Double Calendars have been disappointing on this earnings season. I don’t know if it is because of the IV levels or because the movements have been not big enough. All I know is that none of the DC I’ve used have produced good profits; the ones that worked produced very low profits. Most didn’t work and lost me money.
Jeff, please read my post in Skype…
Daily Archives: Thursday, August 4, 2016
@fuzzballl, did Dan exit his…
@fuzzballl, did Dan exit his $FEYE trade before it tanked just now?
PCLN…pushing my luck
It’s been a record setting earnings season so I’m pushing it one more time…
Sold weekly PCLN 1305/1355/1355/1405 iron fly @ 42.00. Risking 800 to make 4200. Short strikes centered at about the mid point of today’s range. MMM has dropped a little today so selling just inside that. 50 wide with a 66 move priced in. Win or lose I’ll be smiling!
Also…protective wings at a cluster of moving averages on the downside and the year high on the upside. Still, all bets are off with this thing! Could go anywhere…
Bill Gross…funny!
Saw this on Seeking Alpha:
http://www.cnbc.com/2016/08/03/investing-in-gold-big-players-put-money-into-the-precious-metal.html
Guess it’s time to sell gold if his track record is any indication. LMAO!!
http://www.aol.com/article/2009/02/26/bill-gross-the-747-billion-bond-man-declares-the-death-of-equ/1472266/
Notice the date he declared equities dead…about a week before the bottom…hahaha!
$SVXY #CoveredCalls #Rollup – one…
$SVXY #CoveredCalls #Rollup – one of many rollups I’m doing in various accounts for SVXY.
Bought to close SVXY Aug 5 2016 64.0 Calls @ 3.67
Sold SVXY Sep 23 2016 70.0 Calls @ 5.20 for a 1.53 Credit plus 6 points on the strike price.
This trade puts the new strike price above the YTD high on SVXY.
In this account I’m using a 3:1 overwrite strategy with an #OptionLadder approach. So if SVXY collapses again I’m not likely to get hurt to the downside unless the stock stays down for more than 6 weeks. For each individual week I only have calls outstanding on 50% of my long stock. I roll that position each week out to a week that I have no exposure in, at successively higher strike prices.
At some point I will start letting some of my stock go and switch to selling puts.
SPX calls closed
#SPXcampaign Earlier I closed the Aug 5th 2200 calls for .05 to clear up margin. A double-sized position that was sold as part of the 2200/2225 spread in two phases: for 1.30 on July 28th, and last week as part of a condor-roll for 1.49.
NUGT inversion
As an experiment I went inverted on my NUGT August monthly position a few days ago. Can’t remember what it started out as but I’ve been rolling the put side up all along against a short 155 call. Finally took the inverted plunge just to see how it works.
Position is now 165put/155call inverted strangle for net premium of 21.70. I can see a few different scenarios so here’s what I’m considering:
1. Stock closes outside the strangle then one side will expire. At that point I’ll roll the other side up or down as far as I can for even and then sell the other side. Hopefully can get the entire thing “un-inverted” and have credit jacked up close to 30.
2. If the stock closes in between the strikes I’ll let the position go for 10 bucks and pocket the remaining 11.70 that I’ve already collected.
3. Possibly close it at any point in time for something less than 21.70 and then reload a new strangle somewhere else.
PCLN…still debating
After the selling today MMM is down to 67 dollars. I’m looking at something like this:
Weekly 1300/1350/1350/1400 @ 43.00 Risking 700 to make 4300. 50 wide with a 67 move so not sure. Could widen it for better odds but a little higher max loss. No position yet…
any ideas on a bonus…
any ideas on a bonus SPX spread for tomorrow??
REGN double diagonal closed
#Earnings Sold to Close $REGN Aug 5th 420/460 Aug 18th 410/470 double diagonal for 3.00. Bought yesterday for 1.40. A double on this, but thought it might do much better. Premium dropped more than I expected out of the Aug 18th long options.
REGN put spread
Sold REGN SEP 16 2016 400/375 Bull put spread @ 5.20
Went with the spread for this reason:
A series of proposals from the U.S. Centers for Medicare & Medicaid Services related to reimbursements could lead doctors to favor the use of rival eye drugs Avastin and Lucentis, made by Roche Holding AG, Regeneron executives said on a post-earnings conference call.
No matter what happens my worse case scenario is getting the stock 19.80 below current price. Let’s say this passes and REGN drops to 200. With the put spread I’d close the long put at a big gain and take the stock at a big loss but net basis in the stock would only be 219.80. If it doesn’t tank then it’s a nice return.
NUGT mining
Bought to Close NUGT AUG 5 2016 155.0 Put @ .70 (sold for 5.40 after multiple roll ups to capture additional premium)
$PCLN — reloaded
Couldn’t get a fill yesterday afternoon on an IC and now with earnings this afternoon, have reloaded and got a fill.
STO $PCLN Aug 19 1510/1500/1200/1190 IC for 1.55
REGN
Anyone looking at a put or put spread sale on this thing?
PCLN were moved to TONIGHT…
PCLN earnings were moved to TONIGHT after close
TSLA earnings
Bought to close TSLA 210/225/225/240 iron fly @ 6.23 (sold for 10.90)
Interesting…I was watching some tastytrade replays last night and at one point they were showing the TSLA options chain earlier in the day. This particular position was going for over 12 bucks. They commented this morning about how volatility was coming out of TSLA all afternoon…still feel like normally you’re better off waiting until last minute to set these to keep them centered…
PCLN, TSLA, REGN
#Earnings Looking like a good morning for neutral trades on earnings… not much movement. I love the smell of IV-suck in the morning.
GM to all
GM to all
Good morning
I have been building up my cash balances in my accounts so I need a nice correction in late August or September. I was thinking that a sacrifice of a few politicians would help my positions.
Options Bistro 