TBT, I have not been doing much in the market except taking risk off the table. Today I sold a small amount of TBT 35.5 puts for July 1
Daily Archives: Wednesday, May 18, 2016
NFLX thoughts
$NFLX Showing relative strength all day long. Outperformed most of the Nasdaq (and all of its peers like AMZN, FB, GOOGL and even AAPL on a strong day for the forbidden fruit). Pretty decent volume. Rhetorical question but could this finally be the reversal? It still has quite a bit of work to do and will run into resistance on the way back up, and will have to traverse the 3 major moving averages. But it’s something to watch, as if I don’t have enough to watch.
AMZN expiration play
#IronButterfly Sold to Open $AMZN May 20th 700/695 put spread for 2.55. As it stands now, this is a 1:1 risk/reward trade. My plan is to sell the 700/705 call spread on strength tomorrow and end up with an iron butterfly for Friday, with very low risk.
Taking some more NUGT off
Taking these off at a profit for Friday’s expiration. Reducing exposure as much as I can now as NUGT plunges.
Bought to close $NUGT May 20 95 calls @ 1.80. Sold for 3.70, 2.60 and 4.00 from 3/27-4/7.
$SPX Closed June 10, 2145/2170…
$SPX Closed June 10, 2145/2170 BeCS for .35, sold for 1.42 on May 10.
$XRT Sold September 16 40/35 BuPS for 1.50. This is a retail ETF, really beaten down. Also bought a couple Sept. 46 calls at .23. Hopefully WalMart doesn’t drag it down further.
Closing a NUGT rolled position
Bought to close $NUGT 5/27 110 call (rolled out from 5/13 95 call on 5/13).
Paid to close: 2.27
Sold for 7.59 (rollout)
Overall profit from full position: 2.38
NUGT put
#ContangoETFs STO NUGT May 27th 75 put for 2.25
Closing covered call in AMZN
Taking advantage of the stock’s foray below the strike price to cover this one at a profit and avoid assignment. I also have the 650 covered call (which should be assigned) and the 750 covered call (which should expire) on Friday.
Bought to close $AMZN May 20 700 call @ 2.97. Sold for 4.50 on 4/29.
$BIB
STO Aug 19 30 put for 1.25
STO UVXY May 20 2016…
STO UVXY May 20 2016 18 Calls @$.11
$NUGT
After the fed minutes, STO May 20 $120 calls @ $0.50
SPX calls sold
#SPXcampaign Sold to Open $SPX June 1st 2105/2130 call spreads for 1.50. Selling these as a roll and offsetting a put spread I have to create an iron condor for this expiry (Wednesday weeklys).
CRM earnings
#Earnings Sold to Open $CRM May 20th 72.5/67.5 put spreads for .75. Over last 12 earnings, Biggest UP move: 12.6%, Biggest DOWN move: -5.8%, Average move: 6.5%. The short strike is 6.6% OTM.
$TGT I checked, nobody here…
$TGT I checked, nobody here reported being bullish on Target around earnings. It’s down almost 10% today.
$NUGT #ShortPuts #Weeklys – a…
$NUGT #ShortPuts #Weeklys – a small dip in NUGT back to 102 allowed me to sell the following.
Sold NUGT MAY 20 2016 86.0 Puts @ 0.55
Sold NUGT MAY 20 2016 88.0 Puts @ 0.75
These expire Friday
SPX call spreads closed
#SPXcampaign Away from desk yesterday, Jun3 2140/2165 call spreads closed Tuesday @ .20. Need more call spreads have only one left!?
DUST reverse split 1:10
#ContangoETFs I was assigned some stock at 5.00. When it dropped below 2, it didn’t seem to much ask for a return to 5. Now that it is 12.95, I need it up to 50.00 to break even.
NUGT put
#ContangoETFs STP $NUGT June 3rd 75 put for 2.40
Options Bistro 