STO TLT Dia Feb19 124 BTO Jan15 119 Puts for 3.75 Crd. Max risk is $125 Max profit is $375
I placed this position this morning and Jeff asked me if I could explain what I did for the benefit of everyone.
Here it goes:
This is a reverse Diagonal….
Selling the longer expiration Feb 19 2016 TLT 124 Put and Buying the shorter expiration Jan 15 2016 TLT 119 Put. The total position results in a credit of $3.75 pp. Since this is a $5.00 Horizontal Spread the max cost is 5.00 – 3.75 or $1.25 pp plus commissions.
This is what the MM does when we buy a Diagonal…he/she takes the other side of the trade. The trick is to close it in one trade, and don’t let the short expiration option expire, otherwise you’ll end up with a naked short put.
$UVXY #ShortCalls #VXXGame – sold all these for next week. Partially covered with short Puts and long stock.
Sold UVXY Dec 18 2015 75.0 Calls @ 0.25
Sold UVXY Dec 18 2015 80.0 Calls @ 0.21
Sold UVXY Dec 18 2015 85.0 Calls @ 0.18
Sold UVXY Dec 18 2015 90.0 Calls @ 0.15
Sold UVXY Dec 18 2015 95.0 Calls @ 0.15
STO SPX 100 JAN16 (1/15/2016) 1855/1830 BuPS @1.45
$UVXY #ShortCalls #ScalpTrade #VXXGame – sold these as UVXY made a potential near term double top just above 31
Sold UVXY Dec 24 2015 70.0 Calls @ 0.60
Sold UVXY Dec 18 2015 70.0 Calls @ 0.33
Sold UVXY Dec 11 2015 44.0 Calls @ 0.19 – these expire Friday
$KMI #ShortPuts – Sold KMI DEC 11 2015 15.5 Puts @ 0.20. These expire Friday
#SPXcampaign #Rolling STO $SPX Dec 31st 1900/1875 put spreads for 1.65. This is a roll from spreads stopped out last week. Despite the downside warning, I still feel we will continue consolidation into FOMC and monthly expiration next week. If I am wrong, that’s what stops are for.
#SPXcampaign BTC $SPX Dec 31st 2175/2200 call spreads for .20. Sold for 1.50 on Nov 30th.
#Earnings BTC $AZO Dec 18th 800 calls for 3.85. Sold on Monday as part of 700/800 strangle for 5.25. Order in to close puts for .20.
Bought to Close SVXY DEC 18 2015 60.0 Calls @ .60 (sold for 1.75)
#SPXcampaign At 9:20 PT, STO $SPX Jan 8th 1870/1845 put spreads for 1.25.
#VIXIndicator Third time since 11/13.
Glad I didn’t get a fill on selling an ITM put yesterday. 800 calls looking better.
Bought to close SVXY DEC 11 2015 58.0 Calls @ .20 (sold for 1.25)
STO $VLO Dec 31st 66 put for 1.00, against short stock.
$VIX just hit 19.20, which is 50% above the October 28th low of 12.80. If we hit 19.80, that will be 25% above Tuesday’s close, which will be a second signal and yet another Downside Warning.
Wow, had to step out briefly…. not only did I miss call spread fill, I missed my stop on the put spread. What a bad morning to have to step away!
Next $VIX Indicator signals are 19.20, then 19.80.
$WYNN #ShortPuts #Rolling – for safety I covered my short Dec 65 Puts @ 1.00 and replaced with several more Dec 60 Puts @ 0.45. This ratio roll actually brought in additional cash.
STO TLT Dia Feb19 124 BTO Jan15 119 Puts for 3.75 Crd. Max risk is $184 Max profit is $375
STO $AMZN 1/15/2016 610/620 BUPS@ 1.2
STO $NFLX 1/15/2016 110/120 BUPS $2.5
STO $KMI 1/15/2016 15Put @.5. Thank you Ramie
STO $UVXY 12/18 45 call @ .6 Thank you vxxkelly
STO SPXW 12/11/2015 2130.00/2105.00 call @ 1.00. Thanks Jeff
Crude oil inventories report at 10:30
$AMZN STO Jan 600/610 BuPS @ 1.15. Muffed the submission a bit and didn’t get the better fill.
STO Jan2 SPX 2160/2175 1.25 to make IC
Pulled of the 2105 spread orders, now trying for 2110/2135
STO SPX DEC2 15 (this Friday) 2000/1975 BuPS @.85 early in the morning
STO SPX JAN4 16 (1/15/2016) 1875/1850 BuPS @1.55
Not my usual kind of trade because I’m selling puts on a big up day but I think with the dividend cut out of the way the stock looks to have possibly found a bottom. I’m willing to take the chance that 15 is in the rear view mirror so I put on a speculative put sale in January.
Sold $KMI Jan 15 2016 15 puts @ .67 (average). The IV is 67 which around its 90th percentile, so premium is still rich this morning.
$DUST #ShortPuts – going back to the well again on DUST. Still trying to force NUGT higher …
Sold DUST (Weekly) Dec 11 2015 15 Puts @ 0.50. These expire Friday
#SPXcampaign Since I bollocksed up the first one by selling only the put side too early on Monday (stopped out yesterday), trying this again with much less time for things to go wrong.
STO $SPX Dec 11th 2025/2000 puts spreads for 1.50.
Selling SPX Dec 11th 2105/2130 call spreads, working on a fill for .70 or higher. If I can’t get that I will drop down to 2100/2125.
I think we will continue these volatile swings into next week’s FOMC, but this week’s wildness shouldn’t threaten these strikes. Nonetheless, stop will be set at 2.50 for each side.
$KOLD may have finally run out of gas 🙂
Big move up this morning. Dollar made a big drop overnight so rippling thru to gold. $DXY and $UUP now seem to be bouncing higher so if that continues it should temper the $NUGT move
#SPXcampaign STO $SPX Jan 8th 2160/2185 call spreads for 1.25, with SPX at 2060. This is the first of two call spreads I will sell for this expiry.
BTC SPX Dec2 2120/2135 .10 top of IC