Not that this means anything this year- how the S&P has traded in July since 1950
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Daily Archives: Wednesday, July 6, 2016
SPX chart and VIX Indicator…
SPX chart and VIX Indicator are updated
SVXY Late fills
STO: covered calls
68 call@2.80
70 call@2.30
71 call@2.20
NUGT strangle roll of the day…
…not because it’s my best trade of the day. But because I have to make one of these rolls EVERY SINGLE DAY.
BTC NUGT July 29th 160 call for 27.55. Sold for 9.50 on June 15th.
STO NUGT Aug 5th 205 call for 15.00
STO NUGT Aug 5th 135 put for 11.60
SVXY puts today
STO December:
31 put@2.40
33 put @2.80
34 put @3.00
69 covered call@2.40
NUGT
If only Gartman would get bullish on NUGT I could break even.
Highs and lows today
New 17-month high on NUGT / all-time low in DUST
New 28-month high in GLD.
New all-time low in UVXY.
New all-time high in TLT/all-time low in TBT.
$NUGT
Made some additional trades. When $NUGT just kept climbing even as Gold was dropping, I capitulated and closed my July 8 $170 call and rolled it into a July 15 $220/$131 Strangle.
I rolled my July 8 $175 calls up to July 8 $190, $195 and $200 calls once $NUGT started to show some weakness.
The reason I sold the covered call yesterday was so that if $NUGT continued to run higher, the profit from that trade would substantially cover any potential losses from the $170 and $175 calls.
what is the hell with…
what is the hell with this market. 2:21 PM EDT, 07/06/2016 (MT Newswires) — The US trade deficit jumped 9.9% in May as exports fell and imports increased, the Department of Commerce said in a report on Wednesday.
$SVXY
In my attempt to induce a pull back for better overall entries Sold to open July 29th 45 Put @ 1.80.
NUGT rolls…
Busy at work most of the morning but managed a couple rolls…
Rolled Aug 105/175 strangle up to 125/200 for .74 debit
Rolled Sep 105/180 strangle up to 120/200 for .71 debit
I’ll take the 1.45 cost for these rolls out of the 11.05 received for selling this week’s put…still a nice return for the week.
$/GC $NUGT
Except for a spike at 11am, Gold has been drifting lower all session. But $NUGT is really hanging tough. At some point this afternoon, if Gold keeps drifting lower, eventually it would seem likely that the miners should start drifting lower as well playing some catch-up.
Market
I should have known that this was a bear trap today when I saw an article by Goldman Sachs that said the market was going to go down big.
SVXY Covered calls
Selling the following: December
65 call@3.10
66 call@2.90
67 call@2.65
68 call@2.50
Well it seems that the…
Well it seems that the market drop was just profit taking and very short lived…..
SPX calls sold
#SPXcampaign Sold to Open $SPX Aug 5th 2165/2190 call spreads for 1.45, with SPX at 2082.
SPX same day puts closed
#SPXcampaign Bought to close $SPX July 6th 2065 puts for .20. Sold as part of the 2065/2050 put spread for 1.50 two hours ago.
$NUGT
STO July 8 $135 put @ $1.20 expires friday.
Trying to lend some support to @fuzzballl.
AET pre Earnings Trade
AET is on a 30 min and daily squeeze; it just fired up from a 5 min squeeze.
Earnings are on Aug 2nd so I did a Dia.
BTO Aug 5 AET 188 Call and STO Jul22 AET 122 Calls for $3.28.
this position will make money as long as AET remains above 119.70.
I’ll cut it off if AET drops below 118.50
SOME TRADES:
$UVXY BTC 7/15/16 16.0 CALLS @.17
$VXX BTC 7/8/16 15.5 CALLS @.09 Gained most of the premium, and additional buying power.
$UVXY STO 7/15/16 11.0 CALLS @.54
$UVXY STO 7/15/16 11.5 CALLS @.50
$GGN BTO STOCK @6.71 Poor man’s $NUGT ;>)
SPX put spread
STO Jul 29 1980/1970 put spread for 0.90.
This completes an iron condor with my 2150/2140 call spread.
Total credit 2.10.
SPX iron condor
STO Aug 19 2185/2175/1890/1880 IC for 1.65
Looking to close at about 60% max profit.
FB covered put roll
#Earnings #shortstock
BTC $FB July 8th 108 put for .05. Sold for 1.20 on June 13th.
STO $FB July 29th 105 put for 1.40. This is after earnings but since the cost basis on my short stock is now above 108.00, I’m okay being assigned at 105.
SPX same day spread
#SPXcampaign Sold to open $SPX July 6th 2065/2050 put spreads for 1.50.
MDVN (pharma company) is on…
MDVN (pharma company) is on sell, at least 3 big pharma are biding to get it. I think MDVN asking for 58/share
Options Bistro 