Question answered: first losses in 0.08 delta earnings trades

I knew it couldn't last, but not with 3 in one day!

Garmin:

CVS:

This was a shortened week, with Presidents' Day keeping the markets closed on Monday the 18th ...

CVS and GRMN (Garmin) both went well outside their expected moves ... both were defined-risk trades and CVS was just on the edge of the short strike when I closed it the next day, so not a big loss. GRMN blew through both short and long strikes and stayed there all week when I closed it for a full loss. DVN was a short strangle that was worth multiples of its initial credit when I closed it early Wednesday, but not as bad as GRMN.

But everything else won: NTES, HLF, HFC, BHC,  DBX,  BIDU,  ROKU,  FSLR ... that's 25 and 3 (89.285%)  overall for the two weeks and still showing a profit.

Even though I have set "close for 50% of the credit" orders, sometimes it's better than that. ROKU I sold for 58 cents and would have closed it for 29 cents or better ... but 'better' turned out to be only 17 cents! If only I'd had 30 contracts instead of the 3 I sold ...

But looking at the largest loss in GRMN: what if I had sold a strangle instead?

I'd have gotten double the credit: 40 cents or so a contract, but the spike in price was about $10, from about $71 to over $81 ... the short strike would have been the same place I had it ($78) and the price I'd have closed it for should have been just a little different than I closed it for, not until Friday, for $3.04. So not very much difference in this case; I'll have to continue monitoring this.

In other news: I continue to be transfixed by very short timeframes and so sold a call spread in /NG, expiring Monday:

• short the $2.70 call
• long the $2.72 call

Credit $130; total risk $350 ... right now (Friday 7:34 pm PST) the price of the current /NG future is 2.698 ... if it will just stay there through Monday, that will be good. Spring is imminent, right?

I also have on the strangle on /NGJ9 options expiring in 32 days at 2.55 and 2.93 ... credit I got for this one was $330, which I want to get 1/2 or $165 ... fingers crossed. Of course I'd love to win both. 

More next week ...