#SPXcampaign Sold to Open $SPX July 22nd 2100/2075 put spreads for 1.50, double-sized position. It seems funny to be selling a put spread at 2100, but there you have it. I think most likely direction over the rest of July is up, but a pullback could be in the cards. If any puts get in trouble it will mean wonderful things for my pressured call spreads.
Monthly Archives: July 2016
$NUGT
#CoveredCalls Roll. BTC July 15 $152 calls @ $10.50 (sold for $15), STO July 29 $155 call @ $20.
SPX Puts sold
#SPXcampaign Sold to Open $SPX Aug 12th 2035/2010 put spreads for 1.30.
NUGT
STO August 26, 80 put @2.10, thanks to Iceman for the idea.
…And SPX Dailys are next
I have been joking for a couple years that we will someday have “Daily” options. No longer a joke…
Closing some puts
#VXXGame BTC UVXY July 29th 25 call for .05. Sold for 1.00 on June 24th. This clears me of all UVXY calls. I now have a small amount of stock and one ITM put.
#ShortStock #CoveredPuts BTC $FB July 22nd 106 put for .05. Sold for 1.70 on June 27th. Will look to replace with a new put on weakness. Earnings are July 27th (AC).
Clearing CMG
Closing last position in CMG. I didn’t want to risk another move down before Friday.
Bought to close $CMG Jul 400 put @ .90. Sold for 4.20 on 6/7.
$NUGT #ShortPuts #Weeklys – Sold…
$NUGT #ShortPuts #Weeklys – Sold 1 AUG 26 2016 80 Put @ 2.10
$SVXY $NUGT
STO $SVXY July 22 $47 puts @ 0.55
STO $NUGT July 29 $110 put @ $2.50
STO $NUGT Aug 12 $85 put @ $1.30
STO $NUGT Aug 26 $80 put @ $2.00
Didn’t get to post this yesterday
Out-a-here!!!
Heading off on short vacation in the morning. No expirations for me until August as I either closed or rolled out. Will be watching by iPhone, but not trading until next week. Here’s hoping for that pull back by then so things will settle down a bit.
Best of trading to you all and see ya next week. @Jeff, keep rooting for that pullback!
$UVXY #CoveredCalls – sold all…
$UVXY #CoveredCalls – sold all the following today
UVXY JUL 29 2016 15.0 Calls @ 0.15
UVXY AUG 19 2016 19.0 Calls @ 0.23
UVXY AUG 26 2016 19.0 Calls @ 0.32
$HUM #ShortPuts #FallingKnife #ScalpTrade -…
$HUM #ShortPuts #FallingKnife #ScalpTrade – Sold HUM JUL 15 2016 140.0 Puts @ .60.
These expire Friday.
Humana was the only stock in the SP500 to hit a new low yesterday.
Market
I was thinking over the weekend about all of the insurance companies, banks, and bond funds that have maturities this year and the level of rates. It makes no sense to buy a 10 year treasury note at 1.40 or an even lower yield. The cash from maturities has to go somewhere and I can only think of the stock market and property. So stocks are the only place to go that is liquid and with no increase in site this year, it looks like a higher market.
Having said that, there is always a black swan event that could happen to give us the correction that many of us want to see. All I do know is that when this ends, it is not going to be pretty.
VIX stabilizing?
Yes, I’m wanting some down side, so of course I’m engaging in some wishful thinking. I do believe we will be above 2200, probably closer to 2300 by year’s end. But when will we get pullbacks? I need one now to adjust my spreads higher. One thing I’m seeing today is a flat VIX. It opened at a new low but rose back to flat with the SPX pullback that started around 9:50 ET. Now as we’re higher, VIX is flat. I’d think less of this if we were down below 12, but 13.60 is not really low. Could this mean some downside or at least stabilization into monthly expiration?
NUGT
Sold one contract of the August 19 120 put @11.50
USO follwed a long put…
USO follwed a long put spread over at TT Sept 16 11/9 for .51 debit
SPX Call spread
STO Aug 26 2210/2220 for 2.15.
How high can she go? Anybody’s guess, but I’m thinking we will get some pullback to around the 2120 level of the breakout before then. Not selling puts yet as I like to wait for the pullback. Sure as I sell them now, I’ll be rolling them or taking losses at the pullback. So, trying to be patient.
Closing UVXY
#VXXGame Closed my last positions that expire after the upcoming 1:5 reverse split on 7/25.
Bought to close $UVXY Jan 20 95 calls @ .18. Sold for 17.00 and 19.00 on 7/8/15 so this will be considered a long term gain for tax purposes.
NUGT puts
#ContangoETFs Bought to close NUGT Sept 40 puts for .40. Sold for 5.40 on May 19th.
Sold to Open NUGT July 29th 120 put for 4.50.
