Today I took up all of my ideas from today's video and also picked up another position not in that video.
$USB - sold some puts underneath the market because IVP is high (~80) and the stock is short term oversold as indicated by the RSI and Bollinger Bands. Would like to see this move back to 53 and into the 54s over the next couple weeks.
$GM - Sold some puts underneath the market, again, because IVP is high (~62) despite the fact that the stock is rebounding after a short pullback post-earnings. I'd like to see this retest the earnings highs in the 46s, but will take a rise back into the 45s.
$UPS - Same deal. This stock has sold off strongly over the last few weeks but could bounce over the next week or so as it is in oversold territory. This might be a bit of a falling knife that I'm trying to catch and I hope that I didn't jump in too early!
$BABA - Originally I was leaning towards another delta long bull put spread, but decided against that in favor of an iron condor. This stock looks weak right now; it doesn't appear to "want" those earnings highs for right now. IVP is still high in this stock and will likely continue to drop as the stock consolidates. I'm short the 170 puts and the 205 calls, so this position leans slightly towards the bullish side, which given the strong uptrend so far this year, is the right way to position.
I am keeping an eye on $GILD, as I think that stock is prime for a rebound off of support that it is currently sitting at. I would like to see positive price action before jumping on board.
For complete details see the CLT Options Trading Log, today's video, and my StockTwits stream.