- STX: Short 200 shares @ 56, covered 54.54 = $292 profit
- GMCR: Sold 5 APR14 110 calls @ 1.00, covered 0.56 = $220 profit
Stayed away from LEN AAPL NFLX this morning. LEN and AAPL both shot down immediately and it doesn't look like the 200MA is going to provide a bounce for NFLX, given current market conditions. This morning has been another bloodbath, just like Frida afternoon.
Didn't make an option trade on STX, didn't have enough time to analyze one so I just went old school and shorted 200 shares on margin. GMCR went up a little this morning so I waited and sold some short term calls for $1.00, bought them back a little bit ago at $0.56. Still looking to go short GMCR as the bottom bollinger is holding, just like I thought it might, but I still think it plows through sometime this week. Might just short shares or sell a call spread with expiration a little further out.
I think the long play on LEN isn't there anymore. AAPL iron condor maybe, need a little more time to see what happens because it's getting hit today. NFLX, you have both given and taken from me... I'll pass.
Honestly maybe I should just grab some popcorn and wait for this market move to play out. Don't want to give everything back to the market. I wasn't as aggressive as I should have been this morning, but oh well.
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ReplyDeleteS&P 500 held 1841 support again today for the 4th time in the past two months. Might be showing signs of weakness. Lots of OI in the 1825 May puts, which is right at the 100MA. Traders are betting that this bull is tired and the 1841 (50MA) support will break. Markets may encounter a correction soon.
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