Saturday, April 29, 2017

Weekly: French election rally

Mon French election results set off a world-wide stock market rally. I came in underinvested with a lot of free buying power. I added longs, mostly selling puts at the 7% probability line. I don't want to take on a lot of risk if the rally evaporates.

Sell SPY Jun 215 p 52
Sell IWM Jun 123 p 43
 
Sell BRKB Jun 155 p 75
Sell QQQ Jun 122 p 34
 
Sell AAPL May 157.5 c 12
Sell UNH Jun 155 p 51
 
Sell to close AAPL May 130 p 22 for a 85% loss on this leg. This was part of a put tree ratio, long the 130 puts, short 2x the 120 puts in ratio. Originally it was a bearish bet, but I hedged to near delta neutral after the stock held firm.
 
Tue French connection rally continues. I add more longs, going way out on the probability curves.
 
Sell IWM May 132 p 34
Sell SPY May 228 p 31
 
Sell CAT Jun 90 p 34
Sell MSFT May 62.5 p 20
 
Sell NFLX May 135 p 25

Wed Sell WYNN May 112 p 42 earnings
Sell IWM Jun 129 p 49
 
Sell SPY May 230 p 34
Sell DIA Jun 190 p 36
 
Sell BA May 170 p 38

Thu Sell SPY Jun 250 c 17 rebalance
Sell XLNX Jun 57.5 p 35 earnings
 
Sell SPG Jun 145 p 53 earnings

Fri Sell RCL Jun 97.5 p 45 earnings
Sell WDC Jun 75 p 50 earnings

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