A few of my largest positions have been sedentary throughout this quiet low volatility environment. They did not participate in the rally and the continued to sleep today. There is a certain element of squirrel that enters my mind when I spend 4-5 days with size in a company like Candy Crush maker King Digital Entertainment. They make free iPad games for goodness sake.
Oracle missed earnings expectations after the market closed and the shares are getting hammered. This should serve as a friendly reminder how pungent and nasty the price action was during earnings season a month or so back.
I managed to end the day green while giving back my quick gains in Facebook. There are definitely winners and losers in this stock pickers market.
I bought the early selling in Amazon with options, a move which seems too soon in hindsight. These fast moves down are not the best time to buy options. Then again, buying yesterday afternoon would have been worse, yes? I will see how they trade tomorrow and hopefully carry the calls through the weekend.
Tomorrow is a quad witching of option expiration and index futures expiring and the action may spike into the realm of violent.
I joined RC on the FRO late in the session, I am working the short side in NFLX whist riding a small YOLO runner into tomorrow OPEX, and I am overall feeling groovy even while I lose trust in some of my largest positions. I have a plan here, it is working, and I will stick to it, even if I feel a bit of paranoia.
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tomorrow is a gambling addicts dream. before the invention of weekly options, OPEX, especially quad witching OPEX, was the time to throw out crazy bets on expiring calls or puts. Near the money strikes super sensitive come 3pm. It’s the gas station scratch off and casino penny slots of wall street.
how about that music vid though? Santa banana…