Adjustments and Comments on Open Advisory Letter Trades (Note: We have started posting our trade updates in a separate Report in the Member’s Area. Please see that document for a current reflection on all Open and Closed Trades which will be updated nightly). But here are the current Open Trades and Adjustments.
GNK – Bought 1,000 shares of stock at $14.40 and another 1,000 shares at $13.84/share for an average cost basis of $14.12. Note: Earnings are 5/8/17 (estimate) so higher risk holding through it. Target: A very aggressive $30.00 – 50.00. Stop Loss: $11.48.
XLK – Sold 10 May $54/57 bear call spread at $.43/share. Mid-point to close is $.34/share, move stop loss break even and trail stop over prior bar’s high to protect small gains.
AMD – Sold 10 May $16/18 bear call spread for $.23/share. Note: Don’t have earnings date but we hear it is 4/20 so bid $.10/share to close. Move stop break even and trail stop loss over prior bar’s high.
IWM – Sold 10 Apr $139.5/143 bear call spread for $.48/share. Close now at $.11/share to book $370 gain.
TLT – Sold 10 May $119/114 bull put spread for $.60/share. Stop Loss: $119.88.
NOTE: Watching gold stocks for put spread selling candidates.
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
