Folks, I'm rolling into this week with a lot of momentum! Thanks to DDD I absolutely crushed it last week, booking more than $1,000 in profits.
Now not only do I want to protect those gains - I'm looking to add to them. I'm in 5 plays right now, but in 3 of 'em I have the potential to book profits this week.
Let's start with FB... I own 100 shares @ 66.08. This looks to be a good entry point as long as the stock can hold that $66 line. If it does hold, I think we move up to $70. I also sold a July 67.50 put for a $68 credit on Friday (This was a roll-out of a weekly $68 put). If we get that move to $70 this week I'll close the short put and move my stop up to $68 on my shares.
On to WFM... lots of hate on this stock right now, and that's just how I like it - hated and out of favor. The good news is it does seem to have found a short term bottom around 38.50. I'm looking for a move back to $42. If I get that, I'll sell my 100 shares (in @ 38.81) and close out my 39/38 July credit put spread.
Finally lets talk about ORCL... I'm short the August 41/40 put spread. I set up this play right after the ER drop back on June 20th. After testing the $40 level the stock is heading up towards $42. If it does get above that level I'll exit the position and take my gains.
As far as my other two positions, KO and TWTR... no moves necessary this week.
For all you folks out there finding this blog for the time, I'm the Option Rider. I play with a wide open hand, for better or for worse! Please feel free to look through my open positions, my winners, AND my losers. Any advice, thoughts, comments or helpful tips are welcomed at email@example.com.