#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
Monthly Archives: January 2016
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
$SVXY #ShortPuts #IRA – Sold…
$SVXY #ShortPuts #IRA – Sold 1 SVXY Jan 20 2017 30.0 Put @ 6.70. Adding to my position.
Also Sold SVXY Jun 17 2016 23.0 Puts @ 1.90. This is the lowest strike price available for any month and, with just a bit over 5 months to expiration, is the safest SVXY Put sale in my opinion.
SPX call spread added
#SPXcampaign Sold to Open $SPX Feb 12th 2060/2085 call spreads for 1.25.
UVXY same-week puts
#VXXGame STO $UVXY Jan 15th 35 puts for 1.00
STO UVXY Jan 15th 35/33 put spreads for .45 (smaller account)
UVXY new strikes
#VXXGame Some higher strikes added, up to 70 in Feb weeklys and 74 in the Feb monthly.
STO $UVXY Feb 19th 74 call for 6.75
STO $UVXY Jan 22nd 80 call for 2.00 (adding)
$UVXY calls
#VXXGame trades
Sold $UVXY Jan 29 80 call @ 3.15
New strikes added in February. Starting positions at the new highest strikes:
Sold $UVXY Feb 5 70 call @ 5.75
Sold $UVXY Feb 12 70 call @ 6.50
Sold UVXY Feb 19 74 call @ 6.80
Sold UVXY Feb 26 70 call @ 8.25
SPX calls closed
Missed a fill on this morning’s pop, so disappointingly did not add a new spread. However, these trades…
#SPXcampaign
BTC $SPX Jan 22nd 2050/2075 call spreads for .20. Sold for 1.45 on Friday.
STC $SPX Jan 22nd 1800/1775 put spread for 2.20. Bought for 1.10 on Friday. This is only one of the spreads; letting the rest ride and scale out as SPX drops further.
$GDX, $DUST, $NUGT
Wow, relatively minor move in Gold (/GC) today but $GDX is getting hit hard. $DUST and $NUGT really on the move.
SPX spread
STO $SPX Jan 29 1775/1765 BuPS for 0.70.
KOLD pop
#ContangoETFs Selling whatever I can for options that expire Friday…
STO $KOLD Jan 15th 155 calls for 1.50
UVXY SVXY
Just checking in…still out of town dealing with some issues with aging parents (we’ve all been there I’m sure) Nothing life or death but still needed my attention. I’ve been circling the wagons a little and reducing a few things. Biggest so far last week was selling UVXY puts and taking the proceeds to close some SVXY puts. I’ve been a little too heavily weighted in SVXY so this has helped quite a bit.
Mostly everything else in Eminis. Still short there as a little hedge so helping quite a bit.
Have a great week everyone! I may make it back towards the end of the week but not sure yet…
Good luck!
$SVXY #ShortPuts #IRA – Sold…
$SVXY #ShortPuts #IRA – Sold 1 SVXY Jan 20 2017 25.0 Put @ 4.20.
kick up DUST
#ContangoETFs STO $DUST June 25 call for 2.15
$UVXY
BTC Jan 15 $170 calls @ $.03
BTC Jan 15 $150 calls @ $.05
Really not much left to get here so just taking them off.
$SVXY #ShortPuts #IRA – Sold…
$SVXY #ShortPuts #IRA – Sold 1 SVXY Jan 20 2017 30.0 Put @ 6.20. Over 20% return on cash in a IRA account
$CMG #CoveredCalls – sold these…
$CMG #CoveredCalls – sold these this morning against stock put to me at 420 Friday.
Sold 1 CMG Jan 15 2016 445.0 Call @ 1.10
Sold 1 CMG Jan 15 2016 450.0 Call @ 1.05
Pre-market fill
#SPXcampaign In pre-market, BTC $SPX Feb 5th 2130/2155 call spreads for .20. Sold for 1.25 last Tuesday.
#OptionsExpiration and Adjustments for 1/8…
#OptionsExpiration and Adjustments for 1/8
Had to do some maneuvering and didn’t have a chance to post earlier.
Bought to close $NFLX Jan 8 114 puts @ 1.51 as the stock was falling through 113 earlier, to avoid assignment. Sold for 4.70 as a rollout on 12/14. Overall rolled position profitable by 1.17 per contract.
Rolled $NFLX Jan 8 115 puts down and out to next week–Jan 15 113 puts @ .76 credit. Booking a loss of 1.05 per contract on this roll.
