I
sold a bunch of calls on Monday's dip. Some came back to bite me,
others did well. I took a loss on some short GLD calls. Resistance
held by the end of the week, but I took my 100% loss (basis option
premium) instead of riding it out. There were a lot of big movers,
such as MDBX, BBY, ICPT, but for the most part those rabbits are too
fast for this tiger. I did take a small position in VRX and AMBA. VRX
came in safe, and AMBA is working well for me so far. I'll post a
monthly recap tomorrow.
net
neutral AMBA ASH BA GS IWM KORS TLT XOP
net
long BRKB GLD OXY SPY XRT
long
AMGN DAL IYR LGF MRK PG TM WFC
Trades:
1/17/14
Fri
sell TLT Feb 102 puts @.32 @105.2
1/16/14
Thu
sell ASH Feb 125 calls @99.8
sell GS Feb 190 calls @177.1
sell BRKB Mar 125 calls @.33 @115.2
1/15/14
Wed
sell AMBA Feb 42 calls @32.7
sell BRKB Feb 110 puts @115.6
sell PG Feb 72.5 puts @.17 @80.7
sell TM Feb 110 puts @.52 @119.6
==
1/13/14
Mon
Sell MRK Feb 48 puts @51.7
sell XOP Feb 71 calls @65.2
sell XRT Feb 89 calls @84.0
cover short GLD Jan 122 calls @121.0
sell UNH Feb 82.5 calls @74.3
sell SPY backratio: buy SPY 169 puts, sell 2x SPY 166 puts
@182.7
sell OXY Feb 105 calls @92.0
sell KORS Feb 90 calls @77.2
I
cover the short Jan calls for gold at a big loss. I hedge my short
puts on many other stocks by selling calls, coverting the positions
to short strangles. I sell SPY put ratios as a further hedge.
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