Folks, it pays to watch technicals and breakout/breakdown patterns. On March 8, I suggested buying LVS June 19/22.50 call spread on a breakout from converging triangle above $19/share. The spread was filled for $1.28 and as of this writing the spread has expanded to $2.00
The news this morning is first three weeks of gambling revenue in Macau broke records. We have fundamentals and momentum behind the stock. But this market has no memory from day to day. I am taking partial profits and closing half position for 56% profit.
Booyah!
About Me
- Fahad Khalid
- Chicago, IL, United States
- I have Masters in Business (Accounting and Finance 2003) from Michigan State University. I have been trading the market since 1998. Prior to picking up trading as a full-time career in 2008, I was a management consultant at Alvarez & Marsal and Conway MacKenzie for four years. I provided turnaround, crisis management and restructuring services to financially distressed firms. Prior to working in turnaround, I worked in Audit & Assurance at Deloitte & Touche for two years. Trading in the market has always remained my side business ever since I started college. 90% of the time, I trade through options. I love volatility skews and positive Theta plays. While I make a lot of directional bets, in general my favorites are to take advantage of high implied volatilities through calendar or butterfly spreads and vertical credit spreads. I never buy straight calls or puts and I do a lot of exotic multi-leg option trades.
Visitor Locations
