Adjustments and Comments on Open Advisory Letter Trades
QQQ – Bought 10 Mar $129 calls for $2.63/share. Nice move after FOMC, giving open gain of $750. Move stop loss $131.78 to protect small gains and still sell into strength since was short-term swing trade and options expire tomorrow.
ROST – Sold 10 Apr $70/75 bear call spread for $550. Mid-point to close is $.43/share, move stop loss break even.
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 $44.72.
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 (4/12) is higher risk.
UA – Bought 10 Apr $22.5 puts for $4.25/share. Sold Mar $17.5 puts for .25/share to convert to Bear Diagonal and lower cost basis to $4.00/share. Move stop loss $18.22 (which now locks in trailing profit because of put sold and stock falling).
GPI – Sold 10 Apr $85/90 bear call spread $.47/share. Stopped break even.
CSX – Sold 10 Apr $50/55 bear call spread for $.88/share. Mid-point to close is $.73/share, move stop loss break even. Note: Close before 4/18 earnings.
WFT – Sold 10 Apr $6 naked puts spread for $.19/share. Stop Loss: None for now since bullish long term.
PNC – Sold 10 Apr $135/140 bear call spread for $500. Mid-point to close is $.33/share, trail stop over prior bar’s high and move stop loss break even. Note: Close before 4/18 earnings.
SMH – Sold10 Apr $75/70 bull put spread for $.57/share. Had nice break out. With market getting overbought, move stop loss break even and trail stop under prior bar’s low to protect profits.
JCOM – Sold 10 Apr $80/75 bull put spread for $.70/share. Mid-point to close is $.50/share. With market getting overbought, move stop loss break even and trail stop under prior bar’s low to protect profits.
MTB – Sold 10 Apr $175/180 bear call spread for $.65/share. Mid-point to close is $.45/share, trail stop over prior bar’s high and move stop loss break even. Note: Close before 4/20 earnings.
WMT – Sold 10 May $65 naked puts spread for $.50/share. Stop Loss: $69.38.
CMTL – Over $14.60, we recommend buying 1,000 shares of stock. Target: $16.00 – 17.00. Stop Loss: $13.59.
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.
X – Trade: Over $36.50 (after 3:30 ET into the close), we recommend selling 10 Apr $30/26 bull put spread (37 DTE) for a minimum of $.25/share (currently $.27/share). Rallied too much so limit not fill, cancel trade.
WTW – We previously recommended a bullish trade on a breakout, but it continues to retrace into the gap. We will continue to monitor since the weekly and monthly charts are still bullish.
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
Follow Greg on Twitter and StockTwits to get real-time updates:
Twitter: @GregCapra
Stocktwits: Greg_Capra
