#CoveredCalls Rolled this week’s 73.5’s out two weeks to monthly 74.5’s at even. Scratching another dollar upside out of it…

EDIT…actually had it in for even but filled at .22 credit. 🙂 🙂

Market levels

Market Momentum – The S&P is 2.8% above its 125 day average. This the furthest its been above this level in 2 years.
Put/Call – Put volume has lagged Calls in the last week of trading by 35%…again a 2 year low
Stock vs Bonds – Stocks have outperformed Bonds by 7.61% the last 3 weeks, indicating a rotation from safety to Risk.

Just a few passing observations going into the holiday rally period..

SPX rolling out calls

#SPXcampaign I was hoping for another day of weakness to get out of an ATM call spread, but the push back to 2210 signals tomorrow could go either way. So I’ve closed it and am now selling several short-term spreads as rolls. All spreads are same position size, so I want the new ones to add up to at least the 7.55 I spent for the stop.

Bought to close $SPX Nov 3oth 2200/2225 for 7.55. Sold for 1.30 on Nov 3rd.
Sold to Open $SPX Dec 2nd 2190/2165 put spreads for 2.55
Sold to Open $SPX Dec 5th 2230/2250 call spreads for 1.55
Sold to Open $SPX Dec 5th 2175/2150 call spreads for 2.15

Need one more spread for 1.30 or more.

$CVS #CoveredCalls – Sold CVS…

$CVS #CoveredCalls – Sold CVS DEC 23 2016 78.0 Calls @ 0.62 early this morning. I could get more for them now.


52 week high in SVXY, 52 week/all-time low in UVXY.

MNK puts

Post-earnings move down this morning. Sold $MNK Jan 20 45 puts @ 1.70. Delta is 22. If assigned in January it would be at a 4 year low for the stock.


SPX puts closed, calls sold

#SPXcampaign Bought to close $SPX Nov 30th 2170/2145 put spreads for .20. Sold for 2.50 on Nov 21st.
Sold to Open $SPX Dec 30th 2280/2305 call spreads for 1.30, when SPX was at 2206.