SPX chart and VIX Indicator have been updated. Have a good night, all!
OK, did something today that I wanted to do on a pull back, but it just isn’t pulling back. It will now though since I made this trade today. Bought the July 15 $152 Covered call for $137. It was not the optimal entry point, but after the pull back and quick rebound today, I went ahead and put the trade on. I know $NUGT could be at $120 by friday, but there are a lot of reasons for Gold/Miners to continue to go up and very few (other than some profit taking) for them to go down right now. I basically had to ask myself the question, “if this thing pulls back to $120, do I think it will go back above $137 or $152 in the reasonably near future?” I think that is almost a certainty. If it did pull back, I’d also get a shot to sell another call against it.
So if Fuzzy’s put sale doesn’t cause this stock to tank, this trade certainly will.
Tomorrow someone will announce a product that turns the Florida toxic algae into Gold for $100/oz
$UVXY #LongStock – sold a bit more of UVXY at 9.67 before it fell back to earth.
Also sold strike 10 thru strike 12.50 calls for this week to partially hedge the risk.
Is there some news or is it just short covering
$PCLN #ironcondor STO Aug 5 1050/1040/1450/1460 for 1.49 with PCLN at 1262. Earnings are a couple days before expiration. Adapted a TT strangle
STO August 32 put @0.80
STO August 36 put @1.30