Live: Monday, Oct. 1, 2018

Today’s Book

None of My Business, by P.J. O’Rourke 

The libertarian satirist’s take on the markets and business. “Want to get rich overnight for free in 3 easy steps with no risk? Then don’t buy this book. (Actually, if you believe there’s a book that can do that, you shouldn’t buy any books because you probably can’t read.)”

1:55 p.m. New York time

I’ve posted results for KMX.

1:25 p.m. New York time

I’ve posted the results for GNRC.

11:20 a.m. New York time

I’ve added an analysis of the TSLA trade.

9:30 a.m. New York time

A busy start to the day.

I’ve exited my options positions on GNRC, for 50.4% of maximum potential profit, and KMX, for 25.1% max. GNRC was an iron condor, which I manage at half of potential, and KMX was an iron fly, which I manage at a quarter of potential. So they were textbook trades. I shall update their analyses with results later in the day.

Also, now that Tesla and Elon Musk have settled with the SEC, I’m looking to play TSLA. I began this morning with a small long shares purchase and shall be looking at options strategies as well. Bottom line on TSLA; For me, it’s a pure story stock. I think Musk is a visionary genius, and although the company will be prone to surprises for some time to come, such is often the cases with visionaries. I think the potential reward is worth the risk, but the risk is indeed higher with TSLA than with, say F or GM.

I’ll post a brief TSLA analysis later.

Also, PAYX publishes earnings Tuesday morning. I’m passing on it without a full analysis. Implied volatility rank is 44, and I prefer to focus my earnings plays on prospects with IVRs above 50.

Here is the status of my options holdings:

sym option debit share price curr % max profit net prft/shr $ option days left
AMD 0.54 31.64 44.9 0.44 4
EWZ 0.63 33.53 26.7 0.23 46
JBL 1.85 27.11 (35.0) (0.48) 18
MU 0.58 45.78 42.6 0.43 18
NKE 2.41 84.91 22.0 0.68 18
SPY 3.84 292.65 (25.1) (0.77) 46

And of my share holdings:

sym share price net result % net profit $ days held
AAPL 228.58 2.1% 4.62 17
CHK 4.54 13.5% 0.54 17
FXI 43.19 4.8% 1.98 17
SPXU 31.55 -22.2% (9.01) 139
TSLA 308.25 1.1% 3.26 0
VNQI 56.21 -1.1% (0.60) 18

By Tim Bovee, Portland, Oregon, Oct. 1, 2018

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.


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