$MYL @CoveredCalls – Sold MYL Jan 20 2017 45.0 Calls @ 0.96 with the stock at 40.01
Monthly Archives: November 2016
/VX VIX futures…book ’em!
Bought to Close Dec /VX @ 16.85 (sold for 17.32 average)
$UVXY
STO Nov 11 $24.5 calls @ $0.40
STO Nov 25 $35 calls @ $0.41
Looking for more opportunities
IBB REGN
Biotech pretty happy with a Trump win…LOL
Tactics?
I am thinking of closing all my $SPX BECS at opening.
Any thoughts?
/ES short call
Bought to Close /ES DEC 16 2140 CALL @ 18.50 (sold for 21.50)
#Futures /GC started post-market at…
#Futures
/GC started post-market at 1268.1 – topped out 1338.3 – now falling
/VX started post-market at 15.1 – topped out at 23.45 – now falling
/ES started post-market at 2152.50 – bottomed out at 2028.50 –
now recovering
VIX Indicator and SPX Chart have been updated
Looks like we’re in for a bumpy ride.
#futures Incredible spike down and…
#futures
Incredible spike down and still going down. Gold up.
Tomorrow will be the proverbial interesting times.
/ES /VX
Took off part my /ES downside hedge yesterday (short future/short put) leaving me with a short Dec 2140 call sold for 21.50. Just for fun I’m shorting a Dec VIX future against this position. One side has to do ok on a big move either way…or…best case scenario is a volatility collapse with no associated market movement.
Can’t resist…gotta do something for the big event this evening. BTW…tastytrade doing a special this evening at 6pm central as first polls close.
SPY My roll of the…
SPY
My roll of the dice for tomorrow Followed at TT Nov. 11 206.50/214/214.221.50 for 3.78 and bought a Nov. 18 214.50 call. Last week I bought an SPX Nov. 9 1950/1900 armageddon put spread for .80.
SPX Position Chart updated
#SPXcampaign I included positions traded today as well. I have not yet connected all the rolls with arrows.
This is my third day straight of closing spreads close to expiry at the worst price of the day. It is quite frustrating, but part of trading. It means I will have to sell more roll-spreads to make up for the huge premium I paid to exit.
I have closed my Nov 9th 2150/2175, but will be leaving on the Nov 9th 2165/2180. One reason is that it is only a 15-point spread, which will mean even if it’s fully ITM it will be easy to roll to my usual 25-point width.
If Trump somehow pulls it out, OR if it is too close to call, we’ll go down… question is, how far and how fast? I want to be clear that I’m not commenting on my political leanings. It is just that the markets have made it clear: a Hillary win is bullish, Trump is bearish. And it seems very likely Clinton will win. If she does, I believe we will rally but I will be looking to fade it. If VIX drops below 13.59 (from the #VIXIndicator), I will look to be bullish.
$SVXY – change in aggressiveness…
$SVXY – noting a change in aggressiveness of the calls buyers. The stock just rebounded back over 74 but while the quote on the Nov 11 78.0 calls was 2.00/2.30 earlier, it is now 1.65/2.20.
As for the potential election move, I think a Clinton win is already baked into the market after yesterday’s big move and this morning’s follow thru rally.
I am positioned with giant SVXY strangles for this week. The closest short Puts are at 59.0 and the closest short calls are at 76.0. Of course I picked up a major new long stock position last Friday at 65 so the call side is not an issue for me.
Unless the market gets frisky late today I’m probably done trading until after the election results are in.
$MYL #CoveredCalls – with the…
$MYL #CoveredCalls – with the stock moving up today –
Sold MYL Nov 11 2016 40.0 Calls @ 0.39
Sold MYL Nov 26 2016 42.5 Calls @ 0.25
$CVS #ShortPuts – so …….
$CVS #ShortPuts – so …. I forgot about an old #FallingKnife order I had in and I sold some CVS Dec 16 2016 75.0 Puts at 5.60 on the opening this morning with the stock at 69.51.
