VIX indicator and the SPX chart have been updated
Monthly Archives: October 2016
SPX call spreads sold
#SPXcampaign STO $SPX Oct 28 2205/2230 put spreads @ 2.85 got in a little later than jeff and moved 5 pts up with SPX @ 2160. Makes this an Iron Condor with 2000/1975 put spreads 1.35 sold Sep 26.
Thanks, Jeff.
NUGT-a current picture of volatility drag
Volatility drag, volatility tax, slippage or whatever else we call it shows up in leveraged ETFs and becomes more apparent the longer the timeline. But the recent implosion in $NUGT is allowing us to see how this effect can play out in a shorter time window:
Using the instrument from which $NUGT is derived, $GDX, if you measure the % gain it would have to achieve to get back to its highs (from around 23.70 right now to about 31.80 on 8/11-8/12) it calculates to around 34%.
If you take 3x the 34% (=102%) that would only get $NUGT back to around 26.25, nowhere near its corresponding high from 8/11-8/12 of 35.80. For NUGT to get back to its August highs from its current level around 13, it would need to add 175%.
This is one of the reasons I’ve been aggressively selling calls at strikes near the August highs on big moves up. It will be very difficult (and will require a much bigger corresponding move in gold and the miners) for $NUGT to challenge old highs.
SPX calls sold
#SPXcampaign Sold an extra call spread above all time highs:
Sold to Open $SPX Oct 28th 2200/2225 calls for 4.50, with SPX at 2163.
$NUGT closing my BuPS Oct…
$NUGT closing my BuPS Oct 07 17/13 for complete loss.
What if’s? From cnbc…a plan…
What if’s? From cnbc…a plan that would bring “2.5 trillion in corporate cash comes home” http://tinyurl.com/zaul7zj brokered by S&P Global.
SPX call spread sold
Nov wk1 SPX 2225/2250 call spread sold for $1.60 when SPX at 2161
Closing some NUGT weekly calls early
Bought to close $NUGT Nov 4 29.00 calls @ .10. Sold for .85 on 9/28.
Bought to close $NUGT Nov 11 29.50 calls @ .10. Sold for 1.00 on 9/30.
Something different!
Looking for something different and saw these two trades on TT. Plays on fading the energy sector.
Broken wing butterfly with XLE and sort of a broken wing iron condor with XOP.
I’m modifying the XOP iron condor for 42/40/40/39 for Nov expiration. This places the breakeven point above the 52-week high for XOP. Sold for 1.20 credit. Max possible loss is 0.80.
The XLE broken wing is interesting, but I’m gonna pass on that one.
Waiting for higher DUST strikes
In the meantime, I just sold some of the pre-split in Jan 2018, at the highest strike available (30, or the equivalent of 150 post-split with DUST at 48.50.
Sold $DUST2 Jan 19 2018 30.00 calls @ 1.50
SVXY
With 16 days to go, BTC October 21, 40 puts @0.05. Sold @ 1.05
SPX calls closed
BTC SPX Oct 7 2195/2205 for 0.20. Sold last week for 0.90.
Closing early as I don’t trust this market in either direction.
77% max profit, so what’s not to like about that anyway!
SPX puts closed
#SPXCampaign BTC $SPX Oct 14 2035/2010 puts @ .20 sold on Sep 26 @ 1.35.
$NUGT #ShortPuts – GLD is…
$NUGT #ShortPuts – GLD is actually flat on the day and GDX is only off a few cents after it’s morning rally failed.
Sold NUGT Oct 21 2016 10.0 Puts @ 0.55
Sold NUGT Nov 18 2016 9.0 Puts @ 0.85
The importance of Monday morning premium
#SPXcampaign On Monday in the first hour of trading, the market was down less than half a percent. I sold the Nov 4th 2235/2260 call spread for 1.40 on an uptick to 2162. 33 days until expiration.
In the first hour today, 31 days to expiration, our intraday high was just below 2162. The same spread topped out at about 80 cents.
