$GMCR Bot out for cash story. That’s a great strategy. I wanna be a Mr. T, when I grow up. ;>)
Daily Archives: Tuesday, March 15, 2016
$GMCR – just a little…
$GMCR – just a little story about what happens when a company that has options gets bought out for CASH –
Last December GMCR announced that they were being acquired. I got crushed on some short calls so I decided to try and make some of that back.
I sold some long term puts for whatever I could get for them, knowing that they would go away once the merger was completed.
I covered the Jan 2018 puts a few weeks ago at 0.02. The ones below I kept –
GMCR Jan 20 2017 70.0 Puts – Sold at an average of 1.50
GMCR Jan 20 2017 75.0 Puts – Sold at an average of 1.50
GMCR Jun 17 2016 70.0 Puts – Sold at an average of 1.00
The expiration dates have all been adjusted so they expire this Friday.
It’s nice to know that it worked the way I expected it would.
NUGT puts this morning, now calls…
#ContangoETFs STO $NUGT March 18th 63 calls for 1.15
$NUGT
STO Mar 25 $40 puts @ $0.85
What to do when an Option Trade goes against you?
This is an interesting article from Dough Trading.
https://www.dough.com/blog/managing-options-trades
Jeff, I believe that this is something to look at when dealing with the SPX trades.
BIB….not VRX
Guessing BIB is down today due to catching shrapnel from the VRX implosion. Is it temporary?
Bought BIB covered stock at 37.70…short this Friday 39 calls. Could make 1.30 quickly or own it at a decent price.
EDIT…thought about selling VRX puts but who knows where this thing goes. Iceman whaddya think? I know we did pretty good on their initial implosion but this seems different….
SBUX on a daily Squeeze
STO Apr 29th SBUX 56/53.5 BuPS at $0.47
$NUGT #ShortPuts – Sold NUGT…
$NUGT #ShortPuts – Sold NUGT Apr 15 2016 30.0 Puts @ 0.95
$KOLD #ShortPuts – Sold KOLD…
$KOLD #ShortPuts – Sold KOLD Mar 18 2016 180 Puts @ 2.20. These expire Friday
SPX iron condor
STO Apr 29 2125/2115/1815/1805 for 1.70. Each short strike with delta of 10 and neutral delta for both legs.
Will look to close at 50% profit.
PG on Squeeze
STO PG Apr 29th 78.5/75 BuPS at $0.66…
I will add Calls when it decides to start expanding….
GOOGL & LNKD Closed
BTC GOOGL 700/682.5 BuPS at $1.29 sold for $2.54
BTC LNKD 115/110 BuPS at $2.08 sold for $1.50 (ouch). I was long and wrong!
SPX calls stopped
#SPXcampaign Bought to close $SPX March 24th 2025/2050 call spreads for 7.05. Sold for 1.60 on Feb 24th. Using the pullback to kill another threatened spread. This pretty much clears me of problem call spreads, and I will slowly build back positions to recoup losses.
$VRX I hope nobody was…
$VRX I hope nobody was long Valeant Pharma, down 35%, almost $25 after earnings, Canadian company
$UVXY Folllowed Iceman STO June…
$UVXY Folllowed Iceman STO June 17, 20 put for 2,76
NUGT opener
#ContangoETFs STO NUGT March 18th 47 put for 1.20
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Mar 18 2016 39.5 Puts @ 0.30. These expire Friday
Fat Fingers
#SPXcampaign While trying to set up a GTC order to close for .20, I mistakenly closed the $SPX March 23rd (Wednesday weekly) 2050/2075 call spread for 2.55. Sold for 1.60 last week. Rather than replace immediately, I will wait for next spike in SPX.
Options Bistro 