Monday, July 29, 2013

Friday the 26th Recap

Things started off weak with the /ES trading lower and the $TNX trading lowering as well. I figured the odds were in my favor to play shorts in $PCLN and $AMZN. The TNX closed at 2.56 and the /ES rebounded to 1687.25

I jumped on an $AMZN 390 put which happened to be at the high of the day, w/in 5 minutes at .90 and rode it down to .21 by 1000hrs. This was my own fault for not playing a strangle off the open. If I played a 295/305 strangle off the open I could have picked it up for $2.00 and sold it for $6.00 to $8.00 later in the day.

$PCLN immediately rebounded higher before ultimately closing at $907. This was atypical as it usually trades in almost lock-step with $EXPE on earnings and $EXPE got annihilated on the day.  

Actionable play: 

At 1045hrs, the $SPY and the market as a whole spiked lower from 168.36 to 167.52 by 1055hrs. I had considered putting on a 168/167 strangle for about .31 but held off. This could have been sold for about .90 by end of day.  

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