Jeff 12:47 pm on Thursday, November 12, 2015
Tags: SPXcampaign ( 2,265 ), VXXGame ( 769 )

SPX call spread, UVXY call closings

#SPXcampaign Bought to close $SPX Dec 4th 2170/2195 call spreads for .20. Sold Nov 2nd for 1.25.

#VXXGame BTC $UVXY Dec 18th 80 call for 1.25. Sold for 9.20 avg price in August. Not worth risk when over 80% profit available.

JohnL 1:46 pm on Thursday, November 12, 2015

#SPXcampaign – When you close a position like this will you open another if oportunity presents itself to maintain the same number of spreads for that week?
- Jeff 2:48 pm on Thursday, November 12, 2015
  
  #SPXcampaign – The strategy calls for it to be rolled. The normal roll would be 1.5x position size, one week later expiration. So in this case, if I close 2 Dec 4th spreads for 2.70, I would roll to 3 Dec 17th spreads for 1.80. Timing of the roll varies based on where you think the market may go… if we gap down tomorrow I will try to sell this roll at lows. You can see the roll strategy in the SPX campaign PDF, linked at the top of this page.
  - JohnL 2:57 pm on Thursday, November 12, 2015
    
    Jeff I think I might have confused you! I was refering to when you close a spread at 0.20 would you replace this to maintain the same number of spreads for that week or just move on? Sorry for any confusion.
    
    Off subject – I have to input my email address each time I reply is this correct?
    - Jeff 3:09 pm on Thursday, November 12, 2015
      
      Correct! I was confused, I thought you replied to a different post. For the .20 close, no, that is 80% profit and the trade is done. The margin is then freed up for other trades or rolls. As for new call spreads, I would first focus on selling call spreads 5-weeks out. I would consider adding a “bonus” spread in any week if opportunity arises, but not as a matter of course.
      
      Off subject — you shouldn’t have to enter your email address after the first time. But if you’re having that issue, the easy way around it is to create a WordPress.com account, then you will have a username. Here are the steps:
      
      1. Use this link to set up the username-only account: https://signup.wordpress.com/signup/?user=1. (NOTE: you can add your own blog later if you want). Pick a Username (screen name) and password.
      
      2. You’ll then receive an email to click on to complete setting up your account. At this point, you’ll be logged into your own WordPress administration page. I recommend setting this as a bookmark.
      
      3. Then open a new browser window and type in my full url, optionsbistro.wordpress.com, and then click “Follow” in the lower right. You are now logged in to my site under your new account and username. Set this as a separate bookmark.
      
      If you wish to be able to write your own Posts, let me know and I can invite you to be an author.
      - john4419 3:40 pm on Thursday, November 12, 2015
        
        Jeff, as you can see my name has changed but all appears to be working fine. Thanks
        
        Jeff 4:01 pm on Thursday, November 12, 2015
        
        Can you make original posts, at the top of your screen?
        
        Jeff 4:04 pm on Thursday, November 12, 2015
        
        Sorry, my confusion, I didn’t send you an Author invitation. Let me know if you’d like to Post with us!
        
        john4419 4:22 pm on Thursday, November 12, 2015
        
        I’ll hold back on origianl posts for the time being and will let you know when I’m ready. Thanks