Live: Friday, April 7, 2017

4/7 – 3:25 p.m. New York time

I exited ORCL for a profit and partially exited LOW in what will prove to be a loss.

As the first rumbles of earnings season approach, I shall have four — possibly five — new positions next week based on earnings announcements, a welcome oasis in the desert of inactivity that marks my off-season trading.

4/7 – 11:20 a.m. New York time

I have exited the calls on my LOW iron fly, leaving a bull put spread, profitable down to $72.79.

I read the chart as a triangle, implying that I can expect the breakout to be to the upside. That would have made the iron fly position even more unprofitable.

LOW 30 days hourly bars

The zombie bull put spread that remains will almost certainly expire worthless on April 21. I shall update the analysis with full results for the position after expiration.

4/7 – 10:10 a.m. New York time

I have exited ORCL for a profit and shall update the analysis shortly.

4/7 – 10:05 a.m. New York time

I don’t plan to enter new positions today. I shall exit positions, as outlined in last night’s post, below

4/6 – 7:55 p.m. New York time

I have no prospects for entry into new positions on Friday.

Both of my positions that expire on April 21 — GME and LOW — have reached the point where I must exit to avoid the probability of assignment or expiration. I shall be look for opportunities soon.

I plan to exit ORCL, which is profitable, prior to expiration to avoid any last-minute surprise.

TGT is a zombie position remaining from a prior iron fly that was partially exited. It is so deep into profitable territory that it requires no action on my part.

By Tim Bovee, Portland, Oregon, April 6-7, 2017