Unfortunately tied up with the real job all week so missing the excitement. Did manage to add a few positions earlier:
BIB – bought stock at 45.50
XIV – bought stock at 17.10
Added to UVXY bear call spreads also…Feb 60/70 and Mar 65/75 and Jun 70/80.
Good luck everyone!
Greetings everyone. Hope everyone is making it through this downdraft ok. My accounts have seen better times, but I’m still weathering the storm thus far. New contributor and really enjoy the site and learning about the #vxxgame in particular.
Current vxx positions all small. Some positions have been on a while.
Short Jan5 82 calls @1.05
Short Feb1 25 puts @.80
Short Feb ’16 21 puts @.76
Short Feb ’16 22 puts @.66
Short Jan ’17 170 calls @11.75 (underwater currently)
Closed Short SVXY 35 puts today @4.30 Originally sold @1.10 (Will look to roll these somewhere in the coming days)
Gold Miner positions:
DUST-Short Feb ’16 10 puts @.63
DUST-Short Feb ’16 34 calls @.65
DUST-Short March ’16 40 calls @1.25 (Got this idea from Bistro-thanks!)
NUGT-I was burned on some short 19 puts that I put on when it was pushing above 27. Will look to roll somewhere soon.
I put on ES future options spread last night around 9est. I tend to use these to hedge or in place of SPX Spreads during Vol markets.
Feb ’16 1800/1780 put spread bought @4.75 and sold at 6.75 before lunch. (Lucky to get out before the big reversal)
Also short some WMT Jan ’17 50 puts @2.13 back in early December. (Gave back a lot of profit on this in the last 13 days)
I have some XLE calendars I’ve been playing for months and also tend to day trade SPY options a few times a week.
I use daily and weekly options trade alerts to watch the big dogs to help determine direction and large bets in individual names.
$UVXY #ShortPuts – so I wasn’t done after all … Sold a large number of UVXY Feb 19 2016 23.0 Puts @ 0.30. Strike is below the all time low on the stock. I really, really hope it gets close.
According to TC2000 charting, we just hit the highest TICK reading since May 8th.
SPY now printing a hammer on the daily chart
Higher than average volume intraday reversal. Now we’re “only” down about 1.4%. Remaining cautious…
Ok, we hit 1820. Now what? We might rally for a day or few, but if we come back down to test today’s lows again, be ready for 1700’s.
$XBI went positive on the day. S&P 18 points off LOD. Maybe the margin clerks are done and can get a bit of relief into the close.
#ContangoETFs #Rolling Rolled short calls into a strangle
BTC TZA Feb 18th 70 calls for 7.95
STO TZA March 18th 80 calls for 7.15
STO TZA March 18th 50 puts for 1.00
Closed the Jan 29th 2020/2030 bear call spread @ 0.05 when a good till cancel order filled. Originally sold for 0.80 on 1/14
$DUST #CoveredCalls #IRA – Sold DUST Feb 19 2016 27.0 Calls @ 1.41. Assignment of these would take me out of the stock position with a nice gain.
STO 1 Jan 29 $95.5 call @ $1.52
Treading extremely carefully as market feels like it has further to go. Staying very short term with my trades right now. It’s likely that I won’t make any more sales until Friday. Have quite a few contracts expiring this week so want to see those very close to expiration before I put on any more trades.
Lowest day on SPX since February 2014 (we have exceeded Oct 2014 correction lows)
VIX hit 150% above Oct 28th low, and at a new high, beating Friday’s high (highest since 9/1/15)
Lowest day ever on USO, which started in 2006
SVXY lowest level since Dec 2012 (when I started #VXXGame!)
In sharp contrast, UVXY was this high only 3 months ago
$UVXY #ShortCalls #VXXGame – Just about my last trades for the day in UVXY(or anything else).
I’ll be waiting for even higher strike prices above 95 in the weekly calls after today’s move. I’ll restart selling after this week’s positions expire.
Sold 1 UVXY Mar 18 2016 165.0 Call @ 4.10
Sold 1 UVXY Jan 20 2017 170.0 Call @ 20.10
TWTR has been slaughtered since Jan 1, and hit new lows today. But after being down 9% yesterday, it has bounced today and is down only 2.4% while markets keep dropping. It’s valuation alone must becoming attractive. Is it a bottom?
#SPXcampaign Sold to open $SPX Feb 5th 1615/1590 put spreads for 1.25.
As we hit 3.5% down on the day, that will be the final spread I try. We will need some strong bounce days in the mix for these put spreads to survive. Today’s drop is the biggest of the year and VIX just hit its highest level since Sept 1st.
$SVXY STO Jan 22 32/28 BuPS @.80. I’ll take shares down here.
$SPY closed a Feb 19 197/206 BeCS managed at about 80%
$UVXY #ShortCalls – Sold UVXY JAN 22 2016 97.0 Calls @ 0.16 with the stock still below 57. These expire in 2 days
Strange strike (95.50) at the top of the chain with everything else at 95.00.
Sold $UVXY Jan 29 95.50 call @ 1.35
#SPXcampaign Bought to close $SPX Jan 29th 2000/2025 call spreads for .20. Sold last Thursday for 1.35.
$UVXY #ShortCalls #VXXGame – Sold 1 UVXY Feb 12 2016 95.0 Call @ 3.40. Completed my #OptionLadder for Jan/Feb at the top of the chain
STO Jan 22 92/90 BuPS for 0.25. Support continues to be at 100, IMO.
#EarlyAssignment #Rolling #ContangoETFs
Although I have been rolling my $TZA position that started as a Jan 15th 50 calls, I did not roll my Jan 22nd 50 calls. One was assigned last night, so today rolled the whole position:
Assigned (1) TZA Jan 22nd 50 call
STC (100) TZA stock for 69.75
BTC (1) TZA Jan 22nd 50 call for 19.90
STO (2) TZA March 50 calls for 20.60
Hard to pass this one up. Sold $SPX Feb 19 1600/1575 BuPS @ 1.30. Strike is 2 standard deviations away.
Added another 2 standard deviation put spread for this week:
Sold $SPX Jan 22 1745/1720 BuPS @ 1.30.
$SPX Closed my Feb 2nd 1625/1885 BuPS @2.10, a 0.85 loss. Time to sit on my hands again. I considered rolling down and out but no bottom yet and I will not be around for Feb so just going to the sidelines here.
#VXXGame Keeping these close to expiration, as not sure how high this can get in coming weeks.
Adding to positions:
STO UVXY Jan 22nd 70 call for 1.00
STO UVXY Jan 22nd 75 calls for .60
STO UVXY Jan 22nd 80 calls for .36
STO UVXY Jan 29th 95 calls for 1.00
#Earnings BTC $NFLX Jan 22nd 85 puts for .05. Sold yesterday for .72 (avg price)
$UVXY #ShortCalls – using the new higher strike prices to add small positions
Sold 1 UVXY Jan 29 2016 95.5 Call @ 1.03
Sold 1 UVXY Feb 05 2016 95.0 Call @ 2.10
Sold 1 UVXY Feb 19 2016 95.0 Call @ 3.95
Sold 1 UVXY Feb 26 2016 95.0 Call @ 5.00
#SPXcampaign Sold to Open $SPX Jan 22nd 1750/1725 put spreads for 1.30. These are added to the ones I sold last week, so this is now a double position. Expires this Friday, unless we drop 100 points more.
STO $UVXY Jan 29th 95 calls for 1.00
Options Bistro 