Sell APC May 95 calls @86.5
I rebalance my position in Anadarko Petroleum. With a modest decline, my delta has increased. I am offsetting that by selling some calls. My position is short strangles (short both puts and calls) net long. So I am betting on a trading range, hopefully with an upward bias.
Later in the day, I sell some puts on TSLA Telsa Motors
Sell May 30 puts @44.0, the stock is up on news of better than expected sales and a break even quarter. Telsa is heavily shorted. The chart is supportive, though the range is wide. 33 is the bottom of the breakout channel. The spreads on the options can be wide, so I don't want to have to roll or close the position.
Long BA BRKB IWM LEN LGF PG SPY TSLA WFC
Net long APC KORS