To offset this trade and some old Nov 80 short puts I still have, I sold some calls:
Sold CVS DEC 23 2016 80.0 Calls @ 0.52
Sold CVS JAN 20 2017 80.0 Calls @ 0.97
Sold CVS JAN 20 2017 82.5 Calls @ 0.53
SPX reverse roll
#SPXcampaign The Comey letter on Sunday changed everything, so call spreads sold Friday are getting crushed. I’m rolling this one before it gets ATM, as I cannot risk an explosive rally tomorrow.
BTC $SPX Nov 9th 2150/2175 call spreads for 12.75. Sold for 2.15 on Friday.
STO $SPX Nov 23rd 2085/2060 put spreads for 3.55, 2x position size, as partial roll. I would like to sell the call side of this roll tomorrow.
Head spinning bullishness
#Market #SPXcampaign If Hillary wins tonight, there is the chance of a very large explosion of a rally tomorrow. I am thus rolling out of my Nov 9th 2150/2175 call spread. Been trying to get out since we went positive, but no breaks yet in the move up.
DUST calls
#ContangoETFs
STO DUST Nov 11th 48 calls for 1.10
STO DUST Jan 20th 60 call for 4.50 (highest strike)
SPX calls sold
#SPXcampaign Sold to Open $SPX Dec 9th 2230/2255 call spreads for 1.30, with SPX at 2132.
PCLN
Up 100 today!
$NFLX #CoveredPuts – Sold NFLX…
$NFLX #CoveredPuts – Sold NFLX Nov 11 2016 119.0 Puts @ 0.60.
$SVXY #CoveredCall – Sold 1…
$SVXY #CoveredCalls – Sold 1 SVXY Nov 11 2016 76.0 Call @ 2.50 with the stock at 72.04.
4 days until expiration.
JAZZ earnings
#Earnings STO $JAZZ Nov 11th 95 puts for .90. Working to sell 115 calls, too.
Biggest UP move: 5.2%, Biggest DOWN move: -7.4%, Average move: 2.9%. This trade is 9.5% OTM.
DISH earnings
#Earnings STO $DISH Nov 11th 53/59 strangles for 1.30. Biggest UP move: 6.0%, Biggest DOWN move: -6.3%, Average move: 2.6%. These strikes are both 5.3% OTM.
REGN adjustment
Rolled 355 short call out to next week’s 357.5 @ 1.00 credit. Still short against a Dec 9th 365 put.
CMG adjustment
Rolled 362.5 short call out to next week’s 365 @ even. Trying to get a little closer to the money. Sold against a longer term short put.
$SVXY #ShortStrangles #VXXGame – premiums…
$SVXY #ShortStrangles #VXXGame – premiums are utterly amazing on these instruments the last two days. Went the strangle route this morning –
Sold SVXY Nov 18 2016 45/85 Strangles @ 0.55 with the stock at 71.25 .
Edit: Oops this was the Nov 18 contract. Corrected the post.
Actually not as a great trade but it will still work.
SPX put spreads
Premium high this week.
STO Nov 9 2035/2025 put spread for 0.95
STO Nov 11 2020/2010 put spread for 0.80
These “look” safe, can’t see basically a 90 and 100 point crash in this short time span, but hey, what do I know. I thought my calls were safe yesterday and they weren’t.
CVS
Sold to open, January 65 puts @1.50
When a neighbor calls
#SPXcampaign While working my order to exit the 2120 calls with SPX in the 2125 area, my doorbell rang so I went and answered a question from my neighbor. About 3 minutes away from the computer caused about a $3K loss. Market took off and now I’m letting it exercise. I continue my streak of horrible exits from ATM/ITM spreads!
Exercised: Nov 7th 2120/2140 call spreads for 11.50. Sold Friday for 1.35.
Sold two put spreads expiring Wednesday as a partial roll:
STO Nov 9th 2100/2075 put spreads for 4.50
STO Nov 9th 2025/2000 put spreads for 1.30.
Also, expiring today:
Nov 7th 2065/2040 put spreads, sold Friday for 1.45.
$SVXY
Well, while I was poking around here earlier I set up a sell to cover call, selling the Nov 11th 80 call for 1.05. Caught the earlier pop at 3:15 this afternoon. Now its back to hiding under the bed. Have a great afternoon.
