My BAC strangle did well, with the BAC $9 call becoming well in the money. Yesterday, I saw weakness in BAC in early trading with high volume, so decided to do profit taking. I sold it for about $5.2/contract. Instead, I bought 2 BAC calls of the next month at strike $20 in case the rally continues. Even if the calls expire worthless next month the overall gain on this trade will be more than 100%.
The $40 investment on CTIC is giving good results! I am still holding on to it.
FSLR and WMT put spreads are doing fine so far. I actually added some more to them as I thought they are profitable. I also sold WMT put spreads for June with $45 an $42.5 strikes.
FCX did so well. For FCX, buying call options would have been the most profitable. I actually sold some $43 puts (buying $42 puts). They almost became worthless in a matter of 1 day!
I actually entered two more trades today for June. I sold INTC $14 June puts (buying $13 puts). INTC is not too volatile (similar to WMT), and pays dividend. There is some recent news keeping it down, so I look at it as an opportunity. There are not much insiders owning it though. I will watch it and if I feel further weakness, I will consider some action :)
The other trade I entered which made more sense was put spread on VZ. VZ had some recent insider buying at $30.5, so I sold June $28 puts buying $27 June puts.
I was almost triggering to do an option strangle on PCLN with Monday earnings report. However I got scared of the time decay effect. I may instead write June put spreads after the report.
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