SPX roll call sold
#SPXcampaign Sold to Open $SPX Aug 26th 2180/2200 call spreads for 7.30 as a roll. Crazy, i know, but is it crazier than this bull run? May be stopped out and rolled again if we get much above 2160.
SVXY
STO august 26, 40 puts @1.05 and I think that will be it for today unless there is some event.
Closing FXE
On a bit of a recovery in $FXE, I closed the Brexit trade for a decent profit.
Bought to close $FXE Jul 15 110.00/110.50 strangles for 1.95 (sold for 2.51 on 6/22).
Closing FB
Bought to close $FB Jul 22 104 puts @ .03. Sold for 1.07 on 6/13.
Purple Haze…
With all due respect to Jimi Hendrix, this market reminds me of…
“Purple haze, all in my brain
Lately things they don’t seem the same
Actin’ funny, but I don’t know why
Excuse me while I kiss the sky”
Dow joins S&P…
…in all time highs. Nasdaq not too far behind… Russell is the laggard.
VIX Upside Warning continues
As is the historical norm, more upside is expected after the VIX completes three consecutive closes below the 78.6% Fib line. That happened Friday, and today we’re looking at our 8th rally out of the last 10 days. How much farther we go is hard to tell… Upside Warning usually fires about midway between the bottom and top of the SPX run, but there are fewer examples to draw from when we are in all-time-high territory.
In other news, of course, we should open with a fifth consecutive day of all-time lows in UVXY and the third consecutive one in VXX.
SPX calls stopped
#SPXcampaign Last night before the close: Bought to close $SPX July 29th 2155/2180 call spreads for 7.50. Holding off on rolls until freight train slows. Also have one ITM call spread in August… since it is still a ways to expiry, rolling is still possible if no pullback comes within a week or so. Not ideal to roll ITM, of course, but I left this one behind as I focused on rolling more immediate expiries.
$UVXY #CoveredCalls #VXXGame – two…
$UVXY #CoveredCalls #VXXGame – two fills
Sold UVXY Jul 22 2016 12.0 Calls @ 0.15
Sold UVXY Aug 19 2016 18.0 Calls @ 0.28
#Markets – http://www.zerohedge.com/news/2016-07-11/greed-and-fear-index-soars-highest-2014
#Markets – http://www.zerohedge.com/news/2016-07-11/greed-and-fear-index-soars-highest-2014
NUGT
STO one contract of the August 19, 150 puts @20.70
$UVXY #ShortCalls #ClassicVXXGame – Bought…
$UVXY #ShortCalls #ClassicVXXGame – Bought to close 1 UVXY Jan 19 2018 115.0 Call @ 0.80.
I sold this at 3.60 less than a month ago and it still has 557 days to go until expiration.
SVXY
STO August 19,
45 put @ 1.55
50 put @ 2.55
August 26, 45 put @1.80
NUGT put
#ContangoETFs Adding more to put side as it balances my deltas and gives me a margin credit.
STO NUGT Aug 12th 135 put for 12.60
$NUGT
STO July 22 $250 call @ $1.50, adding to position
Putting a little back to work after last weeks expiration.
SPX stopped out
$SPXcampaign Buy to close Aug 5th 2180/2200 call spreads for $3.05 sold. Sold Jul 8 for 1.25, put side of this iron condor safe, for now, using Jeff’s play book on this one will roll later.
SPX calls sold
#SPXcampaign Sold to Open $SPX Aug 12th 2200/2225 cal spreads for 1.75, with SPX at 2136.
Two Squeeze trades closed: NVDA & GME
Closed NVDA 160722C47.5 for a $3.60 Bought on Thu for $1.98
Closed GME 160729C26 for $2.65 Bought on Fri for $1.58
Nice profit to start the week…..:-)
SPX calls stopped
#SPXcampaign Bought to close $SPX July 29th 2150/2175 call spreads for 8.00. Sold for 5.75 on May 24th. I will be selling rolls on this and others in the coming days.
SOME TRADES: Ditched my $UVXY,…
SOME TRADES: Ditched my $UVXY, $DUST Short calls before the reverse splits, 7/25/16
$UVXY BTC 7/15/16 10.0 CALLS @.05
$UVXY BTC 7/15/16 11.0 CALLS @.03
$UVXY BTC 7/15/16 11.5 CALLS @.04
$DUST BTC 7/15/16 7.0 CALLS @,06
Garnered Approximately 90% of the premiums.
SPX puts sold
#SPXcampaign Sold to Open $SPX Aug 12th 2010/1985 puts for 1.25, with SPX at 2138.
Closing CMG put
Bought to close $CMG Jul 15 390 put @ 1.25. Sold for 4.50 on 6/8.
Reduces my exposure. Still short the 400 for this week.
SPX chart updated… getting pretty…
SPX chart updated… getting pretty hairy on the upside.
