#OptionsExpiration Quite a tough week, with a bullish feeling at the end… rally into next week or more downside ahead?
— Expiring with 100% of max profit:
NUGT 30 and 30.5 puts
UVXY 70 calls
UVXY 29 puts
SPX 1770/1745 put spreads
SPX 1790/1765 put spreads
SPX 1925/1950 call spreads
SPX 1990/2015 call spreads
— Assignment —
VLO 66 put, short stock position closed
#OptionsExpiration – a tough week with rallies in both Gold and the VIX. The big one is next week
— Expirations —
CMG (Weekly) Feb 12 2016 400 Puts (Covered)
CMG (Weekly) Feb 12 2016 402.5 Puts (Covered)
CMG (Weekly) Feb 12 2016 405 Puts (Covered)
CMG (Weekly) Feb 12 2016 407.5 Puts (Covered)
CMG (Weekly) Feb 12 2016 410 Puts (Covered)
DUST (Weekly) Feb 12 2016 8 Calls (Covered)
DUST (Weekly) Feb 12 2016 8.5 Calls (Covered)
FCX (Weekly) Feb 12 2016 6.5 Calls (Covered)
NFLX (Weekly) Feb 12 2016 102 Calls
NUGT (Weekly) Feb 12 2016 31 Puts (Covered)
NUGT (Weekly) Feb 12 2016 30.5 Puts
NUGT (Weekly) Feb 12 2016 30 Puts
NUGT (Weekly) Feb 12 2016 29 Puts
NUGT (Weekly) Feb 12 2016 28.5 Puts
TSLA (Weekly) Feb 12 2016 82 Puts
TWTR (Weekly) Feb 12 2016 20 Calls (Covered)
UVXY (Weekly) Feb 12 2016 85 Calls
UVXY (Weekly) Feb 12 2016 95 Calls
— Assignments —
DUST (Weekly) Feb 12 2016 9 Puts
DUST (Weekly) Feb 12 2016 9.5 Puts
NUGT (Weekly) Feb 12 2016 40 Calls (Covered)
$NUGT $30 puts
$NUGT $45 puts
$NUGT $50 puts
$UVXY $66 Calls
$UVXY $75 Calls
$UVXY 85 Calls
#OptionsExpiration for 2/12
$NFLX 02/12/2016 101.00 calls
$TSLA 02/12/2016 110.00 puts
$TWTR 02/12/2016 19.00 calls
$UVXY 02/12/2016 66.00 calls
$UVXY 02/12/2016 70.00 calls
$UVXY 02/12/2016 85.00 calls
$UVXY 02/12/2016 95.00 calls
$SPX 02/12/2016 1795/1770 put spreads
No assignments this week.
Have a great 3 day weekend!
Gold down today, yet $NUGT up 8%
NUGT #ShortCalls #RollOut – I can’t believe gold is still moving up while the market rallies and the VIX is dropping
Bought to close NUGT FEB 12 2016 35.0 Calls @ 20.40
Sold to Open NUGT SEP 16 2016 56.0 Calls @ 22.03
$ETE STO 3/4/16 4.50 PUTS @.55 Done for the day.
Option Expiration: WLL 6.00 CALLS Expired
Have a safe and great weekend everyone. ;>)
Bought to close $ZSL May 20 90 calls @ .40. Sold for 3.25 (actually 6.50 pre-2:1 split) on 11/12/15. No sense holding these for another 3+ months for the last .40, especially with the high carrying cost.
#SPXcampaign Putting money where my bearish mouth is… half-sized position,
Bought to Open $SPX March 11th 1650/1625 put spreads for 1.40. Idea is to double money next week if we push back down toward 1800. This is in addition to Robert’s ITM put spread I bought below.
BTC $UVXY 2/12/16 70.0 CALL @.03 Thanks to Jeff for this idea.
BTC $ETE 2/26/16 3.50 PUTS @.15
STO $UVXY 2/19/16 70.0CALLS @1.04 To replace the above, and yah, I know $UVXY’s down, but no premium in puts unless you go out in time, and I just wanted to get more familiar with Jeff’s idea.
