Looks like the snow is picking up here at “The Bistro”. Should I call for de-icing?
Monthly Archives: December 2015
$VRX #ShortPuts – another stock…
$VRX #ShortPuts – another stock #CNBC said could go to zero
10/21/15 – Sold 1 VRX Jan 15 2016 55.0 Put @ 5.30. Two hours later Sold another @ 9.20.
Today – Bought 2 VRX Jan 15 2016 55.0 Puts @ 0.05. Still almost a month until expiration.
VXX long put
#VXXGame Sold to close $VXX March 25 put for 7.50. Bought for 5.00 on Sept 2nd. This was a GTC order to collect 50% on the trade, filled today.
$UVXY #ShortPuts #VXXGame – these…
$UVXY #ShortPuts #VXXGame – these are paired with short calls and a lot of long SVXY stock (if UVXY falls, SVXY rises)
Sold UVXY(Weekly) Dec 24 2015 24.5 Puts @ 0.13 – these expire at 1:00pm tomorrow
Sold UVXY(Weekly) Jan 8 2016 20.0 Puts @ 0.41
Sold UVXY Jan 15 2016 20.0 Puts @ 0.85
Sold 1 UVXY(Weekly) Jan 22 2016 20.0 Put @ 1.22
Sold 1 UVXY(Weekly) Jan 29 2016 20.0 Put @ 1.63
$SVXY #CoveredCalls #VXXGame – SVXY…
$SVXY #CoveredCalls #VXXGame – SVXY is climbing toward resistance at 54, so I’m trying to top tick some covered calls
Sold SVXY Feb 19 2016 65.0 Calls @ 1.45
Sold SVXY Feb 19 2016 70.0 Calls @ 0.60
Sold SVXY Mar 18 2016 70.0 Calls @ 1.40
Sold SVXY Jun 17 2016 80.0 Calls @ 1.95
Sold SVXY Jun 17 2016 85.0 Calls @ 1.30
SPX rolled calls
#SPXcampaign #Rolling STO $SPX Dec 31st 2085/2110 call spreads for 3.90. This is the second half of the roll from this morning’s stopped spread, totaling a .80 credit for the roll. I will roll again should SPX get much above 2075. Mainly, I want to avoid going ITM, since that makes rolling much more difficult.
NKE Earnings
#Earnings BTC $NKE Dec 24th 123 puts for .04. Sold for 1.00 yesterday.
KOLD snap?
#ContangoETFs STO $KOLD Jan 140 put for 3.10. Have several puts, but will #ReverseRoll them into calls if any of them become ATM.
/ES #Eminis
Sold a 2020 call earlier this week for 11.50. Could’ve rolled it but instead I’m going to take the short position (if /ES stays above 2020 tomorrow). Now, turned around and sold a Jan 8 2020 put against the short position. Received 13.50 for the put sale added to the 11.50 call sale earlier, total premium is now 25.00. Short position is only slightly underwater but giving me a nice hedge for my long SVXY. A pullback below 2020 will cover the short position and bank 25 points of gains…
If we continue up I’ll continue selling weekly puts to raise my cost basis in the short position.
NUGT calls
Sold $NUGT Feb 19 36 call @ 2.20. Highest strike and my first position in Feb.
UVXY spreads
#VXXGame Sold to Open $UVXY Jan 8th 22/20 put spreads for .55, in my 401K and smaller accounts.
SPX call spread closed
#SPXcampaign BTC $SPX Dec 24th 2060/2085 call spreads for 4.20. Will roll into various put and call spreads.
I’m closing and rolling this…
I’m closing and rolling this week’s $SPX 2060/2085 call spread
$UVXY #ShortPuts #VXXGame – Sold…
$UVXY #ShortPuts #VXXGame – Sold UVXY Feb 19 2016 13.0 Puts @ 0.38. Late fill at 4:15 and my first trade in Feb for this stock.
