Saturday, October 17, 2015

Weekly: upward bias

Market tilts up. I cover some calls for losses. I sell strangles in AAPL, CMG and IBB. I make money, though when covering for losses, it feels like I am leaving significant money on the table. The bigger picture is the overall profit level. As always, I tend to be a cautious, hedging trader. Low risk, low reward, and hopefully steady profits are what I am mostly looking for, with the occasional big swing for the fences.

Here are the trades (p = puts, c = calls, weeklies have the W suffix, NovW1 for first week in November).
Mon Sell IBB Oct 327.5 c 35 Rebalance in the biotech etf

Tue Another day, another whipsaw. This time it is Disney making a new high then fading.

Cover DIS Oct 107 c 77 about a 500% loss on this leg
Sell IBB strangles:
Sell IBB OctW4 330 c 99 / Sell IBB OctW4 270 p 77

Sell SKX Nov 105 p 130

Sell AAPL strangles:
Sell AAPL Nov 90 p 54 / Sell AAPL Nov 130 c 19

Wed Sell TSO Nov 120 c 25 rebalance in Tesoro

Sell AAPL OctW4 116 c 18 rebalance in Apple

Sell CMG strangles:
Sell CMG Nov 545 p 200 / Nov 885 c 100

Thu Sell NKE Nov 115 p 41 rebalance in Nike

Sell SPY OctW5 189p 29 rebalance

Sell ALK Nov 65 p add to longs

Fri Rally in Nike and Sketchers cost me some money

Cover NKE Oct 129 c 49 about a -15% loss

Sell V Nov 67.5 p 38 add
Sell TSO Nov 85 p 34 rebalance

Cover SKX Oct 45 c 20 (after 3-for-1 split) about breakeven

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