Saturday, August 13, 2016

Weekly: whiff on DIS NVDA also BABA VRX

I took a couple of swings on Disney and Nvidia before their earnings reports. I whiffed on both. DIS was most frustrating, because 15 minutes after I bailed out, an analyst upgrade and rally would have gotten me to a big winner. As is, I lost on both. NVDA was bad enough that there was nothing to salvage (bear bet). Overall, I was up for the week. I also sold strangles on BABA and more strangles on VRX.

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 BRKB AugW4 147 c 72 rebalance
Sell AAPL AugW4 102 p 22 rebalance

Tue Sell BRKB AugW4 142 p 38 rebalance
Sell BRKB Aug 143 p 22 rebalance
Cover BRKB Aug 148c 66 about a 45% loss

Sell SPY SepW1 209 p 37

Sell VRX strangle: 
Sell VRX Sep 20 p 29
Sell VRX Sep 35 c 17

Cover AAPL Aug 88 p 01 for a 97% profit
Cover TLT Aug 130 p 01 95% profit

Buy DIS ratio: 
Buy DIS Aug 97 c 134
Sell 2x DIS Aug 101 c 27 each

Cover BRKB Aug 135 p 05 for a 90% profit
Sell BRKB AugW4 143 p 31

Wed Cover IWM Aug 107 p 02 97% profit
Sell-to-close DIS Aug 97 c 57 took a shot at earnings, wiffed for a 60% loss
still short some Aug 101 calls, overall position is a loser. Unbelievable, minutes after I bail out DIS rips to the upside. Cheese.

Cover DIS Aug 101 calls x2 18 each for a 10% profit
I bail out on the other legs, stunned at the turn of events. A decent winner was minutes away and I walked away, ending up with a loss. If I knew better, I'd do better. These things happen.

Sell TSLA AugW4 200 p 56

Bearish bet on Nvidia earnings:
NVDA ratio: 
Buy NVDA Aug 55 p 134
Sell 2x NVDA Aug 50 p 34 each

Thu Cover ULTA Aug 230 p 04 for 95% profit
Sell AAPL SepW1 102 p 21

Fri Sell BABA strangle: 
AliBaba gapping higher on earnings
Sell BABA Sep 87.5 p 34
Sell BABA Sep 115 c 12

Sell BRKB SepW1 142 p 28

Cover to free up some buying power:
Cover CAT Aug 77 p 04 for a 90% gain
Cover AAPL Aug 102 p 04 for a 70% gain

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