to 58.5
JPM – On thursday, I exited the remaining 3 units of May/June 42.5p calendar for .73. The underlying price = 45.45. Today the stock is trading @ 47.07. I made a well timed trade!
Over the weekend, I started looking for a few trade setups that may work.
This is what I have put on this morning:
BBD – Long 2 units of Sept 25c for 1.55 and 1.45. I like this on a light volume pullback the past few days.
This offers me a 3.4 return:risk ratio for my target price and my stop loss.
AFL – as per my plan over the weekend, I am now long of June 65/70c spread for 2.05 and 2.00. This offers me a 3.69 return:risk ratio, and a very nice short timeframe, June 4th
HR – Healthcare realty trust entered 2 units @ 27.52. May 15th, this stock goes ex-dividend with a very nice $.385 quarterly dividend. But better yet, it is a very nice trade setup, by June 4th.
Healthcare Realty Trust is a real estate investment trust that integrates owning, managing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States.
BJS – Everybody needs a good BJs, I picked up a unit of the Jul 32.5c for .75, with a time horizon of June 5th. It offers a 8.9 reward:risk with this option strategy, by June 5th.
IWM – I added 1 unit to my 71c June/Aug Calendar for 1.23 @ 72.71. I like the overhead resistance and the topping tail Created @ 11am.
TXN – I picked off a below market order that needed to get filled, added 5 units to the trade. June/July 30p for .30, it was marking at .32. At this time there are no apparent catalysts, as earnings was last month, and the fills at that price have ceased. I have beefed up to a 3.5% allocation across 6 accts, and have added to the “once rolled” position for a average price of .24. Very nice as we trend in a tight range. I am leaving some room to add at future prices.
TXN Daily with Breakevens and Expiration
IMA – I waited all day on this one!! Got short. bought 1 unit of Aug 30/22.5p for 1.45. On a capitulation to the upside @ 34.98. This was relatively weak all day long. This trade offers a 8:1 reward to risk.
I have traded well today. Found a plan, and took the positions. The only mistake in retrospect was to go at full directional allocation with AFL (1% of acct). But other than that, I made good entries in everything else.
I am up 3.5% on the day, however I am not holding by breath. My P/L has been taking some mighty swings on an intraday basis. But overall, I am very pleased. UST moved up at the end of the day. Oh, joy it would be to see that rally.
I attended a course, and put some of the information to good use