Closed out the rest of BZUN along with SQ Jun 55 calls and MU Jun 55 calls. I also closed out AAPL Jun 185 calls taking the loss. I did add INTU calls this morning at the open as it is playing out like one of its historical move where shares opens lower and then trends higher throughout the day finishing higher and continuing higher over the next few days. But I'm not sitting around and letting the MU gains fall like I did with the remaining SQ calls. I'm locking in profits and holding it until end of Summer for major positions.
I had closed everything except for INTU this morning and practically checked out, but the NFLX hit my alert and I jumped into a NFLX Jun wk1 340 call position today. NFLX broke out of all time highs, and this usually suggest more momentum in the same direction over the next few days. I'll hold this probably into next Tuesday.
I like the way you use historical data on these high volume/high visibility stocks to prognosticate the near term under certain conditions. Thats smart. You've proven it works.
It's actually crazy how INTU played right into its historical data. That's why my number 1 phrase is "history repeats itself". I didn't even have much trust in the INTU position, hence, I only have about 1.5% of my account in that trade. But I wanted to test it out and it looks like it's working so far. For those that don't follow INTU, I was looking at INTU's price action for its May 2014 and May 2016 earning reports, and anticipated that same move as a possibility. I still have the INTU position, going to give it a 2-3 day hold. I also have a full position on NFLX Jun wk1 340 calls with my risk just under -6200.
I sold 1/2 the INTU position this morning, small position so not a big move in my account. I am still holding NFLX and watching it try to break $350, but there's a lot of resistance at that level right now. Also added LULU today with the Jun 105 calls and Jul 110 calls. Where I plan to exit INTU and NFLX on targets, I have no target on LULU and will just let it ride or hit the stop loss I set up at about 50% of original cost. The risk on LULU is only about 3% of account so it's nothing big, just testing out a theory.
I also closed out of 1/2 NFLX position yesterday. Above the 100% return, I figured I would take my portion of the trade off and play with house money. Still holding the other half of INTU and I do have the LULU position, and testing a theory on that position. I also want to test another theory, my momentum expectation on ADSK. I'll look to add an ADSK position this morning at the open.
I added ADSK Jun 135 puts. I haven't tested my earnings reversal momentum strategy in a while, and with ADSK reporting a weaker guidance, I figure this would be that chance. I will be looking for about a 10% drop on ADSK following today's closing price in a 2-3 week time period. ADSK guided Q2 eps to 0.13-0.16 vs. 0.18 est. That line should be worth -10% on ADSK. I want to see if this strategy still holds true.
This week was a big one. Where I only closed out 2 trades last week, I cleaned house this week ahead of the Summer months. I tried to hit that $100K, but didn't quite reach it. Trades closed this week were AAPL calls for -3600, the entire SQ position for +540 (had over 6K in unrealized gains at one point). With that mishap on SQ, I closed out MU position much faster locking in +$11K. NFLX was closed out for just under +7600 today (closed 1/2 yesterday), and INTU position locked in gains of 975. The BZUN profits this week came to +3600. Overall, the profits this week came to about 20.3K and I'm sitting at just under 98K with 3 opened positions (2 LULU calls).
This week was a big one. Where I only closed out 2 trades last week, I cleaned house this week ahead of the Summer months. I tried to hit that $100K, but didn't quite reach it. Trades closed this week were AAPL calls for -3600, the entire SQ position for +540 (had over 6K in unrealized gains at one point). With that mishap on SQ, I closed out MU position much faster locking in +$11K. NFLX was closed out for just under +7600 today (closed 1/2 yesterday), and INTU position locked in gains of 975. The BZUN profits this week came to +3600. Overall, the profits this week came to about 20.3K and I'm sitting at just under 98K with 3 opened positions (2 LULU calls and the ADSK puts). Overall, I nailed the entry points on these positions, but exited too soon on all of the winners. My loss on AAPL could have been much smaller if I didn't check out sooner too.
I am just about done in the heavy trading for the next 2 months. I wanted to park some of my funds in a position that has a chance to make a move. First off, I clearly screwed up the exit on MU, SQ, and NFLX. After getting that out of the way, I do have a position on LULU with the Jun and Jul calls. So, I went back and added a position on SQ using the Jul 55 calls. I wanted to park about 10% on this position setting up a 50% stop loss while leaving the position alone. I've started adding the position but am not done yet. Other than that, the ADSK puts are moving as expected for a momentum reversal, and LULU is actually holding up well.