Aug 062014

– BUY MMM 100 SEP 14 140 CALL @2.47
This is the biggest move down for 3M in a long time. This is a bit of a risky trade and would not recommend it because I could have placed it to early. The stock seemed to have hit resistance and the other companies in the same industry seem to be coming off of lows also. It really took a dump on no news from what I could find.


8/7/14 – SELL MMM 100 SEP 14 140 CALL @2.18
I pulled out of this. I knew it was risky. Took about a %10 loss. Market is not wanting to go back up here. Seems like it’s running into a wall. I could have pulled out at a better price but I was trying a “stop” on this trade and it didn’t trigger at the price I thought so I canceled it and got out.
So here’s what I was looking at. Below is a chat of the “/ES” which is the S&P futures. Below the ES is the breadth indicator which is the advance/decline ratio. If you see the breadth going down then that means more ppl are starting to sell. The range is mostly between 1000 and -1000. The morning started out good and dropped off hard.
Hope it helps!