I have seen this constantly with call spreads… Monday morning premium is highly elevated, and drops quickly by Monday afternoon. Provided there are no large moves in SPX, theta makes quick work of the premium. This is less dramatic with put spreads, and I have not tested it as much with different expirations (just the 30-35 DTE range).
This is why that I sold that call spread even though the market was down.
$NUGT #ShortPuts – sold these…
$NUGT #ShortPuts – sold these when NUGT broke back under 13 after it’s small morning rally –
Sold NUGT Oct 7 2016 11.0 Puts @ 0.30 – these expire Friday
Sold NUGT Oct 28 2016 10.0 Puts @ 0.70
Sold NUGT Nov 4 2016 10.0 Puts @ 0.90
$NUGT #ShortCalls – Bought to…
$NUGT #ShortCalls – Bought to close NUGT Dec 16 2016 52.0 Calls @ 0.05. They can’t trade any lower.
Sold on 8/26 @ 1.45.
Concerned about Deutsche bank? Here…
Concerned about Deutsche bank? Here is an interesting article…
http://tinyurl.com/zr3feex
VIX Indicator and SPX Chart…
VIX Indicator and SPX Chart have been updated
DUST added
#ContangoETFs Added another DUST Oct 7th 50 call, sold for 1.85 right before bell, at the high of the day.
$GOOGL iron condor
Oct 21 850/840/765/755 IC for 1.02.
This expires before earnings. Sold as separate legs as it didn’t want to sell as the iron condor itself.
Both legs are outside the expected move as shown on Dough.com. Expected move at this time is between about 786 and 823.
SPY VXX DDD GPRO Sold…
SPY VXX DDD GPRO
Sold a VXX Oct 7 33 put for .38. may close it today.
followed from TT-sold a SPY Nov. 18 223/206 strangle for 220.
Rolled Oct. 21 DDD covered 18 call to Nov. 18, 19 call for .47 credit
Closed Oct. 14 GPRO covered 20 call for .15, sold for .30 doing a favor for those playing GPRO short, accepting donations
$NUGT #ShortPuts #IRA –NUGT continues…
$NUGT #ShortPuts #IRA –NUGT continues to fall. Now below 13.
NUGT OCT 7 2016 11.0 Puts @ 0.25
NUGT OCT 14 2016 11.0 Puts @ 0.55
NUGT OCT 28 2016 10.0 Puts @ 0.60
#SPXcampaign BTC SPX 2190/2215 BeCS…
#SPXcampaign BTC SPX 2190/2215 BeCS OCT7 2016 for 0.30 sold it on 9/30 for 3.55. Thank you Jeff for the idea
$UVXY
Nibbled STO $UVXY Oct 14 $22 calls @ $0.45
Closing NUGT calls
I’m using this rather dramatic move to get out of some positions at near full profit, freeing up a bunch of buying power and lowering my upside risk.
Bought to close $NUGT Oct 21 25.00 calls @ .06. Sold for 1.51 on 8/30.
Bought to close $NUGT Oct 28 30.00 calls @ .05. Sold for 1.00 on 9/21.
Bought to close $NUGT Nov 18 15.00 calls @ 2.16. Sold for 14.07 on 8/22 (as a rollout).
Bought to close $NUGT Nov 18 46.00 calls @ .06. Sold for 1.25 on 9/6.
Bought to close $NUGT Dec 16 50.00 calls @ .10. Sold for 3.70 on 7/27.
EDIT: Added some more–
Bought to close $NUGT Nov 18 35.00 calls @ .10. Sold for 1.00 on 9/21.
Bought to close $NUGT Dec 16 17.00 calls @ 1.90. Sold for 19.70 on 8/2 (as a rollout).
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 4th 2010/1985 put spreads for 1.45, earlier when SPX dipped to 2153.
DUST takes the reigns from NUGT
#ContangoETFs looks like these two might be changing hands as to which has the better action.
