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Happy Mother's Day! Weekly Wrap-Up May 12: VRTX, CMI, LNKD, GOOG

|Includes: CMI, GOOG, MSFT, Vertex Pharmaceuticals Incorporated (VRTX)

Happy Mother's Day!

It was another choppy week on the market. Stocks struggled to find a direction and eventually ended down on JPM's announcement of a $2 billion loss on Thursday. However, we had a strong week with big profits on VRTX, as high as +1185%. We also caught some nice intraday trades, including a +156% win on LINKD puts. Here are the closed trades for the week:

  • 12:43 | Ecstatic Plays GOOG ($608.00) Sold to Close 05C620 May 620 calls, at $3.00 -48%
  • 10:26 | HappyTrading AAPL ($569.30) Sold to Close 05C580 May 580 calls, at $3.30 -49%
  • 12:42 | Ecstatic Plays FFIV ($124.00) Sold to Close 0511P125 May 125 put, at $1.80 +16%
  • 09:47 | Ecstatic Plays VMW ($101.10) Sold to Close 05P100 May 100 put, at $1.95 +5%
  • 09:45 | HappyTrading CTXS ($79.00) Sold to Close 05P80 May 80 put, at $2.55 +28%
  • 07:32 | HappyTrading GOOG ($611.00) Sold to Close 05C620 May 620 calls, at $4.80 -29%
  • 07:31 | HappyTrading GOOG ($610.95) Sold to Close 05C620 May 620 calls, at $5.80 -13%
  • 09:16 | HappyTrading FAS ($94.00) Sold to Close 0511P95 May 95 put, at $2.60 -20%
  • 08:51 | Ecstatic Plays BIDU ($125.20) Sold to Close 0511P125 May 125 put, at $1.50 -29%
  • 07:30 | HappyTrading SLV ($28.03) Sold to Close 05P29.5 May 30 put, at $1.56 +111%
  • 12:50 | HappyTrading VRTX ($63.80) Sold to Close 05C38 May 38 calls, at $25.70 +1185%
  • 12:49 | HappyTrading GOOG ($614.80) Sold to Close 0511C610 May 610 calls, at $8.70 +47%
  • 12:36 | HappyTrading GOOG ($615.50) Sold to Close 0511C610 May 610 calls, at $9.10 +54%
  • 12:23 | HappyTrading GOOG ($612.70) Sold to Close 0511C610 May 610 calls, at $7.50 +27%
  • 11:19 | HappyTrading AAPL ($562.80) Sold to Close 0511P555 May 555 put, at $3.80 -21%
  • 11:01 | HappyTrading AAPL ($562.80) Sold to Close 0511P555 May 555 put, at $4.80 +26%
  • 10:19 | Ecstatic Plays CMG ($397.90) Sold to Close 0511P400 May 400 calls, at $6.10 +17%
  • 08:28 | HappyTrading AMZN ($219.00) Sold to Close 0511P220 May 220 put, at $3.50 +3%
  • 07:39 | HappyTrading LNKD ($102.90) Sold to Close 0511P105 May 105 put, at $4.60 +156%
  • 07:35 | HappyTrading LNKD ($103.70) Sold to Close 0511P105 May 105 put, at $3.70 +106%
  • 11:22 | HappyTrading VRTX ($56.30) Sold to Close 05C38 May 38 calls, at $18.40 +820%
  • 11:08 | HappyTrading CMI ($105.40) Sold to Close 05P110 May 110 put, at $5.85 +102%
  • 09:23 | HappyTrading VRTX ($54.60) Sold to Close 05C38 May 38 calls, at $16.50 +725%

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The weak close on Friday puts the market on a very slippery slope. Financials have now turned weak. There has not been strength in the industrials (ie. energies, mining, metals... etc.). CSCO's earnings on Thursday evening also exerted pressure on the techs. In addition, the uncertainties in Europe are not helping. Still, buyers seem to keep trying to prop up the market. In the face of all the adversities this week, the market held up considerably well. We'll dissect the market further this evening in my Market Forecast for the coming week.

Happy Mother's Day and HappyTrading! ™

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