#FUZZBALL – Your GLD update…

@ Fuzzball –

Your GLD update was detailed and very interesting, really enjoyed it and would ask that you do more of it. Really very helpful as were the comments that followed. Helps me see how you approach a Setup and what results to expect. Please keep it up with the Updates…..they are not boring or too long. :))

The VIX Indicator and SPX…

The VIX Indicator and SPX Charts have been updated
Non-Farm Payroll (Jobs report) will be released at 8:30am ET

Trades

#spxcampaign
$SPX 1/13 2325/2300 BECS @ 1.20
$SPX 2/3 2135/2160 BUPS @ 1.45

Closed Early
$AMZN 720/770 BUPS @ 55% profit (partial position) Sold in October. Was way down at one point.

#bullputspread FB closed Jan. 20…

#bullputspread
FB closed Jan. 20 115/105 spread for .30, sold for 1.33 on Dec. 23.

SPX ITM call-roll

#SPXcampaign Sold to Open $SPXPM Jan 20th 2275/2300 call spreads for 8.60, completing the #CondorRoll from earlier today.

SPX trades closing

#SPXcampaign STOPPED, BTC $SPX Jan 13th 2280/2305 call spreads for 4.40. Sold for 4.70 on Dec 30th. Will look to roll tomorrow.

BTC SPX Jan 13th 2175/2150 put spreads for .20. Sold for 2.00 on Dec 14th.

CMG

$ShortPuts #IRA – Nice bounce so thinning out some more. Decks are cleared for earnings on Feb 2nd.

Bought to Close CMG MAR 17 2017 275.0 Put @ .83 (sold for 4.10)

DUST calls closing

#ContangoETFs #ShortCalls
BTC DUST Jan 20th 80 call for .05. Sold for 5.00 on Nov 17th
BTC DUST Jan 27th 107 call for .05. Sold for 3.00 on Dec 20th

#spxcampaign STO 17 FEB 17…

#spxcampaign STO 17 FEB 17 2135/2035 BuPS @4.50

#spxcampaign STO 3 FEB 17…

#spxcampaign STO 3 FEB 17 2170/2070 BuPS @4.00

#spxcampaign STO SPX 10 FEB…

#spxcampaign STO SPX 10 FEB 17 2165/2065 PUT @5.70

SHOP

This is am IPO that is making a new high.

STO February 17, 45 put @2.60

RH

#CoveredCalls – Just keep selling these at breakeven strikes. Would love to be done with it soon so I can get ready for earnings season. Was assigned from an earnings play at 35.05. Basis now reduced to 31.50.

Sold RH JAN 13 2017 31.5 Calls @ .54

SPX ITM roll, half done

#SPXcampaign Bought to close $SPX Jan 13th 2260/2285 call spreads for 11.15
#CondorRoll Sold to Open $SPXPM Jan 20th 2225/2200 put spreads for 2.65
Going to sell either the 2270 or 2275 call spread later today or tomorrow, when SPX is higher.

AMZN #CoveredCalls Sold $AMZN Feb…

AMZN #CoveredCalls
Sold $AMZN Feb 17 870 call @ 5.00

STZ

STO July 120 put @3.20

GDXJ BTO Jan 13 $35.50…

GDXJ BTO Jan 13 $35.50 Straddle

TLT

This was a stand alone trade playing the bounce. Not part of the long term position…

Bought to Close TLT JAN 20 2017 116.5 Puts @ .13 (sold for 1.11)

SPX puts sold

#SPXcampaign Filled on additional two spreads as the mild weakness turned into an actual drop. We’re still above Tuesday’s close, and provided we stay above 2260 I won’t change my outlook.

Sold to Open $SPX Jan 23rd 2200/2175 put spreads for 1.45
Sold to Open $SPX Feb 3rd 2160/2135 put spreads for 1.45

GLD adjustment and update (skip if it’s boring) :) :)

Update on one of my many TT style managed strangle positions. Basically, starts out as a wide strangle and is managed with credit rolls as the stock moves and held forever or until a perfect exit presents itself. I look at it like a dividend position that pays weekly. This has been a great test of this strategy in a worse case scenario of a massive sell off just after the position was started.

Long story short, right after selling the original strangle gold began imploding so I continued selling weekly calls all the way down after rolling the puts out about 3 months and leaving them at the same strike (nice credit). The entire time position size was about half until I could get more comfortable with the style.

Now, with GLD rebounding my short calls are finally ITM so here’s the adjustment. I’m getting a little bullish at least up to the 50ma resistance.

Rolled part of this week’s 109 calls to Feb monthly 119 puts @ 3.20 credit adding to original puts to get a full position.

Then, paired off with that, rolled remaining 109 calls to Feb monthly 113 calls at 1 for 5 ratio for 6.60 net credit.

So now, in a Feb monthly 119/113 inverted strangle full (but still small) position. If GLD starts rolling over again I’ll continue rolling down short calls slightly for a credit and roll the puts out again a few months. The cool thing about this is so far the trade has only been using about 3500 in margin (slightly more now with a full position) and has brought in a grand total of 37 points in premium in just a few months. That’s a decent dividend! The key to these types of positions for me is to forget about the P/L on the original position and accept the fact that it’s a long, long term play and try to collect as much premium as you can all the time. If it’s a ticker that’s not going to zero and uses little margin then sell, baby, sell!

Just an update for anyone interested…I think someone had told me to keep them updated so there it is.

Following The Leader

#spxcampaign
$SPX Jan 27th 2155/2180 BUPS for 1.30.

OT

Over on SMM, someone said that Gartman turned bullish. Not a good sign.

Closing BOIL

Bought to close $BOIL Mar 17 30 calls @ .20. Sold for 1.25 on 12/9. Shutting this down about 2 1/2 months early, about 85% max profit.

SPX bullish trades

#SPXcampaign As I posted yesterday, the #VIXIndicator is close to signaling another push higher in the next 10 days or so. Using this morning’s weakness to get positioned.

Sold to Open $SPX Jan 27th 2180/2155 put spreads for 1.40.
BOUGHT to open $SPX Jan 13th 2300/2325 call spreads for 1.45.

$SPX iron condor

STO Feb 17 2370/2360/2120/2110 @ 1.20

IRDM

STO February 10 puts @.45 cents.

RGLD covered call

#CoveredCalls #Earnings #Gold
STO $RGLD Feb 17th 75 covered call for 1.25

Looking for a bullish run in gold miners… DUST dropping today, lowest since the election.

$STZ

STO Feb 17 $135 puts @ $1.30

Basically hasn’t been below that level since Nov ’15