What worked in May
Earning play - BWLD (still need to eat there, at least once)
cash covered puts AAPL, CHK, CNH, HAL, PCU
Double Diagonals: EEM, IBM, IWM, WMT, XLE
Directional: GLW
Calendar: MCD, SMH
Condor: NDX
Butterfly: RUT
What did not work
Directiononal CERN
Double Diagonal: EWZ (doing it again this month)
Eanrings play: INTC (again), SBUX (need to stop going there, don't like their coffee anyhow)
Condor: RUT
For June I am looking for a more sideways market in terms of IV and market prices. So I will try to moderate my vega exposure. Especially were it is built up from time spreads.
This morning I add a bunch of trades - see my page on http://www.mytrade.com for some details - you will find a butterfly on WMT, DBl Diagonal on Cost and Dia and a calendar on KO.
BTW expecting a sideways market doesn't mean that my trades are more narrow or more centered then if I would expect a trending market. Most of the trade I enter are without a directional bias.
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