Monday, May 20, 2013

Friday May 17 outlook/recap

The /ES was trading around 1654 after having closed at 1649.

$JCP was out with earnings and I was hoping to score some 18 puts off the open but the stock opened under the 18 level and I held off on picking up any puts.

That was the only pre-mkt idea I had that morning.

$SOHU rumor hit at 0958, stock at 64.32. 65 call at .30 on 310 volume. It hit a high of 64.75 at 1011hrs only to sell off to 62.51 at 1122hrs.  Overall monthly OpEx volume was rather light on that rumor, nothing at all like the volume when the $BTU option volume that hit the street a couple weeks earlier.

I had considered shorting $GLD through either a short call spread, 133-133.50 for a .14 credit at 1036hrs or buying a 132.50 put with the $GLD trading at 132.40. The $GLD hit a low of 131.44 at 1100. The 132.5 put went from .70 to 1.25 and the 132 put went from .41 to .92

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