I played 2 earning trades today, both on the long side with TXN Jul 27 $115 calls and IRBT Jul 27 73/80 call spread. IRBT is more of a wild horse during earnings so I played it more cautious. As for closed trades today, I took some of the profits of AMZN and MSFT calls today after watching the Russell 2000 tank. The gains were +2470 and +1300, and these are in addition to the GOOGL call spread and DPZ calls I closed today. We'll see if TXN holds up in the AH tonight as well as IRBT.
My trades
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Just had a chance to look at those numbers. TXN beats with Q3 guidance at 1.52 on 4.28B vs. 1.53 on 4.25B (used the midpoint of TXN's guidance). Looks good, but shares are sluggish in after hours barely above $114. On IRBT's side, eps had a big beat, raised FY eps and revs with eps range at 2.30-2.80 vs. 2.37 (midpt would be 2.55) on 1.07B vs. 1.07B est. IRBT actually pushed through my $80 target. I did not expect it to jump that high, but I've seen this before and I've seen IRBT fall into the negative by tomorrow afternoon, so I'm taking this with a grain of salt.
Closed out the TXN calls for a loss. This one's another big one. I legged out of IRBT, still holding 1/2 the long 73 calls to see how that plays out today. Took out GOOGL 1275 calls for a loss.
Also added GOOGL 1260 calls and GRUB Aug 3 $120 calls. I had GRUB on a call spread yesterday and didn't press the buy on it. Should have done it using 110/120 call spread, that would have been nice today.
I'm too heavy on the long side, so I've also added BA Jul 27 $347.5 puts as a hedge.
Also added GOOGL 1260 calls and GRUB Aug 3 $120 calls. I had GRUB on a call spread yesterday and didn't press the buy on it. Should have done it using 110/120 call spread, that would have been nice today.
I'm too heavy on the long side, so I've also added BA Jul 27 $347.5 puts as a hedge.
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I've added BABA Aug 3 $195 calls taking on the momentum run. BABA will have a wild ride into the end of next week. I believe it will move on AMZN's earning report, and then again on BIDU's report. I haven't seen confirmation, but earnings on BABA is either at the end of next week or the following week.
Also contemplating closing out GRUB 120 calls here. My position has just about tripled as GRUB ran from about $120.5 (where I bought my options) up to $132 now. That's one heck of a run.
Also contemplating closing out GRUB 120 calls here. My position has just about tripled as GRUB ran from about $120.5 (where I bought my options) up to $132 now. That's one heck of a run.
Instead of closing out 1 of the 2 AMZN 1850 calls at $4000, I sold 2 AMZN 1900 calls for just a little over $4300. This gives me a chance to play the trade as if I had 1 AMZN 1850 call in play for tomorrow's earnings. The move in the market has pushed the account up to $56.9k, and when it does something like this I get a bit aggressive. So I added the ALGN Jul 27 $390/$410 call spread into play with earnings tonight. I'm looking for ALGN to beat earnings and run. As for the other positions, my avg for BABA 195 calls are at 3.02 and I didn't want to turn GRUB into a day trade so I'll keep it through tonight and look for follow through.
I'm looking at other earning trades to make in the last 20 mins. After taking the loss on TXN and locking in profits on IRBT, I'm at 5 wins/4 losses for earnings related trading this quarter.
Added NOW Jul 27 185 calls for earnings.
I'm looking at other earning trades to make in the last 20 mins. After taking the loss on TXN and locking in profits on IRBT, I'm at 5 wins/4 losses for earnings related trading this quarter.
Added NOW Jul 27 185 calls for earnings.
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This run up on the markets to close the day was wild. Pushed the account to $59.4k by the end of the day. It ran up +$16k today. But I know this isn't going to hold. ALGN's report pushed shares back -10pts. I have $1300 risk on that trade. And that drop in FB from $218 to $180 in the after hours. What a move. I was tech heavy, and I can see GOOGL and AMZN are down in the after hours. Only good thing is I sold those MSFT calls in time to lock in profits. It's going to be fun tomorrow adjusting my positions.
What a morning. I was able to close out NOW 185 calls for a nice profit, just about covering the losses on the ALGN call spread that I had set up. On AMZN, I was able to close out the 1900 calls at the open and then waited for a bounce to sell short again. I'm locked into the 1850/1900 call spread again after taking a quick profit on the 1900 calls. I figured today might play out like the day after NFLX for other techs like GOOGL and AMZN.
For that reason, I added into GOOGL calls this morning. My avg on this position is at $8.12, practically averaged up on this position. I do like it still today. I am still holding GRUB and wow that one has bounced back. Other than that, I do have the long position on ADBE that I've held for over 2 weeks now. I was also able to grab some more BABA Aug 3 195 calls a little higher than my entry yesterday. It looks like I averaged up on this position too. If not for the news on a potential trade deal with Euro, I think we'd be down much bigger today.
For that reason, I added into GOOGL calls this morning. My avg on this position is at $8.12, practically averaged up on this position. I do like it still today. I am still holding GRUB and wow that one has bounced back. Other than that, I do have the long position on ADBE that I've held for over 2 weeks now. I was also able to grab some more BABA Aug 3 195 calls a little higher than my entry yesterday. It looks like I averaged up on this position too. If not for the news on a potential trade deal with Euro, I think we'd be down much bigger today.
Yep, I missed that trade too. I looked at a strangle on FB yesterday, and thought over $9.00 for a strangle on FB was just too much...little did I know. But I did jump into PYPL Aug 90 calls today. I watched this one yesterday in the AH and this morning. After the initial drop, there was nothing but up. I just grabbed these calls, so not much in movement yet, but I'm actually looking for a run here pushing back above $91 and into new highs. This one along with the ADBE calls are my long holdings that I'll hold for a longer period.
It will be interesting to see if the SP500 closes above or below the neutral Pivot Point (brown line). The 400ma rising micro trend (grey line) is way below the SP price.
Sometimes when price is stretched too far above or too far below the 400ma, it retracts back to it like a rubber band.
[2 days, 5 minute candles, 400ma & Pivot Points]
On the daily candle, 8 month, 200dma chart, it looks like the SP500 is heading for 2875,
but there could be a pause or two along the way ( there has been two unfilled gaps on this recent run up in July).
Sometimes when price is stretched too far above or too far below the 400ma, it retracts back to it like a rubber band.
[2 days, 5 minute candles, 400ma & Pivot Points]
On the daily candle, 8 month, 200dma chart, it looks like the SP500 is heading for 2875,
but there could be a pause or two along the way ( there has been two unfilled gaps on this recent run up in July).