$NUGT STO 4/22/16 75.0 CALL @2.10 Has hit 75.0 once since July 2015. Expect the expected.
$UVXY STO 4/29/16 30.0 CALL @1.05
Monthly Archives: April 2016
SCTY Short Squeeze?
SCTY has been going up today like a rocket. The short float is at around 40%, so it could be a “short squeeze”
I have no position.
SVXY puts
Sold SVXY MAY 20 2016 40.0 Puts @ 1.80
$DUST #ShortPuts – Sold DUST…
$DUST #ShortPuts – Sold DUST Apr 15 2016 3.0 Puts @ 0.20. If NUGT stays below 63 then DUST should stay above 3.
$UVXY #CoveredCalls – Sold UVXY…
$UVXY #CoveredCalls – Sold UVXY Apr 08 2016 24.0 Calls @ 0.38 against stock that was acquired via put assignment at 22 last Friday
$UVXY #ShortPuts – used today’s…
$UVXY #ShortPuts – used today’s opening to adjust a put position for this week –
Bought to close UVXY Apr 08 2016 19.0 Puts @ 0.40 – made a dime profit
Sold UVXY Apr 08 2016 18.0 Puts @ 0.20 – sold twice as many so the trade is a wash as far as cash
I’ve lowered my risk point to a price below the YTD low on the stock.
A TRADE: Followed Jeff, somewhat. Thank you.
$NUGT STO 5/6/16 85.0 CALLS @1.75
$NUGT
Todays 1 minute chart looks like a double black diamond run. Selling calls quickly at the open looks like the right trade today.
NUGT fat finger…oops
Meant to put in a sell order and accidentally bought back my May 95 at 2.60. Turned around and re-sold it for 2.30. Ooops lost 30 cents but luckily the original sale was 3.60 so still a money maker overall. 🙂
$SVXY
Dipped my toe for the first time in many month’s
STO $SVXY Apr 15 $42.5 puts @ $0.55
STO $SVXY Apr 22 $40 puts @ $0.55
Only sold a small amount and stayed very short term
$NUGT
When $NUGT started to sell off right after the open, I made a few trades. Started selling a few May calls.
STO $NUGT May 6 $95 calls @ $1.45
STO $NUGT May 13 $95 calls @ $1.85
STO $NUGT May 20 $95 calls @ $2.55
I would really like them to open some higher strikes. Would rather trade $100’s and $105’s when selling out more than a few weeks.
DIS Loss…:-<
BTC DIS 97/93 BuPS for $1.10 Sold for $0.52;
SPX put-roll sold
#SPXcampaign Sold to Open $SPX April 20th 1980/1955 put spreads for 1.90. These are extra juice to make up for stopped calls. These are Wednesday Weeklys so less liquid than usual.
NUGT call
#ContangoETFs STO NUGT May 6th 95 call for 1.50. Opened strong but is fading… have more orders in but no fills.
$NUGT Ended the session with…
$NUGT Ended the session with an inside day. I’ll watch tomorrow, to see what direction to take and trade accordingly.
Spx directional
Sto Spx April wk 2. 2060 put for 8.90
Bto Spx April wk2. 2060 call for 11.90 I’m planning to close these tomorrow with at least 5.00 profit, have my stops in place just in case.
$SVXY #ShortPuts #OptionLadder – so…
$SVXY #ShortPuts #OptionLadder – so with a lump in my throat I did the following today:
Sold a block of SVXY stock at 52.13 (at a gain from last September).
Then sold the following Puts to more than replace the stock position –
Sold SVXY Apr 22 2016 40.0 Puts @ 0.40
Sold SVXY Apr 29 2016 40.0 Puts @ 0.65
Sold SVXY May 13 2016 40.0 Put @ 1.10
Sold SVXY May 20 2016 40.0 Puts @ 1.35
$NUGT
Sold April 22nd 40 P @ 1.05. I will roll on touch if need be.
SPX calls stopped
#SPXcampaign Bought to close $SPX April 14th 2090/2115 call spreads for 4.00. Sold for 2.05 on 3/29. The freight train up has continued so having to stop out of this one since we have broken above the 20-point OTM mark (2070).
NUGT strangle complete
Sold NUGT MAY 20 2016 35.0 Put @ 1.85
Paired up with May 95 calls sold last week…5.45 credit per strangle now.
$NUGT
With Gold continuing to look weak, lower high’s and every spike higher gets sold into with no follow thru. Made a couple more trades.
STO Apr 15 $80 calls @ $0.70
STO Apr 22 $95 calls @ $0.50
STO Apr 29 $100 calls @ $0.75
SPX puts sold
#SPXcampaign Filled at the low of the day (about 11:15 et), sold to open $SPX May 6th 1925/1900 put spreads for 1.25.
