Option Block 401: Apple vs. Swiss Franc

The Option Block

Jan 16, 2015•1 hr

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Episode description

Option Block 401: Apple vs. Swiss Franc

Trading Block: Switzerland stuns markets by giving up on currency peg. Big moves in gold. The Tesla free fall: Elon Musk now $2.8B poorer. US stocks head lower; crude oil price falls again. Intel moving up again.

Odd Block: Puts go up in Taiwan Semiconductor Mfg (TSM), calls roll in WeyerHaeuser Co. (WY), and size call buyer in Brisol-Meyers Squibb Co. (BMY)

Startegy Block: Uncle Mike discusses long SPY positions

Mail Block: Listener questions

Question from Faye Cuzername - On 10/24 I bought 2 Dec 305/315/325 call fly in AMZN for $0.91. Stock moved through the fly so today (11/14) when AMZN @ 326, I sold it for $1.50. A whopping $.55/ contract after commissions. What adjustments should I have considered with the fly since I do not see AMZN retracing during the Christmas season? Note that I have a 9-5 so I am not watching the screen all day if that affects what you suggest.

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