A weaker day and uglier close for the SPX, but still an anemic VIX with a lower higher and only a slightly higher close than yesterday.
#ShorCalls Just before the close sold to open March 24th 27 Calls @ 0.42
#Earnings Sold to Open $PLCE March 17th 95/90 put spreads for 1.10. Over last 12 earnings, PLCE has been negative only ONCE eight days after the report. 8-day moves: Biggest UP move: 20.0%, Biggest DOWN move: -6.1%, Average move: 7.4%. This trade is 4.7% OTM.
Going with a spread since I’m not feeling like being naked after the PANW burn last week.
#Futures – Adding a new position using fibwizard’s call strike from his SPX trade earlier. Going a roundabout way to make it a no risk to the downside trade…while setting up a nice short entry if we rally big.
SOLD /ESM7 (June) @ 2366.50
SOLD /ESM7 APR 17 (Wk3) 2425 PUT @ 66.25
1. Position makes 7.75 on anything below 2425
2. I’ll go short /ES at a basis of 2432.75 on anything above 2425
3. Anything in the gray area between 2432.75 and 2425 is profitable with closer to 2425 being better
This is an experiment….looking at it now with all the numbers in front of me a better play would’ve maybe been to sell a slightly lower put to capture more possible gains while getting a short basis closer to 2425.
#ShortCallSpreads – Bought to Close UVXY MAR 17 2017 30.0/35.0 Bear call spreads @ .06 (sold for 1.22)
Bought to close TMUS Mar 17 60 straddle @ 3.20. Sold for 4.30 on 2/15.
My goal was to take this off at 25% of the profit so I’m sticking to the plan.