The last few weeks I’ve rolled these out and up. With the market up at resistance I’m going out but not up this week.
Rolled SVXY 50 strike covered calls out to next week for 1.30 credit. Wouldn’t mind this thing sitting at 50 forever. This roll is about 145 percent annualized. (basis now 46.70)
🙂
SPX is hitting strong resistance at 2080ish. Yesterday’s high of 2087.84 happens to be the 100% extension of two previous up moves….Next Resistance is at 2098-2101 level.
Main Support is at 2000 and at 1980-82
$IBM A story from MarketWatch about IBM reporting on Monday. Says the stock has decreased the day after on 9 of the last 10 earnings reports.
http://www.marketwatch.com/story/what-to-expect-from-ibm-earnings-2016-04-14
edited
Sold $NUGT Apr 22 90 call @ 1.60. Premium is better now. May add at a higher strike if this thing keeps running.
#ContangoETFs Bought to close NUGT Apr 15th 72 put for .25 to avoid possible assignment. Sold for 1.25 earlier this week. Now, about those 72 (and 75) calls…
#SPXcampaign On the spike down this morning, Bought to close $SPX Apr 22 2100/2125 call spreads for 3.00. Sold for 2.50 on March 24th. Only a small loss, but since my 2080 stop level has been hit, need to clear the way for the freight train going north. A slow train can kill you as much as a fast one if you’re just lying on the tracks… might even be worse; a slow painful crushing rather than a quick death.
A TRADE: @Ramie Thanks for the idea.
$NUGT STO 4/29/16 55.0 PUTS @1.70 Against my 9/20/16 105.0 short Calls
MCD earnings on 4/22.
STO 132/130/125/123 IC for 1.10, when MCD at 127.70. Expect to close this before earnings. Max loss .90, but I expect MCD to stay in this range up to earnings.
GM
#SPXcampaign Sold to Open $SPX May 6th 2025/2000 put spreads for 3.10. A #ReverseRoll to partially replaced call spread stopped this morning.
Sold to Open $SPX May 13th 1960/1935 put spreads for 1.35, with SPX at 2080.
$XOP #ShortCalls – Bought to cover XOP Apr 15 2016 32.5 Calls @ 0.25 to avoid possible assignment tonight. Made a little as it was sold for 0.35.
#Earnings At the open, sold to close $DAL April 15th 47/49/50 broken-wing butterfly for 1.40 and 1.50. Two more spreads closed… waiting until after noon to close the remainder. I should be able to close these for 1.90 if we end the day near 49.00. Bought for .70 on Wednesday.
#SPXcampaign Yesterday, Sold to Open June 16th 1900/1875 put spreads for 2.00. I realized I sold a call spread weeks ago (2175/2200) in this expiry so a put spread would be margin free.
In today’s pre-market, Bought to close $SPX May 6th 2100/2125 call spread for 8.00. Sold for 5.00 on April 3rd (as a roll). Will look at add more rolls soon.
This one was so underwater most of this week, that I felt fortunate to get out at a (small) profit. Didn’t want to chance another spike tomorrow with this option expiring.
Bought to close $NUGT 4/15 75 calls @ 1.05. Sold for 1.20 on on 4/6.
$NUGT testing support @71.50.
$UVXY #ShortPuts #VXXGame – Sold UVXY Apr 29 2016 14.5 Puts @ 0.36 replacing the April strike 18 puts I just covered
$UVXY #ShortPuts #VXXGame – Bought to close UVXY Apr 15 2016 18.0 Puts @ 0.30. These expire tomorrow and are currently out of the money but I don’t trust the stock to stay here for another 24 hours.
Originally sold @ 0.47, so a bit of a gain.
And these were in the money just an hour ago.
Rolled April 22 $70 short puts to qty 2 May 6 $115/$52 strangles for $.40 credit
Here is a link from TT on strangles since earnings season is underway.
https://www.tastytrade.com/tt/daily_recaps/2016-04-11/episodes/strangles-with-protection-04-11-2016
$NUGT #ShortPuts – Sold NUGT APR 22 2016 49.5 Puts @ 0.35 – these expire next Friday
#ContangoETFs Nice pullback… although now some puts going ITM!!!
STO May 6th 50 put for 1.50
STO April 29th 50 put for 1.00
Sold $NUGT Apr 29 55 put @ 1.80
$NUGT #ShortPuts – Sold NUGT APR 22 2016 51.0 Puts @ 0.35 – these expire next Friday
$NUGT #ShortCalls #Rollup – rolled up the only in the money NUGT calls left for this week for a small credit.
Bought to close NUGT Apr 15 2016 46.0 Calls @ 28.85
Sold NUGT Jun 17 2016 51.0 Call @ 28.90
A tough trade to get off but at least I added 5 points to the strike price.
