BTC SPX Apr 1 2090/2110 call spread for 0.50. Originally STO on 3/4 for 1.40.
64% of max profit. Freeing up some buying power.
Daily Archives: Tuesday, March 8, 2016
Closing some UVXY positions/Reducing short volatility exposure
Taking some #VXXGame trades off at over 95% max profit.
BTC $UVXY 3/18 110 call @ .02 Sold for 2.60 on 2/3
BTC $UVXY 3/24 80 call @ .14 Sold for 5.15 on 2/5
BTC $UVXY 3/24 95 call @ .08 Sold for 5.30 on 2/9
BTC $UVXY 3/24 105 call @ .06 Sold for 5.00 on 2/11
FB Diagonal going into Earnings.
FB earnings are 42 days from now. So to take advantage of the increase in IV I bought a Diagonal.
BTO Apr 22 FB 103 Call and STO Apr 1st FB 110 Call for $5.67
PNRA dumping
#Earnings BTC $PNRA March 18th 220 call for .80. Sold yesterday for 2.55. This one spiked then collapsed two days in a row. Maybe I can do this again before expiration.
Rolling trade on NOW
I am short the March 60 puts as a rollout from an earnings trade gone bad. I sold the March 55 and 60 calls to bring in premium. Both of those are in the money now, but the 55 call had very little time premium so I rolled it to April for 1.30 credit.
Still a lot of time value left in the remaining March positions (basically an at the money straddle right now) so I will wait to see which way the stock breaks to determine my next roll.
$XME, $GDX, #Gold
Even though gold is at the same price as yesterday $1266 +/-, the gold miners seem to be getting caught up in the $XME sell off today, so definitely diverging from gold today
#EDIT Hey, how do we…
#EDIT Hey, how do we edit a post, AGAIN? ;>)
AN EXPERIMENT: I usually don’t…
AN EXPERIMENT: I usually don’t do strikes close to stock price like this, but wanted to get a better “feel” for the stock, my paying to learn theory,
$NUGT STO 3-11 52.0 PUT @1.13. Just one. It’s also easy to roll out.
STO Apr 1st USO 10…
STO Apr 1st USO 10 Calls at $0.55; I have some Apr 1st 8.5 Puts so this closes the short strangle. I’ll buy stock if USO goes over 10.25 to cover.
DIGin out!
Yesterday BTO Mar 18 31/29 DIG put spread for 0.65. Out today for 1.20 credit.
Did that yesterday, sort of as a whim, something different. Took the risk for 0.65 and it paid handsomely in less than 24 hours. Whew! Not sure I should do that again. @prvtrader, I should probably not have done that and your warning was greatly appreciated. Probably shouldn’t trade options on a whim, but this time it worked quickly. Hope is not a trading strategy and whims probably shouldn’t be either. Need to remind myself of that more often, even though this time it worked.
UVXY call spreads
Just a starter…
Sold UVXY APR 15 2016 50/70 Bear call spreads @ 1.20
DUST covered stock
Added a little more…covered with next week’s 4’s @ 3.45
NUGT puts
#ContangoETFs STO NUGT March 18th 45 put for 1.40
STO NUGT April 15th 30 put for .85
SHAK up
Or more accurately, down after earnings.
Sold $SHAK Apr 15 32.50 puts @ 1.00.
SPX same week spread
#SPXcampaign Sold to Open $SPX March 11th 1935/1910 puts spreads for 1.50. Expire this Friday unless I close out on next rally up.
$NUGT
Looks like $NUGT discovered gravity this morning.
Support & Resistance for Tue, Mar 8th, 2016
Support:
1988 – 1990 Yesterday’s support
1974-78 (K-Node)
1953-59 (K-Node)
1933 (38.2% ret of rally)
1920 (161.8% of previous move down)
1909-10 (50% retracement of rally)
1886-90 (61.8% ret of rally)
Resistance:
2009-2010 (61.8% ret of last drop)
2020-2023 (78.6% ret of last drop)
2050-2055 (K-Node of several moves and ret)
2064-66 (78.6% ret of previous move down)
2080 – previous significant high.
- Ret – retracement.
K-Node is a level where several retracements lines and extensions converge.
Options Bistro 