2:25 p.m. New York time
SPY has bounced off of the low set on Monday. It could be the beginning of the 2nd wave p at the Minute degree, or not. In any case, I’m not trading back in today.
12:20 p.m. New York time
I have entered a short iron fly position on AMGN. I chose the earlier expiration date, Nov. 16, in order to make funds available quickly for future trades during the earnings season.
11:10 a.m. New York time.
I’ll be taking a close look at SPY today. My initial sense is that it has finished a wave 1 down and is moving into a 2nd wave correction, but I want to dive into the chart to get a sense of when I should re-enter.
Today’s earnings play is a choice between AMGN and BIDU. Both are in the top quintile of their respective implied volatility rating. AMGN has more than double the market capitalization of BIDU. Therefore, AMGN is my choice. Analysis and possibly a trade to come.
The other prospects, grouped by implied volatility rank quintile, are:
1st quintile (81-100): GM, BAX, ALL, APC, EA, YUM and ZEN
2nd quintile (61-80): MOS and BGFV
3rd quintile: (41-60): PEG, UAA and UA
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A snapshot of my options positions.
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And my shares positions.
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By Tim Bovee, Portland, Oregon, Oct. 30, 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.
All content on Tim Bovee, Private Trader by Timothy K. Bovee is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Based on a work at www.timbovee.com.L