by TheWife

I chose to take profits today in my $NFLX Put Credit Spread. 

I had sold Dec 75 Puts and bought Dec 70 Puts.This gave me a credit spread of $1.67 or $167 before commissions per lot. I chose to cover this spread today for 0.25 giving me profits of $142 per lot.

by TheWife

It has been a great start to the month of December at Shareplanner.

Here is a a quick review of my trades over the past couple of weeks. 

I took nice profits in $CREE & $CLVS last week. This week I profited with $OEH and my short $TZA position that I had put on in light of the Small Cap Power Period. The second sub period ended yesterday when I took profits; I will look at returning to that trade for the third sub period of the year: the last 7 trading days of December.

by TheWife

I am closing our first $SPY strangle 

 

Trade: Buy back Dec123 Put and  Dec 150 Call for a total of .15.

We sold the entire lot for $1.03

Net gain .88 ($88) per lot

As there is only .15 premium left in this strangle but still 30 days left, it makes sense to take the profit here. 

As always, if you have any questions, please don't hesitate to contact me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

by TheWife

Hello Everyone,

We are having a nice month here in the Options Income Newsletter. All of our current trades in the live portfolio are looking good. Here is a recap of the trades we have on.

First we legged into two sides of a $SPY strangle taking advantage of the higher premium on both sides, selling the 123 Dec put for .54, now at .16 and we legged in the 150 Dec call for .49, now at .04, giving us a total current profit of .83 or $83 per one lot. 

When the market turned back down we added another leg on the put side, the Dec 125 for .51, now at .22, giving us current profit of .29 or $29 per one lot. Due to bearish market conditions, I have not had the chance to leg in another call side to this position, but with the current rally, I will be looking to add that in the coming days.

by TheWife

The markets have been googled and while I didn't feel a thing, my longs have been slapped around a bit. Just when my indicators gave me signals to go long, earnings debacles set Mr. Market up to do what he always does, make fools of the most us. Today's environment is decidedly distributive. To those of you who were short coming into this, I salute you.

Thusly, I have stopped out/dropped $RBCN, $VXX and $BKS. I am still in $GMCR as it is holding its ground with nice consolidation and my stop currently locks in a dollar in gains.

by TheWife

I am back in the market this week on what I consider to be healthier conditions overall. The recent choppy correction phase has been difficult to trade and I decided to step back from trading for a couple of weeks. But  have put on trades this week as my triggers have been going off. Below I detail my thesis in the market as well as my specific positions. 

Monday's first day of bounce may have only been a dead cat, but yesterday's follow through with a higher high and a higher low gave me more confidence to start putting positions on. $SPX looks to be heading to the October high for starters.

Also the collapse in $TLT (below) confirms the bullish move in equities. On this idea, I put on a short in $VXX also taking advantage of decay and contango in that product. This is a product which I will only take as a short position. I stay away during corrections as it is made to always go down over time.

by TheWife

I decided to take a new position here in $GMCR as it holds strongly above the 8-ema and gets ready to move up through the volume pocket to the 200 day.

Easy risk/reward with a stop below Friday's low.

 

 

 

 

 

by TheWife

Anyone who follows me, knows how much I like this little company. $PWER offered a new entry here as it pushed back up through the 8-ema after a strong pull back. Previous resistance is now support and with the        8-ema right there, it is easy risk/reward. Thanks to Steve in SharePlanner Pro chat room for reminding me to look at this today.

by TheWife

I just took a position in $MDRX. I like this set-up, in a scoop pattern, above the 8-ema. There is another huge pocket of volume looking to take this ticker to the 200 day at 14.62. First gap-fill target is 13.85. 

by TheWife

I picked up $ROVI this afternoon at 15.95 on break out of ascending triangle. It is in an up-trend after recently breaking a strong down-trend that left a big pocket of volume in its wake. Today's break-out also pushed through the 8 ema and the 50 day with targets of the 100 and 200 MA's as it moves up through the volume pocket.