Weekly: Oil crush

I hope all had a good Thanksgiving. Those long oil felt like turkeys. The sharp move down in oil hurt me. My position in Anadarko Petroleum moves deep into the red.


Fri Oil spikes lower on OPEC news. My short puts in APC get crushed. I sell calls in an effort to do damage control, but the horse is long gone from the barn.
Sell APC Dec 90 p @80.3
Sell APC Jan 97.5 p
I am short APC Dec 75 puts and APC Jan 77.5 puts. Yikes!


Tue I continue to put capital to work
Sell BBY Jan 32 p @38.5
Sell MMM Jan 145 p @158.1

Sell TLT Dec 118 p @120.9
Sell GLD Dec 122 c @115.2

Sell FDX strangles: FDX Jan 155 p @175.2
Sell FDX Jan 195 c

Sell WHR strangles: WHR Jan 160 p @184.7
Sell WHR Jan 210 c


Mon Option expiration frees up a lot of capital, and I use some of it. Most of these are adding to long positions.

Sell AMGN Dec 150 p @164.2
Sell VRX Dec 110 p @142.4

Sell APC Jan 77.5 p @92.4
Sell BRKB Jan 135 p @147.1

Sell IWM strangles @117.8: Jan 101 p / Jan 127 c

Position Summary:
long AMGN BBY BRKB DIS HON
long JWN MMM NKE UNH UNP VRX WHR YHOO
net long APC ASH IWM TLT WHR
net neutral FDX GLD SPY