A light week this week:
Expiring
$SPX 11/13/2015 2120/2145 call spreads
$SPX 11/13/2015 2140/2165 call spreads
$SVXY 11/13/2015 65 calls (covered)
Have a great weekend everyone.
Daily Archives: Friday, November 13, 2015
Options Expiration 11/13/15
Max profit:
$SPX 2110/2120 call spread
Options Expiration 11/13/15
Followers who do not have Posting privileges can respond to the Post with their expirations
Expiring with 100% of max profit:
$NXPI 75 puts
$NXPI 85 covered call
$UVXY 25 put
$VLO 67 & 68 covered puts
$SPX 2125/2145 call spreads
$SPX 2150/2175 call spreads
No assignments. Thanks everyone, have a great weekend!
If you’d like Posting privileges, please email me or reply here and I will invite you.
I posted the wrong price…
I posted the wrong price on those 1800 puts it was .65 cents. Still 21,000 traded.
Closed positions
I closed some of my short options positions for profit in $NUGT, $ZSL, $TDG. I closed some options and stock for losses in $KOLD, $NXPI, $VLO (I intend to roll the KOLD positions once the market settles down). Took off the risk to manage margin should we have an ugly Monday.
SPX trade didn’t fill but…
SPX trade didn’t fill but there may be other opportunities next week. They traded a boatload of puts at the 1800 strike for .80 cents or so.
…and another SPX stop
#SPXcampaign Bought to close $SPX Nov 27th 1950/1925 put spreads for 2.75. Sold for 1.70 on Oct 23rd (part of a roll).
$SPX new call spread
#SPXcampaign Don’t normally sell call spreads on a day like this, but I still needed another for Dec 11th, and I’m still able to get one right at all-time highs. If next week is more down, it will be fine. If we rebound, the relief from put spreads will make up for any pain on this one. It is my only call spread below 2160.
Sold to open $SPX Dec 11th 2130/2155 call spreads for 1.25.
SPX trade in case the market gets ugly this afternoon
I’m trying a 1860/1870 SPX put credit spread for next week for .45 cents in case the market gets super ugly into the close. This is currently above market.
SVXY
This morning I rolled my 50 puts that expire today out to November 27, 45 strike for .96 cents. In 9 more weeks I will have the strike price down to zero. LOL
$SPX stopping Dec 11th spread
#SPXcampaign Bought to close Dec 11th 1920/1895 put spreads for 3.20. Sold for 1.25 on Wednesday.
With warning signal in effect and continuing downside, I am closing non-SPX positions as well, to keep margin clear for a possible Monday crash. I don’t really expect it, but the end of this week is looking like a minor version of August 20-24.
$VIX steadily rising, $SPX steadily…
$VIX steadily rising, $SPX steadily decreasing for last two hours. We are getting a retest of the 20.05 signal level. Take caution as risk remains high for Monday and next week. Need a very strong end-of-day rally to say otherwise.
NFLX
$NFLX breaking below 105, rapidly heading toward the 50 day moving average. Will be interested to see what happens into the close today.
SPX Stop-out
#SPXcampaign Bought to close $SPX Dec 4th 1940/1915 put spreads for 2.90. Sold for 1.25 on Nov 5th. Closing down a few put spreads today to avoid weekend risk after $VIX Warning has fired.
TICK low of the day.
Something is still roiling us intraday… epic battle.
$SPX STO $SPX 2020/2010 earlier…
$SPX
STO $SPX 2020/2010 earlier today and then was sweating it out as I acted too early before really seeing what this market was going to do today. STO at 0.80. Now have closed at 0.30. Glad to get out with a little lunch money on that one.
The SPX 2024 level held…so…
The SPX 2024 level held…so now what?
2045-2050 could be the top of the move, if this is just a retracement. It doesn’t have to get there today, but it might. Nevertheless, if it doesn’t get there today, it may do it on Monday; however, there is resistance at 2061 – 2064 which is a double Fib-Node and the retracement could turn back South there.
