Monday 1.7 – sell the rally

Quick update, and sell off into a counter trend rally


This is a quick post before skiing.
Sold CHL Jun 90-115c into the rally for 5.80.
Sold DLB Mar 45/55c for 4.
Nice but small profits into a counter trend rally.
I still have exposure to the upside in case of rally in the form of bullish calendars.
DSL is working beautifully to the downside. Off 10% on the day.
PPG broke support for my 65-60p spread, looking to exit on another break
FNM – initiated short @ 33.5 with Mar 30/22.5p
COH – Mar 35/27.5 is working well, now in a positive theta decay situation
AIG – just about earning a double.
QQQQ – Mar 48/53c for 1.99 @ 47.95 and 1.91 @ 47.55. There was a double bottom during the day. I am looking for a short term bounce

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