Sunday, May 26, 2013

May 20-24 Recap

Recapping the stocks I was watching May 20-24:

Monday, May 20:

$PCLN - caught an upgrade which saw the stock trend higher. The 850 call opened around $4.00 and hit a day high of 8.00 around 1500hrs as the stock opened around 828 and hit a high of 843.

$XOM - Opened around 91.50 and hit a high of 92.70 around 1200hrs. It hit a week high of 93.50 on Wednesday. This was all preceeded by option buying on Friday the 17th. The weekly 92.50 call opened at .40 and hit a high of .75, and a weekly high of 1.10. 

Thursday the 23rd:

The market was looking weak after the selloff the day prior due to Fed comments and Fed minutes. $GS was hoving above that 155 line and I was looking toward some weekly 155 puts. It opened around 156.50 only to sell off to 154.60 by 1000hrs. It then rebounded to 158.80 on the day, closing at 157.40. The put could have been picked up for around .60, it then hit a high of 1.55ish around 1000hrs before losing value due to the stock rebound. 

Though not noted on the blog, I had in my journal noted $HPQ calls off the back of its earnings news. The stock was already up considerably in the pre-mkt, but had I traded the trend it would have been profitable. Specifically looking toward the weekly OpEx 24 calls which ripped from .12 to .93 on the day.

Friday the 24th:

There was a lot going on Friday. $IOC was up considerably in the pre-mkt, at all time highs of $108. I had wanted to enter a $110/105 weekly OpEx strangle but it didn't work out off the open. The puts were flying off the handle on the open, and the stock got smacked all the way down to 85. The 95 put opened at .15/.20 and hit a high of $9.00. Unreal! This is why I love playing the huge pre-mkt swings with the options mkt. Nothing is ever priced accurately in the pre-mkt. Also, the July 90/75 put spread was bot 2500x around 1015hrs when the stock was trading around 96, and that guy killed it. 

$CRM was out with earnings and off the bat the weekly opex calls were being bot, with the stock rebounding somewhat only to sell back off. It hit a high of 43.80 then a low of 41.80 at 1030. The 43 put could have been picked up for .60 off the open and sold for about 1.00.

$ANF got crushed after coming out with earnings. It was down in the pre-mkt, then sold off huge off the open. The weekly opex puts killed it as the stock opened at 50.80 then hit a low of 48 around 1000hrs. 

$SHLD I had suggested a strangle but disregarded on that idea once I realized it no longer had weekly options.

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