I looked at the market and my positions a few times per day, looking to either add new positions, adjust my existing positions, and/or take profit which is my favorite part. I was tempted to buy into UA (Under Armor) when it dropped almost 15% but decided to pass. A stock that dropped this much, typically has further to fall so I'll patiently look for better entrance point or move on to other opportunities. I sold out of my gold miners position when it popped almost 5%, eventually making a profit. It was in the red for the past few weeks. I added a position in LLY (Eli Lilly) when it dropped $1 dollar this morning after earning. As you can see, LLY is actually up for the day but I'm showing in the red for $22 dollars. This is because the volatility actually moved up a bit. LLY is not a liquid underlining and I typically stay away from these illiquid assets. Unless, of course, I don't mind owning the stock, which is the case with LLY. With biotech taking a beating for the past few months, I thought this would be a great entry point. With oil futures dropping, I'm now long delta so I moved the call legs down so I'm slightly long or neutral delta (not shown).
I'm very light in my trading and existing positions. I do not see a lot of opportunity as we continue to stay near market top. Both CMG (Chipotle) and APPL (Apple) dropped after hours with earning announcements. I'll monitor and perhaps add new positions tomorrow. Good night!