$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.
Monthly Archives: February 2016
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!
#VXXGame trades at the close…
#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
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.
OptionsBistro available on mobile phones or tablets…
Just add the WordPress app to your mobile device! #Welcome
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.
SVXY
Busy all day today…did manage to sell some covered calls in the #IRA ….
Sold SVXY MAR 18 2016 40.0 Calls @ 1.50
$YHOO #ironcondor followed from tastytrade…
$YHOO #ironcondor followed from tastytrade STO April 15, 27/24/33/36 for 1.08
$UVXY Feb. 26, 36/30 BuPS for .94. The 30 is a margin saver, I’ll own it down here if it doesn’t work out.
A SHORT STRANGLE:
$DUST STO 3/24/16 4.50 PUTS @.65
$DUST STO 3/24/16 6.50 CALLS @.40
Stock hasn’t been 4.50 since Oct. 2013. Will either buy the stock if call go ITM, or roll it out and up. We’ll see.
Building my Options expiration list for 3/24. ;>)
XOP Bearish Diagonal.
STO Mar 18 23.5 Put and BTO Apr 2nd 27.5 Put Total debit of $2.48 pp
UVXY roll
#VXXGame I have a put spread in a smaller account, so before it gets ATM I wanted to roll, since spreads are harder to roll than naked:
BTC $UVXY March 18th 35/33 put spread for 1.05. Sold for .52 on Feb 12th
STO UVXY April 1st 30/28 put spread for .77.
Plan to make it an iron condor once we get some upside.
#Gold $GDX
Definitely diverging today. Gold is down $20 from 4pm on friday yet $GDX is actually up on the day.
$TLT #followed Jeff on the…
$TLT #followed Jeff on the March TLT
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY Apr 15 2016 50.0 Calls @ 0.45. Newest monthly cycle started today.
SPX BeCS
STO Apr 1 2050/2060 BeCS for 1.05
$UVXY #ShortPuts – Sold UVXY…
$UVXY #ShortPuts – Sold UVXY MAR 24 2016 23.0 Puts @ 0.27.
TRADES:
NUGT STO 3/11/16 75.0 CALLS @1.80 Followed Jeff, Thank you sir.
NUGT STO 3/24/16 75.0 CALLS @3.10
ETE BTC 2/26/16 8.0 CALLS @.30 STO @.34
ETE BTC 3/4/16 7.50 CALLS @.70 STO @.45
ETE BTC 3/4/16 4.50 PUTS @.12 STO @.55 Earnings after the bell, didn’t want to hold. Don’t need the drama.
The golden volatility cross
We’re here again. SVXY is back higher than UVXY.
And the futures are in contango for the first time in quite a while: vixcentral.com
$SVXY #CoveredCalls #VXXGame -adding to…
$SVXY #CoveredCalls #VXXGame -adding to my positions
Sold SVXY Jun 17 2016 60.0 Calls @ 0.50
Sold SVXY Sep 16 2016 60.0 Calls @ 1.75
Covered calls on WMT
Sold Mar 18 66.50 calls @ .70
$UVXY #ShortPuts – Sold UVXY…
$UVXY #ShortPuts – Sold UVXY MAR 18 2016 24.0 Puts @ 0.23.
Sorry, that was for April 1 expiration
$ETE #EARNINGS AMC
$ETE #EARNINGS AMC
SPX, sold to open 2035/2060 call spread for 3.30
$SPY STO April 1, 201/206…
$SPY STO April 1, 201/206 BeCS for .88
#coveredcalls re-upped on some covered…
#coveredcalls re-upped on some covered calls this morning.
USO March 18 9.50 @.33
HAL March 18 35 @ .35
SUNE April 15 3 @ .14 yes I’m stuck with some SUNE
DDD March 4 11 @ .30
DOW March 11 50 @ .41
would love to have to roll every one
#CoveredCalls – Using Market strength…
#CoveredCalls – Using Market strength to scalp some premium in stocks that I own or have short Puts in or both –
— Weeklys —
Sold BBY FEB 26 2016 33.5 Calls @ 0.22
Sold CVX FEB 26 2016 92.0 Calls @ 0.18
Sold JOY Feb 26 2016 14.0 Calls @ 0.12
Sold FB FEB 26 2016 111.0 Calls @ 0.23
— Monthlys —
Sold COG MAR 18 2016 25.0 Calls @ 0.40
Sold HP MAR 18 2016 60.0 Calls @ .85
Sold KATE Mar 18 2016 20.0 Calls @ 0.40
$SVXY #CoveredCalls #VXXGame – Finally…
$SVXY #CoveredCalls #VXXGame – Finally some decent premiums –
Sold SVXY Mar 18 2016 45.0 Calls @ 0.35
Sold SVXY(Weekly) Mar 24 2016 45.0 Calls @ 0.45
Sold SVXY Jun 17 2016 60.0 Calls @ 0.45
Sold SVXY Sep 16 2016 60.0 Calls @ 1.60
TLT long calls started
#LongCalls Opened new positions in March & April after doing well with long calls in Jan & Feb. I think this will continue higher and that rates still go lower.
BTO TLT March 18th 130 call for 2.40
BTO TLT April 15th 133 call for 1.95
I will add more, hopefully on pullbacks.
SPX and VIX levels
1950 a key level in SPX… not only a K-node for the Fib lines (Robert’s post below) but also the Feb 1st swing high. Also, VIX coming down to 19.20 level, which is the 100%-mark above Oct 28th low. This was support on Feb 1. If we can break these SPX and VIX levels decisively, it’s quite bullish.
PNRA calls
STO PNRA March 18th 210 calls for 3.20. Making up for some losses on the earnings play last week. Seems to be fairly murky getting through the 200-210 level, but only using half-position thus far. #Earnings
NUGT rolls
#ContangoETFs Slowly adding safer positions to make up for the 30-handle calls that ripped my face off.
STO $NUGT March 11th 75 calls for 1.80
$GDX
Rebounding even though Gold is weak, I suspect that the strength in $XME is flowing over to $GDX
oil is up 5
oil is up 5%
Jeff I am a astonished…
Jeff I am a astonished to see not many trading UVXY, any comment(s)
Options Bistro 