Rolled $SVXY Jan 8 45 put out to Feb 5 45 put @ 1.94 credit. Booking a loss of 3.35 per contract on this roll.
Expirations:
$NFLX 01/08/2016 110 puts
$UVXY 01/08/2016 50 calls
$UVXY 01/08/2016 80 calls
$SPX 01/08/2016 2160/2185 call spreads
$SPX 01/08/2016 1865/1840 put spreads
No assignments this week. That won’t be the case next week if the market doesn’t turn around. Big January monthly expiration on Friday 1/15.
Have a great weekend everyone!
#OptionsExpiration – some good some…
#OptionsExpiration – some good some bad. Out of $UVXY. Into $CMG and $WYNN
— Expirations —
CMG (Weekly) Jan 8 2016 395 Puts
NFLX (Weekly) Jan 8 2016 90 Puts
NFLX (Weekly) Jan 8 2016 95 Puts
NUGT (Weekly) Jan 8 2016 36 Calls
SVXY (Weekly) Jan 8 2016 48 Calls
SVXY (Weekly) Jan 8 2016 48.5 Calls
SVXY (Weekly) Jan 8 2016 65 Calls
SVXY (Weekly) Jan 8 2016 66 Calls
SVXY (Weekly) Jan 8 2016 70 Calls
UVXY (Weekly) Jan 8 2016 20 Puts
UVXY (Weekly) Jan 8 2016 50 Calls
UVXY (Weekly) Jan 8 2016 55 Calls
UVXY (Weekly) Jan 8 2016 60 Calls
UVXY (Weekly) Jan 8 2016 65 Calls
UVXY (Weekly) Jan 8 2016 70 Calls
UVXY (Weekly) Jan 8 2016 75 Calls
UVXY (Weekly) Jan 8 2016 80 Calls
— Assignments —
CMG (Weekly) Jan 8 2016 420 Puts
UVXY (Weekly) Jan 8 2016 40 Calls (Covered)
UVXY (Weekly) Jan 8 2016 41 Calls (Covered)
UVXY (Weekly) Jan 8 2016 42 Calls (Covered)
UVXY (Weekly) Jan 8 2016 43 Calls (Covered)
UVXY (Weekly) Jan 8 2016 44 Calls (Covered)
WYNN (Weekly) Jan 8 2016 61 Puts (Covered) – covered my short position
WYNN (Weekly) Jan 8 2016 60 Puts – puts me long again
#ToughMarket
BTC $UVXY Jan 8 $41 calls @ $0.50 when $UVXY was at $40.75 and market was sinking into the close. Sold for $0.51 so broke even, but this looked like a slam dunk a couple of hours ago. Sure glad I closed as $UVXY spiked from there.
Still trading very small and carefully.
STO $UVXY June $80 call @ $13.00
STO $UVXY Jan 18 $80 call @ $25.00
STO $UVXY Mar $165 call @ $2.95
Options Expiration 1/8/16
Expiring with max profit…
$SPX 1900/1875 put spreads (sold at close yesterday for 1.20)
$SPX 2030/2055 call spreads
$SPX 2060/2085 call spreads
$SPX 2090/2115 call spreads
$SPX 2100/2125 call spreads
$SPX 2175/2200 call spreads
$UVXY 22 puts
$UVXY 22/20 put spreads
$VLO 74 call
$VLO 67 (covered) put
Have a great weekend, everyone!
UVXY calls / VIX call
#VXXGame Added these at the close:
STO $UVXY Jan 22 80 calls for 1.50 (highest strike)
STO $UVXY Jan 15 100 calls for .30 (expire next week)
and…
STC $VIX Jan 19th 19 call for 6.20. Bought for 2.87 average in late December. Still holding 4 more into next week.
more KOLD cut
#ContangoETFs Two-day rally in Nat Gas and $BOIL is likely to see some relaxing on Monday. Hoping $KOLD waits for another week before getting below 120, but it’s definitely headed there.
STO KOLD Jan 15th 114 put for 2.25
STO KOLD Jan 15th 110 puts for 1.30
BTO SPX Jan4 1800/1775 Put…
BTO SPX Jan4 1800/1775 Put 1.05 Debit spread. followed JEFF
One last call spread
#SPXcampaign STO $SPX Feb 6th 2075/2100 call spreads for 1.40. That should be enough for today.
