Despite a strong Friday, stock market was down for the week. Gold was down hard and bonds had an up week. I rolled some puts on DIS down and out for a big percentage loss. I also sold some calls when the market was down, so not a very good week for me. My recent calendar spreads for gold (net long) and bonds (net short) have been going against me. Here are the trades:
Fri Sell ASH Nov 80 puts @102 .45. I open a November position in Ashland.
Thu Again, my intra day and short term timing is off as the market rallies off the lows.
Cover DIS Oct 87.5 puts @86.5. The loss on these short Disney puts is about 230% basis the premium collected. I roll down and out a few minutes later by selling the Nov 75 puts @86.2, but that premium is tiny compared to the loss. With the overall stock market acting so squirrelly, I am taking my loss DIS crosses the strike price of 87.5. This seems like a time to be safe, not extending chances. Just a month earlier, I felt a stronger bullish bias.
Sell IBB Oct 290 calls @268. I hedge my short puts on this biotech etf by selling calls.
Sell APC Oct 120 calls @97.5. Hedge my short puts in Anadarko by selling calls.
Wed Lots of red ink for me today. I add to longs as the market declines mid-day, prices are approximate. By the end of the day, the broad market is much lower, so not the best timing.
Sell APC Nov 82.5 puts @101, Anadarko Petroleum
Sell FDX Oct 170 calls @159, Federal Express
Sell FDX Nov 140 puts @159, Federal Express
Sell VRX Nov 95 puts @129, Valeant Pharma
long ASH BRKB HON JWN MMM MRK MSFT NKE WFC
net long AMGN APC BRKB GLD IWM FDX SLB
net short SPY TLT VRX YHOO
net neutral DIS