The past 12 hours have been just about the busiest of my life…so the detailed straddle/strangle trade strategy post has been delayed until later tonight. Right now there’s only time for a quick update:
DP Sells:
- Closed out [[CROX]] & [[HANS]] straddles, selling the losing legs at the open & the winning legs a bit later, to lock in profits in both.
- Sold the calls from the [[CELG]], [[CSCO]], [[OMG]] straddles.
DP Buys:
- Took a small position in [[BBBY]] calls, anticipating a hold of support @ $32-32.50.
- Puts in [[MER]], [[XL]]. Death to financials!
- One more round of earnings: straddle in [[AIG]], strangles in [[NVDA]], [[PCLN]], [[TRLG]]-(best jeans ever!).
QUICK NOTE: I’ve been on fire with earnings this week (after picking several duds last week). AIG, CROX, HANS, PCLN, OMG all with 10%+ moves…easy money!
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DPeezy, I’m looking forward to learning more about options and straddles/strangles.
DPeezy, Have you identified any next week movers? I knew PCLN would be good but expensive as well and if it did not move, my straddle/strangle would screw me both ways. 20 point move is really good. Anyway, bought some VLO puts today.