$NUGT $80 Puts
$NUGT $85 Put
$NUGT $110 Put
$NUGT $130 Put
$NUGT $137 Put
$NUGT $175 Call
$NUGT $220 Call
$NUGT $250 Call
$SVXY $40 Puts
$SVXY $45 Puts
$UVXY $30 Calls
$UVXY $34 Calls
$UVXY $60 Calls
Have a great weekend everyone,
Kelly
Daily Archives: Friday, August 19, 2016
NUGT
I am finally long some NUGT stock against some naked calls. Have a nice weekend to everyone.
LOW and RGLD earnings
#Earnings #SpreadConversion That’s a new hashtag I just made up for converting an ITM credit spread into a stock position.
LOW original position: 79.5/81.5/83.5 iron butterfly for 1.48. Exited some more LOW stock at 77.75 (cost basis 77.10). Closed remaining long puts, so will be assigned on more with cost basis of 77.50.
RGLD original position: 87.5/85 put spreads for 1.25. Sold my long 85 puts for 1.82 (avg price). Will be assigned stock via 87.5 puts, cost basis will be 84.43.
Won’t take much to recover with profits from both positions, despite having a max loss if I’d allowed to expire as spreads.
#OptionsExpiration for Aug 19 Expiring:…
#OptionsExpiration for Aug 19
Expiring:
$AMZN 08/19/2016 730.00 puts
$CAT 08/19/2016 72.50 puts
$KMX 08/19/2016 57.50 puts
$NFLX 08/19/2016 100.00 calls
$NFLX 08/19/2016 82.00 puts
$NUGT 08/19/2016 135.00 puts
$NUGT 08/19/2016 130.00 puts
$NUGT 08/19/2016 235.00 calls
$SVXY 08/19/2016 45.00 puts
$SWKS 08/19/2016 57.50 puts
$TLT 08/19/2016 137.00 puts (covered by short stock)
$TLT 08/19/2016 145.00 calls
$WYNN 08/19/2016 95.50 puts (covered by short stock)
Assignments:
$CAT 08/19/2016 70.00 calls (going short more stock)
$SVXY 08/19/2016 60.00 calls (small portion of my large long position being called away)
August 19 expirations
IRA: covered calls on SVXY
60 calls
65 calls
45 puts
Trading account:
NUGT 120 put
NUGT 150 put will be assigned after the battle of Stalingrad
SVXY PUTS: 30,31,32,33,34,35,36,37,38,39,40,45,50,55, which will free up a lot of margin now that Fidelity is at 100% margin on these VIX levered products.
$DUST #ShortCalls #Speculation – Sold…
$DUST #ShortCalls #Speculation – Sold DUST Aug 26 2016 5.5 Calls @ 0.30. Pure speculation and cheaper than shorting NUGT Puts.
If DUST stays in the current trading range, these should expire next Friday or will be cheap to cover
$SRPT #ShortStrangle – I have…
$SRPT #ShortStrangles – I have some strangles expiring today. Adding some for next week.
Sold SRPT Aug 29 2016 10.0 Puts / SRPT Aug 29 2016 41.0 Calls @ 0.55 Credit with the stock at 25.79
Market
These summer Fridays are boring. My only option assignment that may happen is my short put on NUGT at the 150 strike. The open interest is only 30 contracts but there is a mighty battle going on into the close at 150.
DBA I bought 100 shares…
DBA I bought 100 shares at 20.87 of this slow mover.
$NUGT
With as weak as $NUGT has been this week, decided to add some short calls for next week.
STO Aug 26 $190 calls @ $0.75
It’s that time again…Mizzou
Starting the big move today for the sophomore year. I’ll be in and out…have a great weekend everyone!
FLO Sep16 $15 Put (FLOWERS…
FLO Sep16 $15 Put (FLOWERS FOODS INC) for $0.55
Sold Put willing to take stock for long term. FLO is trading in 52 week low range, dividend 4.4% with typical daily volume over 1 million.
NUGT…amazing
Oct monthly 70/260 strangle going for 8.20…wow. That’s the high and low strikes.
JNJ Sold a Sept. 16…
JNJ Sold a Sept. 16 iron fly for 3.04 on the 16th closed it today, made .57. Trying to learn how to manage these
NUGT roll
Rolled Aug 26 170 call down to 160 for 3.00 credit (now 160/160 straddle @ 18.15) One of these will go away then we roll and adjust
Rolled Sep 2 175 call down to 160 for 4.50 credit (now 160/170 inverted @ 36.70) Should be a lot of maneuvering room with this one…
$UVXY #ShortCalls – Sold UVXY…
$UVXY #ShortCalls – Sold UVXY Aug 26 2016 28.5 Calls @ 0.16 for next week’s expiration.
SPX rolling
#SPXcampaign Using market timing this morning to execute some rolls. Closed spreads near the lows, now waiting for higher levels to sell the rolls.
Bought to close $SPX Aug 26th 2175/2200 call spreads for 11.00 (in pre-market). Sold for 12.10 on 7/22.
Partial roll: Sold to Open SPX Sept 9th 2140/2115 put spreads for 3.35
2nd half of roll: Will sell SPX Sept 9th 2200/2225 call spreads for 7.75, if it can fill today. If not, will add a contract or come down a strike.
Bought to close $SPX Aug 26th 2135/2160 for 22.25. Sold last Friday for 21.50. This is my continued experiment of rolling out a fully ITM spread, one week and one strike higher at a time. Looking to sell the Sept 2nd 2140/2165 spread for 22.40. Probably can’t get that price, so I will take what I can get and add a put spread to make up the difference.
Crazy LOW trade
#Earnings While selling naked is preferred with a large account, using spreads can give you an effectively naked position… you don’t have to wait for expiration and just take the loss if your spreads end up completely ITM.
Sold partial $LOW stock position for 77.25. Assigned vis 81.5 puts Wednesday night with a 77.10 cost basis.
Also, sold one of my remaining 79.5 puts for 2.25. Will be assigned tonight via my 81.5 puts, cost basis on that batch will be 77.34.
By selling your ITM long puts, you leave yourself to be assigned on your newly naked puts, but at a very low cost basis. I’ve already exited some of the trade with a small profit… will wait for more recovery to take better profits on the rest of the stock.
Expired SPX
#SPXcampaign #OptionsExpiration Expired at this morning’s open: $SPX Aug 18th 2110/2085 put spreads. Sold for 2.50 on Aug 1.
SVXY
We are still in the trading range of 70 to 74 that we have been in for the last 2 weeks. I don’t have anything to do today so may go to the gym early. The VIX is still in contango.
$SVXY #CoveredCalls #OptionLadder – a…
$SVXY #CoveredCalls #OptionLadder – a couple of large rollups on the opening tick. I split a large short position expiring today into two new positions with different expiration dates.
Bought to close SVXY Aug 19 2016 70.0 Calls @ 3.30 / Sold Sep 16 2016 75.0 Calls @ 3.40
Bought to close SVXY Aug 19 2016 70.0 Calls @ 3.32 / Sold Sep 23 2016 75.0 Calls @ 4.38
Both trades are cash flow positive, adding to my cash balance, and this moves the strike price up 5 points, above the YTD high of 74.16.
I might have been able to do better by waiting but at least it’s a big position I don’t have to watch today.
SVXY roll
My last one. BTC August 19 55 call and STO December 60 call for a credit of 0.80 cents
DBA is an agricultural commodities…
DBA is an agricultural commodities ETF. I may be wrong, but it appears to be slightly above 20 year lows reached in February. Options are thinly traded, may take a position.
Options Bistro 