Rebalance APC (sell calls)

I rebalance my complicated position on Anadarko Petroleum by selling Mar 87.5 calls @78.7. I was already short Mar 90 calls, Mar 75 puts, Mar 67.5 puts x2. As APC moved toward the 75 strike price, my positive delta (bullish bets) increased. The recent highs at 85 are chart resistance.

The markets are too fast for my tastes. I am not in front of a screen all day, and I tend to plod along, more like a turtle. Yes, there are opportunities for the nimble, but I am not in that group of the more nimble traders that can take advantage of these day-to-day moves.

My most recent moves last Friday were akin to slipping on a banana peel. Oops and ouch. A lot of ideas cross my mind. ThinkorSwim (my broker) seems sluggish this week. The volatile markets might be a factor. 

 

Long BA BRKB IWM LGF MON PG QCOM SPY

Net long APC KORS