PCLN earnings were moved to TONIGHT after close
Monthly Archives: August 2016
TSLA earnings
Bought to close TSLA 210/225/225/240 iron fly @ 6.23 (sold for 10.90)
Interesting…I was watching some tastytrade replays last night and at one point they were showing the TSLA options chain earlier in the day. This particular position was going for over 12 bucks. They commented this morning about how volatility was coming out of TSLA all afternoon…still feel like normally you’re better off waiting until last minute to set these to keep them centered…
PCLN, TSLA, REGN
#Earnings Looking like a good morning for neutral trades on earnings… not much movement. I love the smell of IV-suck in the morning.
GM to all
GM to all
Good morning
I have been building up my cash balances in my accounts so I need a nice correction in late August or September. I was thinking that a sacrifice of a few politicians would help my positions.
VIX Indicator and SPX Position…
VIX Indicator and SPX Position Chart are updated. Have a good evening everyone!
SPX calls sold
#SPXcampaign Sold to Open $SPX Aug 24th 2200/2225 call spreads for 2.80, with SPX at 2163.
SVXY
STO December calls:
85 calls @3.60
90 calls @2.60
TSLA iron fly
Sold 210/225/225/240 @ 10.90. Risk 410 to make 1090. On my phone so not sure if I’m liking this but can’t resist. Lol
Good luck!
TSLA-too risky for me but…
TSLA-too risky for me but at TT there is a posted Aug. 5 195/225/225/237.50 for 11.50 credit, interesting trade.
#earnings TSLA Aug. 19, 190/200/250/260…
#earnings TSLA Aug. 19, 190/200/250/260 for 1.80 with TSLA at 227.
$SRPT #ShortStrangle – Sold SRPT…
$SRPT #ShortStrangles #Speculation- Sold SRPT AUG 19 2016 55.0 Calls / SRPT AUG 19 2016 7.0 Puts @ 0.90 Credit
The call is the highest available.
PCLN iron butterfly
#Earnings Sold to Open $PCLN Aug 19th 1340/1360/1380 iron butterfly for 18.75.
This trade will profit if PCLN is between 1341 and 1378 two weeks from Friday. It will also be possible to leg out of there are any wild swings between now and then. Low probability, low risk (max risk 1.25). If it moves big tomorrow, it will then have time to drift back to the mean.
REGN earnings double diagonal
#Earnings Bought to open a double diagonal on REGN for earnings for 1.40.
Sold Aug 5th 420/460 strangle for 9.30.
Bought Aug 18th 410/470 strangle for 10.70.
This gives 6% downside and 8% upside for breakevens, assuming exiting full trade by this Friday (trade was entered earlier when REGN was higher). Max gain and risk depend on IV drop tomorrow, but looks to be about risking 1.2 to make 1.
Over last three years on earnings: Biggest UP move: 7.4%, Biggest DOWN move: -6.3%, Average move: 4.1%.
Fun with NUGT
Bought stock at 163.50 on the morning drop. Sold for 167.50 on the bounce. Seems like this thing always recovers a little after an opening drop…
Closing NUGT strangle
Taking this week’s strangle off for a small profit. Just taking some risk off since I’m overweight this ticker.
Bought to close $NUGT Aug 5 100/170 strangles @ 5.43. Sold for 5.86 on 7/22.
EA earnings
Out most of the day today so bought back the iron flies for 1.60. Sold for 2.40. I’ll take it for a little overnight quickie. Hoping to get a chance to do something in TSLA or PCLN later.
PCLN earnings analysis
#Earnings $PCLN Over last three years, Biggest UP move: 11.2%, Biggest DOWN move: -9.6%, Average move: 5.8%. To be outside the biggest moves, with stock at 1370.00, you’d need the 1215/1525 strangle, about 3.00. To be at the average move, the 1290/1450 strangle… about 20.00 (too risky). A condor somewhere between the max and the average may be best bets. Other thoughts?
Here is the history:
May 4, 2016 BO -7.50%
Feb. 17, 2016 BO 11.24%
Nov. 9, 2015 BO -9.56%
Aug. 5, 2015 BO 5.23%
May 7, 2015 BO -4.00%
Feb. 19, 2015 BO 8.46%
Nov. 4, 2014 BO -8.41%
Aug. 11, 2014 BO 2.16%
May 8, 2014 BO -2.09%
Feb. 20, 2014 AC 2.54%
Nov. 7, 2013 AC 4.91%
Aug. 8, 2013 AC 3.87%
TSLA earnings analysis
#Earnings Over last three years, Biggest UP move: 14.3%, Biggest DOWN move: -14.5%, Average move: 7.9%. To be outside the biggest moves, with stock at 228.46, you’d need the 195/262.5 strangle. No premium there. To be at the average move, the 210/247.5 strangle… about 2.40.
