Box of Chocolates Getting Soft

#spxcampaign
$SPX 2/24 2100/2200 BUPS @ 3.00
$SPX 2/24 2390/2365 BECS @ 1.35

Closed Early
$SPX 2/3 2365/2340 BECS @ .60 57% profit (Getting gun shy)
$SPX 1/30 2310/2285 BECS @ 683% loss (Why I am getting gun shy)
$SPX 2/3 2100/2125 BUPS @ .05 94% profit

#longcalls
Closed Early
$BABA 2/17 95/100 BUCS @ 78% profit

$VIX – The VIX is…

$VIX – The VIX is now on a 10 handle which is a fairly rare occurrence. Out of 6,813 trading days since 1990, only 110 have been below 11 in VIX (1.6%).

$DUST #ShortPuts #Rollout – I…

$DUST #ShortPuts #Rollout – I split an existing position into two pieces and rolled it out.
Bought to close DUST JAN 27 2017 45.0 Puts to avoid assignment and
Sold DUST MAR 17 2017 41.0 Puts and DUST APR 21 2017 39.0 Puts, both at a 0.45 Credit.
This gives me plenty of time to manage these positions further.
Plus the lower strike prices and extra cash helps too.

VIX Indicator and SPX Position…

VIX Indicator and SPX Position Chart have been Updated

SPX long call spread

#SPXcampaign Bought to Open $SPX Feb 6th 2330/2335 call spreads for 1.35, about 6 minutes after the bell. Looking to close when the spread reaches 5.00-10.00.

SPX reverse roll

#SPXcampaign Stopping out and reversing my most endangered call spread.

Bought to close $SPX Feb 24th 2230/2255 call spreads for 3.90. Sold on Tuesday for 1.40
#ReverseRoll: Sold to Open SPX Feb 10th 2275/2250 put spreads for 3.95, with SPX at 2296.

Outlook remains bullish. Today the VIX is having its 3rd close beneath the most recent 78.6 Fib line (drawn from 12/21 low and 1/19 high). This is another confirmation of the ongoing Upside Warning.

FFIV puts closed

#Earnings BTC FFIV Jan 27th 130 puts for .10. Sold yesterday as the 130/157.5 strangle for .90. Letting the calls expire. This is to avoid any possible downdraft tomorrow.

Allowing the LUV and EBAY trades to expire

JNJ and COF will have to move tomorrow to become winners, but they are IB’s so loss is minimal.

QCOM, BMY

QCOM, STO June 50 put @2.25

BMY, STO September 40 put @1.51

SPX Trades

#spxcampaign

SPX trades for the next few weeks….

Jan 26 Sold 2 Mar 03-17 2110/2210 Put Credit Spreads (BUPS ) @ 4.50
current price just under 2300
Expected Market makers move = 63 points
My safety factor = 40 points or so..

Jan 26 Sold 2 Mar 10-17 2100/2200 Put Credit spreads (BUPS ) @ 5.00
current price just under 2300
Expected Market makers move = 71 points
My safety factor = 30 points or so..

#SPXcampaign 1/5/2017 2065 buy 10…

#SPXcampaign
1/5/2017 2065 buy 10 FEB 2017 Puts -$2.65
1/5/2017 2165 Sell 10 FEB 2017 Puts $8.35
1/26/2017 2065 Sell 10 FEB 2017 Puts $0.42
1/26/2017 2165 buy 10 FEB 2017 Puts -$1.17
opened it on 1/5/2017 at $5.70 close at 0.75 gained 87%

DUST–closing early

Bought to close $DUST Feb 17 107 call @ .03. Sold for 6.00 on 12/20. I’m sure this would expire in a few weeks but it seems crazy to keep it open for .05 or less. I’m still short some 75 calls in Feb as well, which are almost worthless–those may be next.

$DUST #ShortPuts – this one…

$DUST #ShortPuts – this one is finally cooperating. Closing early because of margin pressures.
Bought to close DUST Jan 27 2017 30.0 Puts @ 0.05. They wont trade any lower.
Originally sold at 0.85 on 12/29 and added another at 1.25 on 12/30.

Letting 3 similar positions in IRA accounts run to expiration.

TLT

#PerpetualRollingStrangles – Selling another week..

Bought to Close TLT FEB 3 2017 123.0 Calls @ .08 (sold for .74)

Sold TLT FEB 10 2017 120.5 Calls @ .60

WYNN earnings

TOS has been showing Feb 2nd for a few weeks. Noticed yesterday my WYNN position was down even though WYNN was up. Earnings were changed to today….

IBB

#ShortCalls – Replacing the one I closed yesterday….still holding the Feb 260 put so legging into a March strangle.

Sold IBB MAR 17 2017 290.0 Call @ 3.30

$UVXY

STO Feb 10 $35 calls @ $0.35

SOLD UVXY 10 FEB 17…

SOLD UVXY 10 FEB 17 40.5 CALL @.19

#SPXcampaign BTC SPX 8 FEB…

#SPXcampaign BTC SPX 8 FEB 17 2170/2145 BuPS @.25 sold on 1/12/2017 @1.40

Opening Dow futures Trade

#futures
After the opening slide and subsequent bounce at the 20000 line, I went long :
Jan 26 8:44 Long 5 YM contracts as teh TTM_Wave went green on teh bounce at 20000 level..
Jan 26 9:11 Exited my trade as the YM stalled at the 20,050 level and consolidated..TTM_Wave verified the chop..

Gain of 50 points @ 25/point

ym-thrs

$UVXY

STO Feb 3 $30 calls @ $0.33

GOOGL earnings

#Earnings #BullPutSpreads GOOGL looking bullish but I’d prefer to stay OTM in case its one day performance pulls back a bit. Going with a spread rather than naked since I don’t want to take assignment of such an expensive stock, and the margin requirement provides far better return percentage.

Sold to Open $GOOGL Jan 27th 815/805 put spreads for 1.40. Biggest UP move: 16.3%, Biggest DOWN move: -5.4%, Average move: 4.5%. This trade is 4.6% OTM.

SBUX earnings

#Earnings SBUX has not been a big mover on recent earnings, so placing a slightly bullish 1:3 #IronButterfly, looking for a close around 60.00 tomorrow.

Sold to Open $SBUX Jan 27th 58/60/62 iron butterfly for 1.47. Biggest UP move: 6.6%, Biggest DOWN move: -4.9%, Average move: 2.3%. Center strike is +2.0% OTM.

SPX calls sold, puts closed

#SPXcampaign Sold to Open $SPX Feb 24th 2365/2390 call spreads for 1.35, with SPX at 2298.

Bought to close SPX Feb 10th 2150/2125 put spreads for .20. Sold for 1.35 on Jan 9th.

SVXY

STO January 2018, 60 puts @ 6.35 to offset the 225 calls I sold yesterday @5.05

SPX call spread stopped

#SPXcampaign Handling this one as an ITM position, but taking this morning’s weakness as opportunity to close, so I can replace it (hopefully) at higher strikes on the next rally.

Bought to close $SPX Feb 6th 2290/2315 call spreads for 11.00. Sold for 6.70 on Tuesday as a roll.

$DUST

Is moving back up as gold pulls back. I plan to sell OTM covered calls near end of day.
VIX is quite low, also watching for reversal of indexes – like everyone else. Have we been lulled into complacency yet?