SPX IC 1960/1965 1840/1835 expired worthless
All at full profit
$AAPL 92 Put
$AAPL 107 Call (Covered)
$SVXY 35.5 Put
$EA 63 Put (Earnings Play)
$FB 84/$90 BUPS
$SPXW 1985/1960 BECS
$SPXW 1805/1830 BUPS
Bought Back for .05
$SPXW 2/5 2050/2025 BECS
Taking smaller positions. Feeling a little better. Thanks to everyone here.
Anyone play these on a consistent basis? Would shorting calls in each be viable as a way to take advantage of any drag or compounding issues each hold.
I use spy to beta weight my portfolio and would probably short more tna calls vs tza calls for more overall negative deltas as the market moves up on this countertend rally towards major fib lines.
Thoughts? Suggestions? Please let me know your experiences with these ETFs.
Thanks as always!
#OptionsExpiration for Jan 29
All of the following expired. No assignments this week.
$AMZN 01/29/2016 505 puts
$AMZN 01/29/2016 710 calls (covered)
$AMZN 01/29/2016 725 calls (covered)
$CMG 01/29/2016 400 puts
$DUST 01/29/2016 20 calls (covered)
$NUGT 01/29/2016 40 calls
$SPX 01/29/2016 1955/1980 call spreads
$TZA 01/29/2016 75 calls
Have a great weekend everyone.
$UVXY $60 calls
$UVXY $80 calls
$UVXY $81 calls
$UVXY $82 calls
$UVXY $85 calls
Had a very large number of contracts expire today, so as @Iceman mentioned, as these weekly’s expire my account just gets more an more prep’d to be aggressive on the next volatility spike. This market doesn’t seem to make us wait long for the next one.
$SVXY continues to suck the tail pipe, but $UVXY is kicking it. Bunch more expiring next week.
Also got to profitably exit some stock ($APA and $WYNN) recently acquired via Put assignment. I’d rather be long more cash and less stock during this bear market.
— Expirations —
AAPL (Weekly) Jan 29 2016 89 Puts
AMZN (Weekly) Jan 29 2016 500 Puts
AMZN (Weekly) Jan 29 2016 505 Puts
AMZN (Weekly) Jan 29 2016 710 Calls
AMZN (Weekly) Jan 29 2016 720 Calls
AMZN (Weekly) Jan 29 2016 725 Calls
CMG (Weekly) Jan 29 2016 390 Puts
CMG (Weekly) Jan 29 2016 395 Puts (Covered)
CMG (Weekly) Jan 29 2016 400 Puts (Covered)
FB (Weekly) Jan 29 2016 84 Puts
NUGT (Weekly) Jan 29 2016 28.5 Calls (Covered)
NUGT (Weekly) Jan 29 2016 40 Calls (Covered)
URI (Weekly) Jan 29 2016 60 Calls (Covered)
UVXY (Weekly) Jan 29 2016 20 Puts
UVXY (Weekly) Jan 29 2016 23 Puts
UVXY (Weekly) Jan 29 2016 31 Puts
UVXY (Weekly) Jan 29 2016 80 Calls
UVXY (Weekly) Jan 29 2016 85 Calls
UVXY (Weekly) Jan 29 2016 95 Calls
UVXY (Weekly) Jan 29 2016 95.5 Calls
WMB (Weekly) Jan 29 2016 20.5 Calls (Covered)
WYNN (Weekly) Jan 29 2016 70 Calls
WYNN (Weekly) Jan 29 2016 72 Calls
— Assignments —
APA (Weekly) Jan 29 2016 39.5 Calls (Covered) Profitable exit
APA (Weekly) Jan 29 2016 40.5 Calls (Covered) Profitable exit
FCX (Weekly) Jan 29 2016 6.5 Puts – Going long some stock
WYNN (Weekly) Jan 29 2016 65 Calls (Covered) Profitable exit
Expiring with max profit:
$AMZN 515/710 strangles
$DUST 20 calls
$NUGT 35 calls
$FB 89/84 put spreads
$SPX 1955/1980 call spreads
$UVXY 60 calls
$VLO 64 puts
$VLO 74 call
$FB 102 calls, going short stock, cost basis 105 (did not play that one very well)
$VLO 67 puts, part of short stock position being covered
Have a great weekend everyone… I’ll be trading from Los Angeles next week!
