Hi Jon,
I like doing NP's and CC's on beaten up stocks like KLIC,BRCD,XRX,EK etc that the market has cast aside as long as the risk/reward is there and prem is enough.
Also do NP's on quite a few others like CSCO,GE for longer durations.
Etrade not doing weekly options has me rethinking my business with them, have been with them since they took over Brown &Co.
No execution problems, but when your an options trader you need every edge possible and the weekly series has become very important to me and I use Ameritrade to put on the positions there.
You have to wonder why with Citadel a huge options MM they don't have this capability. The new webisite was to me a total disappointment as it just slowed things down a lot. Sometimes when things ain't broke you shouldn't try and fix them.
As far as trading troubles on stuff, I can feel the pain when my naked calls are exercised and the machines just keep ratcheting things up. Was exercised on 2/11 naked calls for 4500 IWM @ 82 and sold the 82 puts for 2/19 for .56. With all prem recieved short puts and calls am now under water, but not by too much, also going into this weekend will be short another 3500 IWM @ 83 and 2000 SPY @ 134 via options expiration, so you can see where my bias lies as far as the market goes. This market is ignoring too many issues with the absence of fear and when the turn comes a lot of froth will be taken out IMHO.
Haven't traded the others that you mentioned Like SKX,MMI, but always on the lookout for opportunity.
Good trading
dealmakr |
