what a drop in lnkd in before earnings.. i thought for a second it missed earnings and the show was already over..
i'm selling a calender .. LNKD - AUG 03 '12 + AUG 17 '12 115 Call Calendar Spread i'm doing this for a vol collapse.. figuring on even if it beats and it goes up 12 dollars the vol will collapse and still put me in profit..
lesson learned, i'll wait until the day before earning before putting on these positions, or, get much better at trading in and out of flies/spreads. with LNKD sitting at $92/$93 earlier, right at the center of my low fly 90/92.5/95, and with the implied move still at $10-$11, i picked up a 95/100/105/110 condor, which would have been the trade had i waited until today to make the earnings play rather than jumping the gun on where support would be found during the week. of course, i'm sure the stock will fall right in the sweet spot of $95-$99 to still put me out of the money at opex, but sub $95, i'd still be happy. we shall see what the mess becomes tomorrow. same with GMCR, still waiting, though i could have flattened the trade break even closing the 20/21/22 fly today, i'm going to hold it for tomorrow. did pick up the GMCR $23/$24 spread for a dime back on monday, sold today, but that directional trade was not part of the 'unbiased' experiment here for opex based off the implied move. still, helped paid for the flies, but could have easily gone the other way.
well... my short calender didn't work out... +SLD 2 LNKD - AUG 03 '12 + AUG 17 '12 115 Call Calendar Spread 0.58 USD SMART -BOT 2 LNKD - AUG 03 '12 + AUG 17 '12 115 Call Calendar Spread 1.88 USD SMART as you can see... i sold it for .58 bought it back for 1.88 260 dollar lost.. PANG...
this doesn't make me feel much better but.. + BOT 2 AAPL AUG 03 '12 + 620 Call + 615 Put Strangle 0.11 USD SMART 15:27:55 OptTrader 3.24 null SLD 2 AAPL AUG 03 '12 615 Put Option 0.35 USD CBOE 15:38:54 OptTrader 1.52 null entered at .11 the strangle at 3:27 exited only the profitable side at 3:38 for .35 cents
oh and buy the way... when i exited that trade i flipped around sold a bull put spread for .36 cents and it expired worthless.. + SLD 1 AAPL AUG 03 '12 - 610 + 615 Put Bear Spread 0.36 USD SMART 15:47:59 OptTrader 2.12 null