VIX Indicator and SPX position chart have been updated
Daily Archives: Tuesday, August 30, 2016
Some Trades
STO $LN 9/16 40 put @ .85
STO $NUGT 9/2 17 call @ .55
STO $NUGT 9/2 19 call @1 (covered)
STO $BMY 12/16 55 put @ 1.67
STO $UVXY 9/9 23 call @.65
STO $SVXY 9/23 put @ 1.25
BTO $FB 10/21 125 call @ 4.5
STO $FB 10/21 120/125 BUPS @1.6
STO $CMG 9/16 405/410 BUPS @1.4
STO $SPX 9/30 2025/2050 BUPS @1.5
Thanks to everyone for their assistance.
$NUGT
If $GDX falls more, the next strong tech support I see is a high volume node at about $24 – about 7% lower, which I guess would be 21% lower for $NUGT. Gold futures might find trendline support about 1.3% lower, if they break fib symmetry at about $1308.
I’m finding a cluster of fib symmetry on GDX just under today’s close, to about $25.11
I’ll look to sell NUGT calls if GDX can claw its way back up to $26.30 26.60.
Thanks to all who share your ideas on this!
NUGT
close many Sept 02 calls: 20C @ 0.35, sold for 2.00 this morning; 21C @ 0.40, sold for 1.75 yesterday; Sept 09 20C @ $1.00, sold for 4.41. After couple strong days down I expect a small rally and will sell again.
$SPX
Closed early
$SPX 9/2 2250/2225 BECS @.12 Sold for 1.35 on 8/2
$SPX 9/16 2270/2245 BECS @.1 Sold for 1.60 on 8/15
$SPX 9/9 2265/2240 BECS @.1 Sold for 1.30 on 8/10
NUGT reverse rolls
Executed the following rolls (puts to calls) to get out of the way of this downward spiral.
Rolled NUGT Sep 16 22 puts out to Jan 20 21 calls for .19 credit
Rolled NUGT Sep 16 21 puts out to Dec 16 21 calls for .30 credit
$ETE
Sold Sept 23rd 17.5 Puts @ 0.45 when $ETE was trading at 18.03. I will take assignment as I currently have no position in this hoglet.
GDX…wow
Just for fun bought an oversize amount of this week’s 25 puts for .10 this morning. Up 150 percent so far…not sure how far to push this one. Maybe through the jobs report?
$NUGT #ShortPuts – Back in…
$NUGT #ShortPuts – Back in it. Sold NUGT Sept 2 2016 17.0 Puts @ 0.35. These should expire Friday
IBB SPX Sold a 270/260…
IBB SPX
Sold a 270/260 Sept. 16 put spread for 1.13, gives me an IC joining a 300/310 call spread.
Follwed Robyn at TT on a put calendar, sold Oct 23 2165 put, bought Oct. 28 2165 put, debit of 17.00,her plan is to close within 2 weeks.
NUGT…rolling and getting smaller
Rolled this week’s short calls down from 20 to 19 for 1.00 credit. Used proceeds to buy back 28, 31, 32 puts that were DITM. Still preserving premium on all the original rolls. So far so good…still concerned a good jobs number on Friday will cause a further drop.
$SVXY
STO Sept 23rd 60 Put @ 1.35 when $SVXY was at 72.95 I’ll take assignment or roll as price dictates. Now back out to raking thatch.
Market
I am bored. We need some volatility.
SPX Puts Bought to Close
$SPX #SPXCampaign – BTC Sep 2 2105/2080 put spreads, a GTC order at today’s open, @ .20. Sold to open Aug 16 @ 1.25.
Jeff, you should watch a…
Jeff, you should watch a few of JC’s videos on earnings trades and how to handle them when they go bad. Very interesting.
$DUST #ShortCalls – Sold 1…
$DUST #ShortCalls – Sold 1 DUST 20/100 Mar 17 2017 12.0 Call @ 1.40 with the stock at 36.74.
This is the old pre-split contract and the effective strike price is 60 on the new stock.
Adding to an existing position since the option only covers 20 shares.
#BPE (new hashtag for Buying power effect) is only 196.11
$CF #CoveredCalls – Sold CF…
$CF #CoveredCalls – Sold CF Oct 07 2016 30.0 Calls @ 0.38 on a jump in CF this morning.
$POT & $AGU were halted following chatter about merger talks according to someone over on OMM
TSLA-5th consecutive down day (3…
TSLA-5th consecutive down day (3 day rule anyone?)
SPX…my first Wed expiration
Bought to Close SPX AUG 31 2016 2190/2195 Bear call spreads @ .20 (sold 24 hours ago for 1.05)
NUGT
BTC 5 NUGT Sep02’16 26 CALL @ 0.10, sold for 0.40 on Friday. Think I’m gonna wait to sell calls again until after the jobs number on Friday… Maybe the number will be awful and NUGT will shoot for the stars!
SPX puts sold
#SPXcampaign Sold to Open $SPX Sept 30th 2050/2025 put spreads for 1.50, with SPX at 2174.
PANW earnings trade
#Earnings Thanks to Bobbie for helping find the strikes….
Sold to Open $PANW Sept 2nd 122/127/155/160 iron condor for 1.25. Over last 3 years, Biggest UP move: 10.6%, Biggest DOWN move: -12.4%, Average move: 6.1%. My short strikes are 11% and 8.6% OTM respectively. Definitely more risk to upside, can try the 157.5/162.50 as an alternative.
$SVXY #ShortCalls #VXXGame – with…
$SVXY #ShortCalls #VXXGame – with little else going on, I put some orders in last night on some leaps on SVXY. I got the first of them off this morning.
Sold 1 SVXY Jan 19 2018 100.0 Call @ 13.80 with the stock at 73.27.
Trying for another one a point higher. TOS tells me the buying Power effect is only 731.45 for the next one.
PANW earnings
#Earnings If the indices and gold look boring again, maybe we can find something in $PANW earnings. It’s average move has been about 6%, although last quarter it had an outlier -12% move DOWN. Considering a condor with shorts at 135 and 148, giving me 1.83, risking 3.17. Breakevens about 6% up or down.
Any other thoughts?
#earnings trade dumb luck Accidentally…
#earnings trade dumb luck
Accidentally placed a BePS on ANF yesterday, closed first thing for a profit of $141. I wish I could say I would have placed the trade anyway, but the trading gods might hold it against me.
Options Bistro 