Friday, June 7, 2013

Long SPY calls

Entered into SPY 152 Jun 22 calls at 10.02 basis and SPY Jun 154 calls at 6.2 basis. Was fairly underwater yesterday about 10% before the afternoon rally. We are oversold and unless the jobs number is extreme, we have a strong chance at a 3+ day rally. Target is 166ish for price and latest end of next week to exit the positions.

May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...