Looking to re-enter SHLD

The market opened up this morning.  My gut feeling is there’s downside to the market but not a whole lot.  I did not want to hold SHLD puts through a market bounce.  I sold my SHLD puts when SHLD was $109.80.  It immediately dipped afterwards so I was a little regretful but looking at SHLD now (>$112) I don’t feel so bad.  I turned to First Solar, Inc (FSLR) for a daytrade.  It was down over 8 points so I looked at the Dec 07 Calls $210.  There was a $1 spread between the bid/ask.  I did not want to miss the bounce so I ended up trading the stock. 

Trades:
Sold SHLD Dec 07 $110 puts (KTQXB) -  1 put @ $6.80, 2 puts @ $6.50
Entered at $7.10 on 11/26
-$156.00 loss
stock price when exited: $109.80-$110
stock  price when entered: $109.28

Daytrade:
Bought 10 sh FSLR @ $203.44
Bought 2 sh FSLR @ $202.95
Sold 12 sh FSLR at $205.55
$23 profit

I am all cash but out of buying power for the day due to pattern daytrader account rules.  Today was about preservation of capital. 

Total Account Value:  $4998.  All cash.

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Posted By: Lindsey Wu

News Category: -Lindsey, FSLR, Options, SHLD, Stock

 

 

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