Well, took a loss on MW, profit in PAY and ULTA reports tonight. I'm also getting into LULU. 26% of LULU shares are shorted. If guidance comes out even slightly better, I think I'm going to see some shorts burning. Still, I'm going to see if I can get into a spread here.
I took my own loss today. A Nov SPY put that just wasn't going to work. Now that I have made the move to exit the trade the market will probably crash. I too entered and exited the trade without consulting our forum tool, diaoptions.
Just checked, ULTA rocking above $104 +9 in AH, looking forward to LULU trade also going higher. I'll give PAY 1-2 more days as that seems to be the norm in PAY's post earning price action. And today was not a good day for puts at all...except for PAY.
It certainly wasn't. Perhaps I should have said I sold the put rather than bought it like our forum tool would have done.
Alright, this is one of those week of making the profits back after just closing out the LULU sep 22 2012 70 calls at $7 avg. Loss of -522.95 on MW puts, gains of 314.08 on PAY puts, gains of 481.15, and gains of 1221.15. Sitting at $3,841.15 now. Sticking to earnings only trade here on out, I'm losing way too much chasing that poisonous apple.....lol.
Nothing last week, but there's FDX, BBBY, ORCL, and a few other names this week that should be interesting. I'm taking 3 FDX 90 puts around $1.65 now. I think a drop from $89 to $84-$85 should be in play for earnings.
I wish it was that easy.....I was on my finger nails all the way. Actually froze in the morning because I wasn't sure what to make of LULU's action in the morning. It opened around $68 or so went to $67 before finally pushing to $77. I hate those kind of actions. Out FDX at $3.20, easy 100% profit. Sorry, profit was +$439.10 on this trade. I'm in 3 CBRL Sep 65 call at $0.85. Small position testing it. Previous 2 quarters had CBRL open higher, but it reversed last time around. CBRL sitting at 50-day ma is perfect for a set up today giving upside momentum better opportunity.
Looks like I'm going to nail this CBRL trade too....hopefully I can get out before the volatility kicks in as it seems to always do in CBRL shares after earnings are reported.