#SPXcampaign Bought to close $SPX Apr 14th 2000/1975 puts for .75. Sold for 5.00 on March 23 (as a roll) Closed the roll portion, but still have some of these that were sold for 1.55. Will probably allow to expire or close for .20.
Sold to Open May 13th 2135/2160 call spreads for 1.30.
Monthly Archives: April 2016
NUGT higher strikes….
Added to May 6th and 13th… up to 105
The new Department of Labor Fiduciary Rule
This week, the Department of Labor finally released its new fiduciary rule, which requires investment advisers to put the interests of their clients ahead of those of themselves or the firms for which they work. On the surface this sounds good, and in its final form it may end up being good (no opinion here yet, I don’t know enough about all its ramifications), but the most interesting part from my perspective was the past 12 months of back and forth between the DOL and the financial industry (the OCC was a major force in this) about the proposals to restrict or eliminate trading of options in IRA accounts, restrict educational information from brokers/trading platforms, and prevent entertainment figures like Jim Cramer, Dave Ramsey and Suze Orman from offering specific recommendations or advice to their viewers and listeners.
The most important of the above concerns for me was the restrictions on IRA accounts and the industry responded in a very big way apparently, since the final DOL rule does not affect the ability to trade options (or futures) in IRA accounts. The final rule also spares the restrictions on entertainment personalities so I guess we will continue to hear “buy-buy-buy!” screaming from the TV, so that’s a comfort. There is also still some clarity that needs to be worked out on the issue of how much options education can be offered to IRA account holders by their brokers.
I don’t know if the financial industry won out on this issue because of the sheer weight of the groundswell, or because they were actually able to convince the DOL that many IRA account holders utilize options to reduce risk (covered calls, etc). From what I understand it is a bit of a surprise they ended up completely leaving this issue alone so either way score a victory for the industry in defending something worth defending. However it happened, I believe it ends up being a good thing for retirement account investors.
Some articles:
http://www.businesswire.com/news/home/20160406006592/en/OCC-Gratified-DOL-Fiduciary-Rule-Benefit-Users
http://www.reuters.com/article/us-usa-brokers-fiduciary-options-idUSKCN0X427F
Wall Street Dodged a Bullet on the Retirement Fiduciary Rule
There is also an article that summarizes the issue nicely on Barrons.com if you have access.
Options Expiration (Back in the…
Options Expiration (Back in the fray at reduced risk and hopefully some lessons learned)
$UVXY $22 C (covered)
$NFLX $105/110 BUPS
$SPX $2115/2010 BECS
$SPX $1925/1950 BUPS
$NUGT $66 P
Closed Early
$KOLD 5/20 $320 C Bought back @ $2 (Sold for $8.8)
$RLYP 4/15 $16 P Bought back @ $.1 (Sold for $$2)
Assigned
$NUGT $65 C
AAPL Put sold
STO AAPL 05/06/2016 102.00 Put Sold for $1.66 when APPL @108.2
#OptionsExpiration — a good week….
#OptionsExpiration — a good week.
Closed some spreads early for profit.
Today, AMZN broken wing butterfly expired. 595/597.5/605 call butterfly. Had 1.20 credit.
My GOOGL eyes expired at max profit. 780/775/755/750 IC for 1.15.
#OptionsExpiration for 4/8 Only 2…
#OptionsExpiration for 4/8
Only 2 expirations this week.
$NFLX 04/08/2016 115.00 calls
$NUGT 04/08/2016 100.00 calls
No assignments.
#OptionsExpiration – if it hadn’t…
#OptionsExpiration – if it hadn’t been for a late week sprike in $NUGT, it would have been a better week.
Still, a set of very large $SVXY Covered Calls expired and I have replaced a lot of them with weekly and monthly calls with much higher strike prices. Certainly easier then being forced to roll them.
— Expirations —
AAPL (Weekly) Apr 8 2016 111 Calls (Covered)
NUGT (Weekly) Apr 8 2016 30 Puts
NUGT (Weekly) Apr 8 2016 90 Calls
SVXY (Weekly) Apr 8 2016 49.5 Calls
SVXY (Weekly) Apr 8 2016 50 Calls
SVXY (Weekly) Apr 8 2016 51 Calls
SVXY (Weekly) Apr 8 2016 53 Calls
TWTR (Weekly) Apr 8 2016 18.5 Calls (Covered)
UVXY (Weekly) Apr 8 2016 18 Puts
UVXY (Weekly) Apr 8 2016 24 Calls (Covered)
UVXY (Weekly) Apr 8 2016 25 Calls
UVXY (Weekly) Apr 8 2016 26 Calls
— Assignments —
DUST (Weekly) Apr 8 2016 3 Puts
XOP (Weekly) Apr 8 2016 31 Calls (Covered) – exchanging stock for cash
$NUGT #ShortCalls #Rollup – two…
$NUGT #ShortCalls #Rollup – two rolls today for a couple of smallish positions –
Bought to close NUGT APR 8 2016 60.0 Calls @ 11.31
Sold NUGT MAY 6 2016 65.0 Calls @ 12.91 – added 5 points to the strike price plus 1.60 Credit
Bought to close NUGT APR 8 2016 53.0 Calls @ 18.66
Sold NUGT JUN 17 2016 65.0 Calls @ 18.90 – bumped the strike price up 12 points at a 0.24 Credit
#OptionsExpiration $UVXY $37 calls $NUGT…
$UVXY $37 calls
$NUGT $30 puts
$NUGT $80 calls
$NUGT $100 calls
$NUGT $105 calls
Have a great weekend everyone.
