#options expiration Friday btc xle…

#options expiration
btc xle 68 put @ .05/had sold for .57
expired xle 70 call/ had sold for .92

More Expirations

$SPX 4/28 2230/2255 BUPS Thank you @jeffcp66
$SPX 4/28 2175/2275 BUPS Thank you @fibwizard

Expired and Closed Early

#optionsexpiration #earnings
$EXPE 126/146 Strangle for earnings Thank you @jeffcp66
$PEP 112/115/118/115 IB Earnings Loss of $20 per contract
$SVXY 70 put
$SVXY 115 put
$UVXY 24.50 call
$UVXY 23 call

Closed Early
$SPX BTC 4/28 2405/2380 BECS @ 3.50 STO @ 3.60

Have a great weekend everyone. Weather warming up on the East Coast. Golf!

$LB ShortPuts #FallingKnife – today…

$LB ShortPuts #FallingKnife – today I covered a short May 50.0 Put at a point that I originally sold for 1.20.
Despite the fact that it is out of the money 2 points with 3 weeks to go, in early April the stock collapsed to 43.04 before gaining it all back recently.
I decided I don’t need added the risk on this name because I am still short Aug 45 and 42.5 Puts and Nov 32.5 Puts that are nicely profitable.
One of my unwritten rules is if a Put that I sold for 1.20 gets up to 7 or 8 dollars and then gives me a chance to get out ahead, I take it, and don’t look back.
I would have taken the stock if it had stayed down. The current move shows why that would have worked too.

#OptionsExpiration for 4/28 A light…

#OptionsExpiration for 4/28
A light week.
$SVXY 04/28/2017 90 puts
$UVXY 04/28/2017 35 calls
$UVXY 04/28/2017 39 calls

No assignments.

Have a great weekend everyone.

Have a great WE everyone…


I have two Expiring


April 28th 115 Put

April 28th 102 Put

Have a great weekend all.  See you back here Monday.



Lots of positions rolling off.
SVXY $80 puts
SVXY $85 puts
SVXY $87 puts
SVXY $90 puts
UVXY $28 calls
UVXY $31 calls
UVXY $33.5 calls
UVXY $35 calls
UVXY $37 calls
UVXY $39 calls

Great week to sit back and watch delta and theta work. Early this week I closed all of my next week UVXY calls for pennies. So just waiting and watching to put money to work.

#OptionsExpiration #Weeklys #Apr28 – A…

#OptionsExpiration #Weeklys #Apr28 – A pretty nice week with a bunch of #Volatility trades ($SVXY $UVXY) rolling off.
Another set of $DUST Puts expired as I continue to reduce my exposure in those.
Only one assignment this week.

— Expirations —
DUST (Weekly) Apr 28 2017 23.5 Puts

NUGT (Weekly) Apr 28 2017 7 Puts
NUGT (Weekly) Apr 28 2017 7.5 Puts
NUGT (Weekly) Apr 28 2017 10 Calls (Covered)
NUGT (Weekly) Apr 28 2017 11.5 Calls (Covered)
NUGT (Weekly) Apr 28 2017 13 Calls (Covered)
NUGT (Weekly) Apr 28 2017 14 Calls

SVXY (Weekly) Apr 28 2017 70 Puts
SVXY (Weekly) Apr 28 2017 75 Puts
SVXY (Weekly) Apr 28 2017 80 Puts
SVXY (Weekly) Apr 28 2017 85 Puts
SVXY (Weekly) Apr 28 2017 87 Puts
SVXY (Weekly) Apr 28 2017 88 Puts
SVXY (Weekly) Apr 28 2017 89 Puts
SVXY (Weekly) Apr 28 2017 90 Puts
SVXY (Weekly) Apr 28 2017 91 Puts
SVXY (Weekly) Apr 28 2017 94 Puts
SVXY (Weekly) Apr 28 2017 96 Puts
SVXY (Weekly) Apr 28 2017 98 Puts
SVXY (Weekly) Apr 28 2017 105 Puts
SVXY (Weekly) Apr 28 2017 107 Puts
SVXY (Weekly) Apr 28 2017 150 Calls – Part of a strangle trade

