- Posted by chicagosean on October 14th, 2014 at 11:42 pm
There’s always a bull market somewhere. And in spite of horrible broad market conditions over the past week, $EXAS had a nice breakout on Friday on huge volume and held the new levels pretty well (considering the indexes have been getting killed).
This caught my attention.
The $18 strike was offering some pretty tasty premium so I threw an offer out for Nov 18 puts, and I got filled at 35 cents as the stock fell intraday. I attempted to take this premium and buy an upside call vertical to lever up the position, but the stock pretty much bottomed on my puts fill and trended upward for the rest of the day, leaving my cheap bids for the call spread unfilled. Oh well.
If an opportunity presents itself to buy a vertical call spread that I like with the put proceeds, I may make another attempt. However, I’m cool with just being short the puts and collecting some premium as long as the stock doesn’t back and fill that breakout gap.
Position:Short Nov 18 puts Net credit: 35 cents
Posted by chicagosean on October 13th, 2014 at 3:34 pm
Not sure what happened to my original Journal entry on this stock, may have accidentally deleted it (?)…. So, will recraft here. 9/24: Original position: […]
Posted by chicagosean on October 10th, 2014 at 12:01 am
10/9: I’ve been eyeing $EMKR since it broke out hard in mid-September, and I’ve liked the way its held this new higher range: Above is […]
Posted by chicagosean on October 8th, 2014 at 10:48 pm
I came across this line in an excellent blog post in @dasan’s archives that is blowing my mind and causing me to RETHINK EVERYTHING: […]
Posted by chicagosean on October 1st, 2014 at 11:40 pm
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Posted by chicagosean on September 28th, 2014 at 9:09 pm
9/26: Acorda $ACOR had a nice spike on Wednesday on huge volume, which appears to be setting the stock in motion to once again test […]
Posted by chicagosean on September 25th, 2014 at 10:56 pm
9/25: I’ve been enthusiastically following Lands End $LE since it had it’s monster breakout back on the 10th. I wanted to get in the next […]
Posted by chicagosean on September 24th, 2014 at 8:47 am
9/23: Monday’s breakout on HUGE volume to new all-time highs in $CLX caught my attention. The fact that its positioned less than 10% below the […]
Posted by chicagosean on September 21st, 2014 at 10:31 pm
9/19: On Wednesday, $TGTX broke out, setting a new all-time high print at $12.45. And this breakout was on the highest volume of the past […]
Posted by chicagosean on September 12th, 2014 at 10:20 pm
9/12/14: Recent Chinese IPO Weibo $WB has spent the summer tightening its range, most recently consolidating in the $19-$21 area. On Tuesday this week, the […]
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