NEW TRADE
SPY – Short Apr 240/245 bear call spread for $.65/share.
Adjustments and Comments on Open Advisory Letter Trades
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 break even.
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 (3/23) is higher risk.
CSX – Sold 10 Apr $50/55 bear call spread for $.88/share. Close half at $.38/share for over 50% of Max Profit. Close back half here $.20/share for nice gain back half for total average gain of $590.
CSX – Trade #1: Shorted 1,000 shares of stock at $47.39. Met Target of $45.50 – 46.00, for total average gain of $1,640. Trade #2: Bought 10 Apr $50/46 bear put spread for $2.18/share. Mid-point to close is $2.90/share so close half and move stop break even. Note: Close before 4/10 earnings.
WFT – Sold 10 Apr $6 naked puts spread for $.19/share. Stabilizing on daily chart, no changes. Stop Loss: None for now since bullish long term.
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. Mid-point to close is $.26 so move stop loss break even. Trade #2: Sold 10 Apr $29/27 bull put spread for $.58/share. Mid-point to close is $.39 so move stop loss break even.
VIPS – Buy 1,000 shares of stock $14.32. Target: $16.00 – $17.00. Stop Loss: $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. Looking good.
BABA – Sold 10 Apr $100/95 bull put spread for $40/share. Mid-point now is $.25/share, bid $.20/share to close and move stop loss break even.
AMZN – Sold 10 Apr $825/815 bull put spread for $1.10/share. Stop Loss: $839.48.
KSS – Trade #1: We recommend selling 10 Apr $41.5/45 bear call spread (31 DTE) for $.42/share (closing mid-point) or better. Stop Loss: $41.32. Trade #2 – Shorted 1,000 shares of stock at $38.19. Very nice breakdown today, looks good, so move stop loss break even. Cover half short stock for around $1 gain and half of bear spread at $.20/share.
CAR – Under $31.77, we recommend selling 10 Apr $35/38 bear call spread (32 DTE) for $.35/share. Stop Loss: $34.42. Didn’t get filled at $.35/limit and tanked, so cancel trade.
WYNN – We are monitor for potential breakout on the weekly and monthly charts.
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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