November 17, 2012 at 19:13 PM EST
Weekly Wrap-Up 11/16/2012: AAPL, FB, LVS, CAT
The market sentiment stayed negative this week as the "fiscal cliff" kept the buyers on the sideline.  FB bucked the trend and we caught a couple of quick trades on its bursts.  On the downside, we played it safe with puts on CAT and LVS December puts.  On Friday, the politicians finally showed a bit [...]

The market sentiment stayed negative this week as the "fiscal cliff" kept the buyers on the sideline.  FB bucked the trend and we caught a couple of quick trades on its bursts.  On the downside, we played it safe with puts on CAT and LVS December puts.  On Friday, the politicians finally showed a bit more willingness to compromise and the markets reversed earlier loss to close slightly higher.

AAPL nearly came down to the $500 market on Friday morning, but, traded quickly back up after positive statements were made by the key players in Congress.  We jumped on AAPL calls and grabbed about $10 gain/contract with 2 separate trades.  Here are the closed trades for the week:

  • 12:19 | HappyTrading AMZN ($225.25) Sold to Close 1123C225 Nov 225 calls, at $3.50 +17%
  • 12:14 | Ecstatic Plays AAPL ($524.00) Sold to Close 1123C520 Nov 520 calls, at $12.20 +17%
  • 09:06 | Ecstatic Plays AAPL ($523.00) Sold to Close 1123C510 Nov 510 calls, at $18.70 +50%
  • 09:03 | HappyTrading GLD ($166.00) Sold to Close 12P166 Dec 166 calls, at $2.57 -3%
  • 08:48 | HappyTrading CAT ($80.70) Sold to Close 12P80 Dec 80 put, at $2.43 +6%
  • 08:14 | HappyTrading FB ($23.88) Sold to Close 1123C22 Nov 22 calls, at $1.55 +67%
  • 08:25 | Ecstatic Plays MBI ($6.90) Sold to Close 11P7 Nov 7 put, at $0.25 -44%
  • 07:08 | Ecstatic Plays LVS ($40.50) Sold to Close 12P43 Dec 43 put, at $3.50 +65%
  • 12:57 | HappyTrading CAT ($80.90) Sold to Close 82.5 Dec 83 put, at $3.70 +28%
  • 12:31 | HappyTrading LVS ($41.00) Sold to Close 12P43 Dec 43 put, at $3.10 +46%
  • 12:29 | HappyTrading CAT ($81.30) Sold to Close 12P82.5 Dec 83 calls, at $3.45 +20%
  • 10:44 | Ecstatic Plays BIDU ($94.00) Sold to Close 11P95 Nov 95 calls, at $2.04 -30%
  • 09:21 | Ecstatic Plays BIDU ($92.00) Sold to Close 11P95 Nov 95 put, at $3.50 +21%
  • 08:23 | HappyTrading GOOG ($655.00) Sold to Close 11C670 Nov 670 calls, at $0.72 -85%
  • 08:09 | Ecstatic Plays FAS ($98.00) Sold to Close 11P100 Nov 100 put, at $3.10 +24%
  • 07:34 | HappyTrading FFIV ($90.00) Sold to Close 12C90 Dec 90 calls, at $4.65 +1%
  • 07:33 | HappyTrading V ($141.90) Sold to Close 12C145 Dec 145 calls, at $2.20 -35%
  • 07:23 | Ecstatic Plays CF ($198.80) Sold to Close 11C200 Nov 200 calls, at $1.70 -14%
  • 06:55 | HappyTrading FB ($21.90) Sold to Close 11C20 Nov 20 calls, at $2.00 +82%
  • 06:47 | Ecstatic Plays FB ($547.00) Sold to Close 21.4 Nov 20 calls, at $1.50 +36%
  • 10:04 | HappyTrading QCOM ($62.65) Sold to Close 11C60 Nov 60 calls, at $2.65 +13%
  • 07:54 | Ecstatic Plays SPY ($138.45) Sold to Close 11P138 Nov 138 put, at $0.73 -38%
  • 07:04 | HappyTrading GOOG ($662.30) Sold to Close 11C670 Nov 670 calls, at $3.00 -40%
  • 10:33 | HappyTrading LNKD ($98.60) Sold to Close 11C97.5 Nov 98 calls, at $2.80 +14%
  • 09:58 | Ecstatic Plays LULU ($68.90) Sold to Close 11P70 Nov 70 put, at $1.80 -40%
  • 09:46 | HappyTrading AAPL ($545.30) Sold to Close 11C550 Nov 550 calls, at $6.70 +22%
  • 07:48 | Ecstatic Plays AAPL ($547.00) Sold to Close 11C560 Nov 560 calls, at $3.70 -38%

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As I said in the Market Forecast last weekend, the "Markets now may be more "news-driven" than usual".  Buyers seem to be staying on the sideline waiting for more clarity on the "fiscal cliff" issues, while the negative sentiment continue to push people to take profits before the year-end.  Friday’s quick news conference by our Congressional leaders gave the markets a glimmer of hope.  But, we’ll have to see if progress can continue to be made next week.

I’ll be back on Sunday evening with next week’s Market Forecast.  Have a wonderful weekend!

Good night and HappyTrading! ™

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