My Options Account on June 18th, 2013, Part 2

The market is closed and I'm a little relieved it is.  All my positions are looking good with the exception of Google.  Google has gone up 25 points in two days to reach my call strike $900.  Basically I can't afford anymore upside the rest of the week.  I really hate being in these situations because they generally end badly.  But I still have a 50% probability of a full profit.  The overall market has been up two straight days and I think we are in for a down day tomorrow so I'm holding.  I even bought a put debit spread 895/890 in Google at 1.50 just for fun and because I have conviction the stock will drop.  Google is a great company but does the stock ever go down?  Yes, it does and it will at some point this week.  I lost a total of $1238 in my Google strategies.  I only lost $775 in my account so my other strategies pulled through.  That's why you diversify. Unfortunately for me I have about 30% of my account in Google. 

I did some repositioning today and here's a recap:

Google $900 13 900/905 Call Credit Spreads; 5 875/870 Put Credit Spreads; 8 885/880 Put Credit Spreads - Daily Loss 1,238.  I will make a lot of money if the stock drops tomorrow. 

Apple $431.25 8 420/415 Put Credit Spreads; 8 445/450 Call Credit Spreads - Daily Profit $226

Tesla Motors $103.70 9 92.5/90 Put Credit Spreads; 6 97.5/95 Put Credit Spreads; 7 115/120 Call Credit Spreads - Daily Profit $107.50

Netflix $228.70 6 215/210 Put Credit Spreads; 5 240/245 Call Credit Spreads; 1 225/230 Call Credit Spread - Daily Profit $298

Amazon $282 3 275/270 Put Credit Spread; 3 285/290 Call Credit Spreads - Daily Loss $62

Mastercard $584.41 1 565/560 Put Credit Spread; 1 595/600 Call Credit Spread - Daily Loss $25.50

Priceline $834.82 2 815/810 Put Credit Spreads; 2 845/850 Call Credit Spreads - Daily Loss $26

For tomorrow, I am looking for the market to give back some gains and decrease.  There's a lot of good trades left this week and I'll try to add a few tomorrow.

Jonny

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