Friday, March 24, 2017

Weekly: first hard down day of the year

The stock market went over 100 days without a 1% decline, before Tuesday's hard down day. Like the first rain of the year in dry climates, there was a lot of slipping and sliding. I came in to the week with a lot of dry powder from the recent option expiration. I took some lumps, but my overall losses were modest.

Here are the trades (p = puts, c = calls, sell means sell-to-open, number at the end of the line is price per contract).

Mon Sell SPG strangle: 
Sell SPG May 140 p 38
Sell SPG May 190 c 25
 
Sell WYNN Apr 97.5 p 32
Sell JPM May 77.5 p 22
 
Sell TIF May 80 p 28
 
Sell IWM strangle: 
Sell IWM May 123 p 53
Sell IWM May 150 c 19
 
Tue Sell NTES strangle: 
Sell NTES Apr 240 p 51
Sell NTES Apr 350 c 21
 
Sell DIA Apr 214 c 16
Sell IWM Apr 144 c 14
 
Sell SPY Apr 243 c 16
Sell BA Apr 190 c 16
 
Sell AAPL backratio: 
Buy AAPL May 130 p 132
Sell 2x AAPL May 120 p 40 each
 
Sell GS Apr 262.5 c 31
Sell JPM May 97.5 c 22
 
Cover BRKB Apr 165 p 111 for a 20% gain
 
Wed Sell AAPL May 125 p 64
Sell MAR May 80 p 45
Sell TLSA Apr 300 c 42
 
Thu Sell SPY May 214 p 67
 
Sell NVDA strangle: 
Sell NVDA Apr 90 p 20
Sell NVDA Apr 130 c 17
 
Sell TIF May 82.5 p 31
Sell DIA May 183 p 38
 
Fri Sell DIA 215 c 28
Sell SPY May 245 c 34
Sell IWM 145 c 34

No comments: