Gold futures are down about $10 since the markets closed @ 4pm. If that holds up, should see some pull back in $NUGT in the morning. A lot can change between now and then, but would like to see it pull back $4 or $5 bucks for tomorrow’s Opex.
Daily Archives: Thursday, February 18, 2016
$NUGT #ShortCalls – hoping to…
$NUGT #ShortCalls – hoping to make back my NUGT losses slowly with small #OptionLadder trades –
Sold 1 NUGT Mar 04 2016 75.0 Call @ 2.05
Sold 1 NUGT Mar 11 2016 75.0 Call @ 2.80
Sold 1 NUGT Mar 24 2016 75.0 Call @ 4.30
All are weekly expirations and all are at the highest available strike price. Pretty decent premiums with the stock twenty points below the strike.
By staying small and spreading out the risk across multiple expirations, only one of these gets in trouble at a time, and this stock is volatile in BOTH directions. The stock was just over 17 a little over a month ago.
STO QQQ BeCS 101.5/103 .70 for tomorrow
STO SPY IBF 192/190/190/188 1.63 for tomorrow
Closing BA
Taking more than 70% max profit on an April position I put on last week. With this market I’m keeping a tight leash on things.
Bought to close $BA Apr 15 90 put @ .53. Sold for 1.95 on 2/11.
$NUGT #ShortCalls #ScalpTrade – Sold…
$NUGT #ShortCalls #ScalpTrade – Sold NUGT Feb 19 2016 60 Calls @ 0.65 with the stock at 54.
These expire tomorrow
SPX roll
#SPXcampaign Although we barely notched above 1930, I am closing my lowest strikes call spread and #Rolling into an iron condor at the next expiration. This is to exit now rather than risk a push up to 1950, making things hairy.
BTC $SPX Feb 29th (monthly) 1950/1975 call spreads for 5.70. Sold for 1.45 on Feb 11th.
STO $SPX March 4th 1975/2000 call spreads for 4.00.
STO $SPX March 4th 1800/1775 put spreads for 1.45 (double position size)
$AMBA As I’ve said in…
$AMBA As I’ve said in the past, I’m under water in AMBA from put spreads gone bad. AMBA went down so far so fast rolling was not possible. I’ve been selling calls and fully intend to make money on this someday, right around the time our country has a balanced budget I suppose. I bought back Feb. 19. 44 calls for .12 that had been sold for 1.00 and sold Feb. 26, 46 calls for .37. I stayed short term because earnings are March 3, maybe catch a run up March 1 or 2 and go out further, maybe get burned. AMBA was over 44 yesterday.
#VXXGame STO UVXY March 4th…
#VXXGame STO UVXY March 4th 35 put for .87 (adding)
BTC UVXY March 4th 95 calls for .15. Sold for 1.05 on Feb 2nd
$SPX closing early
Closed $SPX iron condor Feb 26 2005/1995/1740/1730 for 0.30.
Originally had STO 10 days ago for 1.25.
I am starting to close positions early for good profit instead of trying to wring out every dime to expiration. That has gotten me in trouble in this volatile market so I will gladly take 76% max profit any time. This is working far better than trying to get to expiration date intact.
$AMZN is Prime!
Risky one day trade…STO AMZN Feb 19 540/545 BeCS for 0.80 when AMZN trading about 530.
I think it has met resistance at 540 and will continue down a while. Will certainly watch this closely and would close if debit was 1.20.
$NUGT #ShortCalls #ScalpTrade – Sold…
$NUGT #ShortCalls #ScalpTrade – Sold NUGT Feb 19 2016 58.0 Calls @ 0.55. This strike is above last Friday’s YTD High of 56.89 and the option expires tomorrow.
$NUGT adding in 3/11
I don’t have any positions on in 3/11 so I’m adding one, at the highest strike.
Sold $NUGT 3/11 75 call @ 2.20.
$QQQ biught diagonal, following Robyn…
$QQQ bought diagonal, following Robyn at TastyTrade sold March 18, 99 put, bought April 15, 99 put for .99.