BIB is breaking out. I bought the May 40 calls @6.50 and am short the May 40 puts @ 5.60 and the Sept. 30 puts @2.05. I like biotech and Airlines. Airlines are printing money as well as consolidating so less competition.
BIB is breaking out. I bought the May 40 calls @6.50 and am short the May 40 puts @ 5.60 and the Sept. 30 puts @2.05. I like biotech and Airlines. Airlines are printing money as well as consolidating so less competition.
EA BeCS
STO EA 160429 67.5/69.5 BeCS for $0.52 crd.
EA is on a squeeze and has tried to penetrate the 67.5 level 3 times and failed. There is a higher probability of EA going down as it has done on the previous two similar up moves.
My expected target is the 61.8% retracement of this up move, which is the 58.12 level.
Earnings in 31 days on Thu May 5 AMC. This position will expire in 25 days, so no IV increase due to earnings.
Will get out if EA closes above 67.33
AMZN broken wing butterfly
Another AMZN broken wing butterfly for this week. STO 595/597.5/605 call spread for 1.20.
Max possible profit 3.70. Max loss 3.80.
TLT iron condor closed
BTC Apr 15 135/133/125/123 for 0.25. Originally sold for 0.70. Could probably have kept this for full profit, but keeping with my disciplines and original plan to close at this price. 64% max profit.
SPX iron condor
STO May 13 2165/2155/1930/1920 for 1.40
TSLA call spread
STO May 20 270/275 BeCS for 1.25
Is TSLA going to the moon with this newer lower priced vehicle? My take is I doubt it. The news and the preorders are now baked into the price and I think this spread should work.
#VXXGame Another day, another all-time…
#VXXGame Another day, another all-time low in UVXY!
KOLD call closed
#ContangoETFs BTC KOLD April 15th 300 call for .30. Sold for 3.30 on March 23rd. Still short some May & August calls above 260, and puts below 85.
FB puts
#CoveredPuts #Earnings #shortstock
I have been neglecting my FB position and not selling puts on down days. Earnings date not set, but based on IV I’m guessing after April 22. Cost basis around 105/106, so selling a 110 before earnings and a 105 after earnings:
STO FB April 22nd 110 covered put for 1.50
STO FB April 29th 105 covered put for 1.35
$NUGT
Adding a few $NUGT positions to replace those that rolled off last week and to help offset short calls for those expirations.
STO Apr 15 $40 puts @ $.45
STO Apr 22 $35 puts @ $.45
Why we trade from the Short Side (mostly)
Most, if not all of us, like to trade predominantly from the short side; do you know why?
The real reason is not that it is easier or that Theta decay works for the position; even though those are all valid.
The real reason is because normally, when trading from the short side we have a better probability to win than when trading from the long side.
Any stock, ETF, or Index can only move in 5 different ways:
1. Fast up
2. Slowly up
3. Stagnant
4. Slowly down
5. Fast down.
When we are short, we win in 3 out of the 5 and possibly even on 4 of the 5; when we are long, we need the underlying to move otherwise we lose, so we only win in 1 out of the 5.
If only I would have known this two years ago!
#OptionsExpiration for 4/1 Only 2…
#OptionsExpiration for 4/1
Only 2 expirations this week
$NUGT 04/01/2016 90 calls
$UVXY 04/01/2016 115 calls
No assignments.
Have a great weekend everyone.
#OptionsExpiration #Weeklys #Apr01 – with…
#OptionsExpiration #Weeklys #Apr01 – with the Fed juicing the market and crushing volatility I had to scramble to roll ITM $SVXY positions up and out.
— Expirations —
CMG (Weekly) Apr 1 2016 415 Puts (covered)
DUST (Weekly) Apr 1 2016 3 Puts
NUGT (Weekly) Apr 1 2016 40 Puts
NUGT (Weekly) Apr 1 2016 90 Calls
NUGT (Weekly) Apr 1 2016 105 Calls
SVXY (Weekly) Apr 1 2016 38 Puts
SVXY (Weekly) Apr 1 2016 39 Puts
XOP (Weekly) Apr 1 2016 32 Calls (covered)
— Assignments —
UVXY (Weekly) Apr 1 2016 22 Puts
FB calls
#Earnings #ShortStock BTC FB Apr 1st 112 calls for 3.95. Sold for 1.50 on 2/19. Short Stock position not looking pretty lately. Need to decide how to handle before earnings.