Sorry, was out a lot…
Sorry, was out a lot today but STO IBF NKE for tomorrow Earnings play 136/130/124 4.61
UVXY puts
#VXXGame After-hours fills:
STO $UVXY Jan 8th 22 puts for .92
STO $UVXY Jan 15th 20 puts for .80
$SVXY
As Dan noted today $WFM…
As Dan noted today $WFM is breaking out today. I have several longer term #FallingKnife trades in this stock on the books
$NFLX – it’s not a…
$NFLX – it’s not a sign of strength when NFLX is down a fraction when the DJIA is up 180 points
$UVXY #ShortPuts – hoping that…
$UVXY #ShortPuts – hoping that the drop in UVXY translates into a rally for SVXY –
Sold 1 UVXY(Weekly) Jan 22 2016 20.0 Put @ 1.13
Sold 1 UVXY(Weekly) Jan 29 2016 20.0 Puts @ 1.55
$UVXY #ShortPuts – hoping that…
$UVXY #ShortPuts – hoping that the drop in UVXY translates into a rally for SVXY –
Sold UVXY(Weekly) Jan 08 2016 20.0 Puts @ 0.35
Sold UVXY(Monthly) Jan 15 2016 20.0 Puts @ 0.73
SPX same week condor
#SPXcampaign STO $SPX Dec 24th 2060/2085 call spreads for 1.20. Combined with puts sold earlier make an iron condor. Stop is 3.00 if one of the sides hits it, meaning lax loss on full trade is .05.
$SVXY #CoveredCalls #IRA – Sold…
$SVXY #CoveredCalls #IRA – Sold SVXY Feb 19 2016 65.0 Calls @ 1.25
SVXY calls
Taking these off the table since they’re not technically covered…they’re just a short put offset.
Bought to Close SVXY JAN 15 2016 60.0 Calls @ .70 (sold for 1.35)
$SVXY Covered Call
Sold $SVXY Feb 19 63 call @ 1.55
$CMG #ShortPuts #Weeklys #ScalpTrade -…
$CMG #ShortPuts #Weeklys #ScalpTrade – Sold CMG Dec 24 2015 420.0 Puts @ 0.30 when the stock gapped down to 500 this morning.
These expire at 1:00pm on Thursday.
$SVXY #CoveredCalls – Sold 10…
$SVXY #CoveredCalls – Sold SVXY Jun 17 2016 80.0 Calls @ 1.80. Adding to my position.
$GMCR #ShortPuts – Bought to…
$GMCR #ShortPuts – Bought to close GMCR Jun 17 2016 30.0 Puts @ 0.01. Out 6 months early.
Sold on 11/30/2015 @ 1.30
NKE earnings
#Earnings STO $NKE Dec 24th 123 puts for 1.00. Biggest UP move: 12.2% , Biggest DOWN move: -5.1% , Average move: 5.2% . This trade is 5.4% OTM.
$SVXY #CoveredCalls
Spent some time thinking last night about how $SVXY is trading and the potential for additional volatility over the next month or two. I have been selling short term calls (about 2 – 3 weeks out) at a level that would provide me a profit and would be OK having the stock called away. This is really a Theta play. The benefit was that if we got some short term good news/performance, I could get some shares called away or when the calls expired replace them with higher premium calls. The downside is that the current premium is fairly low and if $SVXY pulls back further, I would be in a tough spot because my premium didn’t provide much protection and it might not pay to sell the next set of calls for a period of time. I’m fearful that $SVXY gets close to $40 before it gets close to $60. So I’m changing my tactic for the time being. I’m now selling March and June calls with better premium and higher Delta than the short term calls I have been selling. This gives me more protection in a pullback and if I’m wrong and the market runs up, gets me out of the stock at nice profits.
STO Mar $60 calls @ $3.50
STO Jun $55 calls @ $8.10
STO Jun $60 calls @ $6.10
CMG IB attempt
#IronButterfly I am trying for an iron butterfly on CMG, selling this week’s 500 call and 500 put, and buying the 490 put and 510 call for protection. I want 9.00 for it, leaving me a max risk of 1.00. It’s not trading there yet, but may fill later as the OTM options reduce in price.
$CMG #ShortPuts – Sold 1…
$CMG #ShortPuts – Sold CMG Dec 31 2015 400.0 Puts @ 1.00. Short week this week and next PLUS 100 points OTM
SPX same week put spread
#SPXcampaign STO $SPX 1990/1965 put spreads for 1.75. These expire in 2 days. Will try call spread if we get more strength today.
