Friday, September 16, 2016

Weekly: Apple blow out

I got blown out for a loss on some sold AAPL calls. Thankfully, that was the worst of the damage to my chicken coop, as the markets moved up, down, up, and down again. Being short way otm options was a decent place to be this week, so I came out ahead. GLD and GDX positions also became uncomfortable.

Market rollercoaster may continue with Fed next week, then the first presidential debate on the 26th. It may be concidence that the Fed meeting is Wednesday, and Mercury goes direct on Thursday, but hey, whatever works. The monthly update will be posted soon.

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 FB Sep 124 p 16
Sell BRKB SepW4 143 p 31
Sell AAPL SepW4 100 p 33

Tue Sell TLT Oct 143 c 21
Sell GLD Oct 135 c 35
Sell IWM Oct 128 c 29

Sell BRKB SepW4 149 c 60
Sell GDX SepW4 29 c 25

Wed Cover AAPL SepW4 110 c 252 for a 1800% loss. Ouch. Thankfully a small dollar amount.

Sell TWLO Oct 40 p 70
Sell VRX Oct 20 p 34

Sell WYNN Oct 85 p 47
Sell BABA Oct 85 p 22

Thu Sell GLD SepW4 130 c 17

Sell AMZN vert: 
Buy AMZN Oct 650 p 124
Sell AMZN Oct 675 p 193

Sell NTES Oct 195 p 102
Sell AAPL SepW4 123 c 15

Fri Sell TLSA SepW4 185 p 36

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