Yesterday I wrote about some pinning candidates for the expiration of the April options today. What was the result?
Goldman Sachs
Goldman Sachs looked like it would be too volatile to stay within the break even points of the 120 straddle. In fact, from 10:30 on, it traded between 120.30 and 122.96, closing at 120.42. Pretty tame, but because the Monte Carlo gave it a high probability of wandering out of range I didn’t trade it.
Apple
Apple had the best chance of staying within range of a straddle sale. It opened below 120 and went up from there. Ending the day at 123.40. I didn’t wait for it to stabilize, sold some straddles and spent the rest of the morning buying them back at a loss.
Research in Motion
Research in Motion opened between strikes and stayed between 66.75 and 69.23 all day. It closed at 68.29
First Solar
First Solar had a wild ride. Its low of the day was 142.61 and its high was 147.25. It passed through the 145 strike without noticing it.
Mastercard
Mastercard was pretty flat from 11:50 to 2:09 trading between 160 and 161. Then it shot up to nearly 165. MA closed at 162.57 I was tempted to sell a straddle, but I was glad that I didn’t.
Google opened near 385 and then took off to near 400. After 11 AM it looked like it would stay within the range of 390 and 400. So I sold the 400 Call and 390 Put strangle. After 1:00 PM it looked like Google was trading very close to 391 – 392. So I sold the 390 straddle. It worked out alright, but Google wasn’t really pinned, it just stayed in the range. The most it moved was to 394, but never dropped below 390.
At the end of the day, Google closed at 392.30.
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.