Live: Friday, Nov. 9, 2018

3:25 p.m. New York time

That’s a wrap for the week. I shall my discussion of economic reporting, The Week Ahead, on Saturday.

3:05 p.m. New York time

HD‘s implied volatility rank rose a bit, to 49%, and so I fudged my normal 50% or greater rule and entered the trade, for an excellent risk/reward ratio.

9:50 a.m. New York time

My single potential earnings play for Friday is HD. It has a high market capitalization, but its implied volatility rank is low, in the 4th quintile at 44%. With the IV rate under 50%, I’m not interested and plan no analysis or trade.

Today’s Book

Liar’s Poker

by Michael Lewis

This 1989 book is still on the best-seller list. And no wonder. The author, Michael Lewis, has a knack for diving past the nonsensical facades to the heart of the matter, be it bonds or baseball. In the case of Liar’s Poker, it’s the inside story of selling bonds — Lewis’ first step in the journey from bond salesman to best-selling author. When I first read it, it was a book that I couldn’t put down.

Since then, he has brought his perspective to a boat-load of Lewis’ latest book, The Fifth Risk, takes on the operations of government. It came out in early October and now stands at the top of the Economics and Public Affairs categories on Amazon.

More about the book

Current quotes for my options positions:

sym option debit share price beyond profit zone curr % max profit net prft/shr $ option days left
ATVI 6.25 54.12 low (1.5) (0.09) 42
QCOM 4.80 57.71 low (8.1) (0.36) 42
SPY 5.72 278.32 (35.5) (1.50) 42

By Tim Bovee, Portland, Oregon, Nov. 9, 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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