Nice move on TWTR. I've added MSFT Aug 3 $105 calls here too. Thought about averaging down, but decided to go to a lower strike. And I've got some losses growing, taking a hit on those BA puts I added at the close yesterday. I'll use that as downside hedge. I saw the move in BABA just before the market opened this morning, and looks like it was due to China/US talking again on trade. The market's very jittery right now, any little talk of trade will move the market.
BABA is flat today but, I believe trade negotiations will get settled sooner than later! European Union signing an agreement with the US puts pressure on China and other countries to sign or be the last one! Lose to other countries because Chinese goods would be expensive relative to competitors with the same products! Most products nowadays can be sourced from multiple countries! There are price and quality differences, of course!
BABA is back to flat, but that morning rally allowed me to get out of those 185 calls. I also took time to review and exit a good chunk of my FB puts. I realized that I basically only have GOOGL calls left, and that's a very small position now. I did open a long position on MSFT today, so I left some FB puts in play as a hedge for that position. Other than that, there's CMG bouncing around that could be interesting for a quick 2 day rally. I also like MMM calls here even at these levels, and shares of MMM are more than likely up on that trade talk headline this morning. I don't see much rebound in FAANG, so that's where puts will be set this week if the market turns. This market will have plenty of reasons to move with AAPL's report tonight, FOMC decision tomorrow, and jobs data on Friday. I'm actually researching AAPL right now, and trying to set up a strangle. I think traders believe AAPL's move will be limited, but if the swings in FANGs have held true, then we should get movement. No position on AAPL yet, but took the opportunity to jump back into BABA 185 calls (1/2 position), and added CMG Aug 3 $440 calls.
I'm in AAPL, playing a strangle with a bias to the upside. We'll see if AAPL can hit that $1T mark tomorrow morning. Using AAPL 187.5 puts and AAPL 192.5 calls. I'll average into both side of this trade into the close.
Got into INTC Aug 17 2018 $47.50 Call Options. Looking for an upside move for the next couple of days.
Well, I needed AAPL to be above $197.7 to be profitable on my bullish strangle. Got just that and a bit more. I've rolled out of the AAPL strangle and opened a short term position using AAPL Aug 3 $200 calls just to test and see if shares can break above $200. I also closed out MSFT 106 calls taking the loss. Also jumped out of BABA calls with the weak guidance from BIDU. I played BABA for BIDU's earning, practically a synthetic BIDU earnings trade. Also added NXPI 95 calls today.
From a micro trend point of view, SP500 is trying to get back above the 400ma (grey line). (5 days, 5 minute candles, 400ma, Pivot Points) --------------------------------------------------------------------------------------------------------- From a daily candle point of view, not bad. SP was supported by the 20dma (purple line). (1 month, daily candles, 20 day moving average)
I like Ford for a lottery ticket type play. The Jan 2020 $12's are .44. I still think one of these days we're going to wake up to news that there's a deal between Ford and one of the 4 horsemen of tech.
Got out of my F calls at a very small loss. It doesn't look it will move for a while. INTC looks moving a bit. My calls on INTC might do better!
I believe the selling on INTC should be done. INTC's report was strong, except for one line. In addition, other chip stocks were solid too like LRCX and AMD all showing solid numbers. I've been adding AAPL 200 calls all day actually averaging up. I've also added JPM Aug $115 calls here betting on banks to continue running, and added a position on BA puts playing the downside risk on tariffs. I have to play both sides here, there's no telling what kind of headlines are going to come out and move the market, especially with a good chunk of the large cap stocks done with earning reports. I've diversified a bit here with more $1-2k positions instead of 2-3 $5k positions. Just noticed that as I added SQ Aug 3 $67.5 calls and QRVO Aug 82.5 calls today. Both are plays on earnings.