Tom from Thinkorswim presented a few bearish trades last week at SF Moneyshow. He's a contrarian trader and expects a pullback before Sept expiration.
Below is a list of some of his trades.
OIH
6-9% lower
Sell Sept 110/115/95/90 IC $2.35
QQQQ
8% lower
Buy Sept 41/39 put $0.85
EEM
8% lower
Buy Sept/ Dec 33 put calendar $1.29
AAPL
7% lower
Buy 150/160/175 call butterfly $0.00
RIMM
2-4% lower
Buy 70/75/80 call butterfly $1.12
Monday, August 24, 2009
Tom Sosnoff Bearish Market Opinion
Wednesday, August 12, 2009
IBM Call Assignment
I got called on my IBM 105 calls last week. It was part of my guerrilla calendar strategy that start back in June. IBM had moved steady over the past few weeks but I had collect some premium in July options so I didn't sweat too much on the strong bull run. I covered my short position immediately and was out for very small loss.
Lesson learned, need to adjust sooner once short options are ITM.
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