Option Iceman 7:44 am on Friday, December 16, 2016
Tags: Rollup ( 121 ), ShortCalls ( 979 )

$SVXY #ShortCalls #Rollup – SVXY…

$SVXY #ShortCalls #Rollup – SVXY keeps on running on Fridays.
Bought to close SVXY Dec 16 2016 83.0 Calls/ Sold SVXY Jan 20 2017 88.0 Calls @ 0.15 Credit.

Made all of the time premium on the Dec option and added 5 points to the strike price.

One of these days SVXY will pull back.

jsd501 7:55 am on Friday, December 16, 2016

I hope that it pulls back. After today, I only have a few January puts and I will be out of positions.
- fuzzballl 8:01 am on Friday, December 16, 2016
  
  About there myself. Stock I have left is covered with 74.5 calls so DITM that about all I can do is roll for a little credit every couple weeks. Poor man’s trailing stop!
  - fuzzballl 8:08 am on Friday, December 16, 2016
    
    Is this a workable idea? Roll 74.5 calls out to June 90 Jan 2018 110 for small credit reducing delta to .5
    
    Then…when I finally sell the stock close the calls also? Might capture a little more upside than what I’m doing now…
    - fuzzballl 8:09 am on Friday, December 16, 2016
      
      June 90 or possibly Jan 18 110…typing is bad today
      - Option Iceman 8:13 am on Friday, December 16, 2016
        
        Yes, giving the stock more room to run seems to be a winning formula. That is the type of trade I’m doing. Just rolled Dec 68 calls to June 80 calls for a small credit.
        
        fuzzballl 8:18 am on Friday, December 16, 2016
        
        I like it. Looks like right now I can roll out a month and up about 3 points. Might do that…could pick up another 36 point if we go up for a year. Can’t see that happening…even though I am a Trump fan, I feel like sooner or later he’ll do something to put a little volatility back in the market.
        
        vxxkelly 8:25 am on Friday, December 16, 2016
        
        I think the next shoe to drop is going to be earnings. Big market run up will raise expectations into earnings. Companies are already trying to temper enthusiasm with the stock holders. If they talk down expectations and start complaining about the strong dollar again, could definitely see some multiples come back down.
        
        fuzzballl 8:26 am on Friday, December 16, 2016
        
        Some BIG expectations being priced into this market…it’ll be fun to watch earnings crank up again for sure.
  - jsd501 8:33 am on Friday, December 16, 2016
    
    I am thinking about waiting for a pullback and selling the 2018, 60 puts on SVXY @12.50 or ,I hope, better than that. If I do that, with about 15% of my account, it gives me some income and I can wait for a real pullback next year. Other than that I don’t see much to do right now.
  - jsd501 8:57 am on Friday, December 16, 2016
    
    Yesterday I rolled all my covered calls for 60 to 75 on SVXY out to 2018 75 calls. I am short covered calls at 80 and 85 that expire today and will let them be called to raise cash.I now expect to be about 60% in cash and looking at using 20% on some long dated puts if we ever get a correction. Some economist once said that “if it can’t go on forever, it won’t”.
vxxkelly 8:28 am on Friday, December 16, 2016

I have not been short any $SVXY calls but need to look at entering a few to balance out my short puts.
- vxxkelly 8:28 am on Friday, December 16, 2016
  
  I just haven’t been thrilled with the available premiums.

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