$SPX Closed SPX Feb 12th 1625/1585 BuPS @ 0.10 Opened @ 1.25.
$SVXY $UVXY – the volatility trader’s golden cross is when the price of UVXY drops below the price of SVXY. As long as that relationship holds, the #VXXGame should be profitable.
I’m content to sit with my existing UVXY short Calls to expiration or a closing price of a penny. As the weeklys roll off, week by week, the buying power in my accounts increases. and leaves me set up to begin selling aggressively on the next volatility explosion.
$DUST #ShortCalls – Bought to close 1 DUST Mar 18 2016 55.0 Call @ 0.05. Originally sold 11/18/2015 at 2.20.
$GILD Our old friend GILD down in the lower 80s, must think it’s an energy company, #earnings next week
Bought to close Jan 29 $SVXY 40 put @ 1.50 to avoid assignment today with the stock at 38.60. Sold for 5.70 on 1/15. This was a rollout from the 1/15 40 put I executed 2 weeks ago. Combined profit of 1.20 on both positions.
#Earnings Bought to Close $AAPL Jan 29th 100/95 put spread for 4.10. Sold as part of iron butterfly on Tuesday for 3.85, plus calls closed for .13 on Wednesday, so loss was only .38 + commission. Decent recovery saved us .75 today!
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Use a separate browser window and enter optionsbistro.wordpress.com/wp-admin. On the left you have multiple options for managing your posts, including “Posts/Add New.” Here you can add new Posts as you do on the normal site, but you also have access to many additional features, such as selecting Categories for your post, and also scheduling your post to appear at a later time (see “Publish immediately Edit” on the right).
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The 1915-20 level seems to have held…but, the SPX may go back up to retest that level.
$NOW STO Feb 19 60/50 BuPS for .92 pretty close to what I received for the earnings spread following Jeff. NOW dropped below 60 for a few hours and is up aroung 65 at this time.
$KOLD #ShortPuts – Sold 1 KOLD Feb 19 2016 115 Put @ 2.15. Paired with an existing short 215 Call for February, completing the strangle. Both expire in 3 weeks.
#ContangoETFs BTC $KOLD Feb 270 calls for .50. Sold for 16.50 on Dec 22nd
STO KOLD May 85 puts for 2.20
STO KOLD aug 70 put for 2.00
There is strong Resistance at 1915-20 Level….
Then is 1950 and 1978-80
#SPXcampaign Sold to Open $SPX Feb 26th 2025/2050 call spreads for 1.25
#SPXcampaign Bought to close $SPX Feb 5th 1750/1725 put spreads for .20. Sold on Monday for 1.50.
Sold $AMZN Feb 19 485 put @ 1.50
I plan to do a webinar on the placement, management, and closing of iron butterflys… look for it later this quarter.
For those of you who followed on the AAPL butterfly this week, the trade didn’t work out. However, the good thing about these trades is the risk/reward, so losses are minimal. You brought in a 3.85 credit when you sold the butterfly, so whatever you pay today to close will count against that.
First, realize that you sold two credit spreads: a 100/105 call spread, and a 100/95 put spread. Assuming we stay below 100, the call spread will expire worthless and requires no action (regardless of whether you closed the short calls on Wednesday). The put spread MAY require action.
If AAPL closes the day at or above 95.00, you WILL be assigned stock at 100.00 if you do not act. This is because the long 95 puts will expire worthless, but your short 100 puts will expire in-the-money. To avoid this assignment, buy-to-close the 100 calls. You can try to get the cheapest price to close by waiting later in the day and/or for AAPL to move higher intraday.
If AAPL closes below 95.00, your whole put spread will expire ITM. You can do nothing if you wish, and your broker will execute the options and you will be debited $500 per spread (buy the stock at 100, then sell it at 95). My broker charges nothing for this execution, so I often let these expire. But if your broker charges for it, you may want to close manually during the day, as commission charges are probably cheaper. Put in the order to close the spread for 5.00. You might be able to get a lucky fill for 4.90 or something.
