#VXXGame trades at the close
I put on the following trades at the highest strikes in expirations where I didn’t yet have any positions.
Sold $UVXY Apr 15 90 call @ 2.20
Sold $UVXY Apr 1 (weekly) 115 calls @ .70
Daily Archives: Tuesday, February 23, 2016
SWHC
Got called out of stock last Friday. Today taking another way and STO Mar 18 20.00 put for 0.25.
Would actually like to see it go there and buy the stock, but I’ll take the cash also any time and do it again next month if it looks good.
Gold
On daily chart, coming close to completing a wedge/flag for the last 8 or 9 day’s. Lower high’s, higher lows. Something likely to happen soon.
TRADES: @fuzzball Hey, you’re my…
TRADES: @fuzzball Hey, you’re my kind of guy, a gunslinger. ;>)
TRADES: @jeffcp66 KMI BTC 3/18/16…
TRADES: @jeffcp66
KMI BTC 3/18/16 17.5 CALLS @.92 STO @.97
NUGT STO 3/18/16 30.0 PUTS @.85
NUGT STO 3/24/16 30.0 PUTS @1.15 Thanks to Jeff. I had calls, so matched them with puts, for very little margin use.
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NUGT puts
#ContangoETFs Threw some out there as it has come down off its highs:
STO NUGT March 11th 35 puts for 1.10
STO NUGT March 18th 30 puts for .85
Each put I sell gives me a margin credit since I’m short so many calls. I will add more if premium rises. Need to be ready for a quick drop in NUGT but these are easy to roll or reverse-roll to calls once the inevitable down move begins.
$UVXY Yesterday I sold a…
$UVXY Yesterday I sold a feb. 26, 36/30 BuPS for .94, with today’s run up I bought back the 36 for .38 for a 1 day gain of .56
$SPY #ironcondor STO April 15 178/174/203/207 for 1.04
An open question on the UVXY trades.
The UVXY is the Pro-Shares Ultra VIX Short Term Futures ETF…so when the IV goes up it goes up.
So now that the market is going down, and VIX is goin up then the UVXY is moving higher.
But I see you guys selling BeCS on the UVXY.
Could some one tell me please why?
What is the reason for selling BeCS now when by waiting you may get a better price?
I’ve never traded this and would like to understand the reason for your trades.
Thanks,
TRADES:
KMI BTC 3/4/16 18.0 CALLS @.51 STO @.54
UVXY 3/11/16 55/75 BeCS @.98 Don’t usually do these, but wanted the experience. Pay to learn. Followed @fuzzballl? ;>) Thanks kid.
UVXY call spreads
Selling these against a chunk of 35 puts in same expiration…
Sold UVXY MAR 11 2016 55/75 Bear call spreads @ 1.10
and…turning this into a full position:
Sold UVXY JUN 17 2016 80/100 Bear call spreads @ 1.50 (sold as high as 3.00 a few days ago)
UVXY mgt
#VXXGame Closed down some winners so I could start new positions:
BTC UVXY March 18th 110 calls for .47. Sold for 2.90 in early Feb
BTC UVXY March 18th 120 call for .38. Sold for 2.60 on Jan 25th
BTC UVXY March 11th 90 call for .28. Sold for 2.50 on Feb 5th
and starting…
STO UVXY March 11th 75 calls for .55
$UVXY following vxxkelly in my…
$UVXY following vxxkelly in my spread way STO April 15 BuPS 24/18 for .92
$SPY #ironcondor closed March 4…
$SPY #ironcondor closed March 4 178/175/196/200 for .93, sold for 1.93. The calls had some room to run but closing a little early has been keeping me out of trouble
$GDX
Strong as death again today. Attempting to pull it back down.
STO Mar 4 $18 puts @ $0.33
I’m watching the SPX 1917-18…
I’m watching the SPX 1917-18 Level since it is a Fib K-Node plus it will close yesterday’s gap. That should hold the market for a bit…IMHO.
Sold to openSVXY, April 15, 30 put @1.50, I am replacing covered calls that I was assigned on.
consumer confidence number declined 5.6…
consumer confidence number declined 5.6 points to 92.2 in February, missing the consensus of 97.2
SPX puts sold
#SPXcampaign, showing down the gauntlet and selling a put spread, which will probably allow this market to start dropping precipitously. This is the first 5-week put spread I have sold in two weeks.
Sold to Open $SPX March 24th 1750/1725 for 1.35, with SPX at 1931.
FSLR earnings
#Earnings FSLR reports after the bell, but I’m not seeing enough premium for a safe neutral play. It has had fairly decent moves on earnings, meaning an iron butterfly would likely fail, but there isn’t enough premium in adequately far OTM strikes to sell a strangle or condor. Over the last 12 earnings, Biggest UP move: 17.6%, Biggest DOWN move: -13.8%, Average move: 10.2%. Staying outside its biggest move would mean you assume a Max Proj UP move to: 74.64, and a Max Proj DOWN move to: 52.36. Not enough premium for me so I’ll skip it. Would love to see anyone else’s ideas if they’re out there.
$UVXY
STO Apr 15 $23 puts @ $1.10
STO UVXY MAR4 16 (3/26/2016)…
STO UVXY MAR4 16 (3/26/2016) CALL @.60
STO UVXY MAR4 16 (3/26/2016)…
STO UVXY MAR4 16 (3/26/2016) 105 CALL @.57
TLT added
#LongCalls Added to the positions started yesterday:
BTO TLT March 18th 130 call for 1.75
BTO TLT April 15th 133 call for 1.48
$FSLR earnings after the close.
Any thoughts or plans for anyone on an earnings play? @Jeff, any numbers for expected move?
NUGT near-term
#ContangoETFs While volatility has relaxed, NUGT has replaced UVXY for same-week, far OTM call sales. Added some more:
STO NUGT Feb 26th 70 call for .50 (added)
STO NUGT Feb 26th 68 calls for .65
I’ll add another to each if they go up by a nickel.
$CMG
Quick, early profit. STO Mar 18 575/580 BeCS yesterday for 0.60
BTC today for 0.25 for a quick 58% of max profit in a day. This was the original plan to close for just over 50% max profit.
VIX levels
As I posted yesterday, VIX has reached support level of 19.20. Yesterday’s close was lowest in 2016 and the 6th straight day lower, which we hadn’t seen since the October rally. Today should be a key day.
$NUGT
STO Mar 11 $30 puts @ $0.50
SPX Support for Tue Feb 23, 2016
Support at 1894-95 and 1860-62 retracement from the 2/11 low to the 2/22 high.
There is also Support at 1928-1930; K-Node at 1917-20 and the top of the gap on 2/17 1896-1900.
Resistance levels are the same as yesterdays.
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