Folks, wonderful start for the week.
TBT is rallying again this morning. We bought April 47/50 call spread on Feb 26 for $0.77. Here is the link: TBT Call Spread. I am closing half of my position at $1.45 or just over 100% profit.
Remember, we bought LPX March $7.50 calls for $0.40 as an earnings play and closed half for 100% profit. The stock has extended gains even further, but I am still holding the remaining half. The stock is still way undervalued in my opinion. Will assess later this week. Link: LPX Straight Call
AKS is finally cracking lower again this morning as Goldman downgraded the stock from Buy to Neutral. I am still holding my iron condor and expect it expire worthless. Link: AKS Iron Condor
I had a trigger set for RIMM to go long June 75/85 call spread as soon as the stock breaks $72.25. I filled the order for $2.90 this morning. RIMM Call Spread
Good luck!
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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