Market assessment:
I brought AAPL options today. With the iPhone launch and 2Q earnings coming up, I expect upward movement. I am long $580 August calls. FB also jumped today. Morgan Stanley started shorts on FB stock. That should put more downward pressure on the stock. I am still not playing in FB options as they are not that liquid and bid-ask spreads will kill any short term strategy.
Spread trade strategy:
Market moved 2% today and I lost a bunch of money. Overall, I am still positive, but today was one of those days that I would like to learn to avoid. My strategy only works if the market doesn't move much. I am predicting some downward movement tomorrow where I recoup some of my losses.
I brought AAPL options today. With the iPhone launch and 2Q earnings coming up, I expect upward movement. I am long $580 August calls. FB also jumped today. Morgan Stanley started shorts on FB stock. That should put more downward pressure on the stock. I am still not playing in FB options as they are not that liquid and bid-ask spreads will kill any short term strategy.
Spread trade strategy:
Market moved 2% today and I lost a bunch of money. Overall, I am still positive, but today was one of those days that I would like to learn to avoid. My strategy only works if the market doesn't move much. I am predicting some downward movement tomorrow where I recoup some of my losses.
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