I purchased calls in IBM and KORS today.
There is a big change in risk appetite today, as witnessed by the Dow and SPX being flat while high beta momentum stocks have been taken out back and kicked in the balls.
We actively watch individual stock performance in After Hours with Option Addict everyday, watching for this particular day to happen. This change is usually the first signal of a rotation that will take place underneath the surface of the market.
While I book a few other positions today, I’m mostly interested in how this all pans out at the close. If 80% of all momentum stocks finish 3% or lower today, it will likely create a pause in these stocks for at least a week. Therefore, when shopping for entries, don’t get married to the stuff you were making money in over the last few weeks. Adapt and stay solvent.
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What do you think about GOOG here OA?
thx!
Broke down, no entries down here.
Guess institutions are making room in their portfolio for Alibaba… agree on a pause in momentum stocks this week.
OA
Do you think JAZZ is ripe for puts?
No, I wouldn’t buy puts here.
OA – how in the hell did you all make it back home? Did you have to endure the 8hr delay in NV? It was on the news…
It.Effing.Sucked.
At least you had a vehicle full of freshly magic-kingdomed children to help you pass the time…
Trying to salvage here. Thoughts on N? I’m holding the 85’s.
OA- IBM looks great. But this is a slow mover. Wouldn’t time decay come into play if we take options for this trade?
Not if I am right about a faster move. We discussed this in AHWOA on Friday. Last time I put these guys in IBM was on 6/25.
I’m going to start a collection jar for your questions by the way.
lol my bad…unfortunately i cant save my questions cause i am at work until 6pm. Anyway, i make an effort to limit.
Just kidding with you.
KORS – what did you get – Oct 80s?
I did, yes.
I guessed based on volume…:)
Only need 3% higher to b/e for Oct 18 195s in IBM. Count me in.
Looks like market is looking for value – Google is coming back – TSLA, not so much.
Looks like GOOGL is walking that wall of worry on the 1 minute, k.
I grabbed some AMZN calls. Yay for me and such.
Last week’s order on Oct NMBL 30s went through today. Looking at LINE.
Hi OA,
New member of yours and to options. Did you get Oct18 205s in IBM?
195’s
First week in Oct. 195’s.
Thank you for your membership.
Thanks for the fast response.
That explains why the OCT 195s looked like a bad deal.
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KORS just caught a bid
$VIPS short is working.
Cheese – looks like TSLA is still working its way lower. I bailed when it broke 260 and salvaged half my premium.
That is pretty ugly, isn’t it?
Yeah, I was excited to get in at a good entry point – have to be more patient – it sucks when you look back and realize that you entry would have been much better for a put. I wouldn’t doubt that TSLA sees 240 tomorrow – it seems to have a tendency to go down for 2-3 days on strong moves like this.
lol – I hear – felt great about my entry on Friday….
sold last 1/2 DANG puts +250%
someones always gotta play the come line..not mad at that. nice trade
thanks Azu. I’ve been waiting for this move in tech and it’s paying today.
My alerts system is working overtime today with a lot of the stocks we’ve covered in watchlists pulling back into areas where I thought I’d like to be a buyer. In light of the action today though I’m having a hard time with new longs. $TKMR is interesting to me however http://online.wsj.com/articles/obama-plans-major-ebola-offensive-1410738096