Opened up several new positions today and held a few that I was worried I would have to close at a rather large loss- depending on the next 9 days they may turn a decent profit.
I closed out my three Sep 11 92 Calls on UGL today for a healthy profit today and opened
-one Sep 11 101 Put. I'm expecting the gap to at least be filled (~95) and hoping that it runs down to the 20 or 50MA, before rebounding and either running up, or turning over and heading to the 200MA.
- a Sep4 11 40 Put on the Vix. I'm playing this one by ear and my just roll the delta lower if there's no clear signal for profit taking.
-one Sep 11 62.5 Call on KO
-one Sep 11 25 Call on CPX
-one Sep 11 145 Call on BIDU
-one Sep 11 370 Call on AAPL
Other currently open positions
-two Aug 11 360 Put on AAPL (this one was a little scary for the last several days)
-two Sep 11 370 Put on AAPL
-three Sep 11 30 Put on CPX
-one Aug 11 360 Put on ISRG (this is not a pleasant thing to own at the moment- close to 1.6k unrealized loss and it was closer to 2.8k this morning. I ran a credit spread on this one and sold my put yesterday just before close, which has offset the loss pretty well, but it's still steep. I have 9 days for volatility to drop, the price to rise, and time decay to do its thing, so I may still be able to turn a healthy profit on this one)
Now that the market looks like it's ready to trend again, I'm back to capital gains positions instead of income positions. The plan is to take profits within the next 1-10 days on all positions. Depending on the way the market behaves in the coming days, I'll either close the positions or roll the delta. If we close below today's low, I'm expecting a pretty wicked panic and will probably go ahead and close my positions, eat the losses, drop for gold and heavily leveraged bear loving. I don't expect that to happen, but am prepared for it if it does. As it stands I have small unrealized gains on all of the positions I opened, which is nifty.