STO DUST Oct 7th 50 call for 1.10
#TopoftheChain :
STO DUST Nov 18th 60 call for 3.50
STO Dust Dec 16th 60 call for 5.40
$UVXY
STC Oct 07 $15 put for 0.13, sold for 0.65 Sept 23. I plan to sell 16 put when stock slides back down near 16.00 in another hour or so.
$NUGT #ShortPuts #IRA – Added…
$NUGT #ShortPuts #IRA – Added to positions sold this morning
NUGT OCT 21 2016 11.0 Puts @ 0.50
NUGT OCT 14 2016 12.0 Puts @ 0.55
NUGT OCT 7 2016 13.0 Puts @ 0.65
$UVXY
I have an oversized short position, mostly covered with 16, 15 and 18.5 puts over the next 3 weeks. I am debating whether I should sell the last covered puts at 15 or 16 for this week. Maybe wait until tomorrow to see if the downtrend continues. The last few months have shown sharp reversals the following day after a strong move one day. Will history repeat?
$DUST
STO Oct 07 $43.5 call for $2 on pop up last hour.
$NUGT #ShortPuts #IRA – sold…
$NUGT #ShortPuts #IRA – sold these cash backed Puts this morning
NUGT OCT 21 2016 11.0 Puts @ 0.30
NUGT OCT 14 2016 12.0 Puts @ 0.40
NUGT OCT 7 2016 13.0 Puts @ 0.35
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 14th 2220/2245 call spreads for .20. Sold for 1.60 on Sept 14th.
My order to sell a put spread was surprisingly not filled on that drop.
SPX call spreads closed
#SPXcampaign
BTC Oct 7 2200/2225 calls @ .20, STO @ 1.50 on Sep 30
BTC Oct 14 2200/2225 calls @ .20, STO @ 1.45 on Sep 19
More SPX puts closed
#SPXcampaign Bought to close $SPX Oct 20th 1975/1950 put spreads for .20. Sold for 1.30 on Sept 20th.
$UVXY
Hey guy’s, was driving all day yesterday so didn’t get to check on the market at all but I saw that I got 1 order filled.
STO $UVXY Oct 21 $26 calls @ $0.60
SPX puts closed
#SPXcampaign Bought to close $SPX Oct 14th 2025/2000 put spreads for .20. Sold for 2.10 on Sept 9th.
Good morning
It looks like another dull week until the Friday employment report and that may also be a non event.
Econ Calendar week of 10/3/16
SPX puts closed. SVXY trade
#SPXcampaign Bought To Close $SPX Oct 7 2065/2040 put spreads @ .15, sold to open Sep 9 @ 2.15.
Sold To Open $SVXY Jan 17 45 puts @ 2.30. Thanks jsd501
$SPX iron condor closed
BTC $SPX Oct 28 2250/2240/1980/1970.
Originally sold for 1.35 on 9/19. Bought back for 0.55.
This in keeping with closing these at about 60% max profit.
It continues to work! 🙂
StarBucks put sold
SBUX Nov 04 2016 – 53 put sold for $1.13
around 53 there is a decent support and have bounced at this level few times in the past year. earning on Nov 3rd. looks like buy low spot in IRA account.
@TravelinTrader are you on here?
?? Saw your question on OMM…I’ve often wondered the same thing. Still no answer but performance over there can’t be too hot…unless you go in big on the winners and small on the losers…LOL
SPX calls closed
#SPXcampaign Bought to close $SPX Oct 14th 2225/2250 call spreads for .20. Sold for 1.30 on Sept 12th.
SVXY
In my IRA, STO January 45 puts @2.60
SPX calls sold
#SPXcampaign Mondays are a great day to sell the 5-week-out call spreads, even if the market is down a bit. Sold to Open $SPX Nov 4th 2235/2260 call spreads for 1.40, with SPX at 2162.
$SPX weekly iron condor
STO $SPX Nov 18 2250/2240/1980/1970 IC for 2.05.
Will again look to close at 60% max profit.
Expired
$TWLO 63.50 put
$FB 126 put
$UVXY 30 Call (covered)
Assigned
$UVXY @ 18 Basis 16.92
Options Bistro 