Decided to also lock in gains in SQ Apr 50 calls. I don't want to give back any of those profits too.
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My trades
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I have continued to add to MULE Apr 40 calls. It gave me a couple of opportunity to grab those calls around 2.50. So far, I've got 6 calls total. I'll try to get up to as high as 12 on this one. IF rumors hold and announcement is this week, then I want to get in early. If there's no news by Monday, I'll lower my risk back to 5-6 calls.
I've ended with 10 calls on MULE's Apr 40 calls. Decided to add the MULE Apr 35 calls too. I'm looking to end up with about 5-6 of the Apr 35 calls added to my 10 Apr 40 calls.
Alright, so I've been adding MULE all day. I think I'm done now with 10 MULE Apr 40 calls. I also ended with 8 MULE Apr 35 calls with a total of 21% of my account. If this happens in the next 2 days, it's going to be an all cash play, and if the $6B holds, then the price should be around $46, unless MULE has a large debt somewhere that I don't see.
*Also took the opportunity today to add to MSFT Apr 95 calls, INTC Apr 50 calls, PYPL Apr 82.5 calls...
*Also took the opportunity today to add to MSFT Apr 95 calls, INTC Apr 50 calls, PYPL Apr 82.5 calls...
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Well, I thought the rumors on this one might be more to the true side. MULE will be bought out at 44.89 (which includes a bit of CRM stock). Shares are at $44, and that's probably where I'll close out my position. One mistake here is the position size should have been a bit bigger, but after taking some losses (watching the account drop from 39K to a low of 33K yesterday) I could use an easy winning trade like this one. My gains on MULE topped out at +1800 at the close. It looks like I might add another +1K to it if $44 holds tomorrow morning.
I tend to get riskier after locking in big gains. I added FDX Mar wk 4 255 calls at the open here for 3.20 avg. It's not a big position, but I saw FDX above 260 in AH and earnings were on par.
The profits from that quick MULE trade was a little above +4200 as I went in with a big position size on this trade. I was looking for another 1-2 days before the announcement, but I'll take it here. There's no point in holding onto the position with minimal reward left vs. the increased risk.
I guess, I should also included that I've also added FB Mar wk 4 162.5 puts here. Going to see if it trickles down over the next 2 days. It's a 4 contract position as I have been going with 4 contracts lately, but I have a 50% stop on the position.
The profits from that quick MULE trade was a little above +4200 as I went in with a big position size on this trade. I was looking for another 1-2 days before the announcement, but I'll take it here. There's no point in holding onto the position with minimal reward left vs. the increased risk.
I guess, I should also included that I've also added FB Mar wk 4 162.5 puts here. Going to see if it trickles down over the next 2 days. It's a 4 contract position as I have been going with 4 contracts lately, but I have a 50% stop on the position.
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Tight stop on FB triggered. I was wrong on FB for today. I've added more FDX after taking this FB loss.
Took a loss on FDX calls with this position being stopped out. This along with the FB put loss this morning totals -700. I get too aggressive after locking in big gains, giving the market back some of my profits.
The fomc announcement was generally dovish, but it sounds like 3 rate hikes set up for 2019. Banks were running, and I jumped into JPM Mar wk5 115 calls at avg price 1.54. I had to choose between JPM or GS (2 of the leading banks/investment banks), and decided on JPM. Trading is very choppy right now, so I've been adding every time the market gives me a better bid. I'm up to 20 contracts on JPM calls now.
The fomc announcement was generally dovish, but it sounds like 3 rate hikes set up for 2019. Banks were running, and I jumped into JPM Mar wk5 115 calls at avg price 1.54. I had to choose between JPM or GS (2 of the leading banks/investment banks), and decided on JPM. Trading is very choppy right now, so I've been adding every time the market gives me a better bid. I'm up to 20 contracts on JPM calls now.
Well, I added more positions into the end of day, anda ended up with lots of JPM Mar wk5 (mar 29 expiration) 115 calls. The FOMC meeting should have pushed this market higher. I do feel the safer play are the banks going into next week, but then again I took 2 straight losses today too. I am still holding all the Apr calls, but also have this JPM position in play. I'll look to close JPM on Friday if it bounces above 116.5.
Nasdaq broke its 50-day ma, and that's where I thought about total liquidation. I checked every position I had, and decided to start by getting rid of the weak ones first. MSFT, PYPL, and those JPM next week options were closed out for a loss of -3500. That ate into the +6200 profits this week I had in MULE calls and the SQ Apr 50 calls I closed out on Monday. This one hurts.
I still have HES May calls, INTC and AMAT Apr calls. All three are considered stronger stocks to me. I do have DKS too, but that was a 2% of my account risk so I can take a total loss if needed. I also played MU for earnings today, and have added to this position averaging down my cost. This position is still slightly under 5% of my account, so it's not big and a risk I can manage.
Looking back, I was trying too hard to reach $40,000. Intraday, I saw it at $40k a couple of times this week, but the losses have pulled it back down to just above $35k this morning. I'm okay with finishing this first quarter at $35k and I'll prepare for the next quarter right now.
I still have HES May calls, INTC and AMAT Apr calls. All three are considered stronger stocks to me. I do have DKS too, but that was a 2% of my account risk so I can take a total loss if needed. I also played MU for earnings today, and have added to this position averaging down my cost. This position is still slightly under 5% of my account, so it's not big and a risk I can manage.
Looking back, I was trying too hard to reach $40,000. Intraday, I saw it at $40k a couple of times this week, but the losses have pulled it back down to just above $35k this morning. I'm okay with finishing this first quarter at $35k and I'll prepare for the next quarter right now.