$ETE BTO STOCK @7.04 To cover my short calls from this morning.
Daily Archives: Wednesday, February 24, 2016
$GMCR #ShortPuts – Bought to…
$GMCR #ShortPuts – Bought to close 1 GMCR Jun 17 2016 30.0 Put @ .01.
Originally sold in November at 1.38 (before the takeover offer)
$NUGT #ShortCalls #NewStrikes – sold…
$NUGT #ShortCalls #NewStrikes – sold these on the open this morning. The weekly sales are new strikes.
Sold 1 NUGT Mar 04 2016 82.0 Call @ 1.10
Sold 1 NUGT Mar 11 2016 80.0 Call @ 2.45
Sold 1 NUGT Mar 18 2016 80.0 Call @ 3.60
FB covered puts
#Earnings #ShortStock
BTC $FB Feb 26th 105 put for .50. Sold for 1.60 on 2/3. Clearing puts so I can release this short stock position at lower levels. I think FB will be fine in long run but expect another trip down to 90’s in coming weeks.
Earnings Trade
STO $LB 3/18 $75.5 Put for .63
Company has beat earnings estimates last nine quarters
Not a volatile stock so I may have to keep it until expiration.
5-hour spread closed
#SPXcampaign Bought to close $SPX Feb 26th 1850/1825 put spreads for .20. Sold this morning for 1.30.
NUGT tornado trades
#ContangoETFs STO NUGT March 11th 37 put for 1.20
STO NUGT March 11th 35 puts for 1.05
STO NUGT March 18th 30 puts for .80
$NUGT
The action in this thing is just crazy. Like trying to predict a tornado.
$AMBA bought back for .25…
$AMBA bought back for .25 the Feb. 26, 46 covered calls I sold last week for .37 which were a roll from Feb. 19, 44 calls that I sold for 1.00, which were rolled up and out to the .37. AMBA
earnings are next week, if there is justice in this world AMBA will kill and shoot up to about 80.
SPX call spread
#SPXcampaign Sold to Open $SPX Mar 24th 2025/2050 call spreads for 1.60, with SPX at 1910.
STC XOP Apr 2nd 27.5…
STC XOP Apr 2nd 27.5 Put for $4.02 Bough for $3.29, since the crude seems to be moving higher now.
Apparently a report that Shell is closing their shale production in the US caused the stir.
So now I’m short the Mar 18 23.5 Puts.
TRADES:
ETE
ETE STO 2/26/16 6.0 PUTS @.22
ETE STO 2/26/16 7.0 CALLS @.20 A 2.5 day, margin economical trade. ;>)
Got beaten up a bit this morning in NUGT ;>( , so I thought I would try a different stock.
Are SPX Dailys next?
#SPXcampaign I have joked for awhile that with the advent of weeklys we would eventually see “Dailys”, where stocks like AAPL and SPY and indices like SPX will have different options series expiring EVERY trading day. Well, it looks like we’re getting closer to that craziness…. (thanks to @alsumde for bringing this to my attention):
Extended Listings For Equity, ETF, ETN And Index Weeklys Options. Check Wednesday rule starting on 2/23/2016
In January 2014 CBOE issued Regulatory Circular RG14-010 re: “Expansion of Number of Expirations Listed in S&P 500 Index Weeklys Options (SPXW).” The circular provides that CBOE will list out and maintain six consecutive SPXW expirations at once, not counting the current expiration.
SPX Weeklys options (part of SPXW) are options that are listed to provide expiration opportunities every week. SPX Weeklys expiring at the end of each week (End of Week – EOW) are typically listed on Thursdays and expire on Fridays. As of February 23, 2016, CBOE began offering Wednesday Weeklys (also part of SPXW), which are typically listed on Tuesdays and expire the following Wednesday. (Note that EOW Weeklys or Wednesday Weeklys are not listed if either would correspond with a currently listed option, i.e. regular 3rd Friday or SPX End of Month – EOM options).
SPX Weeklys are PM-settled on the last trading day, typically a Friday for SPX EOW Weeklys, or a Wednesday for SPX Wednesday Weeklys. As with other PM-settled index options, the exercise-settlement value is calculated using the last (closing) reported sales price in the primary market of each component stock. On the last trading day, trading in expiring SPX Weeklys closes at 3:00 p.m. (Chicago time). All non-expiring SPX Weeklys continue to trade until 3:15 p.m. (Chicago time). For standard PM-settled, S&P 500 options that expire on 3rd Fridays, see ticker SPXPM.
These options are already tradeable at Interactive Brokers. They will be nice to use for rolls or occasional short-term spreads. This morning I sold the 1850/1825 spread for 1.35… got up toward 2.00, now is only .70. With the Wednesday options, there will be more opportunities for short-termers in these volatile markets.
BIB stock
Messing around again trading around a core position. This thing almost always bounces if it sells off at the open. In at 39.25 and 38.25 this morning. Out now at 39.80 for a scalp.
$SPY #ironcondor STO March 11…
$SPY #ironcondor STO March 11 183/179/195/198 for 1.26. The trade has been on all morning, just filled on the way up. I’ll be a little concerned with the short 195 call but these are easy to roll.
NUGT call spreads…question
Currently short June 50/70 bear call spreads. Sitting here looking at the long 70’s and seeing a bunch of 10 bagger gains….(of course the 50’s are bigger losers). Running the analyze tab on TOS the account could easily handle NUGT at 100 with all of the short calls naked so with that in mind…
Should I:
1. Do nothing
2. Book half the long 70’s
3. Book all the long 70’s
4. Book the longs and roll the short 50’s out and up
5. Some combo of all of the above
What would you guys (gals) do?
EDIT…could roll the short 50’s to Sep 60 or Jan 80 for even.
$SPY March 31 (Thursday) BuPS…
$SPY March 31 (Thursday) BuPS 182/177 for 1.00
PNRA put
#Earnings STO PNRA March 18th 190 put for 1.50. Partially offsets my 210 calls. Squeezing a bit of premium out of this one after taking a small loss on an earnings play. It seems to be hitting resistance but also has remained resilient through market turmoil.
UVXY nibbles
#VXXGame STO $UVXY Feb 26th 60 call for .30
STO UVXY Feb 26th 58 calls for .35
STO UVXY March 4th 70 calls for .63
SPX same week puts
#SPXcampaign Sold to Open $SPX Feb 26th 1850/1825 put spreads for 1.30, with SPX at 1899. These expire Friday.
SPX Support Levels
GM. Today’s support levels for the SPX are the same as yesterday’s.
1930-28; K-Node at 1917-20; top of gap at 1896-1900; 1894-95 and 1860-62.
#Gold $NUGT
With Gold looking like it is on the next leg of a break out. I’m going to be reducing short calls today and adding more short puts. $GDX and $NUGT very strong right now. Reducing overall delta and just getting out of the way for the time being and will look for opportunities to re-enter trades at a later time.
SPX pre-market close
#SPXcampaign In pre-market fill, bought to close $SPX Feb 26th 1980/2005 call spreads for .20. Sold for 1.35 on Feb 10th.
Like clockwork…
SPX resistance at 1950 and VIX support at 19.20 both held like clockwork and markets start tumbling again. TLT resuming its uptrend, and Gold also spiking again, with NUGT hitting its highest level since July 2015 at the open. Trade safe!
Options Bistro 