Recap Wednesday
Mixed markets today, I see. S&P and Nasdaq closed higher, Dow closed lower.
We're getting close to the end of the August options. At least when it come to fitting into our rules. There are 23 days left, I believe, and prices are getting low enough that it's becoming somewhat difficult to find positions with the returns we want with the strategies we've chosen. (I do promise to do a long post and ongoing page with that info for you.) It's interesting to see how things are going.
Ongoing Positions:
GLD -- Short Call vertical at 128/129, so we want the price of the underlying to continue to stay under $128/share. It's done that nicely that last few days, and so far, we have unrealized gains of $7. It'll be interesting to see how this plays out, and if we stay in it all the way to expiration week, or if we meet our profit goal. I'll keep you posted.
TWTR -- Short Put vertical at 36/35, so we want the price of a share of Twitter stock to stay above $36. So far, so good, though we've got an unrealized loss on this right now. We do have the OCO stop orders in place, so right now I'm keeping an eye on it.
Recap of Orders placed last night:
We tried to get into 4, but we only got into one. I guess that's good in that the ones that didn't get in might have been problematic in the long run. But it'd be nice to be in more positions.
MU -- that's what we got into today. A short put vertical at 32.5/32. August expiration. I put the stops on tonight so we've got our profit goal and our loss stop set up, per our rules. So far, looks okay. We'll see what happens. This is now a monitor and wait trade. We'll keep an eye on it and see what happens.
And now the ones we didn't get into:
KO -- Coca-Cola: We put a condition on this order to see if the downward direction "stuck." Well, that did happen, but we didn't get filled. Today there aren't any deltas in our range, so we're not getting it.
PLUG -- our condition didn't happen, so we didn't get in. Now, nothing fits our deltas, so we're not getting into this one at the moment. Will keep an eye on it and see what happens though. It's on our list.
CSCO -- see above. Condition not met, and the stock actually gapped down at opening today. that'll be interesting. I tested out the call option seeing that it might be at a resistance level and therefore turning down, but it doesn't fit our return rules at the moment.
New Potential Positions for tomorrow:
QQQ -- potential short put vertical, but now outside our ranges.
SPY -- same as above, but returns don't fit our rules.
IWM -- same as SPY.
And that covers our list from yesterday to watch. Time to attempt to find a couple new ones again. Wish me luck!
FB -- Looking at a short put vertical, but the bid/ask spread is outside
AAPL -- Good news on the earnings call today so the stock surged, and it fits all my rules. So I put on the August 95/94.29 Put vertical. I'm thinking it will continue the up trend that's been established since the split.
BX -- The Blackstone Group -- a publicly owned investment firm. It hit a 12-month high today, so I think this is going to continue the upwards trend. However, since the high could become a resistance level, I put a condition on the short put order that the stock has to hit $36.28 before the order is triggered. So we'll see what happens. I would like to get into it, and the rules and numbers all work, so hopefully the August 35/34.50 put vertical will work out for me.
Well, I got two potential new ones to go on. We'll see what happens next! In the meantime, happy Wednesday. Hope it's been a great day!
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