My option trades
- Thread starter ryanpatrick
- Start date
We're already @ 1350.
Damn, I was perfect in my timing of completing my SPXPM fly (4 1360/1300/1240), but I sold 1 of the 1240P leg. I should have left it completely intact with max risk/cost of $1,600 because it could have been an extra hedge for my covered call portfolio at a small price.
Wow, almost dipped into FOSL 90 puts at $4.00.....after those losses, I just didn't pull the trigger.
I reviewed PCLN again for tomorrow. The chart is showing bearish signs all over the place. RSI is lower on the second top, and looks like a nice double top formation, no break yet, but the height is from $675 to $760 in my opinion. That puts a target around $590. Short interest is at lowest in 12 months of reading, options have showed more interest in calls over the past 2 months. PCLN was weak last time on this quarter's earning report too at a -3% drop. Average earning swing would be about 7-8%. Analyst have 781 as their mean target, nice 11% above levels, and that's 19 buys/strong buys against 3 holds and 2 sells. Est. has increased to $3.5 on 1.39B, but the Summer quarter estimate of $7.38 on $1.39B is the important one tomorrow afternoon. Weak market, I think IWM just broke the head/shoulder formation right? I am putting order in on PCLN May 19, 2012 660/650 put spread at $3.00, if not triggered I'll pull back. I think we at least see PCLN touch that gap around $600-$625 to show support at that level.
I reviewed PCLN again for tomorrow. The chart is showing bearish signs all over the place. RSI is lower on the second top, and looks like a nice double top formation, no break yet, but the height is from $675 to $760 in my opinion. That puts a target around $590. Short interest is at lowest in 12 months of reading, options have showed more interest in calls over the past 2 months. PCLN was weak last time on this quarter's earning report too at a -3% drop. Average earning swing would be about 7-8%. Analyst have 781 as their mean target, nice 11% above levels, and that's 19 buys/strong buys against 3 holds and 2 sells. Est. has increased to $3.5 on 1.39B, but the Summer quarter estimate of $7.38 on $1.39B is the important one tomorrow afternoon. Weak market, I think IWM just broke the head/shoulder formation right? I am putting order in on PCLN May 19, 2012 660/650 put spread at $3.00, if not triggered I'll pull back. I think we at least see PCLN touch that gap around $600-$625 to show support at that level.
Did you stick to your guns? If so, when are you going to declare victory!!!
Is FOSL close to extinction? 
EDIT: PCLN options are VERY expensive, hard to be a buyer on those.
Maybe a $75 OTM Iron Condor might be best.
EDIT: PCLN options are VERY expensive, hard to be a buyer on those.
Maybe a $75 OTM Iron Condor might be best.It is very possible SPY and the QQQ will drop again. Not much more than it already has though, I don´t think. Down pressure is still there.
I´m sitting on 15 contracts in CALLS, but just going to hold. Figure it will come back to the regression line, either before this week is over, or next week.
I´m sitting on 15 contracts in CALLS, but just going to hold. Figure it will come back to the regression line, either before this week is over, or next week.