Joined Jan 1, 1970
1,010 Blog Posts

Summary – Tuesday, 2008.V.6.

The elections are still going full-swing and the ‘superdelegates’ are coming out with their endorsements at a fairly steady pace (thank you Gunners & Adam & Danny!)…so today’s summary will be short & sweet, especially since I already vented/complained/whined about the moronic CLF price action.

DP Buys:

  • Calls in [[STP]] after a strong first 20-30 minutes saw it break above yesterday’s highs.
  • Was looking to buy puts in [[BWLD]] under $31 & [[GBX]] under $23, but neither fell that far.

DP Sells:

  • [[CLF]] calls at the open, and the puts soon after. Ended with a small 3% loss and lots of frustration.
  • [[DO]] was showing some weakness in the first hour – sold the calls for the best profits yet for May.
  • [[EOG]] puts from the 130. straddle, which was bought last week for earnings, as the stock broke yesterday’s highs. Despite good earnings, EOG has been experiencing a steady climb instead of a high volatility move. Will look to ride the calls as long as possible…
  • Half of the [[DVN]] calls for 100%, thus locking in breakeven and playing the rest of the way with the ‘house’s money’ (as hattery likes to say).
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