I sold some TBSI October 7.50 puts this morning. TBSI got back above the 50 DMA on higher volume, but it is still descending so I’m still cautious. DSX and DHT are also doing well today so far and I might buy back my DSX protective put while I still have a small profit. DRYS is pretty quiet.
TBSI Hourly
TBSI pretty much destroyed the shippers today. Thankfully I bought some puts to protect my DSX longs.
I’m still short the 7.50 TBSI puts and I don’t mind buying it at that price to start my position. If there is more weakness I might roll them to September.
TBSI-Hourly
I bought some 15 strike September puts to protect my DSX position. The puts I sold to enter this position nearly paid for the protective puts. I’m still short some DRYS and TBSI puts which already have a nice profit locked in. I have some orders in to close those out.
Back to DSX. Lot’s of MA crossovers and it is fighting the 50 DMA which is flat to declining. I still like it long-term but you can’t be too careful.
DSX 60 Minute