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CLOSED – Long Vol in Facebook
Buy to Open $FB Sep 167.50 Straddle @6.15
Add to trade at 5.70
Breakout Play in BIDU
Buy to Open BIDU Oct 230/250 Bull Call Spread @5.28
Stop out on 30 min close under 215.98
Take off half at 235.25.
UPDATE
First target hit, selling half here:
Sell to Close Half Size BIDU Oct 230/250 Call Spread @8.50
UPDATE 2 (Sep 26th, 2017)
Sell to Close BIDU Oct 230 Call
Buy to Open BIDU Nov 250 Call
Credit: 5.05
UPDATE – Oct 10th 2017
Closing out the trade for a profit.
CLOSED – Scaling Calendar Trade in BABA
Buy to Open Oct/Nov 170 Put Calendar @2.65
Will Add to the
Trade if BABA Touches 180 or 160.
UPDATE
Closing Trade for a Profit
Sell to Close BABA Oct/Nov 170 Put Calendar @3.13
Full Time Profits, August 24th 2017 – BABA
Volatility continues to pick up… on both sides fo the trade. After a strong breakdown, there was very little followthrough. This led to a big gap higher into the range. So far it feels like another failed breakdown. I’m keeping a close eye on the open trade from August 17th… if the market can get back above that and hold, then we’re going to run hard into 2500.
Trade #1: BABA
Stock had a great run after earnings. I’m expecting it to pull back and establish a new equillibrium range. Into that pullback is where I want to short put spreads. I’m looking at the 10 day moving average as the first support level.
Trade Setup
Expected Price: 167
Sell To Open BABA Oct 145/140 Bull Put Spread
Tier 1: Enter at 0.65, Exit at 0.15
Tier 2: Enter at 0.95, Exit at 0.65
Tier 3: Enter at 1.25, Exit at 0.95
Full Time Profits, August 21st 2017 – AAPL, CELG
Markets finally saw some selling come in. Volatility is getting back to a “normal” level (at least for me).
I’m not incredibly bearish on the market… all I really thought here was that we could see vol expand and retest the lower end of the range at 2,400. Going to be using this weakness as an opportunity to scale into some put spreads.
Key support is 2400, if that is lost then 2350 is the next key pivot level.
Key resistance is 2436– if we manage to get above that level and hold into this week’s end, then it’s a failed breakdown and will bring in more buyers… then we’ll probably run to 2475.
Trade #1: AAPL
I won’t lie to you, this feels like a “wishful thinking” kind of trade. Odds are AAPL stays strong and continues its uptrend.
Yet, if it doesn’t… and sellers really step in here.
150 is key. Gap fill and rising 50 day moving average. That’s a spot I’ll take every time.
Trade Setup
Expected Price: 150
Sell to Open AAPL Oct 135/130 Put Spread
Tier 1: Enter at 0.60, Close at 0.10
Tier 2: Enter at 0.90, Close at 0.60
Tier 3: Enter at 1.20, Close at 0.90
Trade #2: CELG
2-year breakout being retested. Classic pb2bo pattern.
Trade Setup
Expected Price: 127
Sell to Open CELG Oct 115/110 Put Spread
Tier 1: Enter at 0.60, Close at 0.10
Tier 2: Enter at 0.90, Close at 0.60
Tier 3: Enter at 1.20, Close at 0.90