Adjustments and Comments on Open Advisory Letter Trades
ROST – Sold 10 Apr $70/75 bear call spread for $550. Weakening here with market, close at mid-point $.18/share for $370 gain.
BA – Closed both Trade #1 and #2 for a total of $1,280 gain, and was left with a “free” long Apr $210 call since there was no premium left, try to sell at $.25/share.
VIAB – Sold 10 Apr $45/47.5 bear call spread $.43/share. Move stop loss $44.25.
KBH – Purchased 10 Jul $15 calls (136 DTE) and sold the Apr 19 calls (45 DTE) for a net debit of $2.95/share. Mid-point to close is $3.55 (nice 20% ROI) so we have nice open gain. Move stop loss break even. Note: Holding over earnings (4/23) is higher risk.
CSX – Sold 10 Apr $50/55 bear call spread for $.88/share. Mid-point to close is $.38/share, which is over 50% of Max Profit, so trail stop over prior day’s high to protect gains. Note: Close before 4/18 earnings.
CSX – Trade #1: Shorted 1,000 shares of stock at $47.39. Target: $45.50 – 46.00. Trade #2: Bought 10 Apr $50/46 bear put spread for $2.18/share. Stop Loss: $48.52. Note: Close before 4/18 earnings. Trying to stabilize at the r50MA, but the major top suggests lower prices.
WFT – Sold 10 Apr $6 naked puts spread for $.19/share. Stop Loss: None for now since bullish long term.
SMH – Sold10 Apr $75/70 bull put spread for $.57/share. Closed at $.30/share for $270 gain.
WMT – Sold 10 May $65 naked puts spread for $.50/share. Although it is trading erratic (which is why we don’t own the stock), we are comfortable with the short put. Stop Loss: $69.38.
CMTL – Bought 1,000 shares of stock at $14.61. Target: $16.00 – 17.00. Stop Loss: $13.59. If it trades above $15.25, then move stop to 15.09. Note: Holding over earnings (6/6) is higher risk
OIH – Sold 10 Apr $29/27 bull put spread for $.24/share. Didn’t get as much net credit as desired so bid $.10/share to close. Stop Loss: $29.28.
WFM – Trade #1: Sold 10 Apr $28 naked puts for $.45/share. Trade #2: Sold 10 Apr $29/27 bull put spread for $.58/share. Stop Loss: $28.48.
VIPS – Buy 1,000 shares of stock on pull back between $13.50 and $14.00. Target: $16.00 – $17.00. Stop Loss: $12.74. If closes strong, tomorrow buy over today’s high ($14.31) with a stop of $13.59. Note: Holding over earnings (5/15) is higher risk.
VLO – Sold 10 Apr $65/60 bull put spread for $.44/share. Stop Loss: $65.28.
TTWO – Sold 10 Apr $60/65 bear call spread for $.72/share. Note: Spreads wider than normal, so higher risk. Stop Loss: $60.32.
AVP – We recommend buying 1,000 shares of stock over $4.44. Acting poorly, cancel trade.
WYNN – We are monitor for potential breakout on the weekly and monthly charts.
BABA – Sold 10 Apr $100/95 bull put spread for around current mid-point of $.40/share. Stop Loss: $101.78.
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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