Quick summary today as there is much celebrating to be done. Including a beer for Danny. Plus, some drunken debating on who’s going to triumph in March Madness. Think you know more than me? Then back up the talk by entering the iBC March Madness Pool!
Anyhoo…today was a perfectly fine example of the George Costanza Market that we’re in right now: on the day that one of the oldest/most venerable financial institutions collapses, the Dow finishes in the green! Nonsense.
The Nasdaq took a beating though, which works perfectly fine for my [[GOOG]] and [[RIMM]] straddles.
DP Buys:
- Calls in [[CPO]], anticipating a breakout above $39. Also:
- Calls in [[FXE]] and [[FXY]], as mentioned yesterday. The dollar is going to get weaker yet again with tomorrow’s rate cut.
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Puts in [[CMG]], [[MOS]], [[STR]]. CMG and STR were ideas from OA’s Weekly Watchlist.
DP Sells:
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Closed out long straddle in [[TTWO]]-(loss) and the short straddle in [[TMA]]-(50% profit).
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Sold calls in [[PALM]] & [[GME]], as well as puts in [[CWST]]. PALM was a minor loss (small position), while the other two ended decently profitable. Although, CWST was a lucky trade, considering their option volume is very low…
Thanks for the props/beer DPZ. Kudos on the day.
Do my name proper and drink from one of these. Or some stella.