Live: Tuesday, March 21, 2017

3/21 – 3:05 p.m. New York time

Today’s outcomes: I have entered positions on FDX and NKE and exited positions on CIEN, DG and WMT.

3/21 – 10:22 a.m. New York time

FDX and NKE continue to qualify as potential trades and I shall analyze each today.

I have exited CIEN, DG and WMT, each for a profit. I shall update their analyses with results later today.

The $65 short put in my TGT iron fly was assigned, leaving long shares in my account. The options structure remaining was a bear call spread, short the $65 call and long the $75 call, along with a long $57.50 put.

I exited the TGT put, leaving the spread in my account with a value so low it appears almost certain to expire on April 21 without value. I shall update TGT’s analysis with results only after the position ends entirely, presumably with the expiration of the spread.

3/20 – 8:15 p.m. New York Time

I have two prospects for Tuesday, both of them earnings plays and both passing my tests for liquidity and level of implied volatility. The symbols are FDX and NKE.

If the continue to qualify after the market open I shall consider them for trades.

By Tim Bovee, Portland, Oregon, March 20-21, 2017