Friday, November 04, 2016

Weekly: Crunch time in ULTA

I continue to tread lightly. I get whacked in ULTA as it drops below my mental stop level. I am down for the week, but with my cautious stance, the damage is limited.

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):

Tue 11/1/16 Sell TSLA Nov 220 c 54 rebalance into the decline

Sell AAPL Nov 100 p 20 down five days in a row already, probably won't continue in a straight line down.

Wed Sell BABA Nov 110 c 24

Electronic Arts fades after a higher opening so I short it.
Sell EA Nov 85 c 18

Sell EA Nov 71 p 21
Then EA catches a bid and I hedge the short.

Thu Sell WYNN Nov 100 c 21
Sell FB 129 c 23

Sell WDC Nov 61.5 c 18

Fri Cover ULTA Nov 230 p 600 for a 800% loss. Crunch.

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