With two weeks to July expiration, it’s time to review our July positions that will be expiring soon and take any actions that are necessary to reduce risk or take profits. This is the time of the cycle when the theta cost of our long premium plays will start to accelerate against us, or the gamma risk in our short premium plays will start to ramp quickly against us. No bueno in either case. [Read more…]

With earnings for Apple coming up on July 31, there’s just enough time, worthwhile juice, and a significant price level to lean against in order to potentially bite off some quick profits in $AAPL while limiting our downside risk. Since we don’t have much time, lets cut right to the chase… [Read more…]

The running metaphors for Nike $NKE stock are too obvious, so I’ll do my best to avoid them. However, it cannot be denied that last week’s monster gap higher coming out of earnings has launched the stock around the final turn and it is now sprinting towards a big, fat, round number – $100. That big magnet coupled with a pretty common phenomenon called “post earnings drift” following positively received earnings events sets up a pretty compelling case for a profitable move setting up.  [Read more…]