Filled at 1.10 for the…
Filled at 1.10 for the long Put Debit Spread below. #SPXcampaign
BUY a spread
#SPXcampaign Yes, that’s right. I am trying to buy the $SPX Jan 22 1800/1775 put spread. I missed my fill as this drop started happening, so I will try on the next bounce. As I believe 1900 and lower is in the cards for next week, I am adding the PURCHASE of spreads into the strategy on occasions where direction seems apparent, and the cost of purchasing is more than covered by selling call spreads. The intention here is not to bring the spread ITM, as I don’t expect 1800 by the 22nd. But this trade will make between 100% and 200% if we get down to 1900 next week. I will update if I get filled.
Call spread closed
#SPXcampaign I had this GTC order in all week, but this one did not close at yesterday’s lows, and instead closed at today’s open. I think it goes to show that when volatility is high, call spreads have difficulty closing due to fluctuating prices, even as the index is sinking far away from the strikes.
BTC $SPX Jan 29th 2160/2185 call spreads for .10. Sold for 1.35 on 12/29.
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Another call spread
#SPXcampaign STO $SPX Jan 29th 2060/2085 call spreads for 1.50.
SPX call spreads
#SPXcampaign Started with this one, trying for more…
STO $SPX Jan 22 2050/2075 call spreads for 1.45.
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Good morning…
Good jobs report… time to short the rally. I will be selling call spreads today.
$DUST #ShortPuts – Sold DUST…
$DUST #ShortPuts – Sold DUST Jan 15 2016 10.0 Puts @ 0.20 – expires in 6 days.
$UVXY #ShortCalls – Staying small…
$UVXY #ShortCalls – Staying small but adding at better prices –
Sold UVXY Jan 15 2016 115.0 Calls @ 0.22 – expires in 6 days.
Sold UVXY Jan 22 2016 80.0 Calls @ 1.68 – a couple of weeks out and 100% OTM plus top of the chain
Sold 1 UVXY Mar 18 2016 165.0 Call @ 3.15 – top of the chain and the best risk reward for the time to expiration and the margin requirement of any UVXY option out there. You should be able to ride this position through any VIX spike
Sold 1 UVXY Jun 17 2016 80.0 Call @ 10.95
Sold 1 UVXY Jan 20 2017 170.0 Call @ 12.0
SPX final put spread closed
If SPX ends tomorrow at this level, it will cost me $25.00 to close this spread. So I’m instead closing it now while the long puts still have plenty of value. I will look to do an ITM spread in the near future to replace this. It is a small position so not a huge headache.
BTC $SPX Jan 8th 1970/1945 put spreads for 14.60. Sold for 1.25 last Thursday.
SVXY new low
#VXXGame SVXY just tagged its lowest level since July 2013… a true laggard in the last 15 months, even though it managed to tag an all-time high in June 2015.
Soundtrack for the day…
This song was used in the ending credits for The Big Short (which you should all see) and I think it’s appropriate for today…
Out and Up
#ContangoETFs #Rolling
Man how I love these ETFs; able to roll 10 points higher and still take in a huge credit. $TZA hasn’t been to 60 since the Oct 2014 correction.
BTC TZA Jan 15th 50 calls for 4.65. Sold for 1.40 on Dec 7th.
STO TZA April 15th 60 calls for 5.85.
SVXY
@GreenGhost dissing a 12 month put sale on SVXY on OMM. Time to sell ’em IMHO. He is a great contrary indicator
$UVXY #ShortCalls – Staying small…
$UVXY #ShortCalls – Staying small but adding at better prices –
Sold UVXY Jan 22 2016 80.0 Calls @ 1.48 – a couple of weeks and 100% OTM
Sold 1 UVXY Jan 29 2016 80.0 Call @ 2.21 – a few weeks and 100% OTM
Sold 1 UVXY Mar 18 2016 165. 0 Call @ 3.05 – top of the chain and the best risk reward for the time to expiration and the margin requirement of any option out there. You should be able to ride this position through any VIX spike
$UVXY #ShortCalls – being cautious…
$UVXY #ShortCalls – being cautious but not missing an opportunity. Short medium and long term bets.
Sold UVXY Jan 15 2016 110.0 Calls @ 0.22 – next week
Sold 1 UVXY Jan 29 2016 80.0 Call @ 2.09 – a couple of weeks and 100% OTM
Sold 1 UVXY Jun 17 2016 80.0 Call @ 10.40 – top of the chain
Sold 1 UVXY Jan 20 2017 170.0 Call @ 11.60 – a year out and top of the chain
UVXY soars
#VXXGame STO $UVXY Feb 66 call for 4.00 (a few minutes ago, now it’s 4.75)
STO UVXY Jan 15th 125 call for .15… expire next week. This strike is pretty ridiculous, which is why I only got filled on 1 contract. I’ll see how many I can get.