AMZN Sold Dec. 16 850/860…
AMZN
Sold Dec. 16 850/860 call spread for 1.02.
Glad I waited before rolling…
Glad I waited before rolling my 2120/2140 spread. Maybe I’ll even get out for free…
Did Charles Evans (Fed) say…
Did Charles Evans (Fed) say something scary?
$SVXY
Popped in to see how the relief rally was going and write up a trade. Sold Nov 11th 77 Calls at 1.55 when SVXY was at 70.80. These are covered by long stock that was originally covered by Nov 4th 75 Calls that obviously expired last Friday. Otherwise sitting on my hands out in the gardens.
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Nov 11 2016 51.0 Puts @ 0.32 with the stock at 71.18.
These expire Friday.
DUST calls sold
#contangoetfs STO DUST Nov 18th 50 calls for 1.55
STO DUST Dec 9th 60 call for 1.90 (thanks, @Ramie77)
/ES closing the hedge
This looked a whole lot better until yesterday evening…
Bought /ES @ 2123.50 (sold for 2161.25)
Bought /ES DEC 16 2120 PUT @ 41.75 (sold for 27.25)
Net gain of 23 points so not bad. I could sit on the put but not real comfortable with a naked put going into tomorrow.
Still short a Dec 2140 call @ 21.50 so looking to get short again up around 2160 if we keep going up…
DUST calls
Sold $DUST Dec 9 (weekly) 60 calls @ 2.00. Highest strike.
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY Nov 11 2016 81.0 Calls @ 0.60 with the stock at 71.32
These expire in 5 days.
SPX calls rolled
$SPX Nov 7 2125/2135 calls rolled to Friday, Nov 11 2150/2160 for additional credit.
Never thought 2125 would be breached on the upside today, but it has, so gotta go with the flow.
Will Friday hold after the market settles in after the election? Who knows, I sure don’t.
Anyone have a crystal ball that’s not in the shop?
Just got in…wow!
What the heck did you guys do? That’s a lot of green!
SPX calls sold
#SPXcampaign #PlayingWithFire
Sold to Open $SPX Nov 9th 2165/2180 call spreads for 1.75. Already short a 2150 for that day, and a 2120 today. Thought I could sneak out of today’s expiration but looks like I will need to roll.
$SVXY #ShortPuts– Sold SVXY Nov…
$SVXY #ShortPuts– Sold SVXY Nov 11 2016 59.0 Puts @ 1.05 with the stock at 70.62.
These expire in 5 days.
PCLN earnings
#Earnings Over last 3 years, Biggest 5-day UP move: 15.6%, Biggest 5-day DOWN move: -8.7%, Average 5-day move: 6.4%.
I’m looking to sell Nov 11th 1275 puts for 3.50-4.00. This strike is about 12% OTM, so far above the average move, decently above the largest down move. TOS has expected move at +/- 6.1%.
Due to larger historical moves up, I’ll skip the call side or consider farther OTM.
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY Nov 11 2016 78.0 Calls @ 1.15.
Sold against stock acquired at 65.0 on put assignment Friday.
These expire in 5 days.
Closing LUV
Bought to close $LUV Nov 18 35 puts @ .05. Sold for .40 on 10/26.
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY Nov 11 2016 80 Calls @ 0.70. Sold against stock acquired at 65.0 on put assignment Friday.
These expire in 5 days.
FB Received 100 shares of…
FB
Received 100 shares of FB from earnings, cost basis is 123.91. Sold a Nov. 18, 125 call for .91.
Econ Calendar week of 11/7/16
VIX Indicator and SPX Chart…
VIX Indicator and SPX Chart have been updated
Dow Futures up over 200…
Dow Futures up over 200 on FBI’s Sunday memo
http://www.npr.org/sections/thetwo-way/2016/11/06/500929164/comey-we-have-not-changed-our-conclusions-as-fbi-finishes-clinton-email-review
#Earnings Our old friend PCLN…
Our old friend PCLN on Monday!