NUGT #ShortCalls – got an early assignment on some NUGT April 47 calls. Since Ameritrade has no stock to borrow, I covered the short at 77.30.
To offset the pain a bit I sold the following after the short stock was gone –
Sold NUGT Apr 15 2016 88.0 Calls @ 0.30 – these expire tomorrow
Sold NUGT Apr 22 2016 100.0 Calls @ 1.10 – these expire next week
#SPXcampaign In pre-market, bought to close $SPX Apr 29th 1910/1885 put spreads for .20. Sold for 1.40 on March 22.
#Earnings Delta Airlines’ earnings are in, and the stock is up as expected. I will be looking for this to settle in at 49.00 at Friday’s close. I will be putting some close orders in after the open today to take profits if they become available before Friday. I’ll list those orders as a comment below this post.
The earlier news on $FB was an error…. great buying opportunity!
STO May 20 2170/2160/1920/1910 for 1.25.
$NUGT #ShortPuts – Sold all the following for next week.. If I have to cover them or roll them, that would be a good problem to have.
Sold NUGT Apr 22 2016 55.0 Puts @ 0.42
Sold NUGT Apr 22 2016 54.0 Puts @ 0.35
Sold NUGT Apr 22 2016 53.0 Puts @ 0.35
Following Ramie.
BTC June $80 calls @ $.41, sold for $13.00
BTC June $85 calls @ $.37, sold for $14.00
BTC June $100 call @ $.27, sold for $11.00
BTC June $105 call @ $.21, sold for $10.00
BTC Jan’17 $170 call @ $1.67, sold for $9.70 (was early on this one so didn’t get great premium)
Duty calls….back to the old salt mine. Have a great day everyone. JFK-MIA…hopefully they leave me alone tomorrow!
$NUGT New low of day, 79.10.
From Bridget at OMM:
@mirony $FB one of our old members JeffCP was great at those OTM selling option before earnings trades. I learned a lot from him, sad he’s no longer with OMM.
$RRC #ShortPuts – Bought to close RRC Jun 17 2016 17.50 Puts @ 0.03.
Originally sold at 1.20 when oil was crashing.
#SPXcampaign Sold to open $SPX May 13th 2125/2150 for 1.25, with SPX at 2078. Is there no limit to this rally? New 2016 highs reached today.
#VXXGame Taking a cue from @Ramie today; clearing out most long-term and a few short-term…
BTC Apr 29th 33.5 calls for .30. Sold for 1.90 on 3/17/16
BTC May 6th 32.5 call for .52. Sold for 2.85 on 3/24/16
BTC May 20th 50 call for .35. Sold for 1.98 on 3/24/16
BTC Jan 2017 80 call for 3.40. Sold for 15.45 last August
BTC Jan 2017 170 call for 1.75. Sold for 7.45 on 1/7/16
BTC Jan 2018 85 call for 4.90. Sold for 24.00 on 1/13/16
STO May 13 FB 105/101 BuPS for $1.18
We’ll bail if FB reaches 105
$AAPL STO April 29 115/120 BeCS for 1.21. AAPL has been rallying, I’m planning on it backing off just like in early April. Earnings are before expiration, I intend to be out before earnings. It’s kind of a risky trade.
Just a little quickie when the VIX dropped below 14…
Bought May futures at 17.55 and sold at 17.75. Sweet little 20 tick winner.
#SPXcampaign Bought to close $SPX Apr 20th (Wednesday) 1980/1955 put spreads for .20. Sold for 1.90 on April 5th.
One report of CLSA commenting on Facebook ad spending dropping .
Is there news on FB? Dumping.
I’ve been very quiet because we are getting in the earnings period and squeezes don’t work very well. So from now until the end of the earnings period, I’ll be just looking at ETFs.
If I would have been paying attention, I would have been able to catch the NUGT move up…it was on a squeeze for a while. Well next time.
Taking off a few positions to reduce exposure. I still have relatively large positions in out of the money calls in January, which I will continue to pare back into market strength.
Bought to close:
$UVXY Jan 20 2017 170 call @ 1.74. Sold for 15.25 on 1/15/16.
$UVXY Jan 20 2017 115 call @ 2.55. Sold for 33.00 on 8/27/15.
$VXX Jan 20 2017 66 call @ .54. Sold for 7.00 on 12/31/14.
#Earnings Considering an earnings trade on DAL. It has moved up on the last 13 report, an average of 4% (one day after report). A bullish ATM credit spread could work, for perhaps a butterfly centered at 49, where there is huge open interest. A 4% move from here would put as at 49.50.
BTC May 13 $120 call @ $3.80, broke even, sold yesterday. Decided I was too early so took it off.
STO Apr 22 $60 puts @ $1.10, have enough short calls next week, I’ve been able to put on a number of additional put sales with no effect on Buying Power.
