Saturday, October 03, 2015

Weekly: Batman market Wham Pow

What comes to mind is the old Batman TV shows featuring Adam West. In the fight scenes, there are big captions: WHAM POW. Here is a short youtube link Batman tells Penguin "surrender that giant pie" link

In particular, Friday, saw over a 5 point swing from low to high on SPY. It looked to me like a massive short squeeze. Highlights of this week include my biggest long premium winner of the year in terms of dollar amounts. 

The IBB Oct 325 puts were sold to close for a 60% profit. The biotech etf continues to have wild swings. I did okay overall, but felt like I left a lot of money on the table. The realistic view is that "half a loaf" is what my cautious strategies tend to get. Can't expect big winners, if I am usually hedging. I sold a strangle on TSLA.

Here are the trades. I am changing the format to start with Monday end with Friday. Not a big deal but it may read a little better. (c = calls, p = puts, sell means sell-to-open, weeklies indicated by w suffix, all other options are third week expiration, numbers are prices in dollars per contract)

Mon Sell NKE Oct 129 c 49
Cover SPY OctW1 185 p 81 About a 25% profit
Sell SKX Oct 150 c 75

Cover BWLD Oct 175 p 65 About a 27% profit
Cover PANW Oct 155 p 85 About a 16% profit

Tue Sell IBB OctW2 270 p 280
Sell IBB OctW1 270 p 85
Sell IWM Oct 115 c 21

Sell GPRO Oct 38 c 19
Cover IWM Oct 107 p 222 About a 200% loss

Sell IBB Oct 342.5 c 57
Sell IBB OctW2 320 c 103

Cover SPY OctW2 185 p 265 About a 350% loss
Sell V Oct 72.5 c 26

Wed Sell-to-close IBB Oct 325 p @2462 about a 60% gain, biggest long premium winner of the year.

Sell SPY Oct 177 p 56
Sell IBB Oct 250 p 110

Sell SKX Oct 118 p 100
Sell NKE Oct 112 p 54

Sell IBB OctW1 320 c 56
Sell IBB OctW1 315 c 55
Sell IBB Oct 335 c 80

Thu Sell IBB Oct 240 p 63

Fri Sell IBB OctW2 280 p 153
Sell IBB Oct 270 p 170

Sell SPY Oct 181 p 42
Cover (buy-to-close) IBB 315 c 40 about a 20% gain

Sell TSLA Oct 205 p 60
Sell TSLA Oct 285 c 27

Sell IBB OctW2 285 p 90
Sell NKE Nov 110 p 72
Sell SPY Oct 183.5 p 47

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