BTO SPX Mar 11 1895/1880 BePS at $8.20…There is a K-Node at 1893-95 so I’ll place my stop at 1905.50 to get out if it breaks above the K-Node….The max Loss at that level should be less than $185 pp….
Closed two spreads today for early, but nice profit.
SPX Feb 12 1870/1880 Call spread, STO yesterday for 0.50 and BTC today for 0.20.
SPX Feb 19 2020/2010/1700/1690 IC, STO for 1.45 and BTC today for 0.20.
I’ll take those and enjoy my Valentine’s weekend.
SPX spreads, I sold the following today:March 4, 2000/2025 for 0.55, March 11,2000/2025 call spread for 1.15 and April 1, 2035/2065 for 1.40
Trading around a core position. In 36 the other day now out at 37.90 for a quickie.
Catching a bid again today even though Gold is down somewhat.
Phone trading again from gate D42 MIA. Lol…
Closed Feb 38 puts @ 06. Sold for 2.26 after multiple roll ups.
Sold Mar week 2 35 puts @ 1.15. A little late to the party but following Jeff.
Like the spread idea also. Trying for monthly 35/32 @ .75 in #IRA.
STO Feb 12 $50 puts @ $0.80
Sold this morning when it looked like $NUGT was going to continue higher
$SPX Jeff, followed you in this trade. I agree there is a lot of overhead resistance. Sold to open Mar 4th 1980/2005 BeCS @ 1.25 when $SPX traded at 1856.40. If this gets in trouble then the rest of portfolio will be happy.
Closing the position I put on 4 days ago and taking a little better than 50% max profit. In this market (and particularly with this stock) I didn’t want to wait more than a month for the other 50%.
Bought to close $CMG Mar 18 375 put @ 2.85. Sold for 6.10 on 2/8.
#SPXcampaign, I guess I am 5 points more patient than @Ramie…
Sold to Open $SPX March 4th 1980/2005 call spreads for 1.25, with SPX at 1857.
Sold $SPX Mar 4 1975/2000 call spread @ 1.40 credit. Short strike is well above resistance levels, and outside of 1 standard deviation (1963).
BTC $UVXY Feb 19th 70 calls for 1.20. Sold for 2.75. Good enough profit to close this; it was my lowest strike and don’t want to risk what could be a volatile week. Replaced them with…
STO UVXY March 11th 35 puts for 1.35
Smaller account: STO UVXY March 18th 35/33 put spreads for .52
There is a lot of resistance above this level on the SPX; there is 1862-65, then 1893-1900 and then 1945-50; if we push over the 1900 level, there may be enough short covering to push it to the next level at 1945-50…Who knows.
Price action today has been really sluggish, but we’ll see.
In addition to the ETFs I mentioned below, I am also scaling back on some troubled long positions, as I feel we will be going lower overall in the coming weeks. PLEASE do not take that as gospel… there are some who think we may have made a sufficient base at support around the Oct 2014 lows and will now grind or fly higher. Could be. But my opinion has formed since November’s slide down and only gotten stronger. Perhaps my posting of this will signal the bottom! But until that is clear, I remain bearish.
STC $DATA stock for 40.67. This was earnings assignment from 62 puts. Closed half the position before stock was assigned, now reducing more. I have sold one covered call (March 45)
BTC $NOW Feb 19th 60 puts at 12.00, avg price. Still holding on to some, offset with short calls
If these were stocks like DIS or MSFT going underwater, holding through pain will eventually pay off. But these companies are less liquid and could bleed off and never recover.
$LNKD #ironcondor sold a March 18 95/90/120/125 @ 2.06, stock is at 101 and change, thinking it is oversold
I’ve come under some margin pressure for over-sized call positions in both these names. I have been scaling back, closing my only remaining ITM KOLD call and a few NUGT ITM calls. I am refraining from new positions now. As I don’t want to limit my margin power in the future, I will hold off on selling multiple calls on these ETF’s until they are in a very strong uptrend. The spikes seem to happen often enough, but during the boring parts in between I sell too many that then go underwater. I am not rolling now as that wouldn’t help the margin issue, so I will look to profit from these #ContangoETFs in the coming weeks. I still have multiple OTM calls that should be safe in both KOLD and NUGT.
Options Bistro 