VIX Indicator firing again
We just passed 25% above Tuesday’s close, which is another Downside signal. Perhaps we’ll get the panic spike today, but I would at least think we should see VIX above the Dec 14th high, which was 26.81, when the low on SPX was 1993… VIX should be higher already. Next VIX signal is at 25.60, which is 100% above the most recent low (Oct 28).
$NUGT $DUST – both are…
$NUGT $DUST – both are on the move. Some near term and long term bets:
Sold NUGT(Weekly) Jan 22 2016 45.0 Calls @ 0.25
Sold DUST Feb 19 2016 10.0 Puts @ 0.75
Sold 1 NUGT Jun 17 2016 72.0 Call @ 2.60
SPX puts closed (again)
#SPXcampaign BTC $SPX Jan 8th 1940/1915 put spreads for 4.00. Sold for 1.50 on Tuesday. Can’t risk another overnight flush on the S&P, so getting out now. This leaves only one small-sized spread at 1970/1945, currently partly ITM. I will let this one sit and deal with tomorrow, since it is small and easy to shoulder if necessary. Plenty of call spreads expiring tomorrow and in future weeks. Will sell more on any rally and possibly try put spreads on extreme lows. VIX is higher today, but not spiking too high so I still believe 1900 is coming soon.
UVXY June calls
In classic Iceman/#VXXGame style, I just sold $UVXY Jun 17 80 call (highest strike) @ 9.25. Adding to the position at a premium of 1.00 higher than the previous sale.
KOLD closing, VLO opening
#ContangoETFs BTC $KOLD Feb 19th 300 call for .90. Sold for 16.00 on Dec 18th. I don’t think this is at risk of being breached, but closing calls does release margin pressure. I am happy with over 90% of max.
STO $VLO Jan 22nd 74 call for 1.00, after selling a put on this morning’s dip. #Earnings
KOLD low
Nat Gas resuming its rally, and $KOLD hits its lowest point since November 19th.
STO $KOLD Jan 15th 119 put for 1.80
STO $BOIL March 18th 24 call for 1.30
#ContangoETFs
$UVXY Rolled a Jan. 8…
$UVXY Rolled a Jan. 8 covered 32 call to Jan 22 35 call for a 1.15 credit.
$UVXY
STO 3 Jan 15 $70 calls @ $0.43
Staying small but these are 100% OTM with 6 more trading days.
$FB #ShortStock – Bought to…
$FB #ShortStock – Bought to Cover 100 FB short stock @ 99.74. Was assigned on a Short FB Nov 20 2015 100.0 Call and just now was able to cover profitably.
FB will probably now drop to 95 ….
Still short some FB Jun 17 2016 70.0 Puts which look fine for now
Covered put
STO $VLO Jan 29th 67 put for 1.50. I continue to sell puts and calls against this short stock position… assigned at 65.00 after an #Earnings play, my cost basis is now just below 68.00. It is a bullish chart, but the stock is having trouble rising due to oil and market volatility.
China suspends circuit breaker rule
Looks like China is throwing in the towel on their new rule. Makes sense, since they cannot open every day, have a 7% sell-off, and then shut down. This could mean less volatility for Futures tonight, or it could mean an even bigger China sell-off and global panic. And we have job numbers. What a week!
http://www.bloomberg.com/news/articles/2016-01-07/china-suspends-stock-circuit-breaker-rule-csrc-says-on-weibo
KOLD puts
#ContangoETFs STO $KOLD Jan 15th 120 puts for 1.30. Margin-free against numerous short calls and expiring in 6 trading days.
$NUGT #CoveredCalls – Sold NUGT…
$NUGT #CoveredCalls – Sold NUGT Jan 15 2016 40.0 Calls @ 0.15. These expire in 6 days and the stock is not even to 30 yet
$UVXY #ShortCalls #OptionLadder – Sold…
$UVXY #ShortCalls #OptionLadder – Sold these on the open. UVXY was over 39 pre-market, but opened calmer than I thought.
Sold 1 UVXY Feb 05 2016 66.0 Call @ 2.56
Sold 1 UVXY Feb 12 2016 66.0 Call @ 2.97
Sold 1 UVXY Feb 19 2016 66.0 Call @ 3.80
These expire Friday and are paired with long stock. I would welcome assignment.
