I spent most of my day with no market access but did get to make a few trades. My timing wasn’t great on these so premium not as good as it could have been, just had to make trades when I could.
STO Aug 19 $130/$175 strangle @ $1.60
STO Aug 19 $137 put @ $1.00
STO Aug 26 $110 put @ $1.05
WMT several WalMart earnings trades over at TT, trying to get filled on an Aug. 26 70/75 strangle
BTC August 26, 50 puts @0.05 with no commission. It was sold @2.33 and that is the last of my exposure on that date.
#earnings I hope this doesn’t get me banned but I bought a Sept 60 call and bought a Sept 50 put for a total of 2.06. WUBA is a Chinese internet ad company.
Position was 180/155 inverted @ 28.70 for this Friday. Using the wild swing today and rolling out 2 weeks and actually getting un-inverted…(is that a word? LOL!)
Closed call side earlier on the selloff and re-sold out in Sep 2nd expiration on the bounce.
Sold NUGT SEP 2 2016 175.0 Call @ 7.00
Rolled 180 put to Sep 2 2016 170 put @ even.
All factored in the new position is now a normal 170/175 strangle for a nice 32.20 premium captured so far. I’ll wait and look to adjust later on. A single strangle next week also that I’ll look to roll out 2 weeks when (if) the time comes. Seems to be working nicely on the staggered 2 week roll schedule.
Not counting the scalp on the calls this morning…I’ll book those.
Sold NUGT AUG 26 2016 170.0 Call @ 5.00
Paired with 160 put for 15.15 total premium on the strangle…
$NUGT #ShortCalls – Sold NUGT Aug19 2016 175 Calls @ 1.05
My short Puts from 137 down to 130 are looking better now.
MLM Martin Marietta Sept 200/210 call spread for 1.80, MLM is at 193
#Earnings $LOW has made an above average move down, making my chances to profit from 81.5 IB pretty slim. Closing the 8.15 short calls for .01, just in case we get a nice rally into Friday.
$PCLN, I have two 20-point IB’s, centered at 1360 and 1370, sold before earnings. These look to be a bust as it started rallying yesterday. Will let these expire and execute for max loss, about 1.30.
$RGLD, I have the 87.5/85 put spread. My only hope was another gold rally off the Fed, which has happened last few times and may have started just now. Still a lot to hope for to get to 87.5.
So, small wins with DIS and REGN, but that’s 2 for 5 on August earnings trades. At least losses are defined!
Check last few bars on one minute chart!
BTO August 19 145 calls @7.5
Volatility dropping…did they leak the “no hike” decision? LOL…they wouldn’t do that!
STO Sep 2 2090/2080 BuPS for 0.70.
This completes an iron condor with 2230/2220 call spread for total 2.20 credit.
The other day he talked about how there are certain tickers that he ALWAYS has a position in. Said he makes the bulk of his money carrying these all the time and constantly adjusting and collecting theta. Most of the ones he mentioned were all the usual suspects….big and liquid.
Seemed like an interesting idea to me. That’s almost how I’ve been trading NUGT lately. Not so worried about selling and expiring….trading it for bigger premium with smaller positions and just planning on doing that indefinitely…(as long as premium stays elevated).
With all this in mind, I’d like to try it in a regular stock. Looking at CMG since it’s not crazy expensive (see PCLN) and offers weeklies. What do you guys think of his theory?
First multiple time frame buy signal of the day…
#ContangoETFs STO $NUGT Sept 9th 120 put for 5.90
Amazing, $GLD damn near flat on the day doing nothing, yet the miners are getting crushed. In the past when we’ve seen this, $NUGT corrects back to match what is happening with gold. Maybe this time Gold catches up (or down in this case) to the miners. Was in meetings most of morning so just now getting to open some trades. Have order in for Aug 19 $130/$175 strangles.
Rolled Aug 19th 65 Call out and up to Sept 16th 70 Call for even less fees.
KInda risky but taking advantage of the drop to close some calls sides of strangles. I’ll re-sell ’em at some point but this is too nice a selloff not to do something…
Bought to Close NUGT AUG 19 2016 155.0 Call @ 3.50 (I’ll re-sell it out in Sep when I roll inverted put side)
Bought to Close NUGT AUG 26 2016 180.0 Call @ 2.75 (sold yesterday for 6.40)
$NUGT #ShortPuts #Rollup – Bought to close 1 NUGT Aug 19 2016 70.0 Call @ 0.01 /Sold 1 NUGT Aug 19 2016 130.0 Put @ 1.11 For a 1.10 credit.
Also sold 2 NUGT Aug 19 2016 175 Calls @ 0.80.
All these should expire Friday
Any chance it closes flat on the day? Dan at OMM says ain’t no way, not even a possibility rates get raised. Gonna be fun to watch!
STO December 90 put @12.10
$NUGT #ShortPuts – Adding on to my earlier play
Sold 1 NUGT AUG 19 2016 135.0 Put @ 1.10 with the stock at 151.27
Sold 1 NUGT AUG 19 2016 134.0 Put @ 1.10 with the stock at 149.72
Sold 1 NUGT AUG 19 2016 133.0 Put @ 1.10 with the stock at 148.19
Done for now. I still have some 130 calls that need to be dealt with this week.
Took this week’s 140 put hedge off for about 50% max profit with NUGT in freefall.
Bought to close $NUGT 8/19 140 puts @ 1.60. Sold for 3.36 on 8/9.
#VXXGame trade in Jan
Sold $UVXY Jan 20 2017 60 call @ 4.10. Highest strike.
$NUGT #ShortPuts – Had some cash to play with in an IRA
Sold 1 NUGT AUG 19 2016 136.0 Put @ 1.10 with the stock at 151.69
Sold 1 NUGT AUG 19 2016 137.0 Put @ 1.30 with the stock at 151.77
I expect these to expire Friday
BTC August 19, 57 call and STO December 57 call even @ 13.44
I sold the balance of my December 85 calls this morning from 5.20 to 5.30 and this completes my covered call position. If the FED does not raise rates I may get called away and if it does nothing I get to keep the premium. Either way, I will be happy.
GM
Options Bistro 