$VIX Futures
Front 2 months of the futures are in backwardation again. Not sure how much longer it will last but something to note for volatility sellers.
www.vixcentral.com
$NUGT and $KOLD ETFs
#ContangoETFs Managing some ITM positions in these…
BTC KOLD Nov 20th 100 call for 22.50. Sold for 4.00 on Aug 17th
STO KOLD Nov 20th 110 puts (x2) for 2.55. Will also add a Dec call for 17.50 or more on next KOLD up day.
BTC NUGT Nov 20th 30 put for 5.50. Sold for 2.50 on Oct. 12th.
STO NUGT June 45 call for 5.60
$SPX new LOD, but…
…TICKs fired huge after bottoming… $RUT near positive on day. That may have been bears’ last breath?
$SPX new LOD
$SPX new LOD
Danger Zone colors…
I’ve changed the background color and included the note in the header… “VIX danger zone entered 11/13.” Since #SPXcampaign is a key strategy followed by multiple members, I’ll alter the site appearance based on different conditions to be aware of.
It looks like the SPX…
It looks like the SPX 2024 support is trying to hold; Traders are anticipating and buying at 2027 just 3 ticks not to miss the possible up move. TICKs are still below 0 though and the ADSPD is negative still.
Second $VIX signal hit – DANGER ZONE
#SPXcampaign…. well, that sounds dramatic. But we hit 20.06, which is 25% above Wednesday’s close of 16.05. That’s the second signal which means we have entered a Danger Zone. Increasing volatility into a Friday is scary, as Monday could be a follow through. Friday the 13th, no less.
Even though we have been ticking up since the lows (and the $RUT is moving up strongly), we should be cautious for more possible downside. This could be a false warning, but those are rare in the backtesting I have done. I recommend you close put spreads if they are anywhere near your stops. If placing any new put spreads today, please make sure they are as far OTM as possible. We are now on warning until $VIX falls back below Wednesday’s close of 16.05.
$VIX warnings for Monday are 25.60 (100% from 10/28 low) and 22.96 (25% up from Thursday’s close).
$UA Short Puts
On the huge move down this morning, I’m throwing this one out there, taking a chance that the stock won’t be below the 8/24 market panic low at December expiration.
Sold $UA Dec 18 80 puts @ 1.55.
Delta is 23.
IV rank for $UA is currently in the 70th percentile.
Options have pretty good liquidity.
$SPX Not an ideal stop…
$SPX Not an ideal stop on the 2025/2000… got caught in the downdraft, and ended up paying 5.00 to get out. These same day expirations have caught me before. Very dangerous and you have to be aggressive to get out before your stop is hit.
We are pennies away from second $VIX signal at 20.05. If we do not rally back toward flat-on-day, I recommend being careful with any spreads you leave on over the weekend.
SPX, stopped out of today’s…
SPX, stopped out of today’s 2025/2000, closed short, will look to sell longs with next push down.
First $VIX signal hit
We are up 50% from the recent 12.80 low from 10/28. So we are now on notice for a second signal. With one signal fired, we should now proceed more cautiously on put spreads.
$NFLX short puts
Selling some premium to offset short call exposure. Sold $NFLX Nov 27 (weekly) 100 puts @ 1.25.
$ZSL forward split…
#ContangoETFs Now trading at 61.84, which would be 123.68 in yesterday’s dollars. All options positions have doubled in size.
SPX spread rolled
#SPXcampaign Rolling the Dec 11th spread I STOPPED out last night:
Sold to Open $SPX Dec 17th 1890/1865 put spreads for 2.00, 1.5x position size.
$SPX will gap down, but…
$SPX will gap down, but not to much… a bigger gap might be a signal of capitulation, leading to a rip higher. A small gap is less telling, so we’ll have to watch. If you have $SPX spreads hitting stops, be patient in getting your exit, or even wait to see what the morning’s direction will be.
Futures are saying we will open at 18.75, so shy of our next two signal points: 19.20 and 20.05. Watch that area, and watch @prvtrader‘s Fib levels on SPX.
$SPX Two possible areas of support…
Two possible areas of support within today’s reach are 2037-2039 and 2017-2024; below that is 2000 and 1967. The first two are agreement areas between Fib Retracements and Extensions.
Options Bistro 