Sold 2 UVXY Jan 08 2016 43.0 Calls @ 0.55
Sold 2 UVXY Jan 08 2016 44.0 Calls @ 0.55
UVXY calls
#VXXGame Sold near the open:
STO $UVXY March 165 calls for 2.60
STO $UVXY June 80 call for 9.00
Highest strikes in both expiries.
Good Morning… Bad News this…
Good Morning…
Bad News this morning (if you’re long)
Markets are in turmoil.
Chinese stocks close just 29 minutes after open
China’s stock exchanges closed for the day at 9:59 a.m. local time after the CSI 300 Index fell more than 7 percent. The selloff was sparked after the central bank cuts its yuan reference rate by the most since August. China’s foreign reserves dropped by a record $108 billion in December as its defense of the yuan becomes more costly.
European stocks follow China’s lead
The Stoxx Europe 600 Index slid as much as 3.6 percent, the most since August, before trading 3.2 percent lower at 10:40 a.m. in London. Germany’s DAX Index is trading below 10,000 for the first time since October. In the U.K., mining stocks have been hardest hit with Anglo American PLC down more than 10 percent. The pound dropped to a five-year low.
U.S. futures point to ugly open
Contracts on the Standard & Poor’s 500 Index slid 2.2 percent to 1,938 as of 10:50 a.m. in London. U.S. markets closed lower yesterday following the release of the Fed minutes from the December meeting which provided little clarity on the rate-path. Market indicators show the chances of a Fed rate rise by April have dropped to 43 percent today, from 52 percent on Tuesday. U.S. treasuries continued their longest advance since 2014.
Oil plunges to 2003 low
U.S. oil futures in New York slid to the lowest in 12 years with West Texas Intermediate dropping as much as 5.5 percent before trading down 2.5 percent at $33.12 a barrel at 11:13 a.m. London time. Volatility in the oil market may increase today as tensions in the Middle East rise following Iran’s accusation that Saudi Arabia was responsible for a missile attack on its embassy in Yemen. Industrial metals are also suffering today, with copper on the London Metal Exchange dropping 1.2 percent to $4,565 a metric ton, while nickel slumped 2 percent and zinc declined 2.2 percent. Gold is the only bright spot, trading above $1100 an ounce earlier this morning.
Good morning…
Well, not like we didn’t expect it. Don’t panic like the guy in the cartoon… protect your capital, take opportunities when you can. I’m looking for a big spike in the VIX to consider any neutral or bullish trades; even with Wednesday’s sell-off, VIX was relatively quiet. It has not yet signaled panic, but it has given plenty of downside warning. Once the panic comes, volatility will be driven to higher levels and VXX products will be primed for selling. SPX spreads will be possible in 1600’s or lower.
$CMG #ShortPuts – Added to…
$CMG #ShortPuts – Added to a couple of (very) speculative positions
Sold 1 CMG Jan 08 2016 420.0 Put @ 4.20
Sold CMG Jan 08 2016 395.0 Puts @ 0.60
Both expire (hopefully) on Friday.
New calls opened
#SPXcampaign STO $SPX Jan 8th 2030/2055 call spreads for 1.30. Adding this hedge against a couple of put spreads, 1970/1945 and 1940/1915. Hoping the SPX waits until next week to take its big dive.
SPX calls closed
#SPXcampaign BTC $SPX Jan 22nd 2130/2155 call spreads for .15. Sold for 1.30 on Dec 21st.
NFLX – someone lit a…
NFLX – someone lit a fire under NFLX (up 9). I’m glad I’m short more puts than calls.
The $DJIA just dropped to a new LOD however.
Wacky market 🙂
Rolling CMG out 1 week
With the stock breaching the strike I’m rolling out the Jan 15 425 put 1 week to Jan 22 for 2.50 credit.
Bought to close $CMG Jan 15 425 put @ 11.90 (sold for 2.50 on 12/21)
Sold to open $CMG Jan 22 425 put @ 14.40
BTC Jan4 SPX 2125/2140 .10…
BTC Jan4 SPX 2125/2140 .10 sold for 1.55
ETF calls
#ContangoETFs
STO $NUGT Jan 29th 35 calls for 1.15
STO $KOLD Feb 320 calls for 1.15
STO $KOLD Feb 220 call for 4.60
Thanks @optioniceman for the ideas.
$KOLD #ShortCalls – Sold KOLD…
$KOLD #ShortCalls – Sold KOLD Feb 19 2016 220.0 Calls @ 4.20
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