Considering the options. Maybe a wide iron fly? Iron condor at the average? Share your thoughts!
Here is the history:
May 4, 2016 AC -4.95%
Feb. 10, 2016 AC 4.73%
Nov. 3, 2015 AC 11.17%
Aug. 5, 2015 AC -8.88%
May 6, 2015 AC 2.76%
Feb. 11, 2015 AC -4.66%
Nov. 5, 2014 AC 4.43%
July 31, 2014 AC 4.46%
May 7, 2014 AC -11.30%
Feb. 19, 2014 AC 8.43%
Nov. 5, 2013 AC -14.50%
Aug. 7, 2013 AC 14.34%
$UVXY #ShortCalls #VXXGame – Sold…
$UVXY #ShortCalls #VXXGame – Sold UVXY Aug 5 2016 33.0 Calls @ 0.24.
These expire Friday and are partially hedged by long stock
$UVXY
STO Aug 5 $31.5 calls @ $0.35
$NUGT #ShortPuts #IRA – bought…
$NUGT #ShortPuts #IRA – bought these two positions back at minimum value with no commission. This frees up cash in an IRA for other puts sales.
Bought to close 1 NUGT SEP 16 2016 29.0 Put @ 0.05 – originally sold for 2.50 on 05/19/2016
Bought to close 1 NUGT SEP 16 2016 28.0 Put @ 0.05 – also sold for 2.50 on 05/19/2016
So almost a $500 gain on a $5200 cash basis (taking into account the premiums up front) in 2.5 months. Not bad 🙂
I wish they were all this easy.
tastytrade iron fly research…
Quite a few segments on these. Think I’ll review a few tonight.
https://www.tastytrade.com/tt/learn/iron-fly
SPX puts closed
#SPXcampaign Bought to close $SPX Aug 12th 2050/2025 put spreads for .40. Sold for 2.75 on July 8th. This was an over-sized position that I didn’t want to leave out there now that the market has shown some volatility. A successful roll in my build-back of call spread losses.
SOME TRADES:
$UVXY STO 8/5/16 28.50 CALLS, Put the order in, went to the Vet with my cat, came home, saw I was done, and $UVXY up 2.5 points. ;>( Sold it against a 28.00 rolled out PUT.
$UVXY STO 8/5/16 31.50 CALLS @,42
$UVXY STO 8/19/16 41.0 CALLS @1.08
FIT earnings
Trying for the weekly 11/13/13/15 iron fly @ 1.30. Risking 70 to make 130 per fly. Expected move of 1.55 so selling just outside that. Possibility of a huge IV collapse on this one.
EA earnings
Trying for the weekly 74/77/77/80 iron fly @ 2.45. Risking 55 to make 245 per fly. Expected move of 3.90 but selling 3 wide so need a small move.
NEM…hey Jeff check it out
Similar to what we were talking about the other day…is this trade too late?
NEM Oct 2016 $45/$49 Diagonal Call Spread for $2.60 or better when NEM was trading at 45.44
Stop: 37.8 Stock Below (Stop at 37.8 )
Legs:
Buy 1 Oct 21 45 NEM Call
Sell 1 Sep 16 49 NEM Call
SPX calls closed
#SPXcampaign Bought to close $SPX Aug 3rd 2190 calls for .05. Sold as the 2190/2215 spread for 3.10 on July 22nd. Closed for margin management only.
SPX calls sold
#SPXcampaign Sold to Open $SPX Sept 2nd 2225/2250 call spreads for 1.40, with SPX at 2156.
SRPT…premium too good to pass up
As thomberg pointed out this morning…premium is through the roof on this thing. I’ve gotta give it a shot but defining my risk (remember CLSN or was it CLDX?)
Sold SRPT SEP 16 2016 12/10 Bull put spreads @ .80
$UVXY #ShortCalls – climbing the…
$UVXY #ShortCalls – climbing the ladder for this week’s expiration
Sold UVXY AUG 5 2016 38.0 Calls @ 0.21
UVXY…no naked for Fuzzy
Promised myself I wouldn’t go naked on these anymore. Got squeezed pretty hard in Aug 2015 and a little last January. Didn’t like the feeling and it caused me to miss some really good opportunities in other places (like shorting VIX futures). Keeping these in an IRA and spreading a little closer to the money but no margin issues even if this thing goes to 100 again. Rolling strategy is to leave enough room to roll and widen slightly to allow a credit roll. This worked great during the Aug 2015 spike. Held a Dec 50/60 through that entire thing with no worries at all. Only regret was not selling more while they were in the money.
