New Trade: $QQQ The Crickets


Despite the recent bout of volatility across almost every major risk asset in the world, it has been my view that U.S. equities were likely to close at or near the highs for the year, largely due to the … [Read On]

Trade Update – Closing $WYNN Calendar for A Loss


Well, this is a mistake we make only occasionally but it hurts pretty bad when we do. That is, getting the story right in a stock yet picking the wrong structure to play it. It has been our sense that most … [Read On]

New Trade – $DE: Roadkill


Yesterday, I laid out the bearish case for Deere (below), concluding: Because vol is pumped, timing on an out-of-the-money put spread like that is crucial and that's why we're not doing a trade right now. … [Read On]

Name That Trade: $CSCO’s CEO Gots To Go


Last night Oracle (ORCL) reported fiscal Q2 results that were broadly better than expected, with forward guidance that was encouraging and much bullish commentary on the call.  The stock is up 8.5%, making … [Read On]

Name That Trade – $TGT Shooting


As a company, Target has had a tough year dealing with the aftermath of the largest corporate data breach in history. They suffered millions in related costs and lost sales causing the company to halt … [Read On]

Trade Update – Taking A Loss in $GE Feb Calls


Two weeks ago we took long exposure in GE looking to play a Dow laggard into what we felt were two potential positive catalysts (analyst day this week and Q4 earnings in Feb).   We bought the (at the money … [Read On]