Options Expiration 4/8/16
#OptionsExpiration Only NUGT this week. Earnings season starting up next week…
— Expiring —
NUGT 72 calls
NUGT 45 and 50 puts
NUGT roll
#ContangoETFs #Rolling
BTC NUGT Apr 8th 67 call for 3.90 (sold Monday for 1.00)
STO NUGT Apr 29th 85 call for 4.20
SOME TRADES:
$KMI STC STOCK @17.98
$DUST BTO STOCK @2.59
$DUST STO 4/22/16 3.00 CALLS @.15
Closed all my BIIB Spreads except one, the 4/29/16 250/255 spread. Took a little loss on the closed ones,
Have a great weekend everybody. ;>) Keep smiling.
$UVXY #CoveredCalls #VXXGame – Sold…
$UVXY #CoveredCalls #VXXGame – Sold UVXY Apr 15 2016 28.0 Calls @ 0.39, replacing strike 24.0 covered calls that expire this afternoon.
$SVXY #CoveredCalls #VXXGame #OptionLadder -…
$SVXY #CoveredCalls #VXXGame #OptionLadder – filling out my May #OptionLadder, replacing strike 49.5, 50, 51 and 53 strike calls that expire today
Sold SVXY May 20 2016 60.0 Calls @ 0.75
Sold SVXY May 20 2016 61.0 Calls @ 0.65
UVXY puts
Borrowing this idea from Iceman.
Sold $UVXY Apr 29 16 puts @ .80.
$UVXY #ShortPuts – I let…
$UVXY #ShortPuts – I let myself get spooked out of today’s strike 20 puts even though they may expire. The stock did touch 19.75 this morning so it was briefly in the money.
Anyway, I rolled down and out to strike prices more likely to expire.
Bought to close UVXY Apr 08 2016 20.0 Puts @ 0.22 – I still made about a dime per contract profit, so not all bad
Sold UVXY Apr 29 2016 16.5 Puts @ 0.90
Sold UVXY Apr 29 2016 16.0 Puts @ 0.73
$NUGT
Looks like part of the strength in the miners today is from an analyst upgrade of $ABX lifting all the miners. Unless the fever of the past couple of day’s subsides, I’m not planning to open any additional trades in $NUGT. Not that I don’t think there are opportunities, but I watch closely the Buying Power being consumed by any given position. With $NUGT having gone from $56 to $71 in the last 3 days, I am now at the upper end of my range. I will wait for this weeks and possibly even next weeks positions to roll off before entering any new trades.
NUGT: Adding one in June
Sold $NUGT Jun 17 105 call @ 7.30. Highest strike.
NUGT & FB
#ContangoETFs STO NUGT May 13th 95 call for 4.25 (adding)
#Earnings #ShortStock BTC FB Apr 15th 115 call for .34. Sold for 1.80 on 3/1. FB getting shellacked today; finally some relief for short stock.
$NUGT – any thoughts today…
$NUGT – any thoughts today on this up day?
NUGT Jan
Sold $NUGT Jan 20 2017 105 call @ 19.50. Highest strike.
NUGT call roll
Rolled next week’s 70 strike short calls out to April 22nd 75’s @ .10 credit…
$BIIB Boy, the $BIIB BuPS…
$BIIB Boy, the $BIIB BuPS are sure hard to get out of, even when you’re favoring the Ask Price.
XIV quickie
After selling my XIV position at 25.03 the other day decided to jump back (smaller) for an overnighter. In at 23.89 near the close yesterday and out at 24.75 near the open today. No position now…
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls #OptionLadder – selling these in anticipation of my strike 50 calls for today expiring
Sold SVXY Apr 22 2016 54.0 Calls @ 0.52
Sold SVXY May 06 2016 57.5 Calls @ 0.55
Sold SVXY May 20 2016 60.0 Calls @ 0.70
$CMG #CoveredPuts – Sold CMG…
$CMG #CoveredPuts – Sold CMG Apr 15 2016 395.0 Puts @ 0.30. These expire next Friday
At least on TC2000 charting,…
At least on TC2000 charting, the opening TICK reading was the highest since Sept 2013.
