Saturday, May 28, 2016


First, happy Memorial Day to all, and thank you for those that have served or are serving in the armed forces. Overall, a profitable week. I almost always want bigger profits when the market goes up so much. I took a loss as AAPL rallied. I sold new strangles on CMG and VRX. Sold puts on COST, CRM.
Here are the trades (c = calls, p = puts, all are third week expiration unless noted, sell means sell-to-open, cover means buy-to-close, number is price per contract):

Mon Buy shares MON 107.775 Bayer makes a $62 billion cash bid for Monsanto. MON gaps higher. I am again short three layers of calls, own one layer of stock, now two after this move.

Sell AAPL Jun 89.5 p 34 rebalance Apple moving higher on news.

Sell SCTY Jun 16 p 25 hedge. SolarCity has drifted steadily higher since I sold the Jun 25 calls. I am hedging turning it into a sold strangle.

Sell TSLA JunW1 195 p 65 rebalance
Sell TLSA JunW1 202.5 p 125
Sell TSLA MayW4 202.5 p 41

Sell CMG strangle @460: 192 gross
Sell CMG Jun 395 p 116
Sell CMG Jun 525 c 77

Sell COST MayW4 132 p 28
Sell TSLA MayW4 235 c 33
Sell CRM Jun 75 p 38 new long

Tue Sell MON Jun 92.5 p 25
Sell MON Jun 100 p 100 Monsanto says $122 per share offer from Bayer is insufficient

Wed Sell MON Jun 105 p 130
Sell AAPL Jun 92 p 23

Thu Sell COST Jun 140 p 31 earnings
Sell TLSA JunW2 200 p 83
Sell AAPL Jun 94 p 40
Cover AAPL Jun 100 c 225 for a 600% loss

Fri Sell TSLA JunW1 245 c 31

Sell VRX strangle: 60 gross
Sell VRX Jun 20 p 32
Sell VRX Jun 40 c 29

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