July/August earnings season

Grinder,

My view was to shade the put side on AMZN..I dont claim to know which side will win, just that there will be enough volitility to cover the debit and try to make some cash..

So yeah my thinking is the short side, but if I had done that yesterday I would not have made 50% on the trade. I ended up making about 60% on the trade and still left plenty on the table selling early today...

BIDU is too expensive. To straddle the 180s it will cost you 20%..32 plus per contract and they will suck it right out once the earnings are out.

I dont like it....

An AAPL 130/140 will run about 20 per contract with both sides being in the money, while the 135 will cost 15 per and that leaves the puts out of the money.

To me the FFIV at 11 per contract makes good sense, but then there too if the stock doesnt move 10% you are screwed..

crap..

I go away and FFIV moves up from flat to up 1.75..

Totally screws my 85 straddle.

Market just kicked in gear the last 30 min.

My gut says AAPL does well..

If I take a position it will be on FFIV and AAPL..screw BIDU.

Grinder I feel for you on IDMI I am holding it too..what a stupid play that was, I think longer term it pans out though..it better anyway.

120 AAPL puts???? geeeez you are stretching arent you?

Grinder,

Just spent the last 15 min trying to get both sides of my options in.

Here are the plays for tonite, nothing big...

1 AAPL 140 call spent 6.50
1 AAPL 135 put spent 6.50

2 FFIV calls AND puts 85 strike spent 2240 in total

So the FFIV straddle and the OTM AAPL straddle..

Looks like FFIV is going lower..will see if it goes low enough to cover my straddle..

Looks like BIDU up 30 pts at 213, but that doesnt even cover the straddle premium on both sides.

From initial moves, both my straddles are going to burn today..

AAPL not moving much, FFIV down a few..not good enough to cash.

Lucky I have time on my side, so they arent worth zippo but the MMs will suck out premium strong tomorrow so I will lose part or all I made on AMZN

yup..it was definately a long shot play going against a strong earnings and momentum stock, but you knew it was a long shot.