Monday, April 13, 2015

April 13 Monday Notes

ES: -2 pts, or 0.1% at 2095
VX: -1.5% at 13.22
CL: +1.04, or 2% at 52.68

P: 6%, 162k - moving on news Spotify is worth $8.4b. Doesn't make sense to me because Pandora sucks which is why I have Spotify.
QCOM: +4.3%, 905k - Jana Partners encouraging breakup
KNDI: +2.7%, 16k - Subsidiary joint venture co. to explore IPO in China
NFLX: +3%, 85k - u/g by UBS and preparing for a stock split

SYMC: -3%, 9.3k - Popped on Veritas sale rumor on Friday afternoon
SINA: -3%, 16.5k - News that China might shutdown Weibo
GE: -1.2%, 2.3m - Had monster rip on Friday

Friday Recap:
Slightly OTM strangles, or straddles, were super profitable on CMG and BX off the open. Would have also worked on NFLX and LNKD, though not as great as the prior two were. CMG options opened late with wide bid/asks which kept me out of it. BX was thinly traded, I was the only volume in the weekly opex 40/39.5 strikes on the open but the IV was priced way too low (19%) for how it traded in pre-mkt/news. I also put on an ACT 295/290 strangle when I saw action in the opex 290 calls in excess of OI. I got in at .35 and exited at .50.

I also wanted a 69 straddle on AZN on the open because IV was also stupid cheap but lack of liquidity prevented me from entering, would have been profitable on the day as well.

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