thomberg1201 11:07 am on Monday, June 27, 2016
Tags: FallingKnife ( 963 )

$VXX sold Aug 19 20…

$VXX sold Aug 19 20 call for 1.63. I’m short a 21 put that has been rolled, so I guess I have a 21/22 ratio calendar strangle California condor or something like that

#fallingknife

fuzzballl 11:10 am on Monday, June 27, 2016

🙂 🙂 🙂 Love it! The ‘ol California Condor…
- Option Iceman 12:01 pm on Monday, June 27, 2016
  
  Fuzzy – what’s your opinion on some #fallingknife trades on the airlines?
  - fuzzballl 12:13 pm on Monday, June 27, 2016
    
    It’s a tough call. I’ve got my job tied up in the industry so I never trade ’em. Too many eggs in one basket. But…if fuel stays cheap and no American based airliners blow up or fall out of the sky they could be due for a turn around. Personally, I’ve been telling guys to sell AAL since the double top at 56. Had a 777 FO down here in Miami that bought tens of thousands of the bankruptcy shares and made a couple million on it….except he’s given a huge chunk of that back by ignoring the charts and trading on his opinion…LOL. Hard not to be bullish holding that much!
    
    If I were to trade ’em I would probably just wait for the base to build and maybe take a shot when it reclaims the 20ma and use that as a stop. After all these years of horrible earnings and bankruptcies, I guess I’m just a little scared.
    
    You really have an eye for the falling knife trades so maybe I should be asking you!…LOL
  - vxxkelly 1:32 pm on Monday, June 27, 2016
    
    Hey Iceman, I think you are sniffing in the right area’s. $BEAV, $COL and others that are tied to the Avionics industry got clocked hard today. So besides airlines, these guy’s might provide opportunities too.