Generally avoiding put spreads under current VIX Indicator warnings, but I’m not too worried about a big move this week.
$SVXY #CoveredCalls #VXXGame – Sold…
$SVXY #CoveredCalls #VXXGame – Sold SVXY Jun 17 2016 80.0 Calls @ 1.70 adding to my position
Revenge is a dish best served KOLD
#ContangoETFs Nat Gas chart finally looking constructive with possible bottom in place. Dumping my only ITM put with a #ReverseRoll to higher calls. As long as we get some stabilization in gas prices, KOLD will dump.
BTC $KOLD Jan 210 put for 30.00. Sold for 21.90 on 12/15.
STO $KOLD Feb 270 calls (2) for 16.50
#MarketHours #OptionsExpiration – the market…
#MarketHours #OptionsExpiration – the market closes at 1:00 on Thursday. So only 2 1/2 days until the next expiration.
Sell. Sell. Sell!!!!
NFLX earnings date announced
It will officially be Jan 19 after the close. In a move outside of recent character, $NFLX will be reporting after the monthly options expiration date, not before. While the market seems to have anticipated this for the most part (greatest IV jump in the 1/22 options), IVs were still a bit elevated in the 1/15 vs the 1/8 expirations as the company has jumped the announcement date earlier than expected the last few quarters. I’d expect to see option prices come in a little bit tomorrow for the January monthlies as ATM IVs come down from the 47 area back to 41-42 or so. Not dramatic, but with this IV contraction I’ll be watching for early opportunities to take off some far OTM short call positions for January.
Christmas
Loving the snow, Jeff. Nice touch. Makes me want to burst into Christmas song. Be thankful you only have to read my words, not hear them 🙂
$SVXY #CoveredCalls #VXXGame – Sold…
$SVXY #CoveredCalls #VXXGame – Sold SVXY Jun 17 2016 80.0 Calls @ 1.60 adding to my position
CMG: Going back to the well
Premium selling that is, not one of their burritos. Sold a 2 standard deviation put in January. Delta of 07.
STO CMG Jan 15 2016 425 put @ 2.50
$DUST
STO Mar $35 calls @ $1.25
$SVXY #CoveredCalls #IRA
BTC Dec 24 $56 calls @ $.02
STO Jan 8 $55 calls @ $.95
$KOLD – this is one…
$KOLD – this is one of those instances where I should have just let them exercise the short 200 calls I had. About now I’d be getting a call from the margin department telling me that there is no stock to borrow and I would have to cover the short. Sigh!!
#Market
I was happy to see the market rebound after selling off the entire morning rally and hitting the flat line. Lately it would have just kept going south for the rest of the day. Nice to see at least a few buyers step in.
Two big down days on Thursday and Friday yet $UVXY only got up to $34, so wasn’t really panic selling, just selling.
$UVXY #ShortPuts #ScalpTrade – Sold…
$UVXY #ShortPuts #ScalpTrade – Sold UVXY Dec 24 2015 24.5 Puts @ 0.11. These expire Thursday.
In this account, paired with short Dec 24 70 calls, which interestingly are not at zero bid.
$SVXY #CoveredCalls #VXXGame – Sold…
$SVXY #CoveredCalls #VXXGame – Sold SVXY Jun 17 2016 80.0 Calls @ 1.55. Partial fill on a bigger order.
$UVXY $DUST
Have only made a couple of small trades this morning.
STO $UVXY Dec 31 $24 puts @ $0.50
STO $DUST Feb $36 calls @ $0.60
STO $DUST Jun $35 call @ $2.60
UVXY puts
#ShortPuts – It’s worked the last couple weeks…margin free against short calls.
Sold UVXY DEC 31 2015 27.0 Puts @ 1.27
SPX call spread
#SPXcampaign STO $SPX Jan 22nd 2130/2155 call spreads for 1.30. Keeping up with a full campaign on the call side while remaining careful on the put side, due to multiple VIX warnings. Currently I’m holding no put spreads, and other than this new one only a few call spreads, all well into profit. I expect this week to be calmer, but fireworks could start erupting next week or week after. But it’s too tough to call; as Art Cashin said, this is the toughest market he’s seen in 50 years, which is a few more years than I’ve been at this. Also one more year than I’ve been alive.