UVXY (Weekly) Apr 28 2017 22.5 Calls (Covered)
UVXY (Weekly) Apr 28 2017 23 Calls (Covered)
UVXY (Weekly) Apr 28 2017 24 Calls (Covered)
UVXY (Weekly) Apr 28 2017 31 Calls
UVXY (Weekly) Apr 28 2017 32 Calls
UVXY (Weekly) Apr 28 2017 33 Calls
UVXY (Weekly) Apr 28 2017 34 Calls
UVXY (Weekly) Apr 28 2017 35 Calls
UVXY (Weekly) Apr 28 2017 39 Calls

— Assignments —
NUGT (Weekly) Apr 28 2017 9 Puts – a new long position

Options Expiration 4/28/17

#OptionsExpiration #Earnings #ShortStrangles #CoveredCalls #IronButterfly

— Expired —
EXPE 126/146 strangles
PANW 117 covered call
SRPT 31.5 puts

— Assignment —
PEP 115 puts

Expirations and have a nice weekend.


75 puts

80 puts


105 puts

SPX calls sold

#SPXcampaign Sold to Open $SPX May 26th 2435/2460 call spreads for 1.65.

$DUST #shortcalls It looks like…

$DUST #shortcalls
It looks like one batch of Apr 28 $30 calls will be called away.
Another batch of Apr 28 $33 calls will expire. Whew, they had a 0.13 delta looking safe when sold, but DUST was trading over $34 yesterday and today, causing worry and shifting securities between accounts. I am ready for yard work this weekend to relax.

#ironcondor AMZN Sold June 16…

#ironcondor AMZN
Sold June 16 850/860/990/1000 for 2.35


STO June 16, 30 puts @1.70, this is a speculation for me on this company. I got the idea over on SMM.

#earnings This week I had…

#earnings This week I had trades on BIDU,EXPE,SRPT, SBUX and CMG, all expiring May 19, I’m successfully out of 4, SBUX gamble has not worked, small loss. Other than SRPT which was a strangle, the others were #ironcondors. We know there is usually more premium going out further but often don’t get the volatility crush, but have more time for adjustment if it’s needed. I essentially followed Jeff’s trades, tweaking them for my margin needs. Tried for a strangle on X, fortunately wasn’t filled, and an IC on FFIV that wasn’t filled, would be a maybe.

$DUST #ShortPuts #Rolldown #IRA -…

$DUST #ShortPuts #Rolldown #IRA – while I was hoping that these would expire, I instead rolled them out a couple of weeks and moved the strike price down 4 points with the stock at 31.68.

Bought to close DUST Apr 28 2017 32.0 Puts @ 0.44 – Originally sold at 5.22
Sold DUST May 12 2017 28.0 Puts @ 0.84.

A 0.40 credit on the trade, and these come due the same time as my NUGT May 12 2017 8.0 Puts.
One of the trades will certainly work, maybe both.

#SPXcampaign Jeff when you trade…

#SPXcampaign Jeff when you trade a #RiskReversal do you still use the same number of contracts as when placing normal spreads? Is the reason for using a 20×25 spread to achieve the correct cover? Hope I have not confused you.

I tried to comment straight on to your post but it came back as needing approval?

#short puts STO 3 may…

#short puts

STO 3 may 19 76 puts at 0.97. I am long TSO and have cc on it at 83 in 2 weeks but am trying to increase returns.

FB roll

#Earnings #CoveredCalls #Rolling
This will extend my 15-month earnings trade even longer. I’m left with only 100 shares from the trade that started in Jan 2016 and finally became profitable in December.

BTC $FB Apr 28th 145 covered call for 4.95
STO $FB May 12th 147 covered call for 5.25

I gained .30 on the roll, and an extra $200 if I am called away after earnings. I may keep this position as an exercise in rolling covered calls. I plan to initiate new earnings trades next week when it reports on Wednesday.

Lucky fill

#Earnings BTC $ANTM 170/175 call spreads for 4.89. These were set to expire, costing me 5.00, but I put in an order for 4.90 just in case I got a fill… saved 11 cents! Unless, of course, it closes below 174.89, in which case I’m not so lucky.

