Thanks Deal. Kass has been in and out of ETFC. The Apex situation is interesting - saw one report indicating Peak is using it to go after another 2 brokers who just merged (forget the names) to compete with Peak's Optionhouse(?). I also watch the ETFC bank runoff as I almost moved my account 3 years back. Just got moved out of Platinum team to a Private Client Group - wonder how many more tears they have. I haven't gotten better pricing though and their tools suck (all I want is IV change screening and IV graphing over time and betwenn strikes/months - suggestions anyone?).
I have read some very negative commentary on WAG this week - I like the idea personally though and may trade some this week from safer put side if vols work - never have in past but IVs are much better in many names currently (though tried to get MCP and MS to work and with cushions I like I am unable to get my 1% per month).
I tend to do best when mkt is bottoming, IVs are high and stocks meander. I hope that is where we all. I like things enough to start trading a small acct for my mom this week - names to include still being formulated and will move out 1-2 strikes further than normal. I had a list yesterday but already forgot! Middle age moment? Too much reading forces old facts/ideas out - I do have info in a note somewhere though!
I saw a note on Seeking alpha on costs of hedging coal stocks. Of the higher quality guys, ANR was highest (above ACI surprisingly) with BTU and CNX much less (diversification helps!). WLT not covered but I like the longer dated stuff there! My only exposures currently are deep ITM short ANR puts (keeping hoping for recovery rally), short way OTM ANR puts, short calls on 2/3 of exposure mainly short dated, and short PCX calls from day bk rumors started about 4-6 weeks back. This has been my best recent trade.
CIE, CEDC, ATPG (very small but still intrigued as I think bk comes in November and IVs are huge), and JCP destroying ability to do much else for now. IDCC, ANR, STX, IOC, LCC, and MMR are other big names with STX and LCC being top positions for now though CETV is close. Smaller exposures include SD, FCX (2-sided), XCO, IOC (top 5-6 but way way way way way OTM), MNTA, AAMRQ (residual short calls), PCX, BKS (2-sided with large premiums involved but smaller margin), DAL, ELN (long stock only in IRA with high risk event coming - may sell), GENT (long stock only in IRA), FSLR (2-sided and very small, recommended as put purchase in one newsletter), GDP (was huge in May and June but have not re-loaded fully), ITMN (top 5, 2-sided but mainly way way way way OTM puts with hedged short calls hurting recently), MHR, OCZ, TRGT (stub only), TSL (stub), and YHOO (reduced).
CJES looking interesting as a short given oil and gas prices. Thoughts anyone?
I am sure I missed some names as CIE, ATPG, LCC, STX, JCP, IDCC, IOC, GDP, and coals take my main intention along with ITMN from time to time.
Jon |
