May 16 - Buffett likes AAPL

Busy day for me!  I closed a number of positions.  See my updated P/L.

AAPL

Thanks, Warren for saving my AAPL spread.  AAPL surged 4 percent today and closed at $93.88 after Berkshire's announcement that it has built a $1.1 billion stake in the company.  This move helped my AAPL calendar which had an average front-month strike of $94.25.  I exited this calendar (27% gain on initial debit) and I also bought back my June 90 short puts (46% gain relative to initial credit).

POT

I closed my short POT strangle.  The profits are just enough for three lattes at SBUX.

GOOGL

I closed my short May 720 put for a small profit.  This position was to add some +delta to my GOOGL position.

I had an order to sell my calendar at the market mid-point for most of the day but never got filled.  I tried legging out of my GOOGL calendar by buying the short side first.  That got filled but I'm left open on the long going into tomorrow.  I'll probably regret this, but it gives me second thoughts about GOOGL spreads in the future.  It's just not liquid enough and the B/A spreads are big enough to drive a truck through.  If GOOGL gaps up tomorrow--great!  If not, chalk it up to a lesson learned on the perils of the lack of liquidity of GOOGL options (or my stubbornness to offer below the middle of the market).

My long call spread is also still open.  All in all, I'm currently very long GOOGL right now.  Go GOOGL!

MCD

I added to my MCD calendar with a debit of $0.80 on the June/July 130 puts which I'm very happy with.  The short side is also made up of some May 129 puts to bring my weighted-average short May strikes to $130.  I'll be happy if MCD stays where it is for the balance of the week.  I really like my MCD setup right now even though it's showing an unrealized P/L.