Baby It’s KOLD Outside
As mentioned by Fuzzballl last night, nat gas futures up over 5% and KOLD down almost 20.
/ES Eminis
#ShortCalls – SOLD DEC 15 (Wk4) 2020 CALL @ 11.50
This would get me short at 2031.50 or I could roll it. Needing a little more downside protection.
SVXY calls
#ShortCalls – It’s worked the last couple weeks…margin free against short puts.
Sold SVXY DEC 24 2015 51.0 Calls @ .95
UVXY puts
#ShortPuts – It’s worked the last couple weeks…margin free against short calls.
Sold UVXY DEC 24 2015 28.0 Puts @ .90
Shekereli (Biotech boy) is arrested
Shekereli (Biotech boy) is arrested
$UVXY
Feb options start today, but looks like highest strike is only $60, for now.
$DUST $DXY
Dollar seems to be stable to weak which should help support gold prices and hence likely provide some sort of support for the miners. I’m going to be looking for opportunities to sell $DUST calls today.
/NG Nat gas futures
Up 8 cents at the open…if that holds we might see KOLD down 20 in the morning.
Expirations
JBLU 12/18/2015 27C (covered)
JD 12/18/2015 30C (covered)
RLYP 12/18/2015 20C (covered)
RLYP 12/18/2015 20C (covered)
UVXY 12/18/2015 70C
UVXY 12/18/2015 45C
RLYP 12/18/2014 20P
FLDM 12/18/2015 10P
JD 12/18/2015 29P
KOLD 12/18/2015 125P
SVXY 12/18/2015 40P
UVXY 12/18/2015 20P
/VX VIX futures
Bringing this to the top from my reply below…just thinking out loud tonight.
—————————————————————————-
Funny you should mention VIX futures…I think I’m going to quit shorting UVXY naked calls and concentrate on the futures. I believe a person could short a few contracts each time it spikes above 25 and do pretty good much more safely without the constant UVXY spike worry.
A VIX future trades at a value of 50 dollars per tick with each tick being .05 This makes them worth 1000 dollars per point. Instead of sitting year round with big short UVXY exposure just wait until the 2 or 3 times a year we get a spike in the VIX futures 20-25 range and short a few. Imagine shorting 5 of those in late August and catching about 10 points of the move. Seems a lot safer without the constant black swan risk.
Of course your account would have to be able to withstand the daily mark to market of the futures if you short to early plus margin of about 6000 per contract.
I have to learn to…
I have to learn to stop buying and concentrate on selling.
Expiration/Close Outs
BTC $TWTR 12/18 $28P at $3.4 sold at $1.3
BTC $NFLX 12/18 118P at .1 sold at $1.4
STC $FB 12/18 BUCS 100/110 at $6.5 bought at $4.3
BTC $ISIS 12/18 BUCS 70/90 at $1 bought at $6.7
BTC $TSO 12/8 BUPS 105/110 at $4.39 sold at $.75
Trades
STO $UVXY 12/24 $27P at .8
STO $ISIS 12/31 $58P at 2.35
STO $NFLX 1/15/2016 100/110 BUPS at $2
STO $SCTY 1/15/2016 65C/35P strangle at $2.05
STO $SVXY 12/24 $40P at $.45
STO $UVXY 12/24 $23.5P at $.16
STO $KOLD 1/15/2016 $255C at $13.6 thanks iceman
STO $AMZN 1/15/2016 590/600 BUPS at $.9
STO $SVXY 12/24 $50C at $3.3 (covered)
STO $CEMP 1/15/2016 $35 at $.8 (covered)
See you Monday…
Friday’s move lower indicates volatility is ruling the month… but will it continue in the typically lower volume weeks remaining? Will the underperforming hedge fund and mutual fund managers be scrambling to make up for bad 2015 performance?
