Saturday, May 16, 2015

May 15 Expiry Recap

May options have closed and my option bets on Q1 earnings missed.

The bottom fell out of LCI, and after selling the April calls against mine and selling the May calls for too much(*), the position still closed down, -66.2%. I still own June $55 calls and stock.

INFN failed to impress, after spreading the calls, -36.2%.

Finally, ODFL faded. After spreading, -8.0%.

* I had a limit sell order in for my LCI May $54 calls. The share price fell leaving me way overpriced. Fortunately for me, someone's market buy order got away from them and I was there to fill it. Sometimes the ask really is the ask. Careful with those market orders on low volume issues!

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