Saturday, March 18, 2017

Weekly: Long VRX

Another quiet week. I initiate new longs in Valeant Pharma VRX. Bill Ackman dumped the last of his shares. News like that can mark an intermediate or long term low. As always nothing is 100% and I sold out of the money puts.

Here are the trades (p = puts, c = calls, cover means buy to close, number at the end is price per contract.

Mon Cover SPY Mar 215 p 02 for a 96% gain
Sell BA Apr 165 p 73

Roll COST down and out: 
Cover COST Mar 165 p 122 for a 400% loss
Sell COST Apr 155 p 57

Tue Sell VRX Apr 7.5 p 14
Sell TSLA strangle: 
Sell TSLA Apr 210 p 82
Sell TSLA Apr 310 c 44

Roll BRKB up and out: 
Cover BRKB Mar 165 c 990 for a 340% loss on this leg
Sell BRKB Apr 170 c 666

Wed Sell COST Apr 155 p 39
Sell VRX Jul 7.5 p 50

Thu Roll TSLA: Cover Mar 220 p 01 for a 98% profit
Sell TLSA Apr 220 p 82

Fri Sell BRKB Apr 180 c 80

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