Just as suggested by the $VIX and the continuing $CPCI inaction (now in its 9th straight day), we got a bit of selloff/dip on Thursday. Predictably, my bearish puts did well, while quite a few of the bullish calls took a hit. In the final reckoning, the net/present value remained flat, while the booked value took a slight hit thanks to the stop loss in ENER (should’ve doubled down on those calls when I had the chance & entry on Dec.8th – I passed up that opportunity, much to my chagrin).
The 2 sold positions were replaced by 2 new bearish put positions, further increasing the negative bias. Looks like I just can’t get away from this theme…not sure who/what to blame…looks like I just need to ride out the flat/banal market until we get some directional action come January(?).
Orders lined up for tomorrow include bearish trades exclusively:
- puts: GOOG (@590.), NRG (@25.22), PCLN (@212.40), STP (@16.75), X (@48.)
- calls: SRS (@8.08)
BWLD going “wild” today; the lone bright spot as things settle down into the last hour of expiration Friday…