Option Block 267: Betting Against Yourself

Trading Block: A relatively flat day on the street. A big day for Silver and Apple –both  up 3%. It was a good day for Tosaw!  Blackberry exploring strategic options with the  stock up 11%. Tesla finally sells off.

Odd Block: Review from 7/1 - Air Products and Chemical (APD), calls trade in Sanchez Energy Corp. (SN), combos trade in Rockwell Medical Inc. (RMTI), call spreads trade in Micron Technology, Inc.(MU).

Mail Block:

• Question from D. Adams - What is the best way to express a long-term bullish position using options?
• Question from Terry Russ, Scottsdale, AZ - Can you guys run down the difference between an iron condor and an iron butterfly? When would I want to use one vs the other? Thanks for this great show. 

Around the Block: Earnings are still happening. Cisco  on 8/14, and Cosi on 8/15.