LOL! I logged into my paperMoney account this evening and it showed that my order had been filled to close out my SLB strangle ... for a $20 million profit! Needless to say that was obviously wrong, so I got on live chat with my broker and they had it fixed in less than 5 minutes. This is the 3rd time I've contacted customer support for my broker, and I've been very impressed by their service every time.
New Play
AAPL Apr 75P/110C This is one of a few stocks where I'll fudge the rule just a bit and slip out 4 strikes instead of the normal limit of 3. This is because it has a very proven track record of consistent volatility. The options seem to have deflated somewhat on AAPL the last week as it's been running kind of flat, so I'd really like to pick something up. Standard play entry +/- $0.50 on the stock.
I suppose this is as good of time as any to also mention another play I've had open on AAPL for some time. I've not posted about it up to this point just because it's not really a strangle play. This is a 100% longer-term speculation play. I picked up 2 contracts of the Apr 190 C in late Sept and early Oct, and later picked up an Apr 40P. I'm at $700 cost basis for the whole deal, and it's in my smaller account. It's based on the belief that AAPL will at some point make a nice move to the upside as it has twice already in the last year, though that has somewhat diminished lately. I picked up the put on rise, so I got it pretty cheap to help cover my downside. I'm just riding it out to see what happens.
Updates
FDX is still gaining, but not there yet. Still sitting at about a 1.75% loss, which is a lot better than the the 40% I was at last week. Every day I keep thinking it might turn around, but so far it's following the lower bollinger band down pretty consistently.
AMZN is also staying between the lower bollinger band and the 10-day moving average, but it's moving around a little bit more. Still sitting at about 36% loss on this one.
SLB made a decent move down today, but I'm still sitting at about 14% loss. A far cry from the $20,000,000 profit my paper account tried to give me!
What is a Guaranteed Investment Fund (GIF)?
13 years ago







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