Jan 22, 29 Feb 5, 12, 19, 26
All show new higher strikes up to $85
Daily Archives: Tuesday, January 12, 2016
#ThinkorSwim Platform Issue
Must be some sort of problem with Think or Swim. It shows the market went up today. Must be getting bad quotes.
🙂
$CMG – sold some of…
$CMG – sold some of the stock I was put on Friday at 420.07 this morning. Made a bit of money on a two day trade. Based on what it has done since then, I should have sold it all.
#OffTopic – just arrived to a rainy day in the Keys, but missed the snowstorm at home.
$AAPL Filled on Jeff’s #ironbutterfly…
$AAPL Filled on Jeff’s #ironbutterfly idea @1.42, sold a Jan. 15 100/98 BuPS and a 100/102 BuCS
More profit-taking
#SPXcampaign BTC $SPX Feb 5th 20175/2100 call spreads for .40. Sold for 1.40 last Friday.
KMI roll
On 12/9 I sold some puts on the thesis that, with the dividend cut behind the stock, that 15 could have been the bottom. Clearly I was wrong on that so I’m rolling this position out for more duration and additional premium.
Rolled $KMI Jan 15 15 puts out to Feb 19 15 puts @ .45 credit
#Market
Looks like yet another failing rally. Just can’t hold any gains for long. Oil rolls over and the market is right behind it.
More ETF action
#ContangoETFs
STO $DUST March 24 call for 1.75
STO $KOLD Jan 15th 159 call for 2.35
STO $KOLD May 280 call for 6.20
AAPL straddle
#Pinning #ShortStraddle
STO AAPL Jan 15th 100 straddle for 2.34.
Based on gigantic Open Interest on the $AAPL 100 calls and puts, this is a pinning play. Pinning tends to work best on monthly expirations. This has a profit zone between 97.60 and 102.40. You can also reduce your risk and make this an #IronButterfly by buying 102 call and 98 put, which should give you 1.40 credit with .60 max risk.
Paring upside risk
#SPXcampaign BTC $SPX Jan 29th 2060/2085 call spreads for .50. Sold for 1.50 on Friday. This was a double-sized position so I closed half at 66% profit. Leaving the rest for now.
$UVXY
STO Feb 5 $21 puts @ 0.40
Gold plunge
#ContnagoETFs BTC $NUGT March 70 call for .35. Sold for 1.85 on Dec 4th
STO $DUST Jan 29th 20 calls for .80
Good morning…
Futures soaring as earnings season begins… Monday saw a new a new high in the VIX, briefly, before closing lower. Have we seen the peak in volatility, or is more to come? I’m expecting more, with SPX below 1900; but now I’m more cautious. I will be still selling call spreads at higher levels, and watching my lower ones in case rolls are necessary. Some of the biggest rallies occur during corrections. Something like 22 of the 25 biggest UP days in the Dow have occurred during downtrends, when the Dow was under the 200 dma (including just this past August 26th, which was the third highest increase in history). It’s important to keep this in mind on these big rally days during a correction.
#Gold $GDX $NUGT $DUST
Gold making another pretty good drop which should translate into $GDX making another big move today. Look for $NUGT and $DUST to really get juiced.
Have some short $DUST $17 calls expiring on friday that could get into trouble. Plan would be to just roll them if needed. I will just have to take solace in the fact that my short $NUGT calls will be killing it. I may take some profits on a few short $DUST calls today and look to re-enter again.
UVXY
A couple of trades yesterday that add to my cautious volatility position. I’m sticking with the highest available strikes until my ultra-large position expires at the end of the week.
Sold January 2017 170.0 calls @ 14.50
Sold March 2016 165.0 calls @ 3.55
Options Bistro 