Shared by
skipjackrick
+$2220. Scaled into a XOMA short position using JAN puts to buy some time premium and less volatility. This stock had been pumped by infomercials over Thanksgiving week and knew sellers into the catalyst were going to take profits. No real setup as this was a swing position. Scaled out slowly as stock dropped.
Took some long shares near the bottom to help give me some time to get the pricing I wanted to exit the options. Just in case it bounced I had some upside protection.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-11-28 12:22:00 | JAN17 15 5 PUT | buy | $0.6500 | long |
| 2014-12-03 09:41:00 | JAN17 15 5 PUT | sell | $0.9000 | long |
| 2014-12-03 09:41:00 | JAN17 15 5 PUT | sell | $0.9000 | long |
| 2014-12-03 09:54:00 | JAN17 15 5 PUT | sell | $0.9000 | long |
| 2014-12-03 10:01:00 | XOMA | buy | $4.870 | long |
| 2014-12-03 10:01:00 | XOMA | buy | $4.870 | long |
| 2014-12-03 10:05:00 | JAN17 15 5 PUT | sell | $0.9500 | long |
| 2014-12-03 10:07:00 | JAN17 15 5 PUT | sell | $0.9500 | 0 |
| 2014-12-03 10:32:00 | XOMA | sell | $4.880 | 0 |
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