#Markets #Volatility #Gold – levels to watch – previous turning points from late Feb ….
$SVXY / $UVXY – the last SVXY bottom was 118.39 while UVXY topped at 23.85.
$NUGT /$DUST when gold futures touched 1260 (now at 1245), NUGT peaked at 12.28 while DUST bottomed at 26.30
My opinions fwiw:
UVXY is unlikely to reach the prior peak until after SVXY violates its prior low – selling UVXY “Weekly” calls in the 30’s seems like a winning move vs. SVXY Puts. They can always be rolled.
DUST is much closer to it’s previous low than NUGT is from its high. A 28% move in NUGT would just about do it, but DUST would drop 28% to 21, over 5 points below its last bottom. I’m hanging on to my short DUST calls for June (65) and Jan 2018 (90) until that happens. I will continue to roll down DUST puts as needed.
#Earnings… holy crap what a ride after hours… our bullish trades looked dead, now they’re alive and kicking hard!
#ShortCalls – This was a short term delta play that I promised myself I’d unload at 50 percent of max or better the first chance I got. Late fill yesterday…
Bought to Close DUST JUN 16 2017 65.0 Call @ 1.10 (sold for 4.00)
#ShortStrangles – I’m hoping this is a week or two before earnings…
Sold REGN APR 28 2017 350.0/410.0 Strangle @ 8.20
$UVXY #ShortCalls – Sold UVXY Apr 28 2017 35 Calls @ 0.70 with the stock at 17. Highest available strike price.
#ShortPuts #IRA – Did manage to squeeze a couple in today…also booking one longer term hoping for a nearer term sale.
Bought to Close SVXY MAR 31 2017 95.0 Put @ .05 (sold for 2.50)
Bought to Close SVXY JUN 16 2017 70.0 Put @ 1.45 (sold for 4.60)
Sold SVXY APR 28 2017 100.0 Put @ 2.20
1. Leave DFW hotel room as opening bell sounds
2. Tow bar issues on pushback
3. Return to gate for 45 minute maintenance inspection
4. Finally ready to leave
5. Wait in long taxi line
6. Airborne for beautiful trip across the gulf to MIA (still love that part of the job)
7. Touchdown for 25 minute gate wait
8. Cram myself into last square inch of space on employee bus
9. Sit in traffic standstill for 45 minutes while 2 by 4’s are cleaned up off of the turnpike
10. Pull into RV park and turn on computer and hear the closing bell
LMAO! That, my friends, is the typical day of a guy that can’t wait to retire!
Looks like I missed a great day…hoping for a second chance tomorrow. Nice trading everyone!