I had a very good day in the market today. As I discussed previously, my main focus this week is on HLF (Herbalife). I strongly believe this stock will go higher or at least not go down. There's a lot of news out on this stock so I believe we see more investors/traders go long which could catapult this stock much higher. Going into the day I had 4 contracts of the 62.50/60 put credit spreads. I added 4 contacts of the 62.50/61 put credit for .41 (32.7%) after the stock was up about .60 on the day. I also added 1 more contract of the 62.50/60 put credit spread for .68. I also bought 1 65/67.5 call debit spread for .85 to take advantage of more upside this week. The stock rose throughout the day and in the afternoon I added 2 66/64 put credit spreads for .85 (69.5%) and 2 66/64 put credit spreads for .95 (85%). At the end of the day my positions in HLF were up $366 after the stock finished up 2.75 on the day. If that isn't an indication of where the stock will be going I don't know what is. The overall market was down and this stock was up over 4%.
I also entered some of my standard credit spreads and here is a summary of my positions:
AAPL $469.55 3 460/455 put credit spreads at .78; 3 480/485 call credit spreads at .51
GOOG $905 1 885/880 put credit spread at .55; 1 920/925 call credit spread at .65
MA $642.45 3 630/625 put credit spreads at .84; 3 660/665 call credit spreads at .55
NFLX $254.03 2 235/230 put credit spreads at .60; 2 255/260 call credit spreads at .63
My account was up $443 today which is much better than most Monday's. NFLX is my only concern at this point. The stock just shot higher at about 1pm Central and went from $246.80 to $254 in two hours. I'm checking into why as this stock is way overpriced.
Jonny
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