Yesterday, I placed a double calendar trade on Oil Service Holders.

July / Aug 210 Puts

July / Aug 230 Puts

Total Debit of 7.99.

I opened up a July 80/75 bull put spread on Massey Energy for a credit of 1.10.

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.

I got into a July 50/45 bull put spread on LSTR for a credit of .70.

I got into a July 100/95 CNX bull put spread for a credit of 1.27 yesterday.

Here is another speculative trade I have placed, so size accordingly.

Symbol: CNX

June 110/105 BLPS for a credit of 1.10.

I just added a bear call spread on USO for the June 111/112 Calls for a credit of .20. As USO was going down, I bought back the debit for .03. No additional margin, so this can only help my position. Getting pretty crazy!

I can’t get enough of oil. I entered a vulture bull put spread today. Here are the details:

BLPS June 107/106 – Credit of .30.

I will look to put a topside to bring in additional credit and not increase margin requirements.

I am attempting to backtest a volatility trade where there are no earnings announcements, but purely on the vol skew relative to the stock. Here is what I placed today:

Trade: Butterfly

Strike Prices:

July 45 Puts

July 40 Puts

July 35 Puts

Debit of 1.79

As Goldman is continuing to get battered, I added a delta neutralizing position to protect us against adverse price movement. I sold the June 150 Calls for a credit of 15.70.