Options Expiration for 12/18
Expiring:
$AAPL 12/18/2015 100 puts
$AAPL 12/18/2015 105 puts
$AMZN 12/18/2015 615 puts
$APA 12/18/2015 60 calls (covered)
$BOIL 12/18/2015 30 calls (covered)
$CMG 12/18/2015 475 puts
$CRI 12/18/2015 85 puts
$CRI 12/18/2015 87.50 puts
$CYBR 12/18/2015 35 puts
$DUST 12/18/2015 25 calls (covered)
$DUST 12/18/2015 30 calls
$DUST 12/18/2015 35 calls
$GMCR 12/18/2015 60 puts
$KOLD 12/18/2015 185 puts
$KORS 12/18/2015 45 calls (covered)
$NSC 12/18/2015 75 puts
$NUGT 12/18/2015 35 calls
$SVXY 12/18/2015 75 calls (covered)
$SVXY 12/18/2015 70 calls (covered)
$SVXY 12/18/2015 45 puts
$SVXY 12/18/2015 40 puts
$TRIP 12/18/2015 60 puts
$URI 12/18/2015 65 puts
$UVXY 12/18/2015 70 calls
$UVXY 12/18/2015 80 calls
$UVXY 12/18/2015 95 calls
$VRX 12/18/2015 85 puts
$VXX 12/18/2015 44 calls
$WHR 12/18/2015 130 puts
$ZSL 12/18/2015 65 calls
$ZSL 12/18/2015 67.50 calls
$ZSL 12/18/2015 70 calls
$ZSL 12/18/2015 77.50 calls
Assignments (stock being called away):
$GMCR 12/18/2015 55 calls
Assignments (going long stock):
$KMI 12/18/2015 35 puts
Have a great weekend everyone.
UVXY after hours
#VXXGame filled at 4:12 ET
STO $UVXY Dec 24th 50 calls for .67
STO $UVXY Jan 15th 150 calls for .85
Options Expiration 12/18/15
Expiring with 100% profit:
$SPX 2145/2170 call spreads
$AZO 700 puts
$BOIL 25, 30, 65 calls
$DUST 30 call
$FDS 155 puts
$KOLD 170, 185, 195, 200 puts
$UVXY 20 puts
$VLO 72 call
$VLO 67.5 put (covered)
$ZSL 65 and 67.5 calls
No assignments.
Oh, what do we have in store for the coming weeks?
Calm dump?
As much as $SPX was dumping at the end, the $VIX was pretty calm.
#OptionsExpiration
Today’s expirations, don’t have many left, took profits on most positions earlier in the week. Will be away from the computer for the rest of the day. Have a great weekend everyone.
$BOIL $30 calls
$KOLD $100 puts
$KOLD $110 puts
$UVXY $25 puts
TLT long
#LongOptions BTO $TLT Jan 15th 123 calls for 1.69
BTO $TLT Feb 123 calls for 2.50
Small positions, but long calls in TLT paid me well in past corrections.
UVXY puts
Just gotta take the gains on this in such a short time since it was a decent size position.
Bought to Close UVXY DEC 24 2015 27.0 Puts @ .43 (sold for .82 this morning)
SPX closed
#SPXcampaign BTC $SPX Jan 14th 1875/1850 put spreads for 2.15. Sold yesterday for 1.25. I am not carrying any bullish index positions through the weekend.
Hedge
BTO $VIX Jan 19th 19 calls for 3.00
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY DEC 24 2015 41.0 Puts @ 0.46 on a market order. These expire in 4 days with the strike price below the recent low
$SVXY #ShortPuts – Bought to…
$SVXY #ShortPuts – Bought to close SVXY Dec 18 2015 50.0 Puts @ 1.85 to avoid assignment.
Originally sold in April at 3.90.
$SVXY #ShortPuts – Bought to…
$SVXY #ShortPuts – Bought to close 1 SVXY Dec 18 2015 50.0 Put @ 1.95 to avoid assignment. Originally sold in July at 3.70.
$DUST
STO Jan 15 $25 calls @ $.70
Had to dip my toe.
$IYT #ShortPuts – Bought to…
$IYT #ShortPuts – Bought to close IYT DEC 18 2015 135.0 Puts @ 1.95 to avoid assignment. Originally sold at 3.18
Options Bistro 