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Hope to share some trading ideas. Here are some of my trades I did last few days. Comments are welcome. New ideas are more than welcome.
1. US listed Chinese Stocks:
RENN: sold July and Oct $7 puts.
CMED: sold Sept 7 puts.
Bought small XIN, VALV, SNOFF, XNY, SKBI, YGE as lottery tickets.
LDK: bought Jan 12 7.5 calls, sold Jan 12 7.5 puts at nice premium. (synthetic long) because puts are expensive relative to calls.
Not sure whether these companies have accounting frauds or not. That's why all these trades are small. My reasons for these trades: sentiment is universally bad against Chinese stocks, especially small caps. Well, you know the story. Many have huge shorts and borrows are tough (that's why puts are expensive relative to calls). Stocks already got killed. Many are trading below cash and book values. Option implied vols are high. They can't all have frauds, can they? Is anybody here familiar with these companies? I would love to hear some comments.
2. Long gold, short copper: technically gold looks strong, copper looks weak. Other base metals are also weak.
3. Currencies: long gold, short GBP, EUR. QE2 is over. Short term USD should be strong. PIGs plus weaker Eurozone economy. Gold mining stocks have been underperforming gold price. Today they showed some strength. time to buy GDX, GDXJ? I bought some KGC last few days. partially wrote the Jan 13 17.5 calls at nice premium.
4. Buy writes on big cap dividend stocks like phones, utilities, pharmaceuticals, consumer staples, partially hedged with S&P 500. If the general market doesn't go down dramatically, then without leverage, expect to make 3-6% on dividends, and additional 3-10% on time premiums (depending on how much risk you want to take) . You can also leverage up a little bit if you think the stock market is a fairly priced trading range type of market. You can adjust your hedge depending on your view of the general market. |
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