Sold to open these $ZSL calls, as silver falls back from its recent rise. ZSL has been a dream ETF, hovering around 100 for a couple years now, meaning we can continue to sell premium on either side without much concern of breakout. That said, one look at monthly chart warns us to be careful on put side, but carefree on the call side.
STO ZSL Dec 130 call for 2.00
STO ZSL May 165 call for 4.60
Also, Sold to Open $FB Nov 6th 99/104/109 iron butterfly for 4.00. Moved everything a strike higher, now have a wider profit range. Expiration breakevens: 99.54 – 107.46. Max profit $700, max loss $209.
#Earnings BTC $REGN Nov 6th 520/620 strangles for .45. Sold yesterday for 3.20.
Sold to Open the $FB Nov 6th 98/103/108 iron butterfly for 4.00.
Trying for a 1-lot for now, may add more or different strikes later in day. If you have questions on how to trade this, let me know.
This condor I sold yesterday is now going for about 3.30. The call side premium is the same, but put premium has increased. If you didn’t take the trade, you can get more now, or move your strikes farther out.
IV and premium are not too high. I am thinking an iron butterfly may be better than selling naked. The 98/103/108 fly sells for 4.00, with max risk of 1.00. Any other ideas?
Both of these trades look decent this morning. TSLA iron condor could be threatened on the call side with three days until expiry… I will look to close the 235/240 spread when I can without cutting in to my 1.00 credit too much.
REGN 520/620 strangle looks pretty safe to expire, but I will likely try to close early to avoid any biotech surprises.
FB earnings tonight, so I’ll be looking at potential trades, as well as checking out WFM, FEYE, CELG. Let me know of any earnings plays you’re looking at.
SPX continues its climb. Please obey your call spread stops. If you plan to roll up to a new call spread, be sure to wait for spikes or moves higher. The action remains bullish, so limit your risk. Do NOT follow me on the ITM spreads if you’re not comfortable with them. They can strain your account and your nerves if you are not prepared.
Options Bistro 