Thursday, May 22, 2008

Position update

DRYS: Bought June105 calls at 3.1 when it spiked down through 92, stop at 88/90.

EXM: Bought June 50 calls at 3.1, stop 45/46.

Not out of the woods yet by any means, but I like the r/r ratios at this level.

On the second thought, may stop out all long positions if all major indices break yesterday's lows on large volumes late in the session.


RazoR said...

just bought drys june 70put lets get it on!

flyingwabbit said...

wow! wait a minute here, razor, are you sure you bought puts??!!! Damn it, do you have to make it difficult for me on drys? hmm, this changes everything considering your stellar trading record on drys, damn....

RazoR needs beer said...

Nice skim on those calls crystal ball here, when it broke 95 I had to get protection so now I'm hedged for 20pts either way...gawd I'm glad I dumped solf at 28!

pcaguy said...

AAPL: down 1.14 to $177.05
Still holding 20 calls June $180 at a loss. Added 35 AAPL June 185 calls APVFQ at $4.59 cost.
RIMM: down 2.40 to $130.49
Still holding 10 June 130 calls at a loss. Added 10 June 125 calls -RULFE at $9.05 cost. Going long RIMM was stupid.

POT: up $4.14 to $199.74
Sold 5 June 190 calls for $2 profit this am. Later bot 20 June $195 calls -PYPFW for $10.94, good trades.
MOS: up 1.84 to 122.51
Sold 5 June 13o calls for $1 profit. Later bot 5 June 125 calls -MTJFE for $5.42 cost. OK trades.

PLCE: up 4.63 on E.R. to $32.98
Bot 15 July 40 puts for $6.51 cost. The jersey boys bid this baby up in the last hour. I expect them to stay strong for the next 3 days and I may have to defend this position. I think shorting most retailers will be a good play.
CRM: up 3.65 to $66.31
Good E.R. and upgrade by Jeffries. Bot 10 July 70 put -CRMSN at $6.42 cost.
LDG: up 3.65 to $66.31
Bot 10 July 50 put -LDGSJ at $3.72 cost. Already a winner.
SAFM: up 3.71 to $47.71
Bot 20 July 50 puts at $4.25 cost. Bid up in the last 15 minutes. I will have to defend this for a week or so, I expect.
UNG: took $1.50 profit early in the day while it was up. UNG dropped about 50 cents later.
DRYS: down 10.23 to $92.127
I could not pull the trigger on the puts or calls. Heck, if RAZR is short and WABBIT is long how am I supposed to know ?

RazoR said...

Hey Pca was there any stock you didn't play today? I admire your aggresive play!
Just a heads up, I bought some common in eslr today, 8 times volume, new 1bil contract, could be another solar squeeze...

pcaguy said...

I got a little crazy today.
I wanted to buy ISRG at $272 and never got into the trade because while it was in the $273-274 I was busy doing crummier trades. I had missed ISRG at $272 in April and regretted it. It turns out that ISRG is being added to the S&P 500 so the after hours bidding is up to $288 from the $275 close. I let a measly 50 cents in the price keep me from an $14 winner. I hate that.
I wish I had not gone long RIMM especially and I question my long position in AAPL, too. I think RIMM could turn into a big loser if I lose my patience.
I had bot puts on CSIQ a week ago and bot them back with a dollar and today CSIQ dropped back 5.89 to $37.9. I have trouble getting long the solar stocks.
What is your current feeling about DRYS and EXM ?

RazoR said...

last earning drys went down then retested the er high then plummeted so I'm not suprised at the action, I have common at 98 and a 70 put that I bought for protection, after I bought it 600 more contracts went off there so I'm not the only idiot....on second thought I also think eslr is going to stiff everybody so hopefully I can dump the common and buy a sept 17.5 call, you seem to have a lot of play money son!

Thirst said...

I'm currently on a Calendar straddle on Drys. long september 115, and short june 115s paid a net debit of roughly 6.1. also bought some june 95's outright for 6.9. We're right at the 38% retracement and right above the breakout at 90. We might attempt to dip below that 90 and bounce back up hard.