#SPXcampaign In pre-market, Bought to Close $SPX Apr 29th 1880/1855 put spreads for .20. Sold for 1.35 on Mar 29th.
Rolled April 600 covered call up and out to May 650 for 5.00 credit.
#Rolling
Sold $NUGT Apr 22 65 put @ 1.70
Looks like we are finally going to get a pull back today. Yea!
$NUGT #ShortCalls #Rollup – to relieve some margin pressure
Bought to close NUGT JUN 17 2016 72.0 Calls @ 25.83
Sold NUGT SEP 16 2016 90.0 Calls @26.19 – an 18 point bump in the strike price plus a 0.36 credit.
#SPXcampaign Sold to Open $SPX Apr 22nd 2000/1975 put spreads for 1.60. This is an extra spread since my first two spreads for this expiry were previously closed with profits.
#ContangoETFs #ReverseRoll Taking a cue from @fuzzballl here…
BTC NUGT May 6th 105 call for 6.00
STO NUGT May 20th 55 puts (x2) for 3.00
SPX May16 2150 / 2170 Call for $1.00 when SPX @ 2059
Bought to Close 1 NUGT MAY 20 2016 95.0 Call @ 10.82
Sold 2 NUGT MAY 20 2016 65.0 Puts @ 6.16
Reverse roll 1 for 2 for a 1.50 net credit…reducing deltas slightly but would still like this thing lower.
Added one more:
Sold NUGT APR 22 2016 70.0 Put @ 3.10
$SVXY #ShortPuts #VXXGame – Sold SVXY MAY 13 2016 35.0 Puts @ 0.90. Paired with a short Jun 55 call position, creating a 20 point strangle.
$NUGT $GDX $NEM – GDX is influenced by what NEM is doing, and NUGT is obviously influenced by what GDX is doing.
So … NEM is falling hard …. just sayin’
After dumping ZSL completely and scaling back on KOLD, NUGT became my favorite son, but I got a bit too deep in the calls. Plus my broker turned up to 11 the margin pressure on these overnight, so I had to dump four under water calls at losses. #ContangoETFs
Example, BTC Apr 29th 105 call for 3.60 released $7K in margin.
Also BTC Apr 8th 85 call for 5.00
BTC Apr 15th 80 call for 7.50
BTC Apr 29th 100 call for 4.40
Total losses only $1K as these were sold for decent premium. Easy to start building back with puts, which also reduce the margin.
STO May 6th 55 put for 2.00
STO Apr 22nd 70 put for 3.30
New May strikes up to $120
VIX Indicator… Jeff would appreciate if you would explain how the Tuesday levels are 19.20 and 19.50 as I thought it was 25% above previous days close.
Bought to Close NUGT APR 15 2016 50.0 Puts @ .05 (sold for 2.40)
NUGT #ShortCalls – sold these at the close even though the rally may not be over
Sold 1 NUGT Apr 15 2016 85.0 Call @ 5.50
Sold 1 NUGT Apr 22 2016 95.0 Call @ 4.61
#SPXcampaign – missed this fill from the first hour of trading: Bought to close $SPX Apr 22nd 1910/1885 put spreads for .20. Sold for 1.40 on Mar 22nd.
#SPXcampaign Sold to Open $SPX May 13th 1890/1865 put spreads for 1.40. Sold calls at the open and puts at the close.
STO May 20 $20/25 BUPS
Sold April 29th 40 Put @ 0.85 This replaces the position coming off Friday.
Sold 1 NUGT APR 22 2016 70.0 Put @ 3.06
This is against 2 short 75 calls so I’ll be glad to have to roll this out and down to May. That would re-pair it with short 95 calls…
Bought to close NUGT MAY 20 2016 35.0 Puts @ .40 (sold for 1.85)
Hoping for a chance to re-sell at some point (possibly slightly higher strikes)
I’m liking the ways these have worked for me thus far with good credits and defined risk.
STO Apr 27 2065/2070/2080 for 2.10 credit.
Max loss 2.90. Potential max profit of 7.10 if it closes at 2070.
Breakeven at 2077.10.
$SVXY #CoveredCalls #VXXGame – Finally strike prices well above my cost basis have enough premium.
Sold SVXY Jun 17 2016 61.0 Calls @ 1.40
Sold SVXY Sep 16 2016 70.0 Calls @ 1.75
Sold SVXY Sep 16 2016 75.0 Calls @ 1.05
Closed the short NUGT Call for $7.20 and sold it for $3.80…That is a $3.40 loss…”Not Cool”
#ContangoETFs I was too early on these, as is too often the case. Need to pace myself!
STO NUGT Apr 15th 85 call for 2.05
STO NUGT Apr 29th 100 call for 2.90
STO NUGT May 6th 105 call for 3.20
STO NUGT May 13th 105 call for 3.50
Options Bistro 