Yesterday pulled quite the rug under some of the call plays that looked great throughout the morning. This market can be extremely difficult at times, and yesterday taught us why you need to be nimble.

GOOG made a nice move to $764 and pulled back to $749 eod and there were quite a few plays with similar selloffs towards the end of the day. I think this is still a pullback setting us up for new highs as opposed to a correction. Nothing is ever certain so will be playing the next few days a little more cautious.

I do hold quite a few OCT expiration plays, so not as worried about the intra-day except for some of the weekly positions i hold.

Here are a few im watching for possible flips today:

GOOG - may look to get back into the 775 calls if GOOG shows any support. Those calls hit 4.50 and fell all the way back to 1.25 in an hours time.

LNKD - continue to look for entry for calls, now the 125s maybe a nice try. Will wait for some volume and $121 before taking a look.

WYNN - Will break one of these days. It tired yesterday then fell almost $3. Looks good PM and will wait for $115 break to get more of the $120 calls.

 

Still holding FDS calls and will hold if it breaks and holds 100 in the next day or so. Other tickers on watch:

JBL, PCLN, AAPL, BIDU, SINA, MLNX

 

Lets have a great day folks!

 

- Jimmybob