Fri Sell MSFT Apr puts @38.0
Sell SLB Apr 80 puts @89.5
Worm trades on Microsoft and Schlumberger. What are worm trades? Low risk, low reward trades. Using a fishing analogy, the option premiums are so small, that it is like digging for worms on shore vs. going out on the water for fish.
Sell GILD Apr 87.5 calls @.30 @75.3 hedge
Gilead Sciences down hard on patent news. I sell calls to hedge against short puts.
Thu Sell May SPY put backratio @185.10
Buy SPY May 170 puts
Sell 2x SPY May 165 puts
I sell a put backratio. I tend to do these when volatility increases. It is net bullish with an explosive profit with a drop to the lower strike at expiration.
Wed Sell WFC Apr 44 puts @47.7
Sell HPQ Apr 27 puts @29.5
Sell UAL Apr 38 puts @46.1
Sell ASH Apr 85 puts @95.0
Sell VRX Apr 97.5 puts @141.5 add
Worm trades in Wells Fargo, Hewlett Packard, United Airlines, Ashland mostly on the chart formations. I add to longs in Valeant Pharma.
long ASH BA DIS FDX HON HPQ MSFT TLT UAL VRX
net long AMGN BRKB GILD IWM SPY