Highlights include selling strangles on GLD, new tiny position in HOG, some red ink in UAL.
Fri
Sell IWM Jun 122 calls @111.4. I rebalance my short strangles on the
Russell 2000 etf by selling calls. Stock market is down hard today.
Thu
Sell APC Jun 85 puts @100.6. Rebalance my short strangle to net long
on Anadarko Petroleum.
Sell
UAL May 49 calls @41.9. United Continental down hard on earnings
news. I hedge my short puts by selling some calls.
Wed
Sell AMGN May 125 calls @112.5. Amgen moves lower on earnings. I sell
some calls to hedge my short put position.
Sell
BA May 120 puts @130.2. Boeing higher on earnings. The lower end of
the recent range is 121.
Tue
Sell IWM Jun 95 puts @.28 @113.7. I open a June position in IWM the
Russell 2000 etf.
Sell
IWM May 104 puts @114.7. A bit later I rebalance by selling my fifth
layer of May IWM puts.
Sell
HOG May 65 puts @72.6. Harley Davidson up on earnings. Chart is a
beautiful break out from a base pattern.
Sell
KORS May 82.5 puts @93.6, I rebalance my short strangle to neutral as
Michael Kors keeps moving up.
Sell
BRKB Jun 115 puts @127.3. I open a June position in Berkshire
Hathaway.
Mon
Sell KORS May 77.5 puts @90.7. Rebalance my short strangle in Michael
Kors by selling more puts so I am again net long.
Sell
GILD May 57.5 puts @71.7. Hedge my short calls by selling puts on
Gilead Sciences.
Sell
GLD strangles @124.2 with a bull bias. Sell GLD Jun 111 puts / Sell
GLD Jun 138 calls. Again, a short strangle is a bet on a trading
range. I skew a bit to the bull side.
Position
summary:
long
BA HOG HON HPQ MSFT UAL VRX
net
long AMGN APC ASH DIS GLD IWM UAL
net
neutral GILD SPY
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