From Tasty Trade about the skew.
https://www.tastytrade.com/tt/daily_recaps/2016-07-20/episodes/skew-market-and-volatility-movements-07-20-2016
Daily Archives: Wednesday, July 20, 2016
$NEM
Looks like it is trading up nicely after market so earnings must have been good.
SPX puts sold
#SPXcampaign Sold to Open $SPX July 29th 2140/2115 put spreads for 2.05, right before bell with the small spike down to 2172.
SVXY…more covered calls
I’ll plan on buying these back on the next volatility spike. If we don’t get it then they’re covered.
Sold SVXY JAN 20 2017 70.0 Call @ 6.50
Sold SVXY JAN 20 2017 75.0 Call @ 4.72
Sold SVXY JAN 20 2017 80.0 Call @ 3.30
NUGT #ShortPuts – Sold NUGT…
NUGT #ShortPuts – Sold NUGT Aug 19 2016 70.0 Puts @ 1.10 with the stock at 123.13
NFLX covered calls
Continuing to sell calls against my short puts on the move up.
Sold $NFLX Aug 19 100 calls @ .40
NUGT roll
Rolled $NUGT Aug 130 puts down and out to Sep 123 puts for 2.50 credit.
$DUST #CoveredCalls – sold these…
$DUST #CoveredCalls – sold these today with the stock at 7.0.
Sold DUST Jul 29 2016 8.0 Calls @ 0.25
Sold DUST Mar 17 2017 12.0 Calls @ 1.50. Highest available strike price
$NUGT #ShortPuts – sold both…
$NUGT #ShortPuts – sold both these
Sold NUGT Jul 22 2016 109.0 Puts @ 0.55 – these expire in 2 days
Sold 1 NUGT Jul 29 108 Put @ 3.60
$VIX – http://www.zerohedge.com/news/2016-07-20/vix-hits-11-handle-crashes-fastest-pace-history
$VIX – http://www.zerohedge.com/news/2016-07-20/vix-hits-11-handle-crashes-fastest-pace-history
$UVXY #ShortCalls #ClassicVXXGame – Bought…
$UVXY #ShortCalls #ClassicVXXGame – Bought to Close 1 UVXY JAN 19 2018 115.0 Call @ 0.70.
Cleaning this position up before the reverse split.
Originally sold about a month ago at 3.60.
Still 548 days until expiration
NUGT call closed
#ContangoETFs Bought to close NUGT Aug 12th 250 call for .50. Sold for 8.10 on July 8th.
Wide bid/ask spread but I was filled immediately.
QCOM bullish play
#Earnings QCOM has gone down on last 9 earnings reports. But since the Feb lows it seems to have found its bottom and now in recovery. Carter Worth covered it on Fast Money as a bullish play. I’m making a pretty cheap play with a 57.5 call butterfly, which is about the expected move in TOS.
Bought to open QCOM 56.5/57.5/58.5 call butterflys for .15. Max loss .15, max gain .84 if pins at 57.5. Expiration breakevens 56.66 and 58.32.
OPTT
Anybody back up the truck on this one last week? Wow!
$SVXY
Sold Sept 70 Call @ 1.75. This covers the last of the long stock in this account.
$SVXY
Sold Sept 70 Call @ 1.75. This covers the last of the long stock in this account.
$BIIB
#Earnings play
STO $BIIB 240 July 22 put @ 1.55. Company has beat last four quarters. It is in downtrend. Biggest down move on earnings was 22%. Average move is 6%. Last quarter move was 5%. This order is 8% out of the money.
SPX spread adjustment
Rolled short Aug 31 1900 puts up to 2000 for 2.65 credit. Gradually rolling up over last few weeks. Doubt if I go any higher since this is now sitting at the Brexit low.
$/GC $GLD $NUGT
Gold itself has been acting better than the miners today, could be a sign of some distribution. Rotating out of the miners and into Tech or something else.
SVXY covered call
Sold $SVXY Jan 20 2017 80 call @ 3.20, against the last lot of my long stock. I am now covered on calls from Aug through Jan with strikes from 60 to 80.
SPX contrarian
Well, don’t usually do these, but saw it on TT and it looks low risk, and with the market doing weird stuff thought I’d try it. Also looks like SPX and SPY may have peaked for the day and starting down.
So, BOUGHT, yes BTO SPX 2170/2165 put spread for 0.50. Expires today! Makes money below 2169.50.
This may be really dumb, but risk is defined at 0.50, and could actually make a few bucks.
