Monday, April 20, 2015

April 20 Monday Notes

Happy 420 to all the raging pot heads out there! Let's see if I can post this stupid thing up before 915am est.

ES: +0.55% (11.25) at 2087
TNX: +1.08% (.19) at 1.869
VX: -1.44% (-.225) at 15.45
CL: -0.5% (-.27) at 57.02

GRPN: +4.7% at 7.55, 256k - selling ticket monster stake for $360m
MGM: +2% at 21.85, 32k - hires Evercore, possible REIT conv.
MS: +2.3% at 37.65, 407k - Earnings
FB: +1.1% at 81.67, 182k - DB: Checks point to solid Q1 results
HAL: +1% at 47.25, 90k - Earnings

YNDX: -2.9% at 19.99, 25k
TEVA: -1.25% at 64.10, 101k - It had popped from 62.75 to 65 in last 2.5hrs of trade on Friday

Friday Recap:
Getting long an opex straddle/strangle has continued to pay, at least for me. STX was my play on the open, see my Friday ex post facto blog post for the details on that entry. 

AXP was in my wheelhouse for a non-directional as it had posted earnings that AM and wasn't finding support anywhere in the premkt. An OTM strangle would have worked on this as well, but I was tied up with STX math going into the bell.

NFLX saw a continuation move from earnings the day prior. I had considered an OTM strangle on this as well but IV was relatively juiced at 50% off the open. It would have been profitable but I didn't like where IV opened.

NOW posted disappointing earnings the day before and other stocks saw sympathy moves with it. WDAY and DATA were both trading about 2% lower in the pre-mkt, then dropped about 5% after the open.

TT Track of the Day:
Sending out today's TT track of the day to my pot consuming friends, a triphop beast from the mid 90s: Portishhead's track "Strangers"

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