#Earnings STO $SPLK 57.5/62.5/67.5 iron butterflys for 3.65. Risking 1.35 to make a max of 3.50 or so. See my earlier post for further explanation.
Daily Archives: Thursday, November 19, 2015
Follow up on GMCR -…
Follow up on GMCR – I was obviously wrong. However, I rolled the short Nov. 30 put to Nov. week 4 42 put for 15 cent credit. Not a super good use of margin but I hate losing money.
$KOLD…second thoughts
Sure looks like nat gas is breaking down again…futures falling below the 20ma today. My KOLD position is extremely high margin so I’m trying a trick that the tastytrade boys use sometimes involving inverted strangles. Hoping to get out of this position sooner but still with a nice profit.
Current position was Dec 105 calls/100 puts strangles worth 26.75 total premium.
I rolled the 100 puts up to 130 for another 10.25 credit. I’ve now got 105 calls/130 puts inverted strangles that have brought in 38 dollars in total premium. The goal is to have the price between the strikes at expiration just like a normal strangle. Both sides will still offset each other but since my total premium brought in is greater than the width of the strangle I’ll still book that 13 dollar difference per strangle. If it continues on up I’ll have plenty of premium to use for further adjustments…
$WSM #EarningsScalp – Sold WSM…
$WSM #EarningsScalp – Sold WSM Nov 20 2015 55.0 Puts @ 0.23
$FL #EarningScalp – Sold FL…
$FL #EarningsScalp – Sold FL NOV 20 2015 52.5 Puts @ 0.25
KOLD roll
#ContangoETFs On Friday I closed some ITM $KOLD calls to reduce margin in case of another manic Monday. I replaced those with these today:
STO KOLD Dec 18th 120 call for 17.00
STO KOLD Dec 18th 125 call for 14.60
STO KOLD Dec 18th 100 puts for 3.00
STO KOLD Feb 135 call for 18.10
STO KOLD Feb 70 puts for 2.10
$UVXY #VXXGame – Sold 1…
$UVXY #VXXGame – Sold 1 UVXY Dec 24 2015 70.0 Call @ 1.23. #TopOfTheChain Adding on.
BTC Dec 4th 70 Calls @ 0.05 this morning. Two weeks early and no commissions.
$KOLD – I’m still wearing shorts in St. Louis!
Will nat gas ever recover? Not sure but I’ll keep selling it and enjoying my heating bills. 100 puts expiring this week so selling again in Dec. These are against 105 calls that have accumulated 21.00 in premium. Would really like these puts to get in trouble…
Sold KOLD DEC 18 2015 100.0 Puts @ 3.52
$DUST roll and re-load
I’ve got decent premium built up in the put side of this so staying a little more aggressive here with 20 and 23 short calls expiring this week.
Rolled Nov 23 strike puts to Dec 22’s @ .50 credit (3.86 total now)
Sold DUST DEC 18 2015 22.0 Calls @ 1.65
Position is now short 22 straddles in Dec worth 5.51. Strange trade but turning out pretty nice after getting caught in that big down move in early October.
There is a green small…
There is a green small window in the lower right side corner saying following with a check mark on it, can you please let me know what it means? is it someone following me from this group? and how do I know who is following me?
$NUGT – Trash yesterday, Treasure today
Closed a bunch yesterday and one more today…and re-loading. It really is the gift that keeps on giving. LOL
Bought to Close NUGT JAN 15 2016 60.0 Calls @ .85 (sold for 7.45)
Sold NUGT JAN 15 2016 45.0 Calls @ 1.85
Sold NUGT JAN 15 2016 50.0 Calls @ 1.35
WSM earnings strangle
#Earnings STO $WSM Nov 20th 57.5/75 strangles for 1.05. Over last 12 earnings, Biggest UP move: 10.3% , Biggest DOWN move: -12.0% , Average move: 6.0% . These strikes are 12.9% and 13.6% OTM respectively.
$NUGT #ShortCalls – Sold NUGT…
$NUGT #ShortCalls – Sold NUGT JAN 15 2016 50.0 Calls @ 1.30
SPLK iron butterfly
#Earnings Looking at $SPLK, I see the moves on earnings have been under 5% for the last four reports. Before that, it is higher, so I don’t want to sell naked on it. Instead, I’ll take a low risk bet that it will make another small move. An ATM iron butterfly, 5 points wide, is risking 1.5 to make 3.5. I will wait until end of day to put on the trade, in case I need to move to a different strike, but for now the plan is : Sell 1-62.5 put, buy 1-57.5 put / Sell 1-62.5 call, buy 1-67.5 call. Here are the last 12 reports, 1-day moves:
Aug. 27, 2015 AC -2.27%
May 28, 2015 AC -4.85%
Feb. 26, 2015 AC -3.33%
Nov. 20, 2014 AC 3.06%
Aug. 28, 2014 AC 19.07%
May 29, 2014 AC -16.34%
Feb. 27, 2014 AC -2.87%
Nov. 21, 2013 AC 22.80%
Aug. 29, 2013 AC 12.85%
May 30, 2013 AC 3.40%
Feb. 28, 2013 AC 7.86%
Nov. 29, 2012 AC 0.73%
SPX
BTC SPX Nov4 2105/2110 2.50 sold for 1.00 still have put side
SQUARE
#LongStock #IPO Bought shares of $SQ for 11.85. Never traded on an IPO day, but just seeing of this will take a bull run. Out by end of day.
FL earnings trade
#Earnings STO $FL Nov 20th 55 puts for .60. Over last 12 earnings, Biggest UP move: 8.8% , Biggest DOWN move: -7.1% , Average move: 4.2% . This trade is 10.0% OTM.
$UVXY #VXXGame – Sold 1…
$UVXY #VXXGame – Sold 1 UVXY Dec 24 2015 70.0 Call @ 1.13. Initial position. #TopOfTheChain
NUGT calls
Sold $NUGT Jan 15 50 calls @ 1.15
BBY earnings trade
#Earnings BTC $BBY Nov 20th 27 puts for .06. Sold yesterday for .32 avg price.
SPX put spread
#SPXcampaign STO $SPX Dec 17th 1925/1900 put spreads for 1.30. Thursday is a bit late to sell the first put spread, but that’s what you get with a rip-roaring bullish week.
Wed’s Chart….sorry I couldn’t post…
Wed’s Chart….sorry I couldn’t post it last night.
Good morning….
Futures were up, but now negative, so perhaps we’ve reached a consolidation area… but be leery of strong moves in either direction as action has been bullish, but a downside warning is still in effect from Friday. (In my backtesting, the correction low of $SPX can be anywhere between 1 day and 1 month after the first warning). I will look to sell Dec 17th put spreads near the open. Meanwhile, we can search for earnings trades in $ADSK, $FL, $GPS, $INTU, $ROST, $SPLK, $WDAY, $WSM. Trade smart!
Options Bistro 