Bull or Bust

a bull's view

FRIDAY CLOSING BELL

CLOSING BELL REVIEW

I’m pretty much done for the week. There were good times and bad, and I almost broke even this morning, but ended the week down significantly.

WHAT HAPPENED?

This should be a short-term loss. Most of it (2k or so) is due to buying down the Starbucks [stock_quote symbol=sbux] JUNE 62.5 CALL option. I now own 100 contracts @ .3295 average trade price. I anticipate this option appreciating over the coming weeks.

The CBOE Volatility Index [stock_quote symbol=vix] is what killed me. It peaked at 14.19 this morning and that could have been the top for the near-term. I should have been smart and sold all 100 contracts of the JUNE 23 CALL @ $1.20 this morning. I would have been even, but I at least I would have saved the additional $1,500.00 I lost when it started down before lunch.

I did trade Bank of America [stock_quote symbol=bac] and made a little money. Also, made some money on Pandora [stock_quote symbol=p] and Vanguard Natural Resources [stock_quote symbol=vnr]. Therefore, my final numbers are on the top right of this page.

NEXT WEEK ECONOMIC DATA

Next week we are getting a lot of information and more earnings. It should be an interesting week so I’m taking a break this weekend and clearing my head.

HAVE A GREAT WEEKEND!

Stock and Option Trading