$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 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
#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 butterfly, 2 points on either side
$BMY #ShortPuts #FallingKnife – Sold BMY Dec 16 2016 55.0 Puts @ 1.84
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 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 call spread for 1.40 with IBB around 295
$BMY BTO STOCK @61.84 Small position, tight stop, @60.0, yesterday’s low. Just a spec trade.
STO Sep 23 2255/2265 for 1.00
STO Sep 2 2205/2215 for 2.90
#ContangoETFs BTC NUGT Aug 19th 200 call for 1.95 to free up margin. Sold for 16.20 on July 1st.
#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.
#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 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.
#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.
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.
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
Sold to open December 85 calls @6.50
Rolled $NUGT Aug 19 125 puts up to 140 puts for 2.10 credit. Went from 7 delta to 18 delta.
#VXXGame After the bell, these two closing orders filled:
BTC SVXY Jan 2017 30 put for 1.40. Sold for 7.05 on Jan 6th of 2015
BTC UVXY Sept 2nd 58 call for .28. Sold for 1.50 last Tuesday.
VRX valeant pharma reports tomorrow morning. it’s 52 week range is 18-253. Is anybody interested?
$UVXY STO Aug 19 $30 calls @ $0.40
HTZ followed a TT #earnings trade on Hertz, sold a Sept. 16 40/57.50 strangle for 1.25 with HTZ at 47.60 or so.
STO September 9, 55 put @1.40 on 2 contracts.
UVXY sold Aug 19 25 call for .93, was assigned from a 24 put that was profitable earlier last week. My cost basis is now 22.30. I have been under the impression that markets occasionally go down but I’m not so sure about that anymore.
BTC September 68 calls and sold December 75 calls for a credit of 1.80
Decided to close these positions at a profit and release the buying power. I have plenty of exposure to this ticker so I don’t need to bleed this week’s theta.
Bought to close $NUGT Aug 12 200 calls @ .35 (sold for 1.50 on 7/26)
Bought to close $NUGT Aug 12 155 puts @ 4.10 (sold for 6.30 on 8/2)
#Earnings Following trade is VOIDED. Mistake on entry; I did not get these prices so I’m closing for a small loss now, not worth the risk.
Sold to Open $CHTR Aug 12th 215/220/250/255 iron condors for 1.70. Over last 3 years: Biggest 5-DAY UP move: 5.5%, Biggest DOWN move: -8.0%, Average 5-day move: 3.9%. This trade is about 6.3% OTM on each side.
BTC August 19, 60 calls and STO December 70 calls for a credit of 0.25 cents.
STO September 23, 58 put @2.70 to replace some of the puts that expired on Friday. I think this could get to 90 or 95 if the FED does nothing before the end of the year.
Sold NUGT AUG 12 2016 170.0 Call @ 3.00
Paired with this week’s 155 put. Back in the routine now…selling a fairly aggressive strangle in this week and next week. That allows a 2 week rollout of the current week if needed and still collecting big theta while only requiring small margin.
SPX Opening range – 4 point range!?
Posted this last week. Maybe effective after the close today? Not seeing it yet.
$SPX call spread
STO Sep 2 2220/2230 for 1.65
Another day, another rally.
Expired
$SPX 2105/2130 BUPS
$NUGT 150 Call
Expired/Assigned
$PCLN 1305/1355/1355/1405 Iron Condor
Assigned
$MGM 23.5 Call (Covered)
Closed Early (Feeling the Heat)
$SPX 8/12 2225/2200 BECS @ 56% Profit (Lower margin pressure)
$SPX 8/19 2260/2235 BECS @ 68% Profit (Lower margin pressure)
$FB 135/130 BECS @ 85% Profit
$BABA 80/85 BUPS @ 28% (Lowering position size)
$UVXY 30.0 CALLS
$UVXY 28.50 CALLS
$UVXY 31.5 CALLS
$UVXY 30.5 CALLS
$UVXY 25.5 CALLS
$UVXY 25.0 CALLS
$WLL 9.0 CALLS
Have a great weekend everyone.
#OptionsExpiration
–Expiring–
$NUGT 120 put
$SPX 2145/2120 put spreads
$SPX 2125/2100 put spreads
Also, at the close, STO NUGT Sept 2nd 105 put for 3.10.
$NUGT $90 puts
$NUGT $100 put
$NUGT $110 put
$NUGT $200 calls
$NUGT $205 calls
$SVXY $42 puts
$SVXY $45 puts
$SVXY $50 puts
$UVXY $31.5 calls
$UVXY $34 calls
My overall $NUGT exposure keeps dropping every week. Not the right time to be selling many puts or calls so just keep having more positions expire than new positions being opened. Premium in way OOTM options isn’t that great right now and the margin requirements are huge on this thing. Would much rather trade $UVXY and $SVXY when the opportunities arise. #OptionsExpiration
#OptionsExpiration #Weeklys #Aug05 – not a bad week. True to form $SVXY soared on expiration day, making rollups more difficult and less profitable. $NUGT finally fell back from a new yearly high.
No assignments this week.
