It hasn't been an overly active week for me. A couple of quick wins, a hedge/fade trade that didn't work one bit, one name not moving much at all, and two triggers not firing.
Nvidia (NVDA) and Bristol-Myers (BMY) provided quick pops to the upside. Two bullish plays that not only worked, but worked much quicker than expected. The same can be said about the bearish trade on Hasbro (HAS) . A gift come early as it only took a few hours to drop after yesterday's look. If I were in marketing, that's where my article would end. Remember that when you see tweets about winners and returns.
It wasn't all eggnog and mistletoe, though. The puts on the Financial Select SPDR Fund (XLF) have spent the week bleeding red along with the put spread speculative play on the iPath S&P VIX Short-Term Futures (VXX) . They've been the Christmas red to my Christmas green from above. While HAS permitted a quick out and BMY plus NVDA allowed for some partial profits, VXX is going out in flames and XLF needs to get moving lower as time is ticking. If I don't see something here by Tuesday, then I'll likely be moving over feeling theta burn.
Facebook (FB) is set up for a trigger today on a close above $121, but it's early and it's Friday, so I will look at an end-of-the-day play, probably something of a call spread nature with the long call being in-the-money, around a $118 strike, which is where I would have my stop if I were buying the stock.
Next week will slow, but we shouldn't be dead. Christmas falls on a Sunday, so I don't expect to hear the screeching halt of trading until Thursday afternoon. If you are riding long option positions into this week, I would set my alarm for exit for Wednesday, especially if you are carrying size. When the market thins, positions will be harder to escape without having some impact on your exit price.
I'm still very tenuous on the market now, so I will be stingy about any other upside plays until early next week.