Updated SPX Chart

spx

Looking at the chart, with the squeeze and momentum taking off a week ago, it was evident, selling the downside was the way to go..as the squeeze fired up with accelerated momentum and price strength, I sold a delta 65 ITM put..its up 35%, for a nice gain…

There is a rule of 6, if we are up for 6 bars, it likely continues..

SPX trades

#SPXcampaign Another day, another call spread stopped. Or two.

Bought to close $SPX March 16th 2390/2415 call spreads for 4.20. Sold Monday for 1.55.
#CondorRoll: Sold to Open SPX March 16th (same date) 2260/2285/2415/2440 iron condor for 4.45.

#ITMRoll: Bought to close SPX Feb 22nd 2300/2325 call spreads for 23.75. Sold for 7.50 on Feb 9th.
#CondorRoll (although each side sold separately):
Sold to open SPX March 1st 2305/2330 call spreads for 21.00
Sold to Open SPX March 1st 2320/2295 put spreads for 3.00

$UVXY #CoveredCalls – Adding some…

$UVXY #CoveredCalls – Adding some speculative short/partially covered calls on the late bump in volatility.
Sold UVXY FEB 17 2017 21.5 Calls @ 0.24 – expires in 2 days
Sold UVXY FEB 17 2017 22.5 Calls @ 0.15 – expires in 2 days
Sold 1 UVXY Mar 3 2017 22.5 Call @ 1.07
Sold UVXY Mar 10 2017 34.0 Calls @ 0.42

VIX moved up into the close

Sold $SVXY Jun 16 60 puts @ 1.41
#VXXGame

SPX Roll

#spxcampaign

Profit/Roll

Feb 03 sell 2 mar 17 2190 puts $8.00 $1,600.00
Feb 15 buy 2 mar 10 2200 puts -$3.00 -$600.00

Gain @ 65%

Feb 15 Sell 2 Mar 17 2260 puts $5.70 $1,138.00

REGN put side roll up

#Earnings #ShortStrangles Taking a cue from @fuzzballl and rolling up the good side,
BTC REGN March 17th 330 put for 1.50. Sold in the 330/400 strangle for 6.10 last Friday.
STO REGN March 17th 350 put for 3.80, so 2.30 credit on the roll.

Looking like the 400 call may have to be rolled UP. All biotech surging.

TMUS straddle

Borrowing an idea from a Tasty Trader. IV rank is still high at 59 (earnings were yesterday).
Sold $TMUS Mar 17 60 straddle @ 4.30 credit with the stock at 61.06. Looking to take 25% out of this trade. Breakevens are 56.76 and 65.36.

$UVXY #ShortCalls, #ContangoEtfs Bought to…

$UVXY #ShortCalls, #ContangoEtfs Bought to close my Feb 17th UVXY calls @ .05.

SBUX, some stock sold

#Earnings #StockTrades Sold $SBUX stock for 56.80. This is slightly above breakeven for this lot. Putting various limits, trail stops, etc, on the rest. No too interested in holding long term, and covered call premium is too weak.

Was assigned the stock via earnings #IronButterfly… sold the long puts to reduce cost basis to 56.76.

TECK

STO March 24, 20.5 puts @0.53 cents

TLT

#PerpetualRollingStrangles – Replacing this week’s expirations…

Sold TLT FEB 24 2017 119.5 Calls @ .59
Sold TLT FEB 24 2017 120.0 Calls @ .41

PEP partial closure

#Earnings Put a trail-stop on half my PEP Feb 17th puts… just filled for .66. Will wait the rest out for a lower price or expiration.

Also putting orders in to sell the long options, one for .05 and one for .10. If any fill I’ll try for higher prices.

SVXY

STO January 75 puts @ 8.90 to offset my January calls.

SVXY

STO January 245 call@6.20

$NUGT #RatioWrite – Bought to…

$NUGT #RatioWrite – Bought to close some of my NUGT MAR 17 2017 16.0 Calls @ 0.44 with the stock at 12.
Originally sold @ 0.66 on 2/2.
I reduced the ratio of short calls to stock from 7/1 to 5/1 while taking a small profit

NTAP earnings

#Earnings – Sold 37/39/41 iron flies @ 1.50. Risk .50 to make 1.50 selling two wide on a 2.35 expected move.

Rolled Gold (GLD)

#PerpetualRollingStrangles – Stuck right in between the inverted strikes. I’ll roll and collect more premium while leaving the strikes alone. At some point one side will expire.

Rolled this week’s 119/113 inverted strangles to Mar 3rd @ .60 credit

PEP #postearnings Sold March 17…

PEP
#postearnings
Sold March 17 105/100 put spread for .74, PEP just above 107

$UVXY $ShortCalls – Bought to…

$UVXY $ShortCalls – Bought to close all my outstanding UVXY3(pre-split) Mar 17 2017 60.0 Calls @ 0.01. They won’t trade any lower.
Originally sold around 3.00 in mid October.

$UVXY #CoveredCalls – with two…

$UVXY #CoveredCalls – with two and a half days until expiration, selling mostly covered calls for accounts that still have a bit of this stock. I welcome the chance to roll these if necessary.
Sold UVXY FEB 17 2017 20.5 Calls @ 0.33
Sold UVXY FEB 17 2017 21.0 Calls @ 0.25
Sold UVXY FEB 17 2017 21.5 Calls @ 0.21

TRIP earnings

#Earnings #ShortStrangles – Playing it slightly bullish. Selling at the expected move on the downside and above the expected move on the upside. Hasn’t traded below 45 in 4 years…

Sold TRIP FEB 17 2017 49.0/59.0 Strangles @ 1.20

SVXY

STO January 250 call @5.54, trying to keep up with all of you.

FFIV earnings

#Earnings – Took a couple weeks but out at even…

Sold to close FFIV stock/covered calls @ 135.65

SVXY strangle

#ShortStrangles – Sold SVXY JUN 16 2017 70.0/200.0 Strangle @ 3.85

Interesting divergence

Between the market and the VIX.

$NUGT #ShortPuts – adding to…

$NUGT #ShortPuts – adding to my #OptionLadder with the stock at 12.
NUGT MAR 10 2017 9.0 Puts @ 0.26
NUGT MAR 24 2017 9.0 Puts @ 0.50
NUGT MAY 19 2017 8.0 Puts @ 0.93

IBB delta adjustment

#ShortStrangles – Rolled put side of March strangle up a little to capture some more premium. Still net short but not AS short.

Rolled March 260 put up to 280 @ 2.53 credit.

Position is now 280/290 strangle @ 8.58 credit

Good Morning

Good Morning

PEP earnings trade

#Earnings Yesterday sold the $PEP Feb 17th 105/107/109 #IronButterfly for 1.33.

Just now, closed the 107 calls for .05. Now looking for a rise back toward 107 into Friday. Currently this trade is closable for breakeven, but I’m in it to win it.

SPX trades

#SPXcampaign Yesterday, STOPPED, bought to close $SPX March 10th 2365/2390 call spreads for 3.80. Sold for 1.30 last Thursday. (4.00 stop was hit at the highs yesterday)

#CondorRoll this morning… bringing in to a closer expiration date with 1.5x position size.
Sold to Open SPX Feb 27th 2275/2300/2375/2400 iron condors for 2.85, with SPX at 2335.

Also yesterday:
Bought to close SPX Feb 16th 2300/2275 put spreads for .20. Sold for 4.50 last Thursday.