NUGT, SVXY fills
I was away from my desk for the last couple of hours of the trading day, but was filled on these:
Sold $NUGT May 20 95 call @ 4.00
Sold $SVXY May 27 (weekly) 39 put @ 2.00
$NUGT #ShortCalls – Sold 1…
$NUGT #ShortCalls – Sold 1 NUGT MAY 13 2016 95.0 Call @ 3.30. Highest available strike price.
#OffTopic Ernie Els….7 putt 1st green at The Masters
Ouch!
http://espn.go.com/golf/masters16/story/_/id/15155410/ernie-els-7-putts-first-hole-record-10-masters
$NUGT
$NUGT Closed April 15th 35/45 BuPS @ 0.20. Originally opened on 2/23 @ 2.10
TSLA spread closed
Closed my TSLA Apr 8 call spread that I sold this morning.
Sold this morning for 0.45. Closed now for .07 and enjoyed my lunch money!
SPX calls closed
#SPXcampaign Bought to close $SPX Apr 14th 2110/2135 call spreads for .20. Sold for 1.25 on March 16th.
$NUGT #ShortCalls – Sold 1…
$NUGT #ShortCalls – Sold 1 NUGT JAN 20 2017 105.0 Call @ 16.50
$SVXY #ShortPuts – sticking a…
$SVXY #ShortPuts #OptionLadder – sticking a toe in the water again on the Put side
Sold 1 SVXY May 20 2016 39.0 Put @ 1.75
Sold 1 SVXY May 20 2016 38.0 Put @ 1.55
Sold 1 SVXY May 20 2016 37.0 Put @ 1.45
Sold 1 SVXY May 20 2016 36.0 Put @ 1.20
Sold 2 SVXY May 20 2016 35.0 Puts @ 1.05
$SVXY #CoveredCalls – after what…
$SVXY #CoveredCalls – after what happened last Friday when SVXY rallied hard, I decided to roll my only ITM covered call position early, while the stock is off 3 points.
Bought to close SVXY Apr 08 2016 45.0 Calls @ 3.06
Sold SVXY Apr 29 2016 47.0 Calls @ 3.76 – Added 2 points to my strike price plus a 0.70 credit
RLYP…getting burned by covered calls again
Crap…
SPX Call Spread Closed
BTC SPX Apr16 2100/2120 Call Bought for $0.50 when SPX @ 2045 originally sold for $1.05 on 3/28 @ 50% profit
IBB and BIB
Stuck with IBB stock and DITM covered calls (May 250) so that’s pretty much done. Looking to keep biotech exposure…these would get me in at the breakout level which is about where the 20ma and 50ma will be by then.
Sold BIB May 20 2016 45.0 Puts @ 2.90
NUGT Trade
STO May 13 NUGT 95 Call at $3.80
Just getting one for now…
$SVXY
As I mentioned yesterday, trimming off some risk. Closed my short April 15th 40 Put at 0.20. Originally sold at 1.20 0n 3/24.
$NUGT
Sure wish they would give us some higher strike prices in May.
SPX puts sold
#SPXcampaign Sold to Open $SPX May 6th 1915/1890 put spreads for 1.30, with SPX at 2053. Second put spread for this expiry, completing the normal campaign allotment.
Closing a position in TSLA
Taking this September position off at more than 90% max profit
Bought to close $TSLA Sep 16 60 puts @ .16. Sold for 2.20 on 2/10.
$TSLA call spread
STO Apr 8 $TSLA 275/280 BeCS for 0.45.
$NUGT
Nibbled STO May 20 $95 call @ $3.86, adding to position
Will look for other shorter term positions to add to.
NUGT calls
#ContangoETFs STO NUGT Apr 29th 95 call for 2.00
STO NUGT June 17th 105 call for 5.05
$NFLX iron condor flixed out of my porfolio.
BTC NFLX Apr 15 115/110/90/85 for 0.50.
Originally sold for 1.05 on 3/22.
52% of max profit. Keeping with the plan of closing early for at least 50% max profit. It would probably stay safe another week, but taking the risk off also takes the pressure off me. I’d rather take the profit early than try to “fix” it next week if it gets threatened on one wing. I’m sleeping a lot easier.
$SPX
$SPX
I picked up an Indy film shoot this morning that will cover mid to the end of April. So I decided to close out the $SPX spreads to take the risk off. I may close other positions as warranted later.
Closed the April 15th 2100/2120 BeCS @ 1.50, a 0.40 loss.