Major Earnings for the Upcoming Week:
Monday:
A.M. – ARIA, NILE, CTSH, DF, FDC, MGM, ROK, BID, SYY
P.M.– ALGN, ARNA, CZR, HTZ, IFF, MAR, NWS, PCLN
Tuesday:
A.M.– CNK, CVS, DHI, JCI, VRX
P.M.– TRIP
Wednesday:
A.M. – MT, CROX, COTY, M, VIAB, WEN
P.M. –TCS, MYL, SHAK, SLW, SUN, VVUS
Thursday:
A.M. –AZN, KSS, PRTY, PRGO, RL, SODA
P.M. –KORS,JWN, NVDA,DIS
Friday:
A.M.– JCP
OIL
Falling Oil (/CL) prices certainly did not help stocks this past week. Crude finished down over 9% as inventories saw a massive build this past Wednesday. The 14.4 M Barrel build in inventories was the largest on record and the Rig count continued to increase according to Friday’s count. Despite the expected interest rate hike next month, Bond prices surged up this past week. The inverse benchmark 10-Year Yield fell 7 bps to 1.78% and also pushed the U.S. dollar lower. The Fed Funds market is currently pricing in a probability of 66.8% of a December rate, although it did fall after the Fed meeting.
#OptionsExpiration for 11/4 Only 2…
#OptionsExpiration for 11/4
Only 2 expirations this week and no assignments:
$DUST 11/04/2016 50.00 calls
$UVXY 11/04/2016 29.00 calls
Next week should be a wild one. Looking forward to witnessing how the market reacts to either outcome on Tuesday.
Have a great weekend everyone.
$SVXY #ShortPuts – Bought to…
$SVXY #ShortPuts – Bought to close SVXY Weekly Nov 4 2016 64.5 Puts @ 0.05 to avoid possible assignment.
#OptionsExpiration #Weeklys #Nov4 – a…
#OptionsExpiration #Weeklys #Nov4 – a big week in volatility options, as I sold SVXY Puts and UVXY Calls forward on the big move in the VIX.
A nice earnings trade in TAP also, plus more NUGT puts expired.
— Expirations —
AGN Weekly Nov 4 2016 195 Puts
NFLX Weekly Nov 4 2016 119 Puts (Covered)
NFLX Weekly Nov 4 2016 133 Calls
NUGT Weekly Nov 4 2016 10 Puts
NUGT Weekly Nov 4 2016 12.5 Puts
SVXY Weekly Nov 4 2016 57 Puts
SVXY Weekly Nov 4 2016 58 Puts
SVXY Weekly Nov 4 2016 59 Puts
SVXY Weekly Nov 4 2016 60 Puts
SVXY Weekly Nov 4 2016 61 Puts
SVXY Weekly Nov 4 2016 61.5 Puts
SVXY Weekly Nov 4 2016 62 Puts
SVXY Weekly Nov 4 2016 62.5 Puts
SVXY Weekly Nov 4 2016 63 Puts
SVXY Weekly Nov 4 2016 63.5 Puts
SVXY Weekly Nov 4 2016 64 Puts
SVXY Weekly Nov 4 2016 65 Calls (Covered)
SVXY Weekly Nov 4 2016 75 Calls (Covered)
SVXY Weekly Nov 4 2016 81.5 Calls (Covered)
TAP Weekly Nov 4 2016 94.5 Puts
UVXY Weekly Nov 4 2016 21 Calls (Covered)
UVXY Weekly Nov 4 2016 21.5 Calls (Covered)
UVXY Weekly Nov 4 2016 22 Calls (Covered)
UVXY Weekly Nov 4 2016 22.5 Calls (Covered)
UVXY Weekly Nov 4 2016 23 Calls (Covered)
UVXY Weekly Nov 4 2016 23.5 Calls
UVXY Weekly Nov 4 2016 24 Calls
UVXY Weekly Nov 4 2016 29 Calls
UVXY Weekly Nov 4 2016 35 Calls
— Assignments —
SVXY Weekly Nov 4 2016 65 Puts
Options Expiration 11/4/16
Light week again this week, next week is setting up to be a big one. The next 2 weeks will be much bigger expirations.
