CAT
Sold Jan 40/65 strangle for $1.70, they report tomorrow morning.
AMZN
Sold Dec 75/115 strangle for $2.15, report Thursday amc.
Looking for a good IV crush on these.
POT
Bought to close the Dec 70/115 strangle for $2.65, for a 35 cent gain. Gapped up this morning and started to run on some good news, plus I needed to free up some bp for the AMZN trade.
Tackle Trading Halftime Report July 29th 2019
6 years ago
Posts
So it looks like I'll be picking shrapnel out of my face for a few days on this one. I sold a 75/115 SS Monday morning for $2.15, and was actually up almost 20% as of close yesterday, due to the IV dropping a couple days prior to earnings. I considered taking profits and closing yesterday, but NOOOOO, I had to get greedy and stay in. Bought it back this morning for $5.27. OUCH!
ReplyDeleteI see you bought your Short Strangles out a few months. why do you do that as opposed to selling the front month options with faster time decay?
ReplyDeleteI sold CAT Nov 65/50 SS. Still holding it. IV really fell on this one. Behaved nicely
I sold two AMZN Nov 105/80 SS.
WOW- I hedged it by buying stock after hours as it shot up. Had 90 shares of stock and felt good, got up late today and it had gone from 107 to 114 alreadt and I was behind the eight ball. So started hedging again. Now with 170 shares long I'm delta neutral and can wait until things settle down. Would like to buy back NOV 105 and sell DEC 125 or 130, but want some kind of indication of some slowing or resting from this and insane upward movement.
Your DEC 115 calls were safer but are in the money already, so what are you going to do? Where do you think AMZN goes from here in the next week?