This week is $SPX op…
This week is $SPX op ex on Friday and we start earnings reports today…thought we just finished?!
Trade safely…
Bistro VIX Indicator: Upside Warning fired
#VIXIndicator An UPSIDE WARNNG fired on Friday, with three consecutive closes below the Fib 78.6% retracement line (from the recent VIX low of April 20 to high of June 27th). Watch for more upside and new all-time highs in SPX before things slow down or reverse.
We are now also establishing new VIX lows by which to measure the next correction. Friday’s low was 13.19, with a close of 13.20.
Monday’s levels that would reverse course and fire new Downside signals are 16.50 (25% above the 2-day closing low), and 19.79 (50% above July 8th low).
Good morning
Another up day in the market. When will Gartman turn bullish?
Expirations
$NUGT 175 Call
$UVXY 10 Call
Closed Early
$UA 35/40 BUPS 84% profit
Assigned
$SVXY @52.5
Great trading next week for all. Past week a little $SPX shaky.
$NUGT I want to do…
$NUGT I want to do a short $NUGT strangle. I also want the put and call to move the same. E.g., If the stock price moves up, or moves down, I want the change to be the same, e.g., If the stock moves up by 2 points, and the change in the call option is +1.00, then I want the change in the put side to also be -1.00. I don’t want changes in the stock price to necessitate a margin call. Is this possible? Pick stock prices with the same delta? Is my question even clear. I got beaten up once in $NUGT, and have shied away from it since, but want to try and trade it again.
HonkHonk to all. Have a great weekend.
BTC all my 7/8/16 expirations, ($UVXY), so have none, except, $SVXY 7/8/16 49.0 call, stock assigned, called away.
#OptionsExpiration for July 8 $NUGT…
#OptionsExpiration for July 8
$NUGT $65 puts
$NUGT $75 puts
$NUGT $135 put
$NUGT $190 calls
$NUGT $195 calls
$NUGT $200 calls
$SVXY $35 puts
$SVXY $40 puts
$SVXY $45 puts
#OptionsExpiration #Weeklys #Jul08 – A…
#OptionsExpiration #Weeklys #Jul08 – A mostly profitable week. I got out of some extra SVXY stock that I picked up during the Brexit swoon at prices from 44.50 up to 50 at a nice profit.
But I also had to roll some pesky NUGT calls out one more week.
— Expirations —
NUGT (Weekly) Jul 8 2016 60 Puts
NUGT (Weekly) Jul 8 2016 115 Puts
NUGT (Weekly) Jul 8 2016 175 Calls
NUGT (Weekly) Jul 8 2016 210 Calls
SVXY (Weekly) Jul 8 2016 35 Puts
SVXY (Weekly) Jul 8 2016 44.5 Puts
SVXY (Weekly) Jul 8 2016 45 Puts
SVXY (Weekly) Jul 8 2016 60 Calls (Covered)
SVXY (Weekly) Jul 8 2016 62 Calls (Covered)
SVXY (Weekly) Jul 8 2016 64 Calls (Covered)
SVXY (Weekly) Jul 8 2016 65 Calls (Covered)
SVXY (Weekly) Jul 8 2016 67 Calls (Covered)
SVXY (Weekly) Jul 8 2016 69 Calls (Covered)
UVXY (Weekly) Jul 8 2016 10 Calls (Covered)
UVXY (Weekly) Jul 8 2016 10.5 Calls (Covered)
UVXY (Weekly) Jul 8 2016 11 Calls (Covered)
UVXY (Weekly) Jul 8 2016 11.5 Calls (Covered)
UVXY (Weekly) Jul 8 2016 12 Calls (Covered)
UVXY (Weekly) Jul 8 2016 12.5 Calls (Covered)
UVXY (Weekly) Jul 8 2016 22 Calls
UVXY (Weekly) Jul 8 2016 30 Calls
— Assignments —
SVXY (Weekly) Jul 8 2016 53.5 Calls – lightening up on a big long position
SVXY (Weekly) Jul 8 2016 54 Calls – lightening up on a big long position in an IRA
UVXY (Weekly) Jul 8 2016 8 Puts – adding to existing long positions
UVXY (Weekly) Jul 8 2016 8.5 Puts – adding to existing long positions
UVXY (Weekly) Jul 8 2016 9 Puts – adding to existing long positions
Expirations
SVXY
40 puts
45 puts
50 puts
#OptionsExpiration for July 8 Expiring:…
#OptionsExpiration for July 8
Expiring:
$NUGT 07/08/2016 175 calls
$NUGT 07/08/2016 68 puts
$UVXY 07/08/2016 30 calls
No assignments.
Have a great weekend everyone.
No expirations
#VXXGame Asleep at the wheel, forgot about this one until right before close:
BTC UVXY July 8th 11 put for 3.70. Sold for 1.51 on June 20th. I’ll take the loss as I don’t really care to roll UVXY at such a low levels. Bring on the reverse split!
