Adjustments and Comments on Open Advisory Letter Trades
JWN – Sold 10 Mar $42.5/37.5 bull put spread for $230. Stop Loss: $42.18.
RH – Sold 10 Apr $25/20 bull put spread for $400.
RH – Sold 10 Apr $25/20 bull put spread for $400. Mid-point to close is $.25/share so bid $.20/share to close for quick 50% of Max Profit. Move stop loss break even.
LRCX – Sold 10 Mar $115/105 bull put spread for $800. Mid-point to close is $.50/share so close here for $300 gain.
TLT – Sold 5-lot Apr $123/128 bear call spread for $.57/share and 5-lot for $.53/share for average of $.55/share. Stop Loss: $122.52.
ROST – Sold 10 Apr $70/75 bear call spread for $550. Stop Loss: $69.62.
PCAR – Sold 10 Apr $62.5/55 bull put spread for $520. Stop loss on the put spread is $64.88. Since stock is at Major Resistance and market overbought, sell 10 Apr $70/72.5 bear call spread for $650 or better to convert to Iron Condor. Stop loss on the call spread is $70.32. This will bring in more premium to profit from time decay if PCAR remains range bound. Mid-point to close to close all is $1.15/share so we are break even here.
MRO – Over $16.60, we recommend buying 1,000 shares of stock and selling 10 Apr $18 calls (50 DTE) calls at mid-point (currently $.29 x .31, but will be higher when trade triggered). Note: Earnings 5/17. Stop Loss: $15.18
SBLK- Trade #1: Purchased 1000 shares of SBLK stock at $10.00. Sold Apr $12.5 calls for $.60/share to convert to Covered Call with basis of $9.40/share. Trade #2: Sold 10 Apr $10/7.5 bull put spread for $650. Stopped break even.
FXA – Sold 5 (half lot) Apr $77/79 bear call spread for $.40/share and 5-lot for $.36/share for average basis of $.38/share. Stop Loss: $77.42.
BA – Trade #1: Sold 10 $187.5/195 bear call spread for $.86/share. Trade #2: Sold 10 $195/210 bear call spread for $.98/share. Move stop break even.
SLV – We recommend selling 10 Apr $17.5 naked calls (49 DTE) for $.33/share (closed at $.26 x 37share) or better. Stop Loss: $17.52. No fill, but still valid.
VIAB – Sold 10 Apr $45/47.5 bear call spread $.43/share. Stop Loss: $45.12.
EL – Sold 10 Apr $87.5/92.5 bear call spread for $.50/share. Move stop loss $85.22.
AI – Shorted 1,000 shares of the stock at the opening price of $14.43. Move stop loss $14.43.
EEM – Sold 10 Apr $39/40.5 bear call spread for $.36/share. Stop Loss: $39.22.
NFLX – Trade #1: Sold 10 Mar $145/152.5 bear call spread for $.65/share. Trade #2: Sold 10 Apr $150/170 bear call spread for $2.90/share. Stop Loss: $146.22.
XON – Sold 10 Apr $20/18 bull put spread for $350. Stop Loss: $19.88.
STLD – Sold 10 Apr $39/41 bear call spread for $.40/share. Mid-point to close is $.20/share so close here for 50% of Max Profit and $200 gain.
HTZ – Sold 20 Apr $20/17.5 bull put spread for $600. Stop Loss: $19.48.
KBH – Purchased 10 Jul $15 calls (136 DTE) and sold the Apr 19 calls (45 DTE) for a net debit of $2.95/share. Note: Holding over earnings (4/12) is higher risk. Stop Loss: $15.88.
HOG – Sold10 Apr $55 naked puts at $.93/share. Stop Loss: $55.48.
KORS – Sold 10 Apr $40 naked calls for $.40/share. Stop Loss: Note: If trades over $39, we recommend buying the stock to convert to a Covered Call.
UA – Bought 10 Apr $22.5 puts for $4.25/share. Sell Mar (10 DTE) $17.5 puts for .25/share to convert to Bear Diagonal and lower cost basis to $4.00/share. Move stop loss $18.82.
UAL – Trade #1: Sold 10 Apr $79/82.5 bear call spread for $530. Trade #2: Sold 10 Mar $77/80 bear call spread for $270. Stop Loss: $77.42.
GPI – Sold 10 Apr $85/90 bear call spread $.47/share. Stop Loss: $83.22.
Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Greg Capra
Managing Director and Pristine Founder
Dan Gibby
Chief Options Strategist
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