Inflation, not economy, now principal risk

Inflation is the 800 pound gorilla in the room, but it is a ghost of a gorilla because you sure cannot see it when mortgage rates are at an all time low (4.54% ?!?!?). This is the point of maximum opportunity. Go short treasuries!

Option Expiration Friday

Ug. Black Friday. Expiries... I've got a few....

Here's Thursday's (7/15) action first:

- Sold 3 (of 4) GOOG Jul-500c @ 8.70 near EOD - not real hopeful of earnings upside but kept 1 call on hand for it (up 5.68, +188%).

- Sold 20 TBT Jul-36p @ 0.17 (-55% - in hindsight, this cash-in was premature, and a good hedge against poor GOOG earnings and a down Friday was lost ....)

- Day traded 10 QQQQ Jul-45c (in at 0.44 out at 0.74, +68%)

Friday's Expiry list: (all of these are -100%)

GOOG: 1 x 500c (-3.02), 2 x 540c (-1.85), 8 x 560c (-2.03)

LEN: 6 x 15c (-0.79)

TBT: 10 x 37c (-0.69), 10 x 34p (-0.12)

$302 + 370 + 1624 + 474 + 690 + 120 = 3,580 total loss.

Action items: roll -10 TBT 40p to August. Clear out NSM near EOD, if over 14.