$AAPL #CoveredCalls #Rollup – too…
$AAPL #CoveredCalls #Rollup – too close to mess with so I rolled out a week and up a point
Bought to close AAPL Apr 01 2016 110.0 Calls @ 0.01
Sold AAPL Apr 08 2016 111.0 Calls @ 0.59
SVXY covered call
Sold $SVXY Jun 17 65 call @ 1.25
$SVXY #CoveredCalls #Rollup – I…
$SVXY #CoveredCalls #Rollup – I came into today thinking at least this one would expire. No such luck.
Bought to close SVXY Apr 01 2016 51.5 Calls @ 0.47
Sold SVXY Apr 08 2016 53.0 Calls @ 0.93 – added 1.5 points to my strike price for a nice premium
SPX puts closed
#SPXcampaign Bought to close $SPX Apr 22nd 1875/1850 put spreads for .20. Sold for 1.30 on 3/24.
#VXXGame… and another all-time low…
#VXXGame… and another all-time low on UVXY.
SPX calls sold
#SPXcampaign Sold to Open $SPX Apr 29th 2135/2160 call spreads for 1.35, with SPX at 2068.
DIS Trade.
BTO May 6 96C and STO Apr 22 101 Call for $3.58; this is a Diagonal.
To pay for that. STO Apr 22 97/93 BuPS for $0.52 crd pp.
Position makes money if Dis finishes above 97 on 4/22….and the 96C for May 6 will still be there for free.
Almost forget: DIS is on a Squeeze on the daily chart.
$SVXY
Sold April 22nd 54 Call @ 1.40. C0vered by long stock .
SPX puts closed
#SPXcampaign Bought to close $SPX April 14th 1925/1900 put spreads for .20. Sold for 1.30 on March 18th.
UVXY roll of the day
#VXXGame… not that it’s the best roll of the day, just that I have to make a roll every day.
BTC UVXY Apr 8th 22 put for 2.57 (sold for .60 on March 10th)
STO UVXY May 6th 30.5 call for 1.34
STO UVXY May 6th 16 put for 1.24
SPX day trade closed
#SPXcampaign Bought to close $SPX Apr 1st 2040 put for .20. Sold this morning as part of 2040/2020 put spread for 2.20.
A TRADE: Got a gift this morning.
$UVXY BTC 4/1/16 26.0 PUT @5.75 STO @2.52, after a couple of roll outs. Happy. Thanks to all that offered advice.
$UVXY #ShortPuts #VXXGame – Bought…
$UVXY #ShortPuts #VXXGame – Bought to close UVXY Apr 01 2016 20.0 Puts @ 0.20 to avoid possible assignment tonight.
A tiny gain after commissions but at least I avoided going long in this account, for this week at least.
$NUGT #ShortCalls #Rollup – Trade…
$NUGT #ShortCalls #Rollup – Trade at the open to avoid possible assignment tonight. Surprisingly, this is the only NUGT position I needed to roll this week.
Bought to close NUGT Apr 01 2016 52.5 Calls @ 3.09 – Sold on a previous roll for 17.70
Sold NUGT May 06 2016 64.0 Calls @ 5.64 – I pushed the strike out 5 weeks and up 11.5 points for a 2.55 credit.
IBB roll
#CoveredCalls – Rolled this week’s 250’s to next week’s 250’s @ 2.00 credit. Keeping a little cushion under the stock for another week.
SVXY roll
$SVXY #CoveredCalls #IRA #Rollup – Following Iceman…rolled this week’s 48 covered calls out and up to next week’s 49 calls @ .45 credit. Picking up a little cash and another possible point upside in the stock.
SPX day trade
#SPXcampaign Sold to Open $SPX Apr 1st 2040/2020 put spreads for 2.20. TICKs looking stronger, so taking a shot that we are not collapsing today. We’ve been down .7% and I doubt we’ll exceed that. Breakeven at close would be 2037.80.
$SVXY #CoveredCalls #IRA #Rollup –…
$SVXY #CoveredCalls #IRA #Rollup – Trade at the open to avoid possible assignment tonight –
Bought to close SVXY Apr 01 2016 47.5.0 Calls @ 1.60
Sold SVXY Apr 15 2016 50.0 Calls @ 1.90 – I pushed the strike out 2 weeks and up 2.5 points for a 0.30 credit.
Positions I rolled yesterday were obviously done too early, but I will reap the rewards of those rolls throughout the month of April.
$NUGT
Bought to close Apr 90/100 BeCS @ 0.15 on the open. Had a GTC order on it.
SPX puts sold
#SPXcampaign Sold to Open $SPX Apr 29th 1910/1885 put spreads for 1.30, with SPX at 2044.
Options Bistro 