DUST and UVXY mgt
BTC $DUST June 23 calls for .30. Sold for 1.75 on Feb 2nd
BTC $UVXY March 18th 105 call for .80. Sold for 4.05 on Feb 9th
PUT Diagonals IWM and SPY
Opened 2 Put Diagonals…BTO IWM Apr1 105.5 Put and STO IWM Mar18 96 Put for $5.16.
BTO SPY Apr1 199 Put and STO Mar 18 186 Put for $6.64
My stops will be if the SPX breaks above 1948….
#Markets TLT really spiking as…
#Markets TLT really spiking as SPX falls back.
JWN earnings
#Earnings Sold to Open $JWN Feb 19th 42.5/45/57.5/60 condors for .50. Max gain .50, max loss 2.00. Biggest UP move: 14.7% , Biggest DOWN move: -15.0% , Average move: 4.6% . Nordstrom’s has had these two large moves, but all other moves over the last 12 were under 6%. So I’m willing to go a bit inside the extremes, as the short strikes are 14% (puts) and 10% (calls) OTM. Stock rallied a bit since I got my fill, so you may want to skip the call side. But in any case, max loss is manageable.
Bot to close March 4, 1675/1700 bull put spread @0.25, sold at 1.25
#Panera ;>) My Wi-Fi is…
#Panera ;>) My Wi-Fi is down again, AT&T, so I’m sitting in Panera’s using theirs, having coffee and a Danish. Life is good. Good luck everybody. I’ll trade if an opportunity presents itself. $KMI still moving. Will it hit 16.0 again? Maybe. If not, I’ll roll up and out, my 2/26/16, 16.50 Calls.
EQIX earnings
#Earnings A bit of a crazy fill I got on this.
Sold to Open $EQIX Feb 19th 240/260/320/340 iron condors for 1.80. The long strikes are illiquid, so the fills were at the ask where there is no current bid, as follows:
240 long put 1.57
260 short put -2.61
320 short call -3.77
340 long call 3.01
If I try to sell the 320 naked, even at 3.20 I get no fill; so the 3.77 is due to the spread only. If you’re interested, might be worth watching during the day. But the short strikes are outside normal earnings moves. I added longs due to market environment and recent slaps from naked earnings plays.
Over the last 12 earnings, Biggest UP move: 7.8%, Biggest DOWN move: -3.7% , Average move: 2.9%. These strikes are both about 10.3% OTM.
$SPY #ironcondor Closed Feb 26…
$SPY #ironcondor Closed Feb 26 197/200/177/174 for .39, originally sold for 1.30
DATA dump
#Earnings STC DATA stock for 41.78. Had a trailing stop from yesterday’s rise. Leaves me with only a small part of my original trade, which was put assignment at 62. This and NOW are ones which I’m taking some losses and not waiting out, due to uncertainty with the companies and the overall market.
$AMZN bear call spread
$AMZN at resistance at the 200 day and pulling back.
STO Mar 18 600/610 BeCS for 0.88
If AMZN closes above the 200, then I’ll be out of this trade.
#Gold $NUGT
Watching market today to see how these react on a potentially down day. Gold stabilized above $1200 and I want to see if people rush back to gold again if the market shows weakness.
$SPX Earlier spike in futures…
$SPX Earlier spike in futures was sold. now opening almost flat
Resistance Levels for Feb 18, 2016
1930 – 1935; 1945-49; 1958-61; 1972 and then 2010.44 2028.38 and 2047-53;
Levels to watch are the resistance at 1947.20 which was the high of Feb 1st, and also the 1945-49 which falls on the triangle trend line and the 100% extension of a previous move (Low of 1/20 to high of 2/1).
Yesterday’s move was the expansion of the squeeze on a daily chart. According to theory the move could run from 6 to 8 bars following yesterday’s high. If this is the case the SPX could run up to the Dec Highs and beyond.
I believe that the 1945-49 level may hold the market for this week though…that an $10 will get you a starbucks latte…
Options Bistro 