Pinning Ideas – Results Update

Seems like google will be pinned around $470. Google backspread was profitable with $1.20 on $$8.80 margin. SHLD Iron fly is also fine and so is OIH. Conngratulations to those who played in one way or the other and benefited from the market action today.

Cheers and profitable trading,

OptionPundit


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4 responses to “Pinning Ideas – Results Update”

  1. Optrader Avatar
    Optrader

    Well, as posted , I did the $470’s butterfly on GOOG. Bought at $8.30, sold 2 minutes ago at $9.6. Great trade. Shows that you can initiate those late in the day, once the pinning is obvious, and still make some money.

  2. OptionPundit Avatar

    Congratulations and I am happy for you Optrader that my posts were helpful.

    Profitable trading,
    OptionPundit

  3. Optrader Avatar
    Optrader

    Yes, very good ideas, thanks.

  4. JDG Avatar
    JDG

    I enjoy reading your blog. Keep up the good work!

    Traded two setups today on GOOG, one was an iron condor with
    the short strikes at $460, that one didn’t work too well. Around
    1:30 today I initiated a bear put spread with the $470 short strike
    and $480 long call. That was a nice return in 2 1/2 hours.

    Question for you is what is the official closing price for options
    expiration? GOOG closed just under $470 today, but has risen above that
    amount in after hours. I closed out the position around 3:55, but
    I left $.05 in the plate. Just curious how this works.

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