VIX Indicator and SPX Position chart have been updated
We almost canceled the Downside Warning today, when the VIX dipped below 13.05 Fib line, but then closed above it. Thursday will tell us if it’s over or if uncertainty will linger.
Daily Archives: Wednesday, September 21, 2016
$AMZN
Waiting for fill on 9/30 765/775 BUPS @ 1.50
SPX I followed a 1…
SPX
I followed a 1 day butterfly from TT yesterday, risked 160 to make 840, needed SPX above 2152. I’ll take it.
UVXY, NUGT
Some GTC orders got filled today:
BTC UVXY Sep30’16 30.5 CALL @ 0.1 (sold for 1.44 early September)
BTC NUGT Sep23’16 19 PUTS @ 0.1 (Sold for 3.00 on 8/31) This was a doubled position roll down and out from some Sep02’16 24 puts. Victory!
SPX calls expired
#OptionsExpiration 9/21/16 (Wednesday Weeklys)
$SPX Sept 21st 2210/2235 call spreads expired. Sold for 3.25 on Sept 6th.
$SVXY
Sold Oct 21st 80 Call @ 1.70 against my long stock with $SVXY trading about 72.30. I’m glad to have the FOMC decision over. It seemed like such a long wait. Glad to get some feeling back into my fingers.
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY Sep 23 2016 76.0 Calls @ 0.20 with the stock at 72.53.
These expire Friday. Either an expiration or an assignment would be a gift 🙂
SPX calls sold
#SPXcampaign Sold to Open $SPX Oct 20th 2230/2255 call spreads for 1.50, with SPX at 2164.
$SVXY #ShortCalls #VXXGame – Sold…
$SVXY #ShortCalls #VXXGame – Sold SVXY Dec 16 2016 95.0 Calls @ 1.65.
Volatility crashing
#VIXIndicator If we close below 13.05 the Downside Warning will be canceled.
SVXY
On the weekly chart I see a head and shoulders bottom and if I am correct ( I have been wrong before), the measured move could go to 95/100.
SPX puts drained
#SPXcampaign The Sept 23rd 2090/2065 put spread i sold 1.70 ninety minutes ago is now going for .25. I love the smell of fear in the markets.
Also: Bought to close $SPX Sept 30th 2010/1985 put spreads for .20. Sold for 1.30 on Sept 1st.
$SVXY #ShortCalls #VXXGame – Sold…
$SVXY #ShortCalls #VXXGame – Sold SVXY NOV 18 2016 90.0 Calls @ 1.20 with the stock at 71.31.
First trade at this strike in this new monthly cycle
$SVXY #ShortCalls #VXXGame – Sold…
$SVXY #ShortCalls #VXXGame – Sold SVXY NOV 18 2016 85.0 Calls @ 2.00 with the stock at 70.24.
First trade in this new monthly cycle
$UVXY
STO $UVXY Sep 23 $23 calls @ $0.33
STO $UVXY Sep 30 $24 calls @ $0.63
STO $UVXY Sep 30 $25 calls @ $0.57
STO $UVXY Sep 30 $27 calls @ $0.40
STO $UVXY Oct 7 $30 calls @ $0.51
VXX calls closed
#VXXGame BTC $VXX Oct 21st 65 calls for .20. Sold for 1.10 on Sept 13th.
NUGT calls
#contangoetfs – Expiring this Friday…
STO NUGT Sept 23rd 24 calls for .35
STO NUGT Sept 23rd 25 calls for .25
NUGT fill
Got filled on an offer I had out there this morning.
Sold $NUGT Oct 28 (weekly) 30 calls @ 1.00.
No change. No surprise.
No change. No surprise.
SPX same-week puts sold
#SPXcampaign Sold to Open $SPX Sept 23rd 2090/2065 put spreads for 1.70, with SPX at 2142. Expire in two days unless the world explodes.
Another RGLD call sold
#CoveredCalls #Earnings Moved up a strike to sell another. Cost basis on stock is about 83.00
Sold to Open RGLD Oct 21st 85 call for 2.45.
SPX puts rich
#SPXcampaign Put premiums on Options expiring this Friday are pretty rich. I’m selling the Sept 23rd 2090/2065 spread… asking 1.80.
I believe today’s announcement will lead to near-term upside. But even if I’m wrong and we drop, I don’t think 2090 is in danger by Friday’s close. If I’m wrong, I will roll.
Playing the FED
Starting at about 1:59pm ET, many of our favorite tickers will start getting nutty. If you like to sell premium, have orders ready on NUGT, UVXY, SPY or SPX, etc as you might get some very good fills with the market reaction to the 2pm announcement.
Couldn’t get in for over…
Couldn’t get in for over a week. Happens from time to time. Why ???
A TRADE:
$UVXY STO 9/23/16 18.50 PUTS @.63 Risky
AZO earnings fill
#Earnings STO $AZO Oct 21st 690/800 strangle for 5.85
UVXY STC Sept 23 $18…
UVXY STC Sept 23 $18 P for 0.44, bought for 0.21 last week. Still have more at 0.31 with sell order at 0.61. Should be profitable pricing leading up to announcement.
SPX calls closed
STC Sep 23 2200/2210 call spread for 66% max profit.
Closed this early as this market could jump if the Fed holds steady today. I sincerely doubt that it would get past 2200 this week, but it is possible and I’ve been burned before by trying to hold too long based on my hopes or wishes or my take on the market. The market doesn’t care what I think, so I’m gonna take the money and run!
AZO, classic earnings trade
#Earnings I call this a “classic” because it is naked selling standard Iceman taught many of us, with my classic earnings trade analysis. There are 31 days until Oct monthly expiration. Over the last 12 reports, AZO’s moves over 34 days: Biggest UP move: 7.1%, Biggest DOWN move: -5.3%, Average move: 3.9%. (Also note that its maximum swings between 1 & 34 days never exceeded these percentages)
If we give room for its largest move of 7.1%, the 690/800 strangle is at least 7.3% OTM on each side. You can sell that strangle for about 6.00. Of course, you have to have the margin power, and you have to be ready in case we get an outlier move.
The safer bet… a 10-wide condor at same short strikes is about 1.75-2.00.
Thar’s gold in dem thar hills
#ContangoETFs STO NUGT Oct 7th 23 call for 1.25
STO NUGT Oct 25th 25 call for 1.25
#CoveredCalls STO RGLD 82.5 covered call for 2.35, adding to my position
SVXY Covered Call
Sold $SVXY Dec 16 85 call @ 3.20
Fed statement at 2pm ET,…
Fed statement at 2pm ET, 11am PT
Options Bistro 