Todays plays AAPL 385 weekly calls SLV calls and SPY puts

/b buying AAPL 385 weekly calls at 1.20 area 2X Oversized and bought SLV 40 weekly calls at .45 area also 2x oversized. First entered the SLV bullish bet simply since GOLD has broken above its trend lines plus with this S&P downgrade don’t want to fight the market. With that said even though am bearish after all technical levels were lost if we were to have a bullish market hedge I would like it to be on AAPL . So am doing same money allocation here long on some very far out of the money AAPL calls with mental stop at 1.00. The AAPL position is meant to be a day trade or a few day play only if the market bounces, it is not at this point meant to be held into friday.

 

/b buying SPY 110 weekly puts at 1.11 OVERSIZED . This is very high risk very far out of the money puts that expire this week, but chose to go bearish here since this S&P downgrade again should continue to have bearish legs . Especially with all support levels we have meet so far have been lost. Now AAPL 385 weekly calls, the one bullish play lost here the mental stop of 1.00, but since am continue to focus bearishly first with SLV calls then now SPY puts, we should hold this hedge. So for now will continue holding AAPL 385 weekly puts passed mental stops.

 

 

/s shorting AAPL 375 weekly calls at 2.60-2.45 same contract amount as the long on AAPL 385 weekly calls to tern this into a credit spread and turning the one bullish market position also bearish, again SPY Pus working out nicely.

Posted in General Trading