Sold 1×100 Research In Motion (RIMM) July $52.5 Put at 3.55, Shorted 20 more shs of RIMM at 49.93. Maintaining Delta Neutral
There are only 17 days left in the July 52.5 Put,
as RIMM is now standing at 49.93 and the $52.5 Put trading at $3.55 with intrinsic value of $2.57. The time value will decay fast as there are only 17 days left and if it becomes deep in the money.
we decided to sell 1 contract and keeping the other, which remaining delta neutral by shorting another 20 shs.
Covered 2×100 Research in Motion (RIMM) July10 $60 Call @ 0.18, Shorted 80 shs of RIMM at 52.04
The $60 Call that was part of the straddle we shorted is almost worthless, we decided to cover it at 18 cents, and shorted 80 shs of RIMM to make our total position delta neutral.
now we are longing 2 RIMM July $67.50 CALL, shorting 2 RIMM July $60 Put, longing 2 RIMM July $52.50 Put, Shorting 80 underlying.
Covered 500 shares of Advanced Micro Device (Nasdaq:AMD) at $8.60
AMD touched the 20 EMA briefly today before it started to rebound from its day lo at 8.48
8.71 Pivot Point is acting as today's reistance while 8.60 is the support for the past 2 hours.
we decided to exit this position as today could be closing as a DOJI, along with 20 EMA acting as a support, it could be showing a sign of reversal.
P&L + $150
Bought 2×100 Research In Motion (Nasdaq:RIMM) JULY10 $52.5/67.5 Strangle @ $1.96
RIMM's earnings tomorrow (June 24) after market close at 16:30 EST
to give ourselves some protection on our straddle, we bought a strangle for $1.96
Breakdown:
Bought $52.5 Put @ $0.95
Bought $67.5 Call @ $1.01
Now the opened positions are:
Long 2×100 July $52.5 Put
Long 2×100 July $67.5 Call
Short 2×100 July $60 Call
Short 2×100 July $60 Put
Straddle's net credit was $6.45
Strangle's net debt was $1.96
Maximum Profit on expiry $888
Maximum Loss on expiry $602
Sold 2×100 Research in Motion (Nasdaq: RIMM) July10 $60 Straddle @ $6.45
RIMM's down almost 3% after GS's negative comment. Vol is up. Both call and put's vol are up 100bps.
Trade Breakdown
Sold 2×100 RIMM July10 $60 Call at $3.10
Sold 2×100 RIMM July10 $60 Put at $3.35
net credit of $6.45
Key Risk: Greater than expected or Worst than expected earnings on June 24th.
Shorted 500 shs of Advanced Micro Device (AMD) at $8.90
We either really hate AMD or have a fetish on shorting them.
Here we are again, just shorted AMD.
Key Risk: Overall Market Rally
Target: 8.60 , 8.45
Stop: 9.20
Covered 2×100 Research In Motion (Nasdaq:RIMM) June10 $60 Straddle at $2.40
June is expiring tomorrow. RIMM is currently at $62 and we decided to cover our straddle at $2.40 today instead of waiting for another day as it is showing signs of reversal.
Yesterday's candlestick showed a doji and it is going to probably close higher today. OBV and William% are also rebounding
we sold our stradde at $4.28, covered it today at $2.40
P&L + $376
Sold Microsoft (MSFT) June/July $30 Calendar Put Spread at flat
both options are deep in the money.
with the June option expiring this friday, we decided to wind down the whole position instead of leaving the July Put open and having a downside exposure.
June $30 Put P&L: $-1440
July $30 Put P&L : $+2665.99
Covered 4×100 Goldman Sachs (GS) Jun10 $165 Call @ $0.14
Planning to short July10 $175 Call so that we will end up with a $165/170 call spread.
this is a strategy to lower our maximum loss while giving ourselves an optionality for upside exposure.
we are currently leggin to short the call ..
while we have already covered the June $165 call for 14 cents
P&L + $276
Covered 10×100 Citigroup (C) JUN10 $4 Put @ $0.30
cutting down our positions and lowing our VAR as I will be out of town during the week of option expiry.
P&L + $130
