After a long while of staying mostly flat, I have stuck my toe back in for one position on options and a couple more positions on stocks . The latter of course need much less precise timing. The sector I have chosen is somewhat beat up, and I believe only temporarily out of favor — semiconductor stocks.
Here is what I am trading now.

I am long some out of the money Intel options into November and December. Also long INTL, LOGI (logitech), and U (Unity) stocks. As always, if they rally, will sell some options against them, or if I am not seeing them perform, will write some lower strike prices while I wait.
Wednesday is FOMC. I don’t expect it to be a big mover. The market may well rally just to have it out of the way. Not to say there is no risk of further downside, because there always is. Maybe 20 to 30 points in SPY would be my worst case in my view though, and I think that is unlikely enough that I started taking a position on Tuesday.
Thanks,
Joe

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