Interesting comment on Fast Money from Tom Lee, who makes a lot of accurate market calls. He said their research showed that since 1940, all 10 times the market has gone down over 5% in 2 days, while also being above the 200-ma when it started, the markets recovered within six months, with an average up move of 10%. If that 100% performance sustains, we will see new highs by the end of the year.
Daily Archives: Wednesday, June 29, 2016
UVXY call spreads
Took these off today for a 3 day quickie…
Bought to Close UVXY AUG 19 2016 20/30 Bear call spreads @ .43 (sold for 1.05)
$SVXY #CoveredCalls #VXXGame – Sold…
$SVXY #CoveredCalls #VXXGame – Sold SVXY Sep 16 2016 60.0 Calls @ 2.20 with the stock at 48.47 after hours
SPX calls rolled
#SPXcampaign #Rolling Well it turned out to be a mistake doing a #ReverseRoll for stopped puts on Monday. Going farther out in time for this roll so I can be at a comfortable distance OTM.
Bought to close $SPX July 8th 2075/2100 call spreads for 9.60. Sold for 3.00 on Monday.
Sold to Open $SPX August 18th 2130/2155 call spreads for 6.35 (1.5x position size).
$PCLN June 27 sold a…
$PCLN June 27 sold a 1040/1025 BuPS for 1.26 thinking PCLN shares had overreacted (I think RK pointed that out-thank you), bought back today for .22
$VXX bought back Aug. 19…
$VXX bought back Aug. 19 VXX 20 call for .61, sold Monday for 1.61. Thank you VXX game proponents
NUGT roll out
#ContangoETFs Rolling breached short call into a strangle:
BTC NUGT July 15th 120 call for 15.40 (sold for 11.00 on June 3rd)
STO NUGT August 5th 80/150 strangle for 15.80
Also, new position:
STO NUGT August 19th 175 call for 10.70 (highest strike)
AMZN call spread
AMZN moving higher close to recent high. sold Aug 820/840 calls for $2.05 when AMZN at 716.5.
10% ROI.
What are the SPX Campaign Rules?
A seen a few post where the term spx campaign rules was used. What are said rules? Can anyone share? Thanks in advance.
SKEW history
Below I’ve compiled a daily chart of the SKEW since 2013 to show how accurate it can be. Most peaks in the SKEW (above 140) are followed by corrections. We don’t always get a signal; the August 2015 crash was preceded by no SKEW peak. But when it does peak, a correction almost always follows. Slightly less reliable but still significant are signals below 120… we usually get a strong rally. 10/15/14 and 9/30/15 are good examples, with rallies beginning the very same day that brought us back to pre-correction highs.
Iron Fly. Last week a…
Iron Fly. Last week a few of us sold a 2090/2100/2100/2110 iron fly expiring last Friday. This genius inadvertently sold it for June 29(I can read and count, usually). If this rally continues into tomorrow, I could end up making money in which case I’ll swear off beer and volunteer at a soup kitchen or two, well maybe the soup kitchens.
SPX call spread sold
Sold another call spread: Aug 5 2150/2160 @ 1.15 when SPX at 2063
SPX Fib resistance
Today’s peak in SPX (thus far) is the 61.8 Fib retracement from the Pre- and Post-Brexit plunge. That could be a potential resistance level from going higher. Or if we break above 2070, it isn’t.
SVXY covered calls
$NUGT pre-split strikes
@Iceman…I’ve seen you do this type of thing before so I was wondering what your thoughts were about something like January 35 calls (pre 1:10 reverse split) if you could get let’s say 1.00 for them. That would be the equivalent of 10.00 for 350 strike in January. Normal chain only goes up to 185.
$SVXY
BTC $SVXY Jul 8 $67 calls @ $0.05
SPX calls sold
#SPXcampaign Sold to Open $SPX July 29th 2155/2180 call spreads for 1.40, with SPX at 2066.
SVXY
Covered calls. As the market grinds higher I am selling calls against the stock I was assigned last week.
