Option Spread Report - March 21, 2013

The Oxen Group

Option Spread Report - March 21, 2013

By Oxen Options — Author

The following report is our daily guide to what's happening here at The Option Spread Portfolio. The report gives current positions with entry price, target exit, and stop loss. Below the position table, we have given notes about each portfolio for the day. Finally, we have given charts/stocks we are watching for the given day. At the end of the report, we report new positions throughout the day.

Current Positions

Ticker	Entry Price	Target Exit(s)	Stop Loss
CVX (110/105 Bull Put Spread, Apr20)	0.70	0.00	0.30
CP (110/105 Bull Put Spread, Apr20)	0.50	0.05	0.80
SPY (156/158 Bear Call Spread, Apr5)	0.29	0.02	TBD
ORLY (100/95 Bull Put Spread, Apr20)	0.80	0.30 (1/2), 0.00	1.05 (1/2), TBD
TEX (30/28 Bull Put Spread, Apr20)	0.25	0.05 (1/2), 0.00	0.30 (1/2), TBD
SPY (155/157 Bear Call Spread, Apr12)	1.10	0.50 (1/2), 0.10	1.40 (1/2), TBD
TLT (114/112 Bull Put Spread, Apr20)	0.30	0.10 (1/2), 0.02	0.42 (1/2), TBD
CMI (120/125 Bear Call Spread, Apr20)	0.70	0.20 (1/2), 0.05	1.15 (1/2), TBD

Notes:

None.

New Positions

Options Play: Cummins (CMI)

Position: CMI, Apr20, 120/125 Bear Call Spread, 4 Positions, 68% Allocation

Portfolio: Options

Analysis: We are continuing to add more bearish positions to the mix. CMI looks weak right now. The stock broke its 50-day MA today and has been declining for a couple weeks while market was still moving up. The company has declining revenue and earnings year/year to report in April, and we believe that slowdown will keep shares in check. A lot of open interest in shorting calls as well.

Entry: 0.75 or higher.

Exit: 0.25 (1/2), 0.05 (1/2)

Stop Loss: 1.10 (1/2), TBD

Timeline: Midterm Trade

Our Entry: 0.80

Good Investing!

The Oxen Group

Posted to The Option Spread Portfolio on Mar 21, 2013 — 8:03 PM

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