#OptionsExpiration for 2/5/16
Expired:
$EOG 02/05/2016 65.00 puts
$LNKD 02/05/2016 230.00 calls (the good side of the nightmare strangle)
$UVXY 02/05/2016 66.00 calls
$UVXY 02/05/2016 85.00 calls
$UVXY 02/05/2016 95.00 calls
No assignments
Have a great Super Bowl weekend everyone!
#ContangoETFs Sold to Open $NUGT March 18th 50 call for 5.25
#OptionsExpiration #Weeklys #Feb05 – A pretty good week, with a nice earnings compression trade on $CMG the most fun. A new short position in $NUGT to deal with next week.
— Expirations —
AGNC (Weekly) Feb 5 2016 18 Calls (Covered)
CMG (Weekly) Feb 5 2016 397.5 Puts
CMG (Weekly) Feb 5 2016 400 Puts
CMG (Weekly) Feb 5 2016 402.5 Puts
CMG (Weekly) Feb 5 2016 405 Puts
CMG (Weekly) Feb 5 2016 407.5 Puts
CMG (Weekly) Feb 5 2016 410 Puts
CMG (Weekly) Feb 5 2016 412.5 Puts
CMG (Weekly) Feb 5 2016 415 Puts
CMG (Weekly) Feb 5 2016 422.5 Puts (Covered)
CMG (Weekly) Feb 5 2016 425 Puts (Covered)
CMG (Weekly) Feb 5 2016 427.5 Puts (Covered)
CMG (Weekly) Feb 5 2016 575 Calls
CMG (Weekly) Feb 5 2016 580 Calls
FCX (Weekly) Feb 5 2016 6.5 Calls (Covered)
NUGT (Weekly) Feb 5 2016 30 Puts
UVXY (Weekly) Feb 5 2016 20 Puts
UVXY (Weekly) Feb 5 2016 35 Puts
UVXY (Weekly) Feb 5 2016 35.5 Puts
UVXY (Weekly) Feb 5 2016 36 Puts
UVXY (Weekly) Feb 5 2016 66 Calls
UVXY (Weekly) Feb 5 2016 85 Calls
UVXY (Weekly) Feb 5 2016 95 Calls
WYNN (Weekly) Feb 5 2016 64 Calls
WYNN (Weekly) Feb 5 2016 73.5 Calls
WYNN (Weekly) Feb 5 2016 74 Calls
— Assignments —
DUST (Weekly) Feb 5 2016 10 Puts
DUST (Weekly) Feb 5 2016 9.5 Puts
DUST (Weekly) Feb 5 2016 8 Puts
KSU (Weekly) Feb 5 2016 75 Calls (Covered) – Profitable exit and getting a lot of cash back
NUGT (Weekly) Feb 5 2016 32 Calls (Covered)
NUGT (Weekly) Feb 5 2016 32.5 Calls – Going short the stock
NUGT (Weekly) Feb 5 2016 40 Calls (Covered) – Profitable exit after a long holding period
Didn’t have a chance to post in the end of day craziness but I rolled 3 in the money positions:
Rolled $NUGT Feb 26 37.00 calls up and out to Mar 18 38.00 calls for 1.26 credit
Rolled $NUGT Mar 4 37.50 calls up and out to Mar 24 38.00 calls for 1.32 credit
Rolled $NUGT Mar 11 37.50 calls out to Mar 24 37.50 calls for .90 credit
I’ll keep rolling calls until this trend breaks.
Had a good number of total contracts expiring this week. If it hadn’t been for $NUGT, this would have been a very profitable week.
$UVXY $55 Calls
$UVXY $66 Calls
$UVXY $74 Calls
$UVXY $80 Calls
$UVXY $85 Calls
#Earnings
Bought to close $FB Feb 5th 110 put for 6.40, and covered 100 shares of short FB stock for 103.67. Decided to take advantage of the overdone day and roll the put. I have sold several FB puts and will sell more next week.
Bought to close (1) $DATA Feb 5th 62 put for 20.50. Reducing risk over weekend by taking assignment of fewer shares. Also earlier, I sold (1) March 18th 45 call for 3.00.
#OptionsExpiration Rough week with DATA earnings trade going south. This will be a tougher one to manage than FB or VLO as the company is newer and has an uncertain future.
Expiring with 100% of max profit:
$CMI 81.5 puts
$DATA 100 calls
$SPX 1980/2005 call spreads
$UVXY 23, 27 puts
$UVXY 27/25 put spread
$UVXY 55 calls
$VLO 73 call
#Assignment
$DATA 62 puts, long stock assigned, cost basis 60.80
$VLO 63 & 65 puts, covering most of my short stock position, cost basis over 70.00
Expiring Worthless:
$SPX 1675/1650 put debit spread – bought a couple weeks ago, but the down moves did not come soon enough, so never got a profit to take.
Seems the shiny stuff has a big reversion to the mean to the upside. RSI OB on daily, but not sure it matters right now.
$NFLX #ShortPuts #FallingKnife – Sold NFLX Sep 16 2016 45.0 Puts @ 1.93
#Earnings Bought to Close $CMI Feb 5th 98 calls for 1.30. Sold as part of earnings strangle for 1.05. Taking the small loss on this one as I don’t need another stock position to manage.
$UVXY #ShortCalls #VXXGame – Sold UVXY (Weekly) Mar 24 2016 80.0 Calls @ 4.70. New weekly series has started. Highest available strike price.
#VXXGame Sold a few UVXY Feb 12th 70 calls for .45. May add a few more if premium increases.
$UVXY #ShortCalls #VXXGame – Sold UVXY (Weekly) Mar 11 2016 90 Calls @ 2.29. New higher strike price for this week.
