Saturday, December 12, 2015

Pop goes the weasel (TSO)

Tough week for me. I took a 1000% loss on some sold Tesoro Petroleum TSO puts. Other than that, there was a large swath of red ink. Here are the trades: (c = calls, p = puts, sell means sell-to-open, cover means buy-to-close, all options are third week expiration unless noted)

Mon Sell ALK Jan 72.5 p 25
Sell JBLU Jan 23 p 20
Sell NKE Jan 150 c 28
Sell XOM Jan 60 p 19
Sell LUV Jan 43 p 30

Tue Turns into deep doo-doo as LUV declines
Sell LUV Jan 50 c 43
Sell FB Jan 120 c 25
Sell BA JanW2 157.5 c 22
Sell XOM Jan 85 c 27
Sell MCD Jan 125 c 20

Wed Sell ALK Dec 90c 22
Sell BRKB Jan 140 c 45

Thu Sell JBLU Jan 27 c 25
Cover TSO Dec 103 p 335

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