The goal today is to try to get out for less than 5.00. You can do this with a lucky fill on the spread, or legging out based on the intraday swings. If it’s a bullish day, waiting until right before the close might be beneficial as all extrinsic value will drain out, and hopefully the stock will be near high of the day.
Feel free to ask further, I am here until about 10:30 PT, 1:30 ET.
Today my wife and I start the drive to Los Angeles to prepare our North Hollywood house for sale.
The last two times we drove to LA were October 2014, and late Jan/early Feb 2014. For those with fuzzy memories, a quick look at the charts shows what happened to the markets. I know there are so many traders who claim their travels cause the markets to dive…. I won’t claim that, but felt obliged to warn you.
I will still be trading next week and managing Bistro, although may not be as quick to respond.
Somebody must know something. Stock up 9% today, before earnings, on volume. Should have just bought some calls this morning.
$CALM STO Feb 52.5 call against long stock. Small position. Will take assignment or repeat/roll to March. Earnings after March OpEx.
$QQQ #ironcondor STO Feb 19 95/92/107/110 for .70
#Earnings I have now sold all of my $FB long 107 calls, leaving me short the 102 calls. If I am assigned short stock tomorrow, cost basis will be 105.00.
#SPXcampaign I wanted to let this expire, but I was messing around with an order earlier today and forgot to take it off. So..
Bought to close $SPX Jan 29th 1830/1805 put spreads for .40. Sold yesterday for 1.30.
Sold at 24.00 on the little spike to 24.05 about an hour after the open. Bought it back in at 23.15 just now. LOL Better lucky than good since I just set the order early this morning and went to work. Great week for these little swings! Another .85 in the bank.
$NOW #earnings We might be OK NOW
$ETE STO 2/5/16 10.0 CALLS @.35 Somewhat speculative.
$HP #CoveredCalls – Sold HP FEB 19 2016 55.0 Calls @ 0.63
#Earnings Sold to Open $AMZN Jan 29th 710 calls for 1.20. Waiting for some pullback to sell 515 puts.
#Earnings Sold $FB Jan 29th 107 calls for 2.00 (from the condor). Half the position, giving me cost basis of 105.20 on short stock if assigned tomorrow.
#Earnings BTC $BABA Jan 29th 76 calls and 64 puts for .05 each. Condor sold yesterday for .88.
#Earnings Bought to close $CTXS Feb 19th 55 puts for .05. Sold yesterday for .55
#Earnings, here are the stocks to consider today…
I consider these the “rock stars,” symbols that have worked before and typically have juicy OTM options:
Also to look at, these have weeklys and high volume, but premium may be lower:
AAL, ABBV, AMGN, CVX, MA, MSFT, PSX, SWKS, WDC
#Earnings – FB condor call side is fully breached due to a stellar report and a huge overnight pop. I plan to sell half of my long calls at the open, giving me a short stock cost basis above 104.00. I will wait and see with the other half.
BABA and CTXS look good. NOW (for the first time) looks troublesome… need to give it time for a bounce. VLO looks flat.
Another little scalp for fun…sold at 24 this afternoon and bought back at 23.50 just now. I’ll take me a little 50 tick winner before calling it a night. Up at 3am central tomorrow!
Following plan to close at 80% profit
BTC DUST Feb. 19 34 call @.10
BTC DUST Mar. 40 Call @ .24
both around 80% profit
Miners on a tear lately.
$UVXY #ShortCalls – Staying at the top of the chain –
Sold UVXY FEB 19 2016 110.0 Calls @ 0.77
Sold 1 UVXY Feb 26 2016 110.0 Call @ 1.13
Sold 1 UVXY Mar 04 2016 95.0 Call @ 2.49
STO $TZA Feb 19 70/75 call spread for 0.90.
Completing IC for this Friday. STO 1940/1950 for 0.40. Already had 1775/1765 put spread. A little late on this, but looks like it will work.