NUGT puts
Selling some more puts into the down move. Proceeding cautiously.
Sold $NUGT Jul 29 105 puts @ 1.80.
NEM
With all of our NUGT positions, it will be interesting to see what Newmont reports after the close today…
NFLX recap
Posted yesterday:
Sold the weekly 89/99/99/109 for 7.30 yesterday for earnings.
Obviously a bigger move than the market expected. By staying small I can afford to mess with this for awhile. At the open today, I sold the long 89 puts at 3.65 (too early) giving me a total premium received for the trade of 10.95. This would give me the stock at a cost basis of 88.05. I’ll be looking for a rally to this number to close this week or start looking to sell covered calls beyond this week.
Update:
By staying small I’ve been able to adjust and extend duration. Trade is now back to even and with DAN over at OMM putting on a long trade this morning I’m feeling like there’s a decent chance to get out fairly profitably.
QIHU – got in this…
QIHU – got in this trade for lunch money but got a notice about stock requiring cash of $7693
anyone know what that means?
NUGT again
Little bounce there so:
Sold NUGT JUL 29 2016 160.0 Call @ 3.50
Looking to add put side soon…
SPX Mid Week 11 Hour Iron Condor
BTC July 20 2175/2180/2140/2135 @ .25 sold yesterday @ .50. Closed put side for no commission, call side bought at .25, as momentum moving to breach 2175 short, SPX now at 2173.70. TDA made money, while I live to trade another day…
UAL earnings
#Earnings Bought to close UAL July 22nd 47.5 puts for .10. This adds an additional .10 to my risk, but sets me up well if there’s a pullback into week’s end. This trade was yesterday’s sale of the 45.5/47.5/48/50 iron condor for 1.42. Now I have no downside risk.
$NUGT
Seems to be stabilizing, at least for now.
STO Aug 19 $80 puts @ $1.70
STO Jul 29 $95 puts @ $0.65
Want to add some short calls if we get more of a bounce. Will be short term and likely $175 or higher.
MSFT call sold
#Earnings Filled on the exit of my first call, bought as a .62 strangle yesterday.
Sold to close $MSFT July 22nd 56 call for .65. Liquidating more at .75
SPX ITM calls sold
#SPXcampaign This completes my roll from the ITM call spread that was stopped Friday. I sold these in three batches: 11.80, 12.50, and 14.10
Sold to Open $SPX Aug 12 2160/2185 call spreads for 14.10, with SPX at 2172.
Again, this is NOT the best way to play this strategy… but I got stuck with too many call spreads after Brexit and now am managing ATM & ITM rolls until we get a significant pullback. If no pullback comes, I will be rolling mysteries higher until I’m out.
NUGT adjustment
Sitting on an August 125/200 strangle from a rollout that only brought in 2.90 net after the roll. Making a delta adjustment and adding some premium to make it seem more worthwhile to hold this thing.
Rolled the 200 call down to 170 for 4.15 credit. Still above all time high bringing total strangle premium to 7.05…
Still looking to add some shorter term calls if the chance comes along….
NUGT roll
#ContangoETFs Avoiding going ITM on this one…
BTC NUGT Aug 5th 135 put for 15.00. Sold for 11.60 on 7/6
STO NUGT Aug 26th 100/180 strangle for 15.34
SVXY
STO December 80 covered calls @2.20
NUGT…getting out of the way for now
Bought to Close NUGT JUL 22 2016 135.0 Put @ 6.10 (sold for 3.10)
Bought to Close NUGT JUL 29 2016 190.0 Call @ .78 (sold yesterday for 3.40)
38 cent loss on these so combined with the closing yesterday of this week’s call for a 2.20 gain still a decent week. Not going to ride the put side of this thing into a smoking hole so happy to be out with good profit. Looking to re-sell some calls on a bounce later…
Earnings results
#Earnings MSFT higher but not enough for a juicy profit. Will try to sell half the calls at open.
UAL perfectly flat… hope it stays that way until Friday! Will try to close half with profit today and ride the rest into expiration.
$NUGT taking a hit pre-market,…
$NUGT taking a hit pre-market, I hope it bounces. I had expected to close out my position at the end of this week. Looks like an adjustment is required.
Long stock, short Jul 22 $145 call and $170 call. Closed $140 put yesterday at $2 profit.
VIX Getting hammered pre-market 07:00…
VIX
Getting hammered pre-market 07:00 Hrs
Options Bistro 