Saturday, May 07, 2016

Weekly: Tesla mess-la

Another Fine Mess is a Laurel and Hardy movie from 1930. That's kind of the way the week felt, even though I end the week with a modest gain. A lot of my attention was on Telsa's earnings report. I was speculatively long, then reversed to short, then hedged the shorts. Tesla became a mess-la. I was down a bit on TSLA for the week. I also took a loss on Under Armor UA as it moved lower.

Also this week, sold puts in BDX, sold strangles on ATVI, sold more puts on GDX. 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 Sell TSLA MayW1 195 p 46
Sell TSLA MayW1 290 c 20 earnings Wed after close

Tue Sell SPY 218 c 18 rebalance

Wed Sell UA May 45 c 15 rebalance as Under Armor moves lower on news
Sell SPY May 212 c 24 rebalance

Sell MCD May 124 p 30 rebalance
Cover UA May 40 p 125 for a 900% loss

Thu Sell TSLA May 255 c 91 Telsa fizzles after earnings, up a bit after hours, now drifting lower. My speculative call ratio is a loser.
Cover TSLA MayW1 195 p 20 about a 50% profit. I don't like the tape action.

As the day goes on I reverse to speculative short, a rare case of me buying premium: Buy TSLA June put spread 537 gross debit:
Buy TSLA Jun 200 p 803
Sell TSLA Jun 175 p 266

Sell BDX Jun 150 p 55 Becton Dickenson higher on earnings
Sell MON May 96 c 20 rebalance
Sell MON Jun 100 c 38 rebalance

Fri Sell TSLA MayW2 185 p 46 rebalance

Sell ATVI May 34.5 p 15 earnings
Sell ATVI May 39 c 14 Activision flopping so I hedge

Tesla finding support, so I hedge my short position by selling more puts
Sell TSLA May 182.5 p 79

Sell GDX May 22 p 15 add to longs

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