First thing I wanna mention. weekly options out 5 weeks in advance now for lots of stocks like AAPL, BAC, GLD, and the index ETF's except the diamonds, interestingly. So be aware of that! thought that was pretty cool and will definitely be nice.
Markets were acting somewhat weak again today but had a few quick busts to the upside. Watch the Dow Transports to break down past that 4850 level to start looking for some shorts inside that index. Euro had a nice recovery today, while Bond market is coming up into some Fibonacci Resistance. With markets overextended, My thoughts stay the same on getting short here, don't do it. Wait for confirmation.
UNG - Highlighted this one yesterday and it played out just like I planned after the inventory report. It dropped to just a few cents above my bid that was at 2.00 on the 20 strike december calls. I was kind of upset my bid didn't fill because right after that it ripped back up to highs just like expected. Ended up getting filled right at close though for a third of the full position. Stop will be at 20.50 on UNG. Averaging into this one. Natural Gas futures are up pretty nice after the equity market closed, although I am more focused on the long term picture into december.
GLD - Another one I highlighted last night that I took overnight, that also gave traders a chance to get in puts at open before it tanked almost 2 points. Sold half in the 165s because it was a significant move, holding the other half. I'm still bearish on this.
NFLX - Took 77.50 calls overnight expiring next week. I was pretty happy about the close on this one and am holding overnight. I may take profits in the morning. Be in chat and I will let you all know what I'm doing with it. I'm putting this on watch for a day trade. A good one to trade the trend on corrections. If it is trending up, buy dips. If it's trending down, short spikes. Relatively high premium's selling a 77.50/75 vertical put spread expiring tomorrow will be a nice setup imo.
AAPL - Very key level at 522.18. If it breaks below 520 tomorrow and extends past it, It won't be pretty.
BIDU - I'm looking for a pin at 95. A nice trade would be a butterfly. Sell 2 calls at 95 and buy 1 at 90 and also buy 1 at 100. An alternate trade would be to buy a 90/95 vertical debit spread expiring tomorrow.
Gonna be day trading a lot tomorrow so be in chat!!