And there goes the bounce intraday on BA. Bought short term calls using BA Feb week 2 360 call. I'll see how it runs for the next few days.
Thought I might see a turn around in the market and opened positions on CAT and BA this morning. I was wrong, sold CAT for a loss. I'll hold BA short term and see how that plays out next week. I also added PYPL 86/90 call spread ahead of earnings tonight. On the other hand, AMZN caught up to my OTM 1450/1460 call spread this morning. That's crazy right there. And NFLX just dropped to my 270 put level here in the afternoon turning those puts green now. This NFLX position had been red all day yesterday and this morning too, so I didn't expect a fast turn around.
Looked pretty bad in the AH with PYPL and FB both down. But I'll take the split. In fact, if I had to choose, I'd take PYPL down and FB up. Hopefully that holds up today as my position in FB is almost 3 times the 2 call spreads I have in PYPL right now. NFLX is in a good position for my puts, if the market doesn't drop by another leg, I'll close out NFLX on tomorrow. AMZN reports tonight and we'll see if I double up on my call spread. I'm hoping for something closer to 150-170% return on those AMZN call spreads though.
Will be locking in gains on NFLX put this morning. Wasn't sure I was going to make a profit on this put, but I nailed it. I will take the full loss on PYPL. The key now is on FB, I'm looking for an exit on those Feb 185 calls and I'm also going to add an AMZN put spread. I should be able to get a discount compared to days ago when I opened the call spread. That is exactly what I was hoping for.
Locked in gains on NFLX, I flipped FB closing my Feb 185 calls and setting up Feb week 2 190 calls. Also added AMZN 1340/1350 put spread. If AMZN comes in weak, I think -100 points or more is going to happen. I was looking to close out BA later today or tomorrow, but htat bounce this morning gives me confidence to hold. If the market holds I'll keep BA.
I just added MSFT Feb 95 call right here just above $2.00. I'm looking for MSFT to run higher from here up to $100 in the next week or two.
I tried setting up trades into next week, but this is enough for me. It's going to be about capital preservation right now. I closed out MSFT for loss, also closed out the FB calls for a small profit. I still have the entire AMZN position for earnings, and holding BA calls although I'll probably close that one tomorrow for a loss too if it can't hold $355.
The market's volatility is increasing. The swings heading into the close today was very wild. I was way too confident in the bulls with the additional positions in MSFT and I took a hit for it. I took 3 losses in the past two days with CAT, MSFT, and the PYPL call spread I played into earnings totaling -963. The only saving grace will be the AMZN position. As long as AMZN holds above 1460 by the close tomorrow, I should be able to recover that entire loss. The short iron condor I have on AMZN cost me about 5.30 per contract. I still have BA calls and AH move on BA is encouraging. The only issue is when this market moves wildly, it tends to go down and that's where I'll have to cut my loss on BA if I see things get worse quick.
Still holding BA calls. And I might have just turned AMZN into a beauty here. I closed out the put spread for pennies. I also legged out of my position on the AMZN Feb wk 1 1450/1460 call spread by getting out of the 1460 calls under $20. *If AMZN hits 1500, I'll close out the long 1450 call and call it day.
Wow, what a morning. Closed out the 1450 calls at avg 43.25 against the 1460 calls at 19. Locked in a nice gain of 4100 on this side of the trade. I did take a 315 loss on the put spread, but over all not a bad start to a down day. I'm done this week, the market is not giving any chance of a rally. We've got Nunes memo coming out soon and that could cause a mess that might just sneak into the market. It did look like Cramer on CNBC this morning was hyping up AMZN as it pushed right up to 1500 before Cramer stopped and the shares started its descent. *Still have the BA 360 calls, will hold them through the weekend. It is a losing trade right now, but within my stop loss.