Earnings Trades update – 06/07/2013

We are into the final month of this earnings reporting season so things begin to slow down in terms of the number of reports each day. This is a good time to review existing earnings trades (personal accounts):

  • $ESRX I am short the June 55 Puts from 04/29. These currently have a bid/ask of .04/.07 so it seems prudent to just buy them back here
  • $ASNA I am short the September 21 Call from 06/04, the remaining piece, and look to take off very soon. The bid/ask is currently .20/.30
  • $DG I have a June 50/50/52.50 Risk Reversal Call Spread trade on (short the 50 Put, long the 50/52.50 Call Spread) from 06/05. This trade is looking good so far with the Puts trading at .30 and the Call Spread trading at 1.50
  • $COO I am long the June 105 Put from 06/06, the remaining piece, and it is likely to go poof given that price is currently above $119 post-earnings