Closed the April 22nd 2120/2140 BeCS @ 0.90, a 0.05 gain
CMG put
Sold $CMG Apr 22 420 put @ 3.00
SPX puts closed
#SPXcampaign Bought to close $SPX Apr 8th 2015/1980 put spreads for .20. Sold for 1.75 last Thursday. Under threat yesterday, these drained out of premium today and closed.
SPX Call Spread
QQQ two trades; same objective.
BTO May 20 QQQ 111/108 BePS for $1.12
BTO May 20 QQQ 112/109 BePS for $1.32
SPX calls sold
#SPXcampaign Sold to Open $SPX Apr 20th 2110/2135 call spreads for 1.30. These offset the put spread I sold for this Wednesday expiration.
Got my GOOGL eyes on!
Taking a bit of risk here with a tight iron condor, expiring this week.
STO 780/775/755/750 IC for 1.15.
Thesis is that GOOGL stays in this bit of a range this week. Staying above the 20 day ma, and above basically all the recent closing highs.
Hey rknight52 – I was…
Hey rknight52 – I was looking at the broken-wing butterfly while reading about it on TT & accidental submit it in my real money account. So, I’m going to be following you. Sometimes it’s best to do it in real money because I follow it closely. I have a tendency to neglect paper money. I did the AMZN APR 16 695/695.50/605 for 1.97 credit.
More NUGT fun
Sold the following:
$NUGT Apr 15 75 calls @ 1.20
$NUGT Apr 22 90 call @ 1.44
SVXY covered calls
Rolled this week’s 49’s to next week 50’s @ .25 credit. Hanging on a little longer…
IBB call roll
$IBB – Rolled this week’s 250 covered calls to May monthly 250’s for 3.10 credit. 255’s would’ve required a debit roll so leaving things at 250 for now. I’ll look to roll up and out if we get a pullback of the breakout…can’t believe I’ve been watching biotech build a base forever waiting for a breakout and I screw it up with covered calls. Grrrr! Making money but oh what could’ve been…
@Jeff – $KMX might be…
@Jeff – $KMX might be a good earning play. On the move today. Approaching resistance.
AMZN strangle
Borrowed this idea from TastyTrade.
Sold $AMZN Apr 15 560/615 strangle for 4.05 credit. Will look to manage early as theta decay kicks into high gear.
DIS Trade
BTO Apr 15 DIS 96 Calls at $2.07 ea. debit.
Assuming will close yesterday’s gap.
Closing BIB
Taking advantage of the strength in biotech to close this position for around 75% of max profit.
Bought to close $BIB May 20 30 puts @ .35. Sold for 1.50 on 1/15.
Chat TEST
I’m testing a chat feature. If you don’t see it on the right sidebar of this page, refresh your browser. Let me know if you don’t see it or cannot respond. Thanks!
SPX call roll
#SPXcampaign Sold to open $SPX May 6th 2100/2125 call spreads for 5.00. This is a more aggressive position as a roll from previous stopped call spreads. Stop will be if SPX hits 2080.
SPX iron condor
Didn’t have anything for Apr 22, so STO SPX Apr 22 2130/2120/1960/1950 for 1.10.
SPX calls sold
#SPXcampaign Sold to Open $SPX May 6th 2130/2155 call spreads for 1.55, with SPX at 2048.
#Gold Looks like Gold has…
$NUGT #Gold
Looks like Gold has once again failed to show any follow through strength. Still can’t get above the 20d SMA.
$NUGT holding up better than gold but if gold continues to roll over, $NUGT will follow.
I actually don’t want it crash lower. The longer is stays up like this, the more money we make selling weekly calls with some premium.
$SVXY – I have so…
$SVXY – I have so many short calls in SVXY that I actually am ahead on my SVXY position today
$NUGT
Sold April 29th 85/105 Bear Call Spread @ 1.30 when $NUGT was trading @ 59.94
SPX broken wing butterfly, healed nicely!
Closed the SPX broken wing butterfly that I “sold” last week for 1.60 credit. Closed now for 0.10 debit. I love flying with these butterflies!
creamy NUGT filling
#ContangoETFs Got these fills during the day from orders entered this morning:
STO NUGT Apr 15th 75 call for 1.05
STO NUGT Apr 29th 95 call for 1.00
STO NUGT Apr 8th 67 call for 1.00
A TRADE:
$UVXY STO 4/29/16 17.0 PUT @1.05 Took the strike cue from @Iceman Thank you Sir. Paired it with the Call I sold earlier, it’s easier on the margin usage.
A TRADE:
$LABU STO 4/15/16 35.0 CALLS @1.10 Hasn’t seen 35.0 since the end of Jan. 2016. Why should it hit 35.0 in the next two weeks then? We’ll see. Stock @31.30.
Options Bistro 