Worked:
Getting out of XLF calls options early this morning @ .30 with a 7% gain. I trimmed the XLF calls yesterday with a 35% gain. It was a good move because these calls flipped and closed down 13% from my buy point. They would be down even more tomorrow with C selling more stock for cash.

V - I got into Visa +VEP May 80 calls when I saw V trading up above its 50dma on the 10min chart. I got in @ 1.7 and sold at 2.45, some at 2.5, but mostly at 2.45. Look a 44% gain is nothing to sneeze at, but I knew this option was going to be in the money and this damn red bar caught me. Fuggin thing went above 80. These calls closed up 94% from my buy point and that was around 12pm. So yeh I’m a little pissed.

GLW calls - Corning came out with good earnings. I had a sweeeeet gain on the open when GLW gapped up to 27 which is resistance and typically GLW is not a mover of a stock. I should have known better and covered up near the open for around 35% overnight gains, but I didn’t. I hung and waited for an opportunity to get out. I got 11%. The important thing was the trade selection. It was right.

Sucked:
Being long the indexes. The split position lost a little less than 1%.

JOYG calls - These June 80 calls are down 36% from yesterday. Which blows, but I have time on my side. I won’t hesitate though to take a loss in these.

MSFT calls - Basically have been premium sucked dry. Down 93%. They are likely going to expire worthless unless I can salvage something out of them.

—

I remained long overnight the indexes with the fed announcement tomorrow anything can happen.

I also bought IWM calls.

Dennis Gartman thinks the commodity bubble has popped for the next couple of months (6 maybe?).

Thanks for reading

Want to know when I post again? Subscribe to the StockRake feed: .