Thursday, December 8, 2016

Dec 8 - Booking partial gains

Sold 1/2 Jan ITM XOP, COP, IWM calls from pre-election for 60+%.  Sold 1/3 VXX Jan/ Mar DITM puts which are up almost as much and will slowly scale out of them in upcoming week.s  I had sold off the OTM Jan puts last week.

The Mar VXX puts which I had touted as the trade of the year is crushing it.   Post is here.

I bought  Mar VXX 55 puts @ 21.75 and now they are at 29.5

Bought some GLD 114 Dec 30 calls @ .44 as volatility is diminishing and I could easily see a bounce to 117-119

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July 21 - Still massively long banks, took short term longs in NVDA, BABA, HAL, OAS

Probably 2/3 of the options account is in banks.  Maybe 1/2 regionals and 1/2 XLF, C, BAC.  Expecting another run up in equities into Augus...