Interesting…
https://www.tastytrade.com/tt/daily_recaps/2016-08-09/episodes/reversals-after-earnings-08-09-2016
Daily Archives: Tuesday, August 9, 2016
KORS anyone?
By the way…I’ve been a long time supporter of the hometown brewery but recently switched to the silver bullets…so gotta do this. Just one fly…
Sold this week’s 46.5/50/50/53.5 iron fly @ 2.70
Risk 80 to make 270 and once again needing a slightly less than MMM…
$UVXY #ShortCalls – Covered these…
$UVXY #ShortCalls – Covered these positions to free up room to sell shorter term calls expiring this week and next.
Bought to close UVXY2 SEP 16 2016 100.0 Calls @ 0.01
Bought to close UVXY2 SEP 16 2016 105.0 Calls @ 0.01
Bought to close UVXY2 SEP 16 2016 110.0 Calls @ 0.01
All these were sold on 6/13/16 @ 0.84
DIS earnings
Was just getting ready to adjust the strikes up a half point when it filled…
Sold this week’s 93.5/96/96/98.5 iron flies @ 1.93
Risk 57 to make 193. MMM is currently 2.94 so need something slightly less than that…
YELP earnings
Sold this week’s 29.5/32.5/32.5/35.5 iron flies @ 2.39
Risk 61 to make 239. MMM is currently 3.82 so need something slightly less than that…
$SVXY #ShortCalls – while liquidating…
$SVXY #ShortCalls – while liquidating some long stock today, I had to deal with a bunch of Short Calls to relieve Margin pressure. So I did a big rollup.
Bought to close SVXY Sep 16 2016 60.0 Calls @ 14.65
Sold SVXY Jan 19 2018 90.0 Calls @ 15.55
Cash flow positive and much less expensive to carry with the stock in the low 70’s.
My new long term short calls will give me some cover once I return to selling SVXY puts again.
That won’t be for a while, but at least it’s out there.
$UVXY #CoveredCalls #IRA – these…
$UVXY #CoveredCalls #IRA – these are easy to roll if they go in the money (which I hope happens)
Sold UVXY AUG 12 2016 26.0 Calls @ 0.20
Sold UVXY AUG 12 2016 26.5 Calls @ 0.16
Sold UVXY AUG 12 2016 27.0 Calls @ 0.12
Sold UVXY AUG 12 2016 28.0 Calls @ 0.11
Sold UVXY AUG 19 2016 34.0 Calls @ 0.21
DIS Earnings
#Earnings Sold to Open $DIS Aug 12th 94.5/96.5/98.5 iron butterfly for 1.58. Over last 3 years, Biggest UP move: 7.6%, Biggest DOWN move: -9.2%, Average move: 3.3%. This trade profits best if DIS ends week with less than a 2% move either direction.
Max risk .42.
DIS earnings, looking at iron…
DIS earnings, looking at iron butterfly, 2 points on either side
$BMY #ShortPuts #FallingKnife – Sold…
$BMY #ShortPuts #FallingKnife – Sold BMY Dec 16 2016 55.0 Puts @ 1.84
Eminis…transgender trade?
Sorry about the National Enquirer headline…
What I meant to say is I’m taking an Emini trade where I won’t really care which way it goes…LOL It’s in a squeeze but hard to say which way it will go so taking a shot here.
SOLD 2 Sep futures @ 2176.75
SOLD 2 Aug 17 2170 puts @ 9.75
Bought 4 Aug 17 2195 calls @ 4.45
Makes money on any down move and makes money on anything above 2195…unless it gets there quickly before the calls decay. Then call side could make money slightly lower. It’s a loser on anything between 2177 and 2195. If it settles in up in that range I could roll the put side up for a little extra premium.
UVXY Bought back for .49…
UVXY Bought back for .49 Aug 19 25 call sold yesterday for .93
MUR closed Aug. 19 25/30 strangle for .45 that was sold for .90 on 07/29
IBB sold Aug 26 305/315…
IBB sold Aug 26 305/315 call spread for 1.40 with IBB around 295
A TRADE:
$BMY BTO STOCK @61.84 Small position, tight stop, @60.0, yesterday’s low. Just a spec trade.
$SPX call spreads
STO Sep 23 2255/2265 for 1.00
STO Sep 2 2205/2215 for 2.90
NUGT call closed
#ContangoETFs BTC NUGT Aug 19th 200 call for 1.95 to free up margin. Sold for 16.20 on July 1st.
SPX rolls
#SPXcampaign These are the rolls I’ve been dreading. In a case of bad timing, I didn’t close when we hit lows last week and got stuck closing at new highs. I would be holding through this if expiration was any later. I will be piecing together enough rolls to make up the loss.
Bought to close $SPX Aug 12th 2160/2185 call spreads for 19.95. Partially rolled:
Sold to Open $SPX Sept 2nd 2175/2200 call spreads for 14.40.
Long Volatility
#VXXGame Inspired by @optioniceman‘s last post and the new VIX low, I am selling some SVXY calls for the first time in probably a year and also buying some VIX calls:
BTO $VIX Sept 20th 14 calls for 1.80
STO $SVXY Dec 95 calls for 3.50
STO $SVXY Jan ’17 105 calls for 2.50
Earlier:
BTC $UVXY Aug 19th 60 call for .02. Sold last Tuesday for .60
BTC $UVXY Aug 26th 58 call for .12. Sold Last Tuesday for 1.15
$VIX $SVXY – the VIX…
$VIX $SVXY – the VIX index is at 11.03. The 3 year low, going back to mid 2013 is at 10.28.
Don’t know what to make of this but I’m selling some SVXY stock around 74 and buying back my shortest term ITM covered Calls to get closer to an all cash position. I may be early, but there is little time premium left to be made on these covered call positions. Might as well cash out now.
I can always sell puts later.
SPX calls sold
#SPXcampaign Sold to Open $SPX Sept 9th 2240-2265 call spreads for 1.35, with SPX at all-time high of 2186.
Selling these normal campaign spreads 30 days out around 10-delta has been working fine for weeks. I am still dealing with ATM and ITM rolled spreads that are the tough part. More on that to follow.
$YELP earnings trade
Trying to get an iron butterfly for earnings, but having a hard time filling as it is not very liquid.
Attempting to get Aug 19 28/32/32/36 for 3.00. Risk 1 to make 3. Also giving it a week to settle in after earnings. Will let you know if it fills.
Highs and Lows
This is similar to the post I put up last Friday:
New all-time $SPX high
New all-time $NDX high
All time lows in $VXX and $UVXY
New 50-week high in $SVXY
New 52-week low in $VIX
SVXY
Sold to open December 85 calls @6.50
NUGT rollup
Rolled $NUGT Aug 19 125 puts up to 140 puts for 2.10 credit. Went from 7 delta to 18 delta.
Options Bistro 