Live: Thursday, Nov. 8, 2018

2:45 p.m. New York time

My other prospective earnings play, DIS, saw its IV rank drop sharply during the day, down to 47%. That’s too low for my taste, so I’ll settle for the one trade, ATVI, for today.

2:30 p.m. New York time

I’ve entered a short iron fly position on ATVI.

1:45 p.m. New York time

I’ve updated the analyses with results for the three positions on exited: EWZPM and UPS.

I’ve been delaying entry of new positions until after the Federal Open Market Committee announcement due at 2 p.m. New York time.

10:30 a.m. New York time

I’ve exited EWZ for a profit, eight days prior to expiration.

10:25 a.m. New York time

I’ve exited PM for a loss, eight days prior to expiration.

9:55 a.m. New York time

I have exited UPS for a profit and shall update the analysis with results.

9:50 a.m. New York time

I’m looking at two prospective earning plays today. ATVI has the highest IV rank, in the 1st quintile (81-100), but comes in second in market capitalization. DIS has an IV rank in the 2nd quintile (61-80) and has the higher market cap. I’ll choose later in the day.

I have two exits planned: EWZ and PM, which expire next week. UPS — a Dec. 21 expiration — is around 25% of maximum potential profit, and I shall exit if I can get a fill.

Today’s Book

The 5 AM Club

Own Your Morning, Elevate Your Life

by Robin Sharma

True confession: I live on the West Coast of the United States, and the opening bell of the markets rings in my ears at 6:30 in the morning. When I haven’t prepped the day before, I end up with 5 a.m. days.

Performance expert Robin Sharma in this book describes his morning routine designed to produce health and serenity.

As a trader, health and serenity describe my greatest needs, after profit. Sharma says he has answer to those needs.

More about the book

The status of my current options positions.

sym option debit share price beyond profit zone curr % max profit net prft/shr $ option days left
EWZ 0.89 40.30 (3.5) (0.03) 8
PM 3.85 89.55 high (12.2) (0.42) 8
QCOM 4.43 89.31 high 0.2 0.01 43
SPY 6.25 280.62 high (48.1) (2.03) 43
UPS 6.10 111.27 25.6 2.10 43

By Tim Bovee, Portland, Oregon, Nov. 8, 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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