Stock
market has a nice up week, and my goes along for the ride, though my
gains are modest. Earnings demanded some of my attention. YUM JPM HON
are some of my stocks that reported earnings. Some new trades
include: new long position in EBAY, renewed long in FB, selling
strangles on NFLX, and more strangles sold on AMBA, betting on a
trading range.
I am
assigned on some SKX Jul 120 calls. I bought two half-positions of
SKX stock to meet the assignment. On HON I rolled out and up to avoid
assignment. On JPM I covered the sold calls the day before
expiration. I some other rebalancing trades. DIS did not get to the
strike and readjust by doing an over write into August.
Here
are the trades: (p = put, c = calls, sell means sell-to-open, all are
third week expiration unless noted)
Fri
Roll HON calls up and out @105.4:
Cover
HON Jul 105 c / Sell Aug 110 c
Honeywell
up on earnings news. I have a complicated position that includes half
a position in shares. Rather than buy another half and look to
assignment, I buy back the Jul 105 calls for a 5% profit, and roll up
and out and sell some August 110 calls.
Sell
DIS Aug 125 c @118.3 I sell another layer of calls on Disney. I have
a ocmplicated position that includes half a unit of shares. I am over
writing 2x units of August 125 calls, for a net long position.
Sell
FB Aug 82.5 p @95.0 I open an August position in Facebook.
Thu
Cover (buy to close) JPM Jul 70 c @69.7 JP Morgan Chase is
uncomfortably close to my strike price, so I decide to close these
for about a 35% profit (basis premium collected). I prefer not to
dance with JPM on expiration Friday.
Sell
NFLX strangles / Aug 95 p / Aug 125 c @109.0 gross
Netflix
reacts well to earnings. I sell August strangles, which is a bet on a
trading range. Later in the day I rebalance by selling Aug 97.14 p
@114.2 NFLX up 5 full points from my initial position.
Sell
EBAY Aug 60 p @65.7 New long position in Ebay, as it moves higher on
earnings.
Wed
Sell AMBA Aug strangles: Aug 85 p / 150 c @110.6 gross
Ambarella
moving up again. I sell some August strangles with a slight bullish
skew. Earnings are in September, so no earnings risk.
Sell
BRKB Aug 135 p @141.6 I open an August position in Berkshire.
Sell
SKX Aug 100 p @120.8 Rebalance again in Sketchers. Again, it's me
buying high, selling low, making it up in volume (half kidding
sarcasm here folks :). The intra day timing leaves much to be
desired. Intermediate term, I've mostly been on the right side of
SKX.
Tue
Sell SKX Aug 135 c @118.8 Rebalance in Sketchers. Looks like I step
in a pile of poo on Monday with my buy. I am doing damage control.
Right now, it looks like Monday's spike high of 122 was short
covering, taking out of stop loss orders and now gravity is taking
effect. My position has become a complicated net long, with sold
strangles, and owning shares. Despite my seemingly poor timing on
entry's, as of now, SKX is one of my big winner trading stocks for
2015.
Mon
Buy half position SKX @120.62 now have a full position in case of
assignment against sold Jul 120 calls.
Buy
half position DIS @108.04 to hedge against sold Jul 120 calls. Both
DIS and SKX move lower after I get filled. Boo hiss.
Sell
IWM JulW4 120 p @125.4 Rebalance in the Russell 2000 etf by selling a
layer of weeklies.
Sell
ULTA Aug 150 p @165.1 Add to longs in Ulta Beauty as the move up from
a breakout continues.
Cover
(buy to close) JPM Jul 69.5 c @67.8 With earnings due out before
expiration, I take a 20% loss on this layer of sold calls.
Position
Summary:
long
BRKB EBAY FB NKE ULTA WBA
net
long DIS HON SKX UNH
net
neutral AMBA IBB JPM MRK SKX SPY
net
short IWM NFLX
expired
DATA DE EL MRK YUM UNH
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