It was a tough trading week for this expiration - the beginnings of earning season, a short week, low volatility, CEO news and some big tech earnings with mixed results. However, we posted some FANTASTIC winners, with not one but TWO big gains on ISRG (I've put a chart for learning purposes below so you can see what I was seeing). If you're not getting the email alerts you are simply missing out. Just ONE ISRG trade pays for YEARS of the service. What are you waiting for? Meanwhile, only the ones who are members with me got on the trade - and there was one (Hawkete) who managed a humongous winner:
BAGGER VANCE RULES bought 5 Jan.$300 calls @ $5.50 yesterday. Will sell today for a GRAND SLAM.
THANK YOU BAGGER VANCE & keep those WINNERS COMING
Results for the week:
# January 21, 2011
# 06:40 | Bagger Vance ORCL ($32.50) Sold to Close ORCL 30 CALL 012211 Jan 30 calls, at $2.48 +13%
# 06:35 | Bagger Vance ISRG ($325.00) Sold to Close ISRG FEB 320 CALL Feb 320 calls, at $14.20 +220%
# 07:31 | Bagger Vance BWLD ($46.00) Bought to Open BWLD 012211 46 C Jan 46 calls, at $1.75 (expire)
# 09:59 | Bagger Vance AKAM ($55.00) Bought to Open AKAM 012211 55 C Jan 55 calls, at $2.30 (expire)
# 08:31 | Bagger Vance LVS ($46.50) Bought to Open LVS 012211 48 C Jan 48 calls, at $2.12 (expire)
# January 19, 2011
# 07:17 | Bagger Vance BIDU ($108.60) Sold to Close BIDU 012211 105 C Jan 105 calls, at $3.90 47%
# January 18, 2011
# 10:57 | Bagger Vance ISRG ($295.00) Sold to Close ISRG FEB 300 CALL Feb 300 calls, at $11.30 +183%
# 07:40 | Bagger Vance MOS ($84.70) Sold to Close MOS 021911 80 C Feb 80 calls, at $6.60 +103%
# 07:40 | Bagger Vance JOYG ($92.80) Sold to Close JOYG JAN 90 CALL (012211) Jan 90 calls, at $3.10 +114%
A very sinister close on escalating volume toward the end as the bulls could not really pull this one out for a defined change in trend. The last couple of days have been rather nasty. Earnings have not been greeted nicely (save for IBM, GE). Breadth was lousy and the reversal from the am is quite notable. There seems to be quite a bit of supply here. Next week comes a Fed meeting and a flurry of earnings confessionals. The market is in a precarious position right here - and it really pays to be cautious. I'm not bearish by any means, we should have more winning opportunities coming soon, but as option traders we don't like choppy markets. With news coming from all sides the risk is higher than it's been in quite awhile.
Below is a chart and notes on ISRG and the trades we did over the last week. Hope you had a chance to hope on board.
Hit 'em straight! Bagger