Hurricane Irma follows Harvey, and a possible hydrogen bomb test in North Korea over the weekend send stocks lower. I make a few modest moves, then the market
recovers on Wednesday. BRK.B and some other insurance related stocks move lower, then rally. I close out one leg near the lows. I eek out a tiny gain for the week. New positions include selling a strangle on IBB, a bull credit
spread on AMZN, new long in TRV.
Here are the trades (p = puts, c = calls, number near end is price per contract, percentage gain/loss is based on premium collected, actual gains/losses tend to be much smaller because of margin requirements)
Tue Another hurricane, and a bomb test in North Korea rattle the markets.
Sell BRKB Oct 185 c 86Sell NVDA SepW4 182.5 c 51
Sell BRKB Oct 185 c 86Sell NVDA SepW4 182.5 c 51
Sell GILD Oct 95 c 19
Sell RCL Oct 135 c 27
Sell BA Oct 270 c 18
Wed Sell NVDA Sep 148 p 29
Sell MCD Oct 145 p 35
Sell MCD Oct 145 p 35
Sell BABA SepW4 150 p 26
Sell HON Oct 115 p 21
Thu Berkshire knifes lower, probably on hurricane insurance losses.
Cover BRKB Sep 175 p 211 for a 325% loss
Sell IBB strangle: Sell IBB Oct 290 p 90
Sell IBB Oct 375 c 36
Sell GILD Sep 80 p 14
Fri Roll SPG: Cover SPG Sep 140 p 02Sell SPG Oct 145 p 99
Roll BRKB: Cover BRKB Sep 175 c
Sell BRKB Oct 180 c
Sell BRKB Oct 180 c
AMZN vertical for
46 credit: Sell AMZN Sep 935 p
Buy AMZN Sep 915 p
Buy AMZN Sep 915 p
Amazon continues lower so I go into the red by the end of the day.
Sell NVDA SepW4 185 c
Sell TRV Sep 110 p
Sell TRV Sep 110 p
Cover MCD Sep 140 p 02 for 85% gain
Cover AAPL SepW2 157.5 p 02 for 95% gain
I feel nervous about Apple and close the position with 45 minutes left.
I feel nervous about Apple and close the position with 45 minutes left.
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