The
news from last weekend was that oil producing countries could not agree on any
production cuts. On Monday, the initial reaction was a sharp down gap
in oil and oil stocks. Then buyers came in large. To me, the up day
on bad news may mean the bottom is in for oil and oil stocks. I took
some small long positions in XLE and XOP and then added to them.
It
was a busy week for earnings news. I mostly went after a lot of small
fish. I sold many low premium out of the money puts on stocks with
positive earnings news. Elsewhere, TSLA continued to make me money as
it continued in its tight range and six layers of sold options came
in safe. Mostly small fish, but enough sardines can make a nice mea1.
Here
are the trades (c = calls, p = puts, weeklies denoted by W suffix, W1
is week1, sell means sell-to-open, cover means buy-to-close, number
is price per contract).
Mon Sell BRKB Jun 130 p 55
Sell
XLE Jun 55 p 33 news
Sell
HAS May 77.5 p 15 earnings
Sell
TSLA strangle 108 gross:
Sell
TSLA AprW5 222.5 p 59
Sell
TSLA AprW5 285 c 49
Tue
Sell UNH May 120 p 42 earnings
Sell
MON May 82.5 p 45 rebalance
Sell
XOP Jun 27 p 22
Sell
TSLA AprW5 272.5 c 60 rebalance
Sell
TSLA AprW4 260 c 38
Wed
Sell UNH May 125 p 51 add
Sell
ISRG May 550 p 90 earnings
Sell
SPY May 199 p 49 rebalance
Sell
TSLA AprW4 240 p 46 rebalance
Sell
JNJ May 108 p 23 add
Sell
XLE May 60 p 18 add
Sell
XOP May 30 p 18 add
Thu
Sell YUM May 75 p 20 earnings
Sell
UA May 40 p 15 earnings
Sell
CTXS May 77.5 p 25 earnings
Fri
Sell SKX May 27.5 p 15 earnings
Sell
MCD May 132 c 29 earnings
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