Live: Wednesday, Oct. 17, 2018

11 a.m. New York time

I’ve entered an iron fly options spread on PM.

10:25 a.m. New York time

I’ve decided to pass on TRV as an earnings trade today. I shall instead go with PM, which has a higher implied volatility rank and greater market capitalization.

10:15 a.m. New York time

I have updated the LEN analysis with results.

Today’s Book

Capitalism in America: A History

by Alan Greenspan and Adrian Wooldridge

Whatever our personal politics, as traders, capitalism is the sea in which we swim. In Capitalism in America, economist and former Federal Reserve chairman Alan Greenspan joins with The Economist’s Adrian Wooldridge, who writes the Begehot column,to explore the forces that have driven the American economy to where it stands today, from slavery in the pre-Civil War South to the redefinition of government’s role under President Franklin Roosevelt and onward to our post-Great Recession present.. It will be published Oct. 16, and it looks like a book that will earn a place on my shelf

More about the book

9:45 a.m. New York time

I have exited LEN for a loss. The stock goes ex-dividend on Thursday, Oct. 18, which increases the chance of an assignment, which I would prefer to avoid. I shall update the analysis with results later today.

I have five potential earnings plays on the table this morning. TRV, an insurance company, is the most interesting at this point, although its IV rank, in the 60s, is the lowest of the prospects.

BBT and KEY are banks, and I already have exposure in that reason and so I am striking them from the list without further analysis.

The global tobacco company PM will be my next choice if TRV doesn’t work out, and the metals refining company AA is the third prospect.

Here’s is the status of my options holdings, including the just-exited LEN.

sym option debit share price curr % max profit net prft/shr $ option days left
C 2.88 69.41 16.5 0.57 30
EWZ 1.01 39.11 (17.4) (0.15) 30
IBM 8.09 135.28 (19.1) (1.30) 30
JNJ 5.19 137.75 7.3 0.41 30
LEN 3.59 43.32 (11.1) (0.36) 30
SPY 4.79 279.58 (9.9) (0.43) 30
STZ 10.90 226.95 (29.8) (2.50) 30
WBA 3.73 76.58 (4.8) (0.17) 30

And of my share holdings.

sym share price net result % net profit $ days held
AAPL 221.20 -1.2% (2.76) 33
CHK 4.75 18.8% 0.75 33
FXI 39.87 -3.3% (1.34) 33
SPXU 35.81 -11.7% (4.75) 155
TSLA 277.23 -9.1% (27.76) 16
VNQI 53.85 -5.2% (2.96) 34

By Tim Bovee, Portland, Oregon, Oct. 17, 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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