Making a small adjustment to Visa. We bought June/April $95 calendar for $1.60 which is currently going for $1.40. The April $95 calls are going for only $0.29 and I am buying them back. Leaving straight June $95 call open.
Even if there is further deterioration in the stock, April $95 calls can't really provide the buffer. So, I would be looking for shares to rise back again to resell April $95 calls for $0.50 or higher.
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.
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