Thursday
July 16, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Confused? Don’t know if you are protected in a crash?
Call the office for assistance!
Today’s Number(s)
Yesterday and Today
Yesterday
It was a total non-event day despite the economic numbers, riots in Greece breaking out, and Yellen talking to Congress. The market was up for most of the day until Ferguson, Mo. – like rights broke out with protestors not wanting the deal that Parliament eventually passed. And why would Parliament not pass the deal – they are not going to pay back the loan anyway?
NFLX came out with earnings after the bell ans the stock shot from $98 to $107. Think about that for a minute. The stock just split 7 for 1 earlier that day, and then it has blow away earnings.
TODAY
Higher.
This market broke the shackles of Greece and China, tested its 200 day moving average, and is now going to continue doing what it wants to do – go higher. I expect to see today higher so program traders don’t have to buy stock on the open Friday. I also except Friday to be a small pullback. After that we will hit new 52-week highs by the end of the month.
OPTION TRADERS
Volatility is back to where is started before the Greece and China events had it briefly spike to 20%. It is hard to do put BWB’s for decent money and almost impossible to do call BWBs, but that sword has two sides and there are other great trades to do when hedges are cheap.
Great Class Last Night.
ONE – We reviewed how we are going to illustrate rolling short Iron Condors from week to week. We take an existing short IC that is making money and then hedge it. This hedged position will then act as a bodyguard for the new one sold, and that bodyguard was down for a credit.
TWO – We illustrated how I was peeling portions of the long butterfly hedges off to enhance returns – I call this twisting, but it is just really aggressive management of an existing position.
THREE – We talked about the last minute very, very wide call condor placed in NFLX as a bullish directional bet going into earnings when we didn’t have time to do a convoluted spread. This is going to be a nice winner on the open, and we will peel off most of the profits.
POT is held each Wednesday night at 7:00pm eastern.
Too True To Be Funny
It is funny how he was only bankrupt when going through his divorce. He is amusing and I congratulate him on saying what he thinks instead of what his advisers say will get him votes from both sides.
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Attorney Stuff
DISCLAIMER (Seriously!)
Trading is almost as much fun as black jack in Vegas, but without all the annoying distractions of free drinks, Broadway shows, gorgeous people with low morals, and free buffets. It also has about the same odds of success, so when you lose all your money you wont have to walk past a smiling pit boss. Even Bruce Wayne lost everything with options in The Dark Knight Rises, and Superman keeps his day job at the Daily Planet newspaper.
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