Yesterday we previewed American Express’ (AXP) Q4 results and detailed a fairly binary trade expiring today for those looking to fade recent strength. Here was the trade and rationale from yesterday: For those looking to …
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2nd Trade Update July 19th, 2012 at 9:37am: With AXP down about 2.5% this morning at 56.90 I am closing the second half of the July 57.50/55 Put Spread at 1.45 for a triple. Action: …
Continue readingTrade Update July 18th, 2012: AXP reports Q2 earnings after the close and the options market is implying about a 3% move vs the 4 qtr average move of less than 1%. Oddly prior to …
Continue readingNew Trade July 10th, 2012 at 2:28pm: Enis and I had been looking for ways to press the luxury retail short without pressing some of the individual names. AXP trading at a market multiple, with only 5% …
Continue readingInternational luxury demand is in danger. We’ve touched on the theme of international weakness multiple times in the past 2 months. Dan has used IBM and NKE put spreads to play international demand weakness. More …
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