$LNKD #ShortPuts #FallingKnife – Sold 1 LNKD FEB 12 2016 100.0 Put @ 2.45
OPTION EXPIRATION 1/5/16 Posting Early, using Panera’s Wi-Fi, as mine is down.
—-PUTS—-
$KMI 14.0 PUTS
$KMI 14.5 PUTS Thanks to Ramie for this name.
—-CALLS—-
$ETE 9.5 CALLS
$ETE 10.0 CALLS
$VXX 30.0 CALLS
$WLL 7.5 CALLS
STO UVXY FEB4 16 (2/26/2016) 100 CALL @.50
#spxcampaign STO SPX MAR2 16 (3/11/2016) 1670/1645 BuPS @1.40
$NOW is on my bad list, being very uncooperative, looking like first loss of 2016 50/60 BuPS sinking stock at 51.60 arrrggghhh
$KMI Covered my fat finger mistake from the other day.
BTC 2/19/2016 16.0 CALLS @.52 SOLD @60.
Extending duration on this trade. With options so deep in the money now, there wasn’t any real premium to be had until after the next earnings cycle so I went out to May.
Rolled $LNKD 2/5 160 put to May for 2.23 credit
Will let today’s 235 call expire and selling a May 180 call for 1.50 to offset the put
#ContangoETFs Performed some margin management this morning by closing some calls. I will replace the 97 with new ITM calls in the future, but the rest were closed with profit.
BTC KOLD Feb 97 call for 79.00. Sold for 16.10 on Sept 29th
BTC KOLD Feb 250/275 call spreads for .65. Sold for 1.00 on 12/29
BTC KOLD Feb 270 calls for .50. Sold for 16.50 on 12/22
BTC KOLD Feb 240 calls for 1.50. Sold for 14.00 on 12/24
and these BOIL calls closed on GTC orders: (interesting that they finally close on an UP day for BOIL)
BTC BOIL March 35 call for .05. Sold for 2.30 on Nov 6th
BTC BOIL March 30 call for .05. Sold for 3.50 on Nov 5th
What a beast this week. Dollar is up nicely today. Gold is flat to down a little. $XME is basically flat (given the overall market a definite out performer). Yet $GDX is strong as death.
Trying to work back all the money Inlost in DUST/NUGT
STO June 72 call 4.65
Sold $PANW Jun 17 80 put @ 1.85 with the stock at 128.71
#Earnings STO $FB Match 18th 100 put for 2.30 (earlier), and April 15th 87.5 put for 1.60.
I now have more puts than I do short stock, ranging from 87.5 to 110, so now I will have to control which ones I allow to be assigned and which ones I will roll.
#Earnings BTC (1) $DATA Feb 5th 62 put for 18.75. Covered 1 of 5 in case we drop further from here. Looking to sell a March call if we get more bounce.
#SPXcampaign Sold to Open March 4th 1680/1655 put spreads for 1.25.
#Earnings DATA bounced off the 40.00 level and has been trending up, even as markets are dropping. The collateral damage though is against sector sister NOW, down 15% today, for which I am short the Feb 19th 60 puts.
#SPXcampaign Sold to Open $SPX Feb 12th 1790/1765 put spreads for 1.35. Expire next Friday.
Going out almost 2 standard deviations, and 225 points down.
Sold $SPX Mar 11 1665/1640 BuPS @ 1.30
Sold $FB Apr 15 87.50 puts @ 1.26
Rolled Feb 29 puts up to 33 for .55 credit. Fairly aggressive but short quite a few BeCS in Feb and Mar. Total credit on these now up to 1.66
$SPX Closed my Feb 12th 2030/2050 BeCS @ 0.05 on a GTC order.
$STZ closed my Feb 135/140 BuPS @ 1.01. Opened yesterday @ .50. Didn’t work. $STZ is breaking below the 50dma.
Adding one more…
Sold UVXY JUN 17 2016 80/90 Bear call spread @ 1.90
Sold $LNKD Feb 19 95 put @ 1.35
$LNKD #ShortPuts #FallingKnife – Sold 1 LNKD MAY 20 2016 95.0 Put @ 5.00. I was a bit early. I will wait for lower strike prices to add.
Cramer slamming it on CNBC and he has a point. Hopefully 40 will hold as 39.57 was overnight low.
TSN is up over 11% today after earnings and raising profit forecast. No position here (yet). Any thoughts on some options? Sell some calls?
Surprised that FB is pulling back this much this soon after topping above 117 on Tuesday. I was nervous about being short the stock at 105.00 cost basis, now it don’t seem so bad.
I’ve been wondering; what would be the easier (less riskier) directional trade strategy; A Vertical spread (debit or credit) or a Diagonal spread?
Would love to hear your thoughts.
DATA down over 40% and LNKD down over 30%… these will be all-time biggest one-day post-earnings in each stock’s history (assuming no massive rally today). I did not trade LNKD but some here did, and I sold a strangle on DATA including 62 puts. With a smaller company like DATA, it is tougher to know how long it will be to recover, or if it ever does. For now, I will take assignment of the stock and sell premium around it. The majority of the time, there’s an eventual return to the mean… but other stocks, like TWTR, can keep dropping. This is, of course, why position size is so important with naked options. I always assume the stock could drop to zero and make sure that I wouldn’t lose half my account. (with DATA, I have 5 puts).
Sold 23.30 and bought back at 23.15 for a quick 15 ticks…still holding another short position at 23.25 with buy to close order at 22.75.
My strategy has failed on LNKD. I did the 235 call & 160 put. That hurts. The expected move was incorrect this time. Even doubling the expect move did nor work.
Options Bistro 