Trying To Unwind A Bad Trade

$CMG BTC 4/28 425 call @ 53.06
$CMG STO 5/5 445 call @ 33.80

IF $CMG continues down next week I will try to close the 5/5 call. Stuff not liquid. I was going to close the 4/28 for the whole enchilada loss but there was no volume. I put this roll order in and was filled almost immediately. Makes me feel I did something bad. ;-{

# low vol.

Have a rare moment at lunch and looking at potential trades. Seems like the vol dried up after the earnings yesterday. Best thing I can find to do at the moment is set up put selling or jade lizard ladders on individual names. Starting 21 or 28 DTE add a new position each week. 3 I am looking at are TSO, WDC, GILD and possibly EXPE. Seem to have the best bang for the buck over the next few weeks as the premiums are still high, about $1 for delta 30 options. VIX is too low for /ES strangles.

Upside Warning relative performance

#VIXIndicator #Markets
I’ve created a chart to compare the performance of Upside Warnings with the correction that precedes it. The bigger the correction, the bigger the subsequent rally in the SPX. This is no surprise, but I wanted to see how it charted from all Upside Warnings since 1999. The mini-correction we just had was exactly 3.00%, which is tied for smallest with one in 2013. So the move up we should expect now is relatively minor. The first bar on the chart is that 2013 example… SPX increased 3.44% from the close of the Upside Warning day to the next SPX high. A 3.44% move this time would be a high of 2469.58.

Let me know if you have questions!

Screen Shot 2017-04-28 at 8.24.48 AM

(note the only time there was a negative performance were the days leading up to 9/11/2001)

SPX risk/reversal

#SPXcampaign I remain bullish based on VIX Indicator Upside signal. Since it is taking its time going higher, I am placing another #RiskReversal which overlaps with my current one expiring May 5th.

Bought to Open $SPX May 12th 2410/2430 call spreads for 3.00
Sold to Open $SPX May 12th 2355/2330 put spreads for 2.90

My other May 5th R/R may expire worthless which will be a small gain since I sold the put spread for more than I paid for the call spread. If we get a surge next week, both R/R’s will profit.

#Closed Early #SPX Campaign #Short puts #Long Calls

Closed Early
$SPX 5/5 BTC 2455/2430 @.30 79% profit
#longcalls #earningstrade
$SRPT STC 4/28 35 Calls @ 3.00 BTO 4/26 @ 2.30

$AMZN STO 5/5 930 Put @ 7.10
$ULTA STO 5/19 270/275 BUPS @ 1.00 #earnings

$SPX STO 5/26 2275/2300 BUPS @ 1.45 Thank you @jeffcp66

$NFLX BTO 6/16 150 call 6.40 Expect stock to appreciate as result of $BIDU deal


#SPXcampaign  Jeff  Followed you in my humble way.  Sold May 19th 2300/2280 Put spread at 0.85.


STO May 5 $960/$965 call spreads @ $0.79

Earnings updates

BTC $AMZN 920/950 call spreads for 22.00. Sold yesterday for 24.15 (as #IronButterfly)
BTC $SRPT 38.5 calls for .80. Sold yesterday for 1.75 (as 31.5/38.5 strangles).
$FFIV, order in to close 126 puts for .10 (sold as 126/146 strangles for 1.00)
$EXPE 126/146 strangles sold for 1.05… allowing to expire
$PEP 112/115/118 iron butterflys sold for 1.85; early-assigned some stock at 115; going to take assignment on the rest and own stock with 113.15 cost basis.
$ANTM 165/170/175 IB sold for 3.50; the loser for the week. Will allow execution for 5.00, so 1.50 loss.
$DPZ May 19th 165 puts. Order in to close for .05.

All this plus the CMG win… only one loss and one assignment so a very good week!

#vol crush Thanks to volatility…

#vol crush
Thanks to volatility crush on WDC get to close out next 3 weeks of WDC puts at the 75 and 77.5 level for 0.06 and 0.13 and 0.14 3 weeks early. Originally sold for 1.10-1.25.
Too many patients to trade at the moment but maybe at lunch will be able to find a trade to re-deploy capital.
Anyone have