Saturday, April 13, 2019

Opening of spring "earnings season" inauspicious .. short /ES painful, short LYFT just fine!

Three banks had earnings on Friday ... two won and one lost (JPM):

So after 3 earnings trades this "season" we're down a few dollars ... JPM lost more than the other two together won ..

I did dodge one bullet and made one smart trade, I think:

Since the /ES futures had been bouncing off 2900 and going back down every time they touched it, I thought, hey, a 2905/2910 short call spread! Why not? I didn't, though, and on Friday:

I am continuing to sell puts against my short /ES position, but this just gets it further away, darn it ...

But my best trade of the week concerns ride-sharing company Lyft ... I can't find the reference where this was mentioned, but I heard on Tastytrade, I think, that they've so far lost $17 for every ride they've given.

And their IPO has been less than stellar:


So I sold the 69/74 call spread expiring May 3 and should get 1/2 the credit on this on by April 22 or so ...

Earnings season takes off next week, with some big ones:



More next week!

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