July 1, 2008
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.
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.
CNX BLPS
I got into a July 100/95 CNX bull put spread for a credit of 1.27 yesterday.
June 19, 2008
CNX BLPS
Here is another speculative trade I have placed, so size accordingly.
Symbol: CNX
June 110/105 BLPS for a credit of 1.10.
Adjust USO
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!
USO BLPS
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.
June 17, 2008
JPM Butterfly
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
June 12, 2008
GS Adjustment
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.
