Aye Carumba. Yesterday’s Fed announcement reversal. Up 18pts on the S$P, today down hard 26pts @ 9:45am, Down 41 at the close. I would have been thinking about getting long after yesterday’s performance. Good thing I don’t usually trade directionally. But Geez, I seem to be working harder than usual to make these adjustments. I felt so very fortunate to NOT loose money today, and even more fortunate to increase my accts by 1% on the day. Hedging properly was (as always) the key for me.
This morning out my bedroom window @ 10:30.
I have been listening to Brad Agunis (sp?), TOS’s new Shadow Trader this morning. He is doing a good job. It makes me appreciate just being a trader and following what I am following. Then going on a mid-morning run.
Today has been outstanding for my portfolio. I have been able to lighten up on some positions, and strategically add to others:
PGR- Exited 2 units Jan/Feb 20p @ .15, I have 1 remaining unit.
UNM- Earnings – Sold 1 unit of Nov/Dec 25p for .45 (200% gain). Sold 2 units of Dec/Jan 22.5 for .17. I bought the Dec/Jan as a hedge for .15, so I lost a few cents on the commission, but overall a nice little profit on the position.
LOW – I added to this position today. Added 2 units of 27.5p calendar. I can put on 2 more units at some point to be fully allocated. I still like this trade alot!
In the afternoon I sold 5 unit of this trade for .25. I made a very slight profit and I have taken some risk off, but I have been able to buy these cheap over the past few days and expect to re-up at a lower entry price.
NFLX – Sold last 2 units Nov/Dec 25c @ .77. Originally purchased this for .32. The underlying was strong in today’s week market and it made new highs, so I don’t want to hold onto this Call Calendar anylonger. And I am pleased with a 135% gainer. I played this position very well from the start.
UNG – I just rose my put protection to the Nov 43p, and this is good! I have now locked in a nice profit as Nat Gas approaches resistance. I would still like to move up the covered call portion of this Collar. I kinda screwed up the moving of the call. Now I am hoping resistance does indeed provide resistance.
VRSN- Sold 2 units of Nov/Dec 35p calendar for .40. Sold 1 unit of 32.5p calendar for .55. I was happy to get out of this with a .02 after commission profit on the 35’s, Made .25 on the 32.5’s. Somedays it is more important to say, how much did you NOT lose. The 32.50p calendar is performed very well. I sold this when the underlying broke below support @ 32.70. The next support is 31.27.
UTHR – I was completely out of this going into earnings. The underlying moved up more than 20 pts. All the calendars moved out and made money if a person bought these cheap.
ADM – 1 unit of Dec/Jan 35p for. 25. This is just a tester play. I wasn’t able to back the order up.
FIG – 1 unit of 15p calendar for .05. Lots of talk about problems. I am trying to put some below market offers which may get filled.
Other Earnings affecting my portfolio:
EK – Absolutely PERFECT. The underlying is still sitting nicely between my strikes.
NVLS is ideally positioned
USB – Perfectly positioned in a funnel toward Dec @ 32.5