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Trade Alert – Volatility buyback and a tranche of bubble puts

October 17, 2013 by Cody Willard

One of our shorts, $IBM, is down pretty big today after an ugly earnings report last night. One of our longs, $INTC, is down fractionally and there was nothing earth-shattering in last night’s report there.

Another short of ours, Goldman Sachs is down pretty big today too after a sloppy earnings report that showed less welfare and insider trading income than was expected.

On a similar note, the goobermint went and settled some near-meaningless debt ceiling crisis of its own manufacturing and $GS will continue to get their hundreds of billions of dollars of welfare and assistance and other hand outs this year and next.

Wake me up when Representative Ted Cruz attacks that program instead of whatever he was pretending to attack during this debt ceiling “crisis”. Did you know that Ted’s wife is an insider crony at that Goldman Sachs joint, the single great welfare bank in the history of the planet? No, you didn’t know that Ted and his wife and his family are literally in Goldman’s pocket? Look it up.

The VIX has absolutely crashed since we sold the last of our VIX call options last week. I think it’s time to buy some back to re-hedge the portfolio with here. I’m using November 13s and December 13-15s. If you can’t find Vix at your broker you can look at the VXX, but it’s not quite the same thing, just FYI. And if you don’t know what any of this means, don’t worry — just keep steady betty and be ready to scale into some more stocks as the pitches come.

And I just added a second tranche of the PCLN puts, which we’ve had some big wins and smaller losses in lately. Using December $950s or so.

 

 

Related posts:

Trade Alert: And a playbook for into year-end
I Apologize For The Poor Performance (And Trade Alert: Cloud Stocks)
Trade Alert: IBM out, a simple way to play the spiking dollar and taking some HIMX and AMBA profits
Trade Alert: Adding SKLZ To My Basket Of Beatens As Greed Turns To Fear
Trade Alert: Putting a hand on a hot stove
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Filed Under: Trade Alert

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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