Friday, August 19, 2016


I am up just a tiny bit for the week. I take a flyer on new positions, selling strangles on two hot stocks: ACIA and TWLO. I took losses on some sold calls on AAPL and BRKB. As almost always, I could have done better, could have done worse. I am looking to reduce risk going into September, because it can be a volatile month. The monthly wrap up will be up before Sunday.

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 Cover FDX Aug 140 p 01 for 98% profit
Cover AAPL Aug 97 p 01
Cover BRKB Aug 125 p 01

Cover PEP Aug 100 p 01
Cover WYNN Aug 108 c 42 for a 45% gain
Cover AAPL Aug 109 c 96 about a 600% loss on the rally

Wed Sell VRX Sep 22.5 32 rebalance
Sell BRKB AugW4 47

Sell TWLO Sep 44/90 strangles: 
Sell TWLO Sep 44 p 114
Sell TWLO Sep 90 c 43

Cover BRKB Aug 150 c 24
Cover BRKB Aug 148 c 134

Thu Sell to close WYNN Sep 110 c 95 for about a 70% loss

Fri Sell MON Sep 90 p 40

Sell TWLO strangles (2nd layer): 
Sell TWLO Sep 40 p 106
Sell TWLO Sep 90 c 35

Sell ACIA strange: 
Sell ACIA Sep 75 p 75
Sell ACIA Sep 170 c 40

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