Sold to Open UVXY OCT 21 2016 40/50 Bear call spreads @ 1.00
I’ll sell more at the same strikes as UVXY rises…margin required is still the same so might as well be more aggressive on the sales.
$UVXY
Got another fill, STO Oct 21 $55 call @ $4.30
UVXY calls… in play again!
#VXXGame starting in with some highest strikes:
STO UVXY Aug 26th 58 call for 1.15
STO UVXY Sep 2nd 58 call for 1.80
STO UVXY Sep 9th 58 call for 1.80
STO UVXY Oct 21st 55 call for 4.25
Only a wee-bit covered since I have only 60 shares of stock.
SPX closures
#SPXcampaign Bought to close $SPX Aug 18th 2235/2260 call spreads for .60. Sold for 1.25 on July 18th.
Bought to close $SPX Aug 12th 2035/1985 put spreads for .60. These were told as two spreads, 2035/2010 for 1.30 on July 13th, and 2010/1985 for 1.25 on July 11th. Closing at once and a bit early to ease margin pressure should we continue dropping.
$UVXY $SVXY $NUGT
STO $NUGT Aug 19 $110 put @ $1.05
STO $SVXY Aug 12 $52 puts @ $0.50
STO $UVXY Aug 5 $34 calls @ $0.30 (was early on these)
STO $UVXY Aug 26 $58 call @ $1.05
STO $UVXY Sep 2 $58 call @ $1.50
STO $UVXY Sep 9 $58 call @ $1.80
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Aug 5 2016 56.0 Puts @ 0.35. These expire Friday. Or I will take assignment.
I just sold stock yesterday @ 66.80
$UVXY #CoveredCalls #IRA – forgot…
$UVXY #CoveredCalls #IRA – forgot one – Sold UVXY AUG 5 2016 32.0 Calls @ 0.56.
Will roll if required, but no margin issues
$UVXY #ShortCalls #VXXGame – these…
$UVXY #ShortCalls #VXXGame – these are all at the highest available strikes with the risk spread out to different expiration periods and all small trades. But I can’t pass up on the chance to sell.
Sold UVXY AUG 19 2016 60.0 Calls @ 0.63
Sold 1 UVXY AUG 26 2016 58.0 Call @ 1.10
Sold 1 UVXY SEP 2 2016 58.0 Call @ 1.50
Sold 1 UVXY SEP 16 2016 56.0 Call @ 2.36
Sold 1 UVXY OCT 21 2016 55.0 Call @ 4.05
Sold 1 UVXY MAR 17 2017 60.0 Call @ 7.70
$UVXY #CoveredCalls #IRA – since…
$UVXY #CoveredCalls #IRA – since these can easily be rolled, and are covered, I sold all these today with the stock between 27 and 27.50.
UVXY AUG 5 2016 31.5 Calls @ 0.54
UVXY AUG 5 2016 34.0 Calls @ 0.29
UVXY AUG 5 2016 37.0 Calls @ 0.17
UVXY AUG 5 2016 37.5 Calls @ 0.19
These will probably expire in 3 days
SVXY
STO December 32 puts @1.90
UVXY calls
Following trade from @optioniceman from yesterday.
Sold $UVXY Aug 12 58 calls @ .24. Highest strike.
PCLN and TSLA
Maybe this volatility coming in will help with earnings trades premium tomorrow. Today looks better than yesterday now. PCLN iron fly selling for 55 bucks on a 70 wide. Risking 15 to make 55 on a slightly less than expected move. MMM now showing 78. Maybe super wide iron condor the safer play? Still looking at TSLA….hopefully Jeff will take a look at these before the close tomorrow.
SRPT saw a trade at…
SRPT saw a trade at TT on this ticker. Premium seems to be really high, scary high, temptingly high…
UVXY…I was mad
Did this as an anger trade…LOL (not really…just irritated). Was starting to look like this thing was gonna go right back to single digits without a chance to do anything. Right after the split I sold Sep 35/45 bear call spreads for 1.55 on a rare uptick.
Bought ’em back today for 1.05 since they are a little too close for comfort and volatility looks to be perking up a little. Made some beer money and looking to re-load higher…
SVXY
STO December 40 puts @3.20
NUGT
STO 2, August 12, 155 puts @6.30
I am short enough calls so would like to get long some stock to have a covered call position instead of naked calls.
Market
Finally starting to see some selling in the market now. Will be looking for entries to sell some $UVXY calls.
