The stock market got off to a rocking start (sure why not?) today so things are continuing the trend of up up up. I just don't buy it, even if I am gradually enjoying the ride. Copper continues its red hot ride up, so if you didnt sell your TCK 50 options last week (like I did, for a modest 35%) You are sitting on +100% so congratulations- sell it already!
I sneakily ran some trades last week after usually waking up at 11. I bought some Puts on NFLX (Netflix) because I don't see the price justified, and yes everyone loves Netflix, but that just means there is a larger retail segment priced in to that, and the financials don't quite make it for me. I bought at 3.3 and sold at 4.5 so that was nice. On the flipside I bought some calls for Priceline- another in-my-opinion overly bloated price, on Wednesday which was up 30+% at the end of Friday, but I failed to put the expiration date for good-to-close, so on Priceline's nice move up today that 30% gain is now a 30% loss (on paper) Its how the cookie crumbles- I still think its a good trade that I can wring some dough out of, in the mean time I bought 390 PUTS for 3.8 (already up 5%, with the ask up 15%)
I expect the good times to end soon, I have a order out for covered calls of DGIT 30 for 1.2 (Jan) which will provide some insurance, and better reduce my position should they close about 30.
Good luck!
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