Jan 9 #Fuzzy Trades
This was a REALLY busy day. Let me start by saying these first 6 trading days of the year have been just amazing. Pinch-myself-amazing. So I’ve starting peeling some things off. Fuzzies that have upcoming earnings, or have had a lot of debit rolls and were yet again ITM just got yanked today.
1. Let me start with SPY….I no longer can account for where I am in the core debit reduction on my collective SPY trades. Hedges and unhedges are flying around my office like Chinese throwing stars. The best measurement I think is just nightly P/L updates on SPY until I’m flat.
SPY YTD: $4883.00
I still have 40 SPY Fuzzies that are hedged, and I may look to peel those off tomorrow and go flat, preparing for a reset.
2. CVX calls were down to about .20 extrinsic, time to roll. BTC Jan12 127 c 1.71, STO Jan 26 128c 1.77.
3. FAS (x20) same as above on extrinsic. BTC Jan 12 70c approx 2.40, STO Jan 26 72 c approx 1.87
4. DIA bought 15 unhedged fuzzies yesterday for trend trade, sold today for net $840
5. LMT facing another large debit roll and upcoming earnings, and protective puts increasingly farther away, closed 20 of these today for net profit of $5191.00. Anxious to reset with tighter puts in spread and distance—beautiful fuzzy!!
6. IWM same story as above, net profit is $2627.00
7. MU used the AS-BB osc to close a hedge for $1430.00 profit at osc low, then re-hedge. BTC Jan 26 47 c @ .54, STO jan 19 46 c @.47
8. RCL has had terrible technicals for weeks, used today’s strength to play against significant profit taking in other positions and remove this for loss. Net loss $1670.00.
9. EXAS Hedged 1/2 of my 20 fuzzies before their presentation this afternoon at the JPM medical conference STO Jan 19 55 calls @.75. The other half is still long term focused w/o hedging.
10. MNST so much for “Lazy River Fuzzies” BTC Jan 12 64 c for 1.34 STO jan 26 65 c for 1.32, got a buck for .02.
New Fuzzy: CRM Feb 110/110/105 for .32, sold Jan 19 110c for .74. Used Feb to avoid earnings. You read this right, the first-round hedge has already covered the cost of the core trade.
Really Fun Stuff:
COST Fuzzy Bear STO Feb 190call/BTO Feb 190p/BTO Feb 195c x 5 Unhedged 3.99 debit I put this on when underlying was trading close to 188 today, so there is nice profit. It’s very quickly approaching support, will need to play chicken with a hedge decision on this. Looked like squeeze would fire “bear” to me.