X MARKS THE SPOT

For those that read this not long ago, this was truly one of the most remarkable calls of the year.

Not only based on the fact that the stock hit such a lofty price target of mine when there were zero expectations for this stock just over a month ago, but the way it traded to my price target. Both my longs in steel (purchased AKS back in May) have marched higher nearly every single day. For those that have followed me into this, I have been planning for this move in steel stocks since 2011.

The X calls I purchased were nearly 1000% at expiration, but I decided to exercise the options and take delivery of the shares with a cost basis of $28 per share. With any luck, X rings the $40 register today, effectively making this one of my top predictions of 2014.

I could take the time to enlighten you on other great stuff we have going on here, but you likely already know. I bought September calls in AWAY this morning, and am watching ONVO, TXTR, RNG and TRIP.

Good Day, Sir…

OA

I’m going to keep this brief. I would hate for you to miss out on any part of this action in stocks today.

With summer officially over, what better way to start the month than with a bunch of our trades working and the broad market doing nothing? With the entire investment community hedging into Defcon4 on Friday, it would make the most sense to see the market do nothing for the next several days, and send all those options purchased as insurance to expire worthless.

Thus far I have three names on my radar: NFLX, ONVO, and AWAY.

More later,

OA

I’ve not done much on the day. I bought CSOD calls at the open, and shares of EVRY for a quick trade. I’m still wondering why I took the small gain on my SPLK position ahead of earnings yesterday.

I think we’ve seen the only bit of excitement ahead of the weekend, and as a result, I’m going to call it good here.

I apologize for any inconvenience, but this means After Hours with Option Addict will be cancelled today, resuming on Tuesday.

All of you enjoy the long holiday weekend. We’ll have concrete details on the Vegas event next week. Thank you for your patience.

OA

It’s a good feeling to own all the things that are in the fastest upward trends on the day, despite this market “weakness.” TWTR, GOOGL, VJET, XONE, FEYE, etc. It seems the appetite for risk is still in our favorite type of stock right now.

As we discussed in After Hours with Option Addict last night, market weakness is manageable so long as there is no “speed” in the market. Having survived a 50 point massacre in the Dow this morning, I am looking for my next round of opportunities to trade into next week.

Also, last nights TRADE OF THE WEEK was to buy GOOGL calls at the open. Hold these with an initial target of $595-$600. We’ll follow up on this in After Hours with Option Addict.

OA

While beaten up growth stocks have made incredible strides over the last few months, FB has been stuck. It has been ignored based on the opportunities that exist in other correlated instruments.

Now that healthy rallies have occurred in most of its peers, FB looks attractive up here. Enough time has passed, its consolidated enough, and was bought off opening weakness (downgrade).

With AAPL, the other hedge fund hotel trading so well here intra-day, I can’t take my eye off FB. Taking a small stab at Sep1 Wkly Calls for show.

GOOGL is the last stock on my radar this week. More on this later.

OA

Yesterday triggered plenty of excitement, enthusiasm, back patting, high fives, and ass grabbing in the comments. Now, with the SPX down a deuce, we’re back to being anxious, annoying, impatient, and quick to complain about how we want only gains and want them now.

If you’ve reached any conclusion about the significance, consequence, or value from today’s price action, I will be eager to hear it.

As for action today, I took a stake this morning in FNMA, and got Andy Dufresne’d in XXII, thanks to Seeking Assholes. I also find my excitement to be sitting here during the slowest week of the summer starting to wane.

I know these unimportant fluctuations in price tend to give you ulcers, so hit me with the ticker symbol that is wearing you down. Perhaps I can provide some temporary comfort. After all, we’re all friends around here.

OA