Friday, July 07, 2017

Weekly: Fireworks

A wild week, but like most fireworks displays, it was mostly sound and light, not much lasting change. TSLA finally came back to earth. Unfortunately, strangle sellers can hit on both ends of big moves. The jury is still out on TSLA and many more positions, but it is uncomfortable. Some are saying the trends is now down in QQQ. Could be, but I need more evidence.

Here are the trades (p=puts, c=calls, sell means sell-to-open, cover means buy-to-close, the number near the end is price per contract).

On Monday morning, I thought it would be quite holiday trade for the half day, but the fireworks started early. Big moves in BRKB, NVDA and others,
make for an active trading day.

Mon Sell IWM Aug 129 p 44
Sell NVDA Jul 160 c 68
Sell SPG Aug 145 p 64
Sell BRKB Aug 165 p 87
Cover ULTA Jul 330 c 05
Cover NVDA Jul 200 c 04

Sell NVDA Jul 165 c 33
Sell IBB Jul 287.5 p 76

Sell NVDA JulW2 155 c 44
Sell JPM Aug 82.5 p 25
Wed Roll TSLA: Cover TSLA Jul 450 c 04 for 87% profit
Sell TSLA Jul 400 c 27
Sell SPG Aug 175 c 42
Cover FDX Jul 170 p 02 for 92% profit

Cover ULTA Jul 315 c 05 for 90% profit

Thu Sell ULTA Jul 290 c 55

Cover QQQ Jul 146 c 01 for 95% profit
Thu Sell ULTA Jul 290 c 55

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