Saturday, April 23, 2016

Weekly: small fish and oil

The news from last weekend was that oil producing countries could not agree on any production cuts. On Monday, the initial reaction was a sharp down gap in oil and oil stocks. Then buyers came in large. To me, the up day on bad news may mean the bottom is in for oil and oil stocks. I took some small long positions in XLE and XOP and then added to them. 
It was a busy week for earnings news. I mostly went after a lot of small fish. I sold many low premium out of the money puts on stocks with positive earnings news. Elsewhere, TSLA continued to make me money as it continued in its tight range and six layers of sold options came in safe. Mostly small fish, but enough sardines can make a nice mea1.

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, number is price per contract).

Mon Sell BRKB Jun 130 p 55
Sell XLE Jun 55 p 33 news
Sell HAS May 77.5 p 15 earnings

Sell TSLA strangle 108 gross:
Sell TSLA AprW5 222.5 p 59
Sell TSLA AprW5 285 c 49

Tue Sell UNH May 120 p 42 earnings
Sell MON May 82.5 p 45 rebalance
Sell XOP Jun 27 p 22

Sell TSLA AprW5 272.5 c 60 rebalance
Sell TSLA AprW4 260 c 38

Wed Sell UNH May 125 p 51 add
Sell ISRG May 550 p 90 earnings

Sell SPY May 199 p 49 rebalance
Sell TSLA AprW4 240 p 46 rebalance

Sell JNJ May 108 p 23 add
Sell XLE May 60 p 18 add
Sell XOP May 30 p 18 add

Thu Sell YUM May 75 p 20 earnings
Sell UA May 40 p 15 earnings
Sell CTXS May 77.5 p 25 earnings

Fri Sell SKX May 27.5 p 15 earnings
Sell MCD May 132 c 29 earnings

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