STO SPX JAN5 16 (expiring this Friday) 1815/1790 BuPS @1.10
#SPXcampaign Sold to Open $SPX Jan 29th 1830/1805 put spreads for 1.30. Expire this Friday. Paired with 1955/1980 call spreads sold yesterday.
#Earnings Sold to Open $CTXS Feb 19th 55 puts for .55. Partial fill on this order during post-Fed volatility. 21-day moves after last 12 earnings: Biggest UP move: 12.5%, Biggest DOWN move: -3.7%, Average move: 6.4%. This trade is 17.4% OTM.
Made 1 more trade on the gold spike after the Fed release.
STO Feb 19 $35 calls @ $0.75
Initial reaction: Bonds UP, Gold/silver UP. Indices moving down.
#Earnings … a bit more speculative than my other trades. I am already short some stock from last earnings, but the chart looks more bullish to me. Selling some fairly close puts; if stock drops it will close short stock and put me long the stock.
STO $VLO Jan 29th 64 puts for .60.
This is a very minor mover on earnings: Biggest UP move: 2.4% , Biggest DOWN move: -2.7% , Average move: 1.3% . This trade is 3.9% OTM.
$AAPL listening to Ramie STO Feb. 12 BuPS 93/89 for 1.03. Mucu closer to the current price than is my normal spread
Testing 1,2,3, Thank you jeffcp
#SPXcampaign BTC $SPX Feb 18th 1625/1600 put spreads for .25. Originally sold for 1.25.
#Earnings Sold to Open $FB Jan 29th 102/107 call spreads for .70. Completes iron condor started earlier.
Added a couple of $NUGT positions this morning.
STO Feb 12 $35 calls @ .45
STO Mar 4 $35 calls @ $1.35
#Earnings Sold to Open $NOW Feb 19th 60 puts for 1.00. One-day moves after last 12 earnings: Biggest UP move: 15.3%, Biggest DOWN move: -11.5%, Average move: 9.0%.
Since these don’t expire for 20 days, let’s look at the biggest 21-day moves after the last 12 earnings:
Biggest UP move: 16.5%, Biggest DOWN move: -10.7%, Average move: 9.6%.
So as you can see, the stock does not significantly increase its post earnings moves between 1 and 21 days after earnings.
This trade is 21.2% OTM.
I have traded this on most earnings and have closed the trade for .05 or .10 within the next couple of days every time.
Selling puts on BA on the post-earnings move down
Sold $BA Feb 19 110 put @ 1.67
$GLD #ironcondor March 18 103/100/111/114 for 1.08 from tastytrade
#Earnings Sold to Open $BABA Jan 29th 59/64/76/81 iron condors for .88. Entered all at once. On last 12 earnings: Biggest UP move: 7.5% , Biggest DOWN move: -8.8% , Average move: 5.9% . These strikes are 9.6% (puts) and 7.3% (calls) OTM.
#Earnings Sold to Open $FB Jan 29th 89/84 put spreads for .50. Going for an iron condor; going for 102/107 call spread on next bounce.
FB moves on last 12 earnings: Biggest UP move: 29.6% , Biggest DOWN move: -6.1% , Average move: 6.3% . These strikes are 7.3% (puts) and 6.3% (calls) OTM. I’m giving the put side a bit more room. The 29.6% up move is an outlier from July 2013… the next highest is +14.1%, and then all other moves were less than 7%.
BTO FB BF this week earnings play 97/100/103 calls .46
BTC AAPL 100 Call .14 looking for a bounce. part of IBF for this week, earnings play.
@Jeff — looking at IC for AMZN. Reports tomorrow after the close. Some pretty juicy premium. Where do you find the info on max moves at earnings? You usually post those things, but was wanting to look into that. Thanks! BTW, are you or anyone looking at AMZN for a play tomorrow?
Lately, there has been little reason to start selling index spreads until we have reached a 1% move in either direction. On SPX, 20 points in the new 5 points.
#Earnings Bought to close $AAPL Jan 29th 100 calls for .13. Clearing the way for remote chance of a rally back to 100 by week’s end. I am doubtful now, but closing these cheaply removes all upside risk. However, it also slightly increases your max loss.
SPX support at 1895 and 1888 and 1878…