NUGT reverse roll
Next week expiration:
Bought 1 180 call and sold 2 155 puts for 1.52 credit. Overall NUGT position still short but playing this breakout with shorter term puts. Still strangles for Aug and Sep with calls that are in the money now. I’ll see how these puts play out before any aggressive rolls on the put side of those strangles…
CMI #earnings closed August 5…
CMI #earnings closed August 5 iron condor for .84 sold yesterday for 1.51.
NUGT…inverted?
Great review of the tastytrade inverted strangle strategy this morning. May try it on one of my NUGT positions…
Good Morning
NUGT TOS Active Trader tab
Lost 33 dollars playing with NUGT in the TOS Active Trader tab. Seems like some interesting possibilities once you get the hang of it…
STX #earnings bought an Aug….
STX #earnings
bought an Aug. 19 33 call and 26 put, playing a big move, 1.03 for the call, .19 for the put, have an in the money covered call position for August as well
TRADES:
$CY STC STOCK @11.63 Was making me nervous. ;>)
$CY BTC 8/19/16 12.0 CALLS @.35 Made 55% of the premium.
$SVXY STO 8/ 5/16 68.5 CALL @1.10 Will make this a buy/write if stock moves up by Friday.
$UVXY #ShortCalls – Sold UVXY…
$UVXY #ShortCalls – Sold UVXY Aug 12 2016 58.0 Calls @ 0.24. Only 9 more trading days until expiration with the stock at 25.
Highest available strike
$XOM $RIG #ShortPuts #FallingKnife -…
$XOM $RIG #ShortPuts #FallingKnife – sold these on the oil weakness
Sold XOM Aug 26 2016 80 Puts @ 0.37 – these have only a few weeks until expiration
Sold $RIG Nov 18 2016 7 Puts @ 0.29 – longer term with the strike below the YTD low
DIA followed a TT trade,…
DIA followed a TT trade, Sept 16 long put spread 185/181, it will go down sometime before the middle of September-right?
CMI #iron condor Sold an…
CMI #ironcondor
Sold an Aug 5 115/105/124/126 condor for 1.51. I set it up as a jade lizard and added the long put for margin, profitable between 113.50 and 125.50, a little risky.
Gold doing nothing, $NUGT’s got…
Gold doing nothing, $NUGT’s got mojo, go figure.
SVXY
STO September 2, 57 put @2.60 and 58 put @2.80
STO December 35 put @2.10
SPX puts sold
#SPXcampaign Sold to Open $SPX Aug 18th 2110/2085 put spreads for 2.50. This order filled at the low tick of the day, 2166.
$SVXY #CoveredCalls #ShortCalls – responding…
$SVXY #CoveredCalls #ShortCalls – responding to margin pressure in my account I made the following moves:
Sold SVXY @ 66.80
Rolled SVXY AUG 12 2016 61.0 Calls @ 7.12 to SVXY JAN 19 2018 95.0 Call @ 10.00 for a 2.88 Credit.
That will leave the long term calls short but with a strike price near the all-time high on the stock.
$NUGT
STO Aug 12 120/230 strangle @ $2.45
NUGT roll
Was short this week’s 155/165 strangle from a roll last week. Don’t want to let the call get in the money so rolled to next week’s 180 call for even. Leaving this week’s 155 put where it is for now. Position is about delta neutral. Watching for now…
Rolling up NUGT put hedge
Rolled Aug 19 110 puts up to Aug 19 125 puts for 2.20 credit.
$VIX $SPX – http://www.bloomberg.com/news/articles/2016-08-01/insuring-against-a-market-selloff-just-keeps-getting-cheaper
$VIX $SPX – http://www.bloomberg.com/news/articles/2016-08-01/insuring-against-a-market-selloff-just-keeps-getting-cheaper
BMY earnings closed
#Earnings STC $BMY stock for 75.98. Sold a condor on earnings for 1.06… closed most at a small loss on Friday but kept some stock, sold now at 75.98 (cost basis about 75.60). Trade now break-even overall.
CMI earnings
#Earnings The $CMI Aug 5th 112/132 strangle is an option… Over last 3 years, CMI’s 5-day moves after ernings: Biggest UP move: 8.6% , Biggest DOWN move: -7.7% , Average move: 5.2% . Ten points OTM is about 8.2%, so some risk but a decent shot if you’re comfortable with naked options. Or you cold try a condor, maybe one strike closer, but that’s pretty low premium.
SPX trades
#SPXcampaign Sold to Open $SPX Sept 2nd 2040/2115 put spreads for 1.35.
Bought to close $SPX Aug 12th 2235/2260 call spreads for .30
Happy August & good morning from San Francisco!
My wife ran the SF marathon on Sunday… new personal record: 3:22:59… 1st place among women 45-49. So proud of her! Next up: Boston marathon next April.
Options Bistro 