I put on four calendar spreads today. A double calendar on PALM, single calendar on NAL, and a single calendar spread on INTC.

So in to PALM, I put on a double calendar. The stock has mainly stayed in a range of 16 to 17.5 for the last 6 weeks or so. Got a 6 point IV advantage, and they cost me about 0.40. The bid ask spread was 0.20 - 0.50, I put in an order at 0.40 and was filled almost immediatly. I need to be a little more stingy on my spreads. My target it 0.55 per spread to sell.

Also an INTC call calendar. the puts did not have an IV advantage. INTC was at 23, but it has fallen. And that is what has boosted the IV a little. As when ever trading INTC, it never really moves. It is a big friggin boat. the spread was 0.42 ~ 0.47, I got in at 0.45, right in the middle. My profit target is 0.63.

As for risk, I am positive Theta of course. Delta is positive on both stocks, more than I would like, but still good. I do have negative position Gamma, but I do not expect these stocks to move very much.

I did manage to put on a small position in NAL. I got in at 0.40. Once again a profit target of 0.55. I waited on that trade about 1 1/2 hours. I think someone was trying to get out of a position in a thinly traded option. The bid went from 0.15 to 0.35 in a couple of minutes, and the ask went back to 0.50. I was stingy on that one, and left the day order in for the price I wanted. NAL had a good earning report that pushed it up. I do not see more upside.

I do admit, sometimes when I decide to pull the trigger, I don’t like to wait. But I am getting better at it, putting in a day order and waiting for the market to come to me. If it doesn’t come, there are always other trades.

PALM UPYRW + UPYSW Limit 0.50
PALM UPYFW + UPYGW Limit 0.60
INTC NQGX - NQFX Limit 0.64