— Expirations —
CBS (Weekly) Aug 5 2016 50 Puts
NUGT (Weekly) Aug 5 2016 85 Puts
NUGT (Weekly) Aug 5 2016 185 Calls
NUGT (Weekly) Aug 5 2016 190 Calls
NUGT (Weekly) Aug 5 2016 200 Calls
SVXY (Weekly) Aug 5 2016 40 Puts
SVXY (Weekly) Aug 5 2016 56 Puts
SVXY (Weekly) Aug 5 2016 57 Puts
SVXY (Weekly) Aug 5 2016 57.5 Puts
UVXY (Weekly) Aug 5 2016 31.5 Calls (Covered)
UVXY (Weekly) Aug 5 2016 32 Calls (Covered)
UVXY (Weekly) Aug 5 2016 33 Calls (Covered)
UVXY (Weekly) Aug 5 2016 34 Calls (Covered)
UVXY (Weekly) Aug 5 2016 37 Calls (Covered)
UVXY (Weekly) Aug 5 2016 37.5 Calls (Covered)
UVXY (Weekly) Aug 5 2016 38 Calls (Covered)
UVXY(ns)(Weekly) Aug 5 2016 24 Calls
UVXY(ns)(Weekly) Aug 5 2016 16 Calls
$UVXY BTC 8/5/16 28.0 PUT @6.10 STO @3.28 Tired of rolling it out for now, maybe next week.
$UVXY STO 8/12/16 21.0 PUT @ .86 An experiment to incrementally get back monies lost on above trade. We’ll see.
BTO Sep 16 ADBE 97.5 Calls at $3.25
SPX call spread Aug. 31 2225/2235 for 1.00
Well its been an odd week with a few miss steps along the way. On Monday we are moving our daughter to Tallahassee to start Grad school at FSU. So things are shall we say distracting. I did roll out and up my $SVXY Aug 5th 65 Calls to Aug 26th 67 Calls for 0.65 credit. Thanks Option Iceman for the reminder. I didn’t get my Aug 19th 16 Put closed on $FEYE before earnings. My Bad. I will roll it as need be. So I have no expiries to report this Friday. Have a great weekend all.
http://sixfigureinvesting.com/2013/08/next-vxx-reverse-split/
STO Aug 26 $100 put @ $1.65
Only trade I’ve made today.
PCLN For you gamblers, you can probably get a 1435/1445 Aug. 5 call spread for 1.20 or so with PCLN at 1427
SVXY Call spreads Sept 16, 80/85 at 1.10
STO December 85 calls @5.30
New VIX 52-week low was just hit
$SVXY #CoveredCalls #Rollup – another rollup I didn’t think I would have to make.
Bought to close SVXY Aug 5 2016 68.0 Calls @ 1.98 with the stock at 69.92
Sold SVXY Sep 9 2016 70.5 Calls @ 4.84.
At least this new strike price is above the YTD high of 70.15 reached this morning.
#SPXcampaign
Bought to close Aug 19 2040/2015 put spreads @ .20 sold on July 21 @ 1.30.
Time to open more spreads. Have one IC left – Aug 26 2040/2015 put @ 1.40 by 2230/2250 call @ 1.50 going to have to watch the call side with new high at 2180.27.
Thanks, Jeff
$SVXY #CoveredCalls #Rollup – another rollup I didn’t think I would have to make.
Bought to close SVXY Aug 5 2016 67.0 Calls @ 2.98 with the stock at 69.93
Sold SVXY Aug 26 2016 69 Calls @ 4.22.
Earned all the time premium on the 67.0 calls, Raised the strike price 2 Points, and brought in 1.24 credit to pad my cash balance.
It’s all good as long as the stock keeps rising.
Seems to want to stabilize around $155, but Gold is still steadily dropping, I suspect at some point here $NUGT will take another leg down.
New all-time $SPX high
New 52-week $RUT high
All time lows in $VXX and $UVXY
Today’s low so far .05 above 52-week low in $VIX
$NUGT #ShortCalls – getting out ahead of the spilt
Bought to close 1 NUGT JAN 20 2017 105.0 Call @ 70.00
Bought to close 1 NUGT SEP 16 2016 185.0 Call @ 14.80 – may have made a few pennies profit on this one
Yesterday:
Sold weekly PCLN 1305/1355/1355/1405 iron fly @ 42.00. Risking 8 to make 42
Obviously stock blasted through the entire call side so by the close today that side would be at full 50 loss unless there is a massive pullback. At the open today my goal was to close that side for anything less than 50. Anything less than 50 would reduce max loss by that amount. Managed to close the call side for 48.50, reducing max loss down to 6.50. Then, sold a weekly 1405 put for 2.00. Watching that now…if it expires max loss would then be reduced to 4.50. Not bad for an awful trade. Combined with all the other earnings plays so far it’s been a banner earnings season.
I’m now a PCLN bull for the day! LOL
STO October 21, 90 puts @7.70
#SPXcampaign
In pre-market, Bought to close Aug 12th 2080/2055 put spreads for .20. Sold as part of a condor-roll on July 15th.
Bought to close $SPX Aug 18th 2040/2015 put spreads for .20. Sold for 1.30 on July 19th.
Sold to Open $SPX Sept 2nd 2225/2250 call spreads for 1.60. I sold this spread on Monday as well… wanted to use the 2230 short for my second spread, but since I could only get about 1.10, I just doubled up on the 2225.
$NUGT – nice pullback
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…
@fuzzballl, did Dan exit his $FEYE trade before it tanked just now?
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…
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 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.
#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.
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.
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 SPX spread for tomorrow??
#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.
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.
Bought to Close NUGT AUG 5 2016 155.0 Put @ .70 (sold for 5.40 after multiple roll ups to capture additional premium)
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
Anyone looking at a put or put spread sale on this thing?
Options Bistro 