$UVXY #ShortCalls #ClassicVXXGame – Bought…
$UVXY #ShortCalls #ClassicVXXGame – Bought to close UVXY Jan 19 2018 115 Calls @ 0.90. Originally sold @ 3.60 and they have 560 days to run until expiration.
Clearing the decks for the coming split.
NUGT call
#ContangoETFs STO NUGT Aug 12th 250 call for 8.10
$SVXY #CoveredCalls – Sold both…
$SVXY #CoveredCalls – Sold both of these, replacing calls expiring today
SVXY Aug 5 2016 60.0 Calls @ 1.25
SVXY Aug 12 2016 60.0 Calls @ 1.95
SVXY covered call
I rolled my July 22 60 call out to August 65 call for a credit of 0.60
SPX puts sold
#SPXcampaign Sold to Open $SPX July 29th 2075/2050 put spreads for 2.90. This adds to my rolling and also better balances my puts vs. calls ratio.
Rolling $NUGT
Rolled next week’s (7/15) 164 call up and out to 7/29 185 for 1.20 credit.
Then added a put hedge at 15 delta: STO $NUGT 7/29 125 put for 5.30.
So I guess that means I rolled to a 125/185 strangle for 6.50 credit.
$SVXY #CoveredCalls #Rollup – Rolled…
$SVXY #CoveredCalls #Rollup – Rolled these in an IRA
Bought to close SVXY JUL 8 2016 53.5 Calls / Sold SVXY JUL 22 2016 56.0 Calls for a 0.20 Credit
$SVXY #CoveredCalls #Rollup – Rolled…
$SVXY #CoveredCalls #Rollup – Rolled these in an IRA
Bought to close SVXY JUL 8 2016 53.5 Calls / Sold SVXY JUL 29 2016 57.0 Calls for a 0.42 Credit
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY DEC 16 2016 80.0 Calls @ 1.30
$NUGT #ShortCall #Rollup – Rolled…
$NUGT #ShortCalls #Rollup – Rolled this one out a week and up 15 points for an 0.80 Credit.
edit: also Rolled another 160 Call for a 1.10 Credit up to 175
SPX calls stopped
#SPXcampaign Bought to close $SPX Aug 5th 2150/2175 call spreads for 8.50. Sold as part of iron condor for 7.40 on July 1. Since we breached 2130, I will be looking to close 2150/2175 spreads. Just this one for today.
SPX puts sold
#SPXcampaign Sold to Open $SPX Aug 5th 2020/1995 put spreads for 1.40. This is my second standard spread for the Aug 5th expiry. I am holding off on my second call spread for next week.
SPX partial roll
#SPXcampaign Sold to Open a handful of $SPX Aug 12th 2050/2025 put spreads for 2.75, as a partial roll of call spread stopped earlier. I tripled my position size, which is fine since I am heavier calls than puts. This covers a bit more than half of my cost to close the stopped calls; will add more rolls today and next week.
$NUGT hedge
Rolled $NUGT Jul 15 120 puts up to 140 puts for 2.26 credit.
SPX puts closed
#SPXcampaign Bought to close $SPX July 22nd 1970/1945 put spreads for .20. Sold for 1.25 on Tuesday.
SPX calls crushed
#SPXcampaign Got crushed because no pullback would come. I am working on a roll, which will mostly be in puts; with Upside Warning firing today, I anticipate new all time highs next week. On whatever pullbacks we get, I will be aggressive at selling puts and exiting call spreads (but still also selling super high call spreads).
Bought to close $SPX July 29th 2125/2150 call spreads for 13.35. Sold as part of an iron condor for 2.40 on June 27th.
SVXY covered calls
STO January 80 calls@1.90 and 85 calls @1.20
SPX closed July 1970/1945 BuCS…
SPX closed July 22 1970/1945 BuCS for .25, sold for 1.25 on July 5-I love this game!
SPY following Robyn at TT,…
SPY following Robyn at TT, new kind of trade for me. Sold an August 19 207 put, bought a Jan. 224 put for a debit of 14.45, 1.91 credit on the August put. The goal is a 20% ROC this month.
SPX put spread adjustment
Rolled August 31st short 1825 puts up to 1900 for 2.55 credit. Might seem like a big roll but it’s only from delta .03 to delta .08. Still a 90.78 percent chance of expiring according to TOS. Accelerating theta should help protect these on anything other than a major selloff…maybe 🙂
$SVXY
$SVXY Sold To Open July 29th 60 Call @ 0.75. Covered by stock. I will take assignment.
NUGT weekly strangle
Jumping back in for next week….
Sold July 15 2016 125/190 strangle @ 4.60
$NUGT
Looking to replace some puts that will expire today.
STO $NUGT Jul 22 $105 put @ $1.71 (1)
Options Bistro 