MOS-tweeted last week that on the downside I was looking for 67s for the strangle. Well it came yesterday and the strangle was up about 12%. I was thinking the market was going down, but couldn’t verify with the charts since I was busy with work most of the day. When I next looked the thing was moving off its lows and my profits were shrinking. I’m still short biased on the markets in general and think we’ll head back down again, at least I hope so. For this strangle I’m still looking at 67s on the downside or 77/78 on the upside, just need it to happen before the end of the month (OCT expiry).
JPM-picked up NOV 35 straddle on this today before lunch. Was looking at C, MS, LVS, and ALXN for strangle/straddle possibilities but this was the only one that met my criteria (neutral delta, ATM, tight spreads). Price targets for this is either 32 on the downside or 38 on the upside.
VIT- grabbed some calls on a tip from @markflowchatter and @michiganwar. Could be some good run up on the rumor/news, we’ll see if it pans out tomorrow. Chart looks like it might have hit a bottom as well—but so does everything else right? SEP 12.5 calls at .30.
Follow the rules: Cut losses quickly; Don't overtrade; Take profits/sell into strength; Don't chase, watch for the pullback; Have a plan and stick to it
View my other posts/give me some advice at http://part-timepennystocktrader.blogspot.com/. Follow me on twitter @BNGESG.
JPM-picked up NOV 35 straddle on this today before lunch. Was looking at C, MS, LVS, and ALXN for strangle/straddle possibilities but this was the only one that met my criteria (neutral delta, ATM, tight spreads). Price targets for this is either 32 on the downside or 38 on the upside.
VIT- grabbed some calls on a tip from @markflowchatter and @michiganwar. Could be some good run up on the rumor/news, we’ll see if it pans out tomorrow. Chart looks like it might have hit a bottom as well—but so does everything else right? SEP 12.5 calls at .30.
Follow the rules: Cut losses quickly; Don't overtrade; Take profits/sell into strength; Don't chase, watch for the pullback; Have a plan and stick to it
View my other posts/give me some advice at http://part-timepennystocktrader.blogspot.com/. Follow me on twitter @BNGESG.