STO December 71 call @2.00
STO December 66 call@2.90
STO December 65 call@3.10
$SVXY #CoveredCalls #VXXGame – since…
$SVXY #CoveredCalls #VXXGame – since I added a bunch of long stock last week and am still short 44.5 and 45 Puts for this week, and next, I added the following positions:
Sold SVXY Jul 1 2016 52.0 Calls @ 0.15 with the stock at 47.39 – these expire Friday
Sold SVXY Jul 1 2016 52.5 Calls @ 0.15 with the stock at 48.00 – these expire Friday
Sold SVXY Jul 8 2016 53.5 Calls @ 0.55 with the stock at 47.91 – these expire next Friday in a short trading week
So $NUGT is around its highs
Matching the levels it reached during the last peak on May 2. I thought I’d take a look at the same time period for $GDX. Since May 2, $GDX is about 6% higher, while $NUGT is 0%. Obviously the momentum is with this name right now but the triple-leveraged drag shows pretty significantly even over a short time period like this because of all the volatility. I’ll be selling puts on the next pullback to offset all my short delta in this but in general, long term out of the money calls (when the premium is there) have an edge. I sold some Jan 185s earlier. Will look for higher premium if NUGT keeps moving up.
$UVXY $SVXY
To tag onto Iceman’s chart yesterday. Today $UVXY already dropped below where it was at the close last Thursday. $SVXY on the other hand is still more than $10 below where it was at.
NUGT
Sold December 70 put@14.00
Put spreads closed this morning
#spxcampaign
Bought to close July 14th 1850/1825 puts for .20. Sold June 16th as part of iron condor for 2.45.
Bought to close July 14th 1860/1835 puts for .20. Sold June 16th for 1.50.
Bought to close July 22nd 1800/1775 puts for .20. Sold Monday as part of iron condor for 2.70
NUGT Jan call
Sold $NUGT Jan 20 185 call @ 29.00. Highest strike.
Premium is a bit higher now.
$SVXY
STO July 8 $52.5 calls @ $0.65
Next week is a short week, likely very light volume and I think the market and $SVXY are going to run into some resistance. Easy to roll if needed. Would rather be rolling $SVXY calls than puts right now.
$UVXY #ShortPuts – added these…
$UVXY #ShortPuts – added these to my short put portfolio
UVXY JUL 8 2016 8.0 Puts @ 0.20 – short trading week next week
UVXY JUL 29 2016 7.0 Puts @ 0.32
$UVXY #ShortCalls #ClassicVXXGame – Bought…
$UVXY #ShortCalls #ClassicVXXGame – Bought to close 1/3 of my UVXY Jan 19 2018 115.0 Calls @ 1.75.
Originally sold these on 6/13 @ 3.60.
I’m sure these can be resold in the future with 569 days left until expiration.
$SVXY #CoveredCalls #VXXGame – Sold…
$SVXY #CoveredCalls #VXXGame – Sold SVXY Sep 16 2016 60.0 Calls @ 2.00 with the stock at 47.21
#SPXcampaign SOLD 20 JUL 16…
#SPXcampaign SOLD 20 JUL 16 2130/2155 CALL @1.30 CBOE
SPX put spread closed
BTC SPX Jul 8 1950/1940 for 0.30.
Originally sold for 0.70.
Glad to get out at above 50% max profit a week early. I agree with Jeff, I have a bearish sentiment and glad to get this spread closed. I see no reason this market is going to push to a new high soon. What would be the catalyst?
SVXY
Sold to open December 69 covered call @2.25
SKEW hits all-time high
The SKEW index was created by CBOE in 2011 to help deal with risk of large down moves in SPX. It makes only one reading per day, and yesterday’s reding of 153.66 was the highest since they started publishing readings. (see more inf o on SKEW here: http://www.cboe.com/micro/skew/introduction.aspx)
Typically, reading above 135 are bearish, and readings below 120 are bullish.
Options Bistro 