$SVXY $62.50 puts
$TAP $94.50 puts
$UVXY $23 calls
$UVXY $30 calls
$UVXY $35 calls
$VXX $50 calls
$DUST $50 calls
$UVXY #CoveredCalls #Rollup #IRA -…
$UVXY #CoveredCalls #Rollup #IRA –
Bought to close UVXY Nov 4 2016 21.0 Calls @ 0.03.
SOLD UVXY Nov 11 2016 25.5 Calls @ 1.70
I did this so I could sell these new options today, before the weekend strips the premium away.
Options Expiration 11/4/16
#OptionsExpiration What a week!
–Expiring w/max profit–
$DUST 50 calls
$HLF 50 puts
$SPX 2065/2040 put spreads
–Expiring w/max loss–
$APA 57.5/60/62.5 iron butterfly
–Assignment–
$FB 122,123,124,125,126 puts – 100 short shares covered, 500 long shares assigned
$SPX iron condor today – a bust.
So much for my prediction of a close around 2095 today. Closed the put side of today’s iron condor for a loss, but not the max loss. Sold another put spread for Monday 2060/2050 to recover some of the loss and will look to recover more Monday or Wednesday.
Whew, what a crazy market. Setting records for down days in a row is not to my liking, except there has to eventually be an up day, right? Right? Maybe? :0
On the line…
Very close to breaking the 36-year record on SPX (9 straight days DOWN), and 27-year record on the VIX (9 straight days UP)… first time EVER on the VIX.
FB trade mgt
#Earnings BTC $FB Nov 4th 130 calls for 9.00. This is the #IronButterfly sold for 6.20 on Wednesday. Taking a loss.
BTC FB Nov 4th 121 puts for .10, to avoid assignment. Sold for .80.
I will still be assigned stock from puts at 122 through 126, as well as having my final bit of short stock covered.
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Nov 11 2016 48.0 Puts @ 0.60 with the stock at 64.20. This expires next Friday.
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Nov 11 2016 49.0 Puts @ 0.70 with the stock at 64.43. This is the NEW contract high and it expires next Friday
SPX calls sold
#SPXcampaign Sold to Open $SPX Nov 9th 2150/2175 call spreads for 2.15, with SPX at 2090. Creates a condor with the put spread I sold a few minutes ago. Three days to go and 160 points between shorts.
SPX puts sold
#SPXcampaign Sold to Open $SPX Nov 9th (Wednesday) 1990/1965 put spreads for 1.90.
Even if the worst possible election outcome happens, will the market tank to 1990 on Wednesday?
Sell program?
Did a sell program kick in right at 1:30 pm central time?
Dead cat bounce
Nine days in a row down on SPX hasn’t happened in 36 years. Oversold; needed a bounce. This is why I sold call spreads earlier. Premium is still jacked up so you can get decent spreads for Monday expiration and even higher for Wednesday. Working on put spreads on intraday pullbacks. I believe a lot of money can be made in the next three days by selling volatility. But I’m being careful with expirations beyond Nov 9th.
SPX 1-day put spread sold
#SPXcampaign Sold to Open $SPX Nov 7th (Monday) 2065/2040 put spreads for 1.45. Offsetting Nov 7th call spread I sold earlier.
$UVXY #ShortCalls #ClassicVXXGame – Bought…
$UVXY #ShortCalls #ClassicVXXGame – Bought to close 1 UVXY2 JAN 20 2017 170.0 Call @ 0.01.
Nothing more to make here and still 77 days until expiration. Sold on 6/14 at 1.00
This is the pre-split option.
$VIX – closed up yesterday…
$VIX – closed up yesterday for the eighth day in a row. It has never — in 27 years — been up nine days in a row.
Bill Luby
@VIXandMore
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Nov 11 2016 49.0 Puts @ 0.60 with the stock at 65.70. This is the contract high and it expires next Friday.
Closing GILD earnings
#Earnings Looks like GILD may be dropping again, so starting to close the earnings trade.
BTC $GILD Nov 4th 73.5 put for .95. Sold as part of the 68.5/73.5/78.5 iron butterfly for 3.05 on Tuesday. Watching for another bounce to get rid of my other one.
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Jun 16 2017 30.0 Puts @ 2.30 on the open with the stock at 64.88
Options Bistro 