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Closing

Closed MGM Position for $1100 Profit

The markets rallied hard today, but I do not think that this crisis is over. I want to raise cash. MGM seemed like a good choice for liquidation based on its particularly massive rally. Sold MGM 100 for 11.47 and bought MGM Apr -17 Put for 5.60 debit for a…
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Scratching Natural Gas Trade

Well the bottom really fell out of natural gas after I bought it so I am glad to be able to scratch this trade on a minor rebound. I still think that energy is oversold so will look to buy more on a drop. Sold /NG March for 1.95.
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Closing /ES Call for a Profit of $487.50 per Contract

Here is an opportunity to cover the /ES 3220 Calls. Many purported reasons in the news for the market to come in including Coronavirus, Bernie leading other democratic nominees in recent polls, more conflict in Iraq, etc. Those maybe the reasons or maybe the market was just overbought. Doesn’t matter.…
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Closing APA Straddle

This trade went in the wrong direction immediately. By following the mechanics of rolling the options, I was able to scratch the trade. It took about a month for this to play out. The market has been on an unrelenting tear which is limiting volatility related opportunities. There is very…
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Closing the NOB Spread

I decided to close out the NOB spread when the opportunity came to scratch it. I won’t be so fast to put this trade on again given that I have scratched two of these spreads consecutively. I see some other opportunities on the horizon and this trade was taking up…
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Closing US Steel (X)

X shares rose after its earnings release and the price of the 11 Puts in November collapsed so taking profits of $36 per one lot. That would be a $360 profit if holding 10 options contracts. Bought X Nov 11 Puts for 0.09 debit.
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