07.01.08
OIH Double Calendar
Yesterday, I placed a double calendar trade on Oil Service Holders.
July / Aug 210 Puts
July / Aug 230 Puts
Total Debit of 7.99.
MEE BLPS
I opened up a July 80/75 bull put spread on Massey Energy for a credit of 1.10.
GILD Put Calendar
It has been tough to locate some good calendar trades. I placed a trade on Gilead Sciences a few days ago with the following parameters:
July / Aug 52.5 Puts
Debit of .65
The volatility skew is good and good upside for our calendar to increase in value. We will exit prior to upcoming earnings.
SLB +41%
On the 26th of June, I placed a long call trade on Schlumberger. There was a bull flag signal showing and it was a good entry point. I received a debit of 6.10 and sized accordingly. A day later, I exited for a credit of 8.60. That gives me a profit of 2.50 / 6.10 = 41%!
JPM +12.3%
On the 24th of June, I closed my JPM butterfly for a credit of 2.01. That gives me a profit of .22 / 1.79 = 12.3% in a week! These types of trades are quite attractive in this market due to high volatility.
