Guy and Pete on fast money both recommended Gold miners ($NEM and $ABX) as their final trade, so watch for a higher open just from people reacting to that.
Daily Archives: Wednesday, March 2, 2016
SPX call roll
#SPXcampaign 14 minutes after the bell, sold to open $SPX March 11th 2025/2050 call spreads for 2.25.
SPX same-day spread
#SPXcampaign Bought to close $SPX March 4th 1935/1910 put spreads for .40. Sold this morning for 1.60.
New low on VIX, touching…
New low on VIX, touching below 16.93 level intraday. Getting closer to an Upside Warning, but this could be the place where it bounces, too.
SPX put spreads
Bought to Close SPX APR 29 2016 1550/1525 Bull put spreads @ .35 (sold for 1.70)
AAPL trade
Yesterday I bought some AAPL calls to catch the squeeze expansion…I bought the 95, then an equal number of 98 and 102.
So today when the AAPL wasn’t moving higher I converted the position into a broken wing butterfly by selling one AAPL Mar 18 101 for $1.90 for every long option I had.
If all my long options’ strikes would have been below the 101 strike, this position would have been a regular vertical debit spread…however, since I have a higher strike options at 102, the position becomes a butterfly. What makes it a broken wing is that I have 2 options below the 101 strike for each option that I have above the 101 strike.
What that does to the position is that it caps the max profit but it also reduces my max loss to the cost of the position, and it doesn’t have any upside risk.
This position makes money as long as AAPL finishes above 98.44.
SOME TRADES:
$NUGT BTC 3/11/16 30.0 PUTS @.25
$NUGT BTC 3/24/16 30.0 PUTS @.50
$ETE STO 3/18/16 7.5 CALLS @.42
$ETE STO 3/18/16 6.5 PUTS @.30
$ETE STO 3/11/16 7.0 PUTS @.30 Will accept the shares if assigned.
Closing BeCS for loss…
It looks like we are going higher, so I closed 2 BeCS for a loss…Now I got to sell something to makeup the loss, but I won’t be doing any BeCS, so it’ll have to be something else.
AAPL puts
Sold Mar 18 94.00 put for 0.34. Willing to take the stock there, but doubt it will go there now.
DUST covered stock
Bought covered stock @ 3.62. (covered with March 4 calls) This gets me in below the all time low. Thought about selling puts instead but this will give me the option of rolling the calls out and up if it takes off. Weeklies available so a zero cost basis is the goal if we continue wallowing around down here…
$T – Put spread
$T is breaking upward, has good dividend payout to support it. Sold an interesting BuPS.
STO Apr 15 38/35 BuPS for 1.00 credit. Will take profits early if they come, but expect $T to push above 38 by expiration.
SPX puts closed
#SPXcampaign Bought to close $SPX March 11th 1840/1815 put spreads for .30. Sold for 1.70 on Monday.
SPX calls stopped
#SPXcampaign Bought to close $SPX March 11th 2000/2025 call spreads for 5.90. Sold for 1.30 on Feb 8th. Uptrend knocking’ down my spreads like dominos! Will work on rolls in coming days.
Also, earlier today, forgot to post
STO $SPX March 11th 1900/1875 put spreads for 1.80.
TOS high res…
Bored today so talking with the tech support guys…
12:52 fuzzball: Just bought a computer with a 3200×1800 resolution screen. Even with TOS set on “extra large” the platform is difficult to read. Any ideas?
12:54 Mark: Hello
12:54 fuzzball: Hello
12:55 Mark: Please check your Font size within TOS – go to Setup–>Application Settings–>Look and Feel.
13:00 fuzzball: Just checked…it’s set to “extra large” so nothing more available there. Only fix I’ve found is dumbing down my monitor to 1920X1080. Maybe something to look at in the next update. Would be awesome at high resolution to be crystal clear!
13:01 Mark: Thanks for the feedback. I know that our Developers are working on an update to utlize these higher resolution monitors
13:02 Mark: It is likely this will be implemented in the near future.
13:02 fuzzball: Awesome!
$VXX
BTC Mar 18 $40 calls @ $.04, sold for $1.40
NUGT calls
Adding one to even out the March 35/80 strangles…
Sold NUGT MAR 18 2016 80.0 Call @ 1.25
UVXY call spreads
Crazy week here away from the market but enjoying the volatility collapse!
Bought to Close UVXY MAR 4 2016 50/60 Bear call spreads @ .05 (sold for 1.20)
This was in an #IRA so frees up quite a bit of margin. Thinking about possibly using the extra margin to close the long side of some 35/32 bull put spreads. This would accomplish a couple things. The 35’s would then be much easier to roll out and down if needed and allow me to book a nice profit on the longs (a 3 bagger). Downside is UVXY could continue tanking but since I was gonna roll the spread anyway think I’ll book the long side.
employment report is this Friday
employment report is this Friday
$XLU
Getting hit hard this morning
$UVXY
STO Apr 1 $23 puts @ $0.50
SPX same week
#SPXcampaign Sold to Open $SPX March 4th 1935/1910 put spreads for 1.60. Playing it a bit close but strength seems to continue, so not expecting a collapse this week. Plan to be out of this today if the rally continues.
Support & Resistance Levels for Wed, Mar 3, 2016
Resistance hasn’t changed from yesterday’s number, except that the 1960 level was taken out by price.
Support 1959-61; 1950-47; 1930-26; 1914 and 1894 etc…
Options Bistro 