June 16th, 2014 Positions and Market Update

Markets opened in the red, found a bid right away, and then hit the high of the day a little after 10am, before bouncing around the rest of day and closing slightly higher. Iraq continues to be a concern for some folks, and I am not going to be naive enough to shake it off as another one of these market events that we have had over the past few years.. ie. Ukraine, Syria, Egypt, Libya...ect..ect. I do find it amusing that folks are talking about Oil and the Middle East like its 1980... but hey, what do I know.

Tons of movers today, as the high fliers are coming back to life. TSLA, SCTY, Z, and others provided some big gains on the call side. It was a great day all around, and ironic that TSLA did the same thing to me that AMZN did... which is run the week I say I am staying away. Of course I could not stay away, and did add $230 calls, which I sold way to early( the calls closed at 2.86 on the bid from my .33 entry). I am still holding $240s and think TSLA continues it's magic tomorrow.
I did lock some positions into today, not because I dont think they continue to run, but because I had too much risk on. I think I placed about 10 trades today, and thats way too many for how I usually trade.

Here are my current positions:

Trade log 6-16-14

I will have a write on SCTY at some point in the next few days. I really like that and may continue to add later dated calls tomorrow.

Have a great evening and GO USA!!

- JB

JimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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