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Weekly Wrap-Up 8/18/2011: Quick Profits From Downside Trading GOOG, NFLX, CMG, SODA, FAZ, APA

|Includes: APA, CMG, FAZ, Alphabet Inc. (GOOG), NFLX, SODA

We started out this week being very cautious.  Last Friday, we locked in partial profits on IDCC calls, a potential buyout play.  But, on Monday, GOOG announced buying MMI, instead.  We took the rest of the IDCC calls off, and, came out even on the IDCC trade.  We also got out of our longside plays early in the week to prepare for a possible big downside move on the market.

The big drop on Thursday gave us big profits on our downside plays, with +500% gain on FAZ calls and +100% profit on APA puts.  Here are the closed trades for the week:

12:48 | HappyTrading WYNN ($134.50) Sold to Close 08P135 Aug 135 put, at $2.55 +31%
12:35 | HappyTrading APA ($97.80) Sold to Close 08P100 Aug 100 put, at $2.80 +75%
12:10 | HappyTrading APA ($97.40) Sold to Close 08P100 Aug 100 put, at $3.20 +100%
07:12 | HappyTrading FAZ ($66.30) Sold to Close 08C60 Aug 60 calls, at $7.00 +536%
07:04 | HappyTrading FAZ ($65.80) Sold to Close 08C60 Aug 60 calls, at $6.40 +482%
10:15 | HappyTrading BIDU ($135.00) Sold to Close 08P135 Aug 135 put, at $2.80 +8%
09:09 | HappyTrading BIDU ($133.80) Sold to Close 08P135 Aug 135 put, at $3.70 +42%
12:23 | HappyTrading BIDU ($135.70) Sold to Close 08P135 Aug 135 put, at $3.00 +15%
06:49 | HappyTrading IBM ($171.11) Sold to Close 08C170 Aug 170 calls, at $2.60 -21%
08:50 | HappyTrading GOOG ($556.00) Sold to Close 08C580 Aug 580 put, at $2.10 -72%
08:48 | HappyTrading BIDU ($144.10) Sold to Close 08P145 Aug 145 put, at $4.00 +38%
08:16 | HappyTrading WYNN ($147.50) Sold to Close 08C145 Aug 145 calls, at $5.00 +16%
07:22 | HappyTrading IDCC ($60.60) Sold to Close 08C65 Aug 65 calls, at $2.10 -68%

We were patient with our trading this week, and did not get flustered by GOOG's surprise on Monday.  By Thursday, we were able to turn this week into another solid winning week!  In addition to the trades through email alerts, we also made many more quick trades (mostly intraday doubles) in the Trading Room (see articles from Tuesday and Thursday)!  

I'll be back tomorrow with next week's Market Forecast.  Enjoy the weekend!  Either do something to pamper yourself, or something fun that you haven't done before, or both!  

Have a great weekend and HappyTrading! ™

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