Apr 1 SPY 192 Call / Mar 18 SPY 202 Call for a $7.13 Dbt.
Monthly Archives: March 2016
SPX puts closed
#SPXcampaign Bought to close $SPX March 24th 1750/1725 put spreads for .20. Sold for 1.35 on 2/23.
SVXY covered call
Adding slowly. I have a big long position that I will cover incrementally if we continue up.
Sold $SVXY Jun 17 65 call @ 1.40.
Diagonalizing
#LongCalls #Diagonals Selling some shorter term calls against my TLT long calls (thanks @prvtrader for the idea).
Against long March 18th 130 calls, STO TLT March 11th 131 calls for .60
Against long April 15th 133 calls, STO TLT March 18th 132 calls for .68
Took only partial position at this point, will sell more or higher strikes if TLT continues rally.
Divergences or convergences?
TLT rallying… so market should be weak…
But transports are strong, even with down-market.
Gold/Silver rallying big.
NUGT rolls
Executed the following:
Rolled $NUGT Mar 18 45 calls out to Apr 15 45 calls for 2.00 credit
Rolled $NUGT Mar 18 48 calls out to Apr 15 48 calls for 3.20 credit
Rolled $NUGT Mar 18 52 call out to Apr 15 52 call for 3.10 credit
Rolled $NUGT Mar 18 60 call up and out to Apr 8 (weekly) 63 call for 2.13 credit
GOOGL, I sold one contract of the 500 puts in January @9.10
OIL purchase
Bought a few shares of OIL at $5.05 this morning. It is on daily squeeze and trying to break to the upside.
Searching on Bistro
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$VXX
BTC Apr 15 $51 calls @ $0.05, sold for $1.40
AVGO earnings
#Earnings… This is what I wrote on December 2nd on $AVGO’s last earnings:
… this one almost never moves down on earnings. You have to go back to Dec 2010 for its only significant down move, -6.5%.
AVGO moved up 9.5% the next day, so enough said:
Sold to Open AVGO March 4th 125/115 put spreads for 1.00. Last 12 reports, Biggest UP move: 14.7% , Biggest DOWN move: -0.2% , Average move: 6.5% . Short strike is 8.1% OTM.
SPX put spread
#SPXcampaign Sold to Open $SPX April 1st 1850/1825 put spreads for 2.00. Slightly more aggressive than usual since I’m treating as a partial roll from stopped call spreads.
Gold
Looks to be breaking out above $1250
$NUGT
STO 2 Mar 4 $65 calls @ $0.45 expire tomorrow
This might me pushing my luck a little, but went very small. Looking to sell 2 $50 puts to offset as stock is trading almost right in the middle of that range.
Support & Resistance for Thu Mar 3, 2016
Resistance: 1984-86;2010-12; 2023-25; 2030-32; 2050-54;2065-66, 2081-83
Support: 1961-59; 1950-48; 1932-30; 1915-14; 1895-93; 1875-73
Market may thread water to wait for the Jobs Report tomorrow, unless it doesn’t…
$GDX
Guy and Pete on fast money both recommended Gold miners ($NEM and $ABX) as their final trade, so watch for a higher open just from people reacting to that.
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…
AMZN Covered Call
Sold $AMZN Apr 15 650 call @ 2.55
#Gold $NUGT
Impressive that even on a big up day in the market, $DXY and UUP are higher, yet gold is barely down on the day. There is a pretty impressive bid and continues to make higher low’s.
SPX calls stopped
#SPXcampaign BTC $SPX March 4th 1980/2005 call spreads for 7.40. Will implement rolls in the coming days.
Covered Calls on SVXY
It’s about time we can sell some calls on this.
Sold $SVXY Jun 17 53.00 call @ 1.30
Call spread in SPX for…
Call spread in SPX for the April monthly series
Sold $SPX 4/15 2095/2120 call spreads for 1.40 with SPX at 1973. Short strike is around 1 standard deviation (=2090). Another 120 points in the S&P would bring us right back up to the early Dec highs.
SOME TRADES: Decided I was…
SOME TRADES: Decided I was too far out in time with some of my trades, so I closed them to release some buying power, although it didn’t release as much as I thought it would, and do some front week trades, and 2nd week trades. All trades were profitable, some more than others.
$UVXY BTC 3/18/16 75.0 CALLS @.27
$UVXY BTC 3/24/16 25.0 PUTS @.42
$NUGT BTC 3/18/18 80.0 CALLS @1.65
$NUGT BTC 3/18/16 30.0 PUTS @.52
$DUST STO 3/11/16 5.0 CALLS @.32
$DUST STO 3/11/16 4.5 PUTS @.40
SPX put spreads
#SPXcampaign #Rolling Selling the other half of my roll; closed 1960-1985 call spread last week for 7.70. Sold new call spread earlier today for 5.50, selling this one, double-size, for 1.30; so netting additional .40 on the roll (added to the 1.25 initial spread was sold for).
STO $SPX March 24th 1825/1800 put spreads for 1.30.
Also need to stop out of the March 4th 1980/2005 call spread… ripped past my stop point while I was away from the desk this morning. Been closing and rolling anything that gets within 20-points.
TZA closed out
#ContangoETFs Since these positions are all doing pretty well, I’m closing down my entire TZA position to clear margin. All of these are at a profit (except for puts), but the expensive ones were sold as rolls, so overall positions are less profitable. I will look to sell calls again on this in subsequent spikes.
BTC TZA March 18th 80 calls for .18. Sold for 7.15
BTC TZA March 18th 50 calls for 4.30. Sold for 20.60
BTC TZA April 15th 85 calls for .60. Sold for 5.05
BTC TZA July 85 calls for 3.20. Sold for 5.90
BTC TZA Jan ’17 80 call for 7.60. Sold for 14.00
BTC TZA March 18th 50 puts for 1.24. Sold for 1.00.
SPX Rally
SPX hitting resistance now at 1971.66…This is a critical resistance level since it is a K-Node from several different retracements and extensions.
ZSL closed out
#ContangoETFs Closing out my last remaining positions in $ZSL to clear out margin. First time I’ve had no position in this name in years, but since the split it has been pretty boring.
BTC ZSL May 40 puts for 1.00. Sold for 1.30 on Dec 4th
BTC ZSL May 80 call for .60. Sold for 3.00 on Dec 30th
BTC ZSL May 82.5 calls for .55. Sold for 2.30 (effective price) on Nov 4th.
UVXY mgt
#VXXGame #Rolling First time I’m having to roll ATM short puts in about a year.
BTC UVXY March 4th 35 puts for 1.70.
BTC UVXY March 11th 35 puts for 2.84
Replaced all of the above with enough contracts of the following to net a credit…
STO UVXY April 15th 24/75 strangles for 2.52
Also:
BTC UVXY March 11th 75 calls for .07. Sold for .55 on Feb 23rd
BTC UVXY March 18th 80 call for .22. Sold for 4.40 on Dec 3rd
SPX Call Spread
STO Mar 11 2020/2030 for 1.10
NUGT puts
Selling puts to offset all the short call exposure.
Sold $NUGT Mar 18 35 puts @ 1.00.
AZO earnings closed
#Earnings Bought to close $AZO 710/850 strangles for 1.85. Sold yesterday for 5.00. Would have preferred to hold on, but it was using 15K in margin that I need to manage the SPX uptrend.
SPX call spreads
#SPXcampaign This is probably the last time I can sell call spreads on this trend. I will start to have a lot of stop-outs if we continue toward 2000. VIX hits a new 2016 low and heading toward the key 16.93 level.
STO $SPX March 17th 2005/2030 calls for 5.50, as a roll from spread stopped last week.
STO $SPX April 1st 2070/2095 calls for 1.25.
@Jeff — $TLT calls What…
@Jeff — $TLT calls
What are you doing with your TLT calls with this pull back?
$CAT In July I entered…
$CAT In July I entered into a couple January CAT BuPS 65/60. In January I rolled them to March 67.50/60 for a credit. I closed them today, actually made $60. I left some on the table but this is the first day this trade has been profitable.
$AAPL #butterfly followed Tony at…
$AAPL #butterfly followed Tony at Tasty on a March 18 call butterfly sold 2, 100 calls, bought a 98 and a 102 for a cost of 36. According to him, this is a winner if the price is between 98.36 and 101.64
Squeeze Trade…
BTO Mar 18 AAPL 95 Calls for $3.50 dbt.
There is a squeeze in AAPL daily chart, and it looks like it is breaking to the upside.
$NUGT
STO Mar 4 $70 calls @ $1.00 followed Jeff
STO Mar 25 $28 puts @ $0.45
SPX – completing iron condor
STO Mar 24 1820/1810 BuPS for 0.95 which completes IC for this expiration.
Already had 2040/2050 BeCS for .70. Total of 1.65 for this IC.
NUGT puts
#ContangoETFs Scaling into several short-term puts which are all margin free (offsetting calls)
STO NUGT March 4th 47 puts for .75
STO NUGT March 11th 40 puts for .75
Support & Resistance for Super Tuesday
Resistance 1960-62; 1971-73; 1975-78; 1984-85; 2010-12;2023-25
Support: 1900-04; 1885-87; 1865-69.
Same as yesterday….
Options Bistro 