Well that turned out to be a rather uneventful earnings report. Support is holding for now, so I'm just going to sit it out a bit longer.
Vertical Spreads for Aggressive Growth
- Thread starter Cache Landing
- Start date
Today's Action
BTO 4 INFY MAY 80 p @ 1.30
Year to Date P/L
Account Value: $11,097.50
YTD Gross P/L: 1,330.00
YTD Commiss: 232.50
YTD Net P/L: 1,097.50
YTD % P/L: 11.0%
I don't plan on staying in this position for very long. My opinion is that it was already overvalued and the earnings jump was exaggerated. I'll take the opportunity to sell with any decent pullback.
BTO 4 INFY MAY 80 p @ 1.30
Year to Date P/L
Account Value: $11,097.50
YTD Gross P/L: 1,330.00
YTD Commiss: 232.50
YTD Net P/L: 1,097.50
YTD % P/L: 11.0%
I don't plan on staying in this position for very long. My opinion is that it was already overvalued and the earnings jump was exaggerated. I'll take the opportunity to sell with any decent pullback.
Today's Action
STO 3 SPX MAY 1340/1350 calls @ 1.30
Year to Date P/L
Account Value: $11,088.50
YTD Gross P/L: 1,330.00
YTD Commiss: 241.50
YTD Net P/L: 1,088.50
YTD % P/L: 10.9%
Decided to grab the opportunity to open a call position on this jump. I still haven't closed out my APR positions yet, so I don't have too much free capital.
STO 3 SPX MAY 1340/1350 calls @ 1.30
Year to Date P/L
Account Value: $11,088.50
YTD Gross P/L: 1,330.00
YTD Commiss: 241.50
YTD Net P/L: 1,088.50
YTD % P/L: 10.9%
Decided to grab the opportunity to open a call position on this jump. I still haven't closed out my APR positions yet, so I don't have too much free capital.
cache thats a GREAT credit...did you leg in?
Actually yes, I forgot to mention that. I had an order in for $1.20 for a few minutes that went unfilled. I left my computer for a minute and SPX jumped up to +13.50 for the day. The spread mid was at 1.35 so I thought I would take a stab at legging in for 1.30. It worked this time.
{edit} I want to avoid getting into a habit of legging in, but I just haven't been able to get filled on a spread limit lately.
I was looking back through past posts for something and noticed that I had recorded one of the trades wrong. The DNA bull call spread is a MAY spread, not an APR spread. Sorry about that.
Today's Action
STO 4 MRVL MAY 67.50/70 calls @ 0.40
Year to Date P/L
Account Value: $11,076.50
YTD Gross P/L: 1,330.00
YTD Commiss: 253.50
YTD Net P/L: 1,076.50
YTD % P/L: 10.8%
Opened the call side of the MRVL IC on this run. I think it might continue higher from here, but the credit is good enough. I really don't think it will break the 52-week high before the end of MAY.
STO 4 MRVL MAY 67.50/70 calls @ 0.40
Year to Date P/L
Account Value: $11,076.50
YTD Gross P/L: 1,330.00
YTD Commiss: 253.50
YTD Net P/L: 1,076.50
YTD % P/L: 10.8%
Opened the call side of the MRVL IC on this run. I think it might continue higher from here, but the credit is good enough. I really don't think it will break the 52-week high before the end of MAY.
I actually haven't been following XOM for three reasons. 1) I am trying to steer clear of earnings reports, 2) I'm avoiding oil companies right now, 3) I'm avoiding earnings reports from oil companies.
Seriously though, just looking at the charts really quick I think some long JUL 65 puts would be alright. I don't think I could convince myself to open a bear call spread with vols as low as they are right now.
Or if I wanted to play with fire, I might determine how many JUL contracts I would be interested in, and buy the same number of MAY contracts. This way I would get a better IV increase into that earnings report.
May take on it... IV increase to 25% into ER with the underlying price dropping $2-3.
May take on it... IV increase to 25% into ER with the underlying price dropping $2-3.