Alerts & Commentary
Long Trade Summary
Since we are near year’s end, we have decided that posting details of our ongoing Long Trades is in most cases, moot, since we will be exiting many of them before the end of the year…
The goal was to give all of you an example of how we will report and comment on our new and ongoing trades once the service is fully functional. The AAPL example is a good model for how we will report our evaluations and actions when we get up and running.
But we do want to give you an idea of what we have been doing over this year so below is a summary of our significant ongoing Long trades with current status…
AAPL – See posts
ATVI – Net Long since March with JAN 15 Straddles, tightly hedged. On recent BO opened “spec” JAN OTM Calls.
CROX – Long in JAN, using step-up approach throughout the year until OCT when volume dried up near highs. Closed out Long on 10/17 and opened a “spec” Short position ahead of NOV earnings. After plunge to 35 we went neutral and remain so, selling ATM premium. By far our most successful trades this year.
ESRX – Long in March, added using step-up approach. Currently Net long but tightly hedged.
NVDA – Long in June, added using step-up approach. Sold 50% on 10/17, and opened a “spec” OTM 2 to 1 Short. Closed out the Short on 11/13 reversal and replaced with ATM Call sales. Added 50% to core Long on 11/28 gap up with JAN 30/35 Call Spreads. Yesterday we adjusted the position to Net neutral by creating a Net JAN 30/40 Strangle, selling DEC 35 Straddles.
RMBS – Net Long on reversal in AUG + 2 add-ons in SEP. Closed out Long at $20 and opened a JAN 09 20 Straddle with DEC 17.50 Puts, which is ongoing. On the recent breakout we added to hedge with DEC 20 Puts.
SNDK – Net Long in March. Closed a month later at Sell stop. In JUN opened 45 Straddle. Became a perfect example of overtrading. Finally, went Net Short on OCT breakdown and have recovered 75% of losses. Net Long again on 11/27. Currently Net neutral with DEC Puts and both ITM and ATM Short Calls. Not one of our better efforts, so far.
ISIS – Net Long in JUL with JAN 10 Straddles, 2 add-ons using step-up approach and with ST Put hedges. On weak OCT highs rolled out to JAN 09 15 Straddles. Currently Net long with Short DEC OTM Calls and JAN 15 Puts.
ELON – Net Long in FEB. 3 add-ons using step-up approach. On 8/8 Closed out Long position. On 8/24 we reentered with FEB 25 Straddles. When the stock rolled over on 10/19 we added Short “spec” trade with DEC 22.50 Puts, which were sold on 11/28 reversal along with the Put side of the FEB 25 Straddle. Also added a 1/3 Long position with FEB 10 Calls. Currently Net Long with FEB 10 & 25 Calls, Short DEC 15 & 17.50 Calls and DEC 15 Puts.
*
More later… More Long trades and Long trades that were closed on Sell stops and not reentered (Translation = Losers).
Coach BD
Please share your thoughts, concerns or questions about this posting:
