Saturday, March 19, 2016


Oldtimers might remember the cartoon Wacky Races, featuring Dick Dastardly and his dog Muttley. Each cartoon episode, Dick would try to cheat his way to victory, and each time his plot would fail. His tag line was, drats, foiled again. That was my trading week. The continuing rally in SPY and TSLA had me covered sold calls for losses. A drop in CMG caused some April positions to go deep into the red. So I was down a bit for the week, overall about -2.5% for the year while SPY is about flat.

Here are the trades (c = calls, p = puts, weeklies denoted by W suffix, W1 is week1, sell means sell-to-open, cover means buy-to-close).
Mon Cover TSLA Mar 210 c 620 about a 500% loss. Crunch. Telsa gaps higher. I am still short 215 calls and 230 calls, so I am taking my lumps.

Sell HON Apr 97.5 p 32
Sell UNH Apr 110 p 39

Sell FB Apr 92.5 p 27
Sell MCD Apr 110 p 23

Cover TSLA Mar 215 c 415 about a 600% loss. Telsa holds its gains. It moved past my 215 stop level than came back a bit.

Tue Sell TSLA AprW1 255 c 101

Wed Sell MON Apr 80 p 53 rebalance

Sell CMG Apr 550 c 158 rebalance Chipotle tumbles again on news

Thu Rally rolls on and I scramble some more.
Cover SPY Mar 204 c 72 about a 10% loss.
Sell TSLA AprW1 185 p 85

Fri Sell CMG Apr 520 c 200 Chipotle continues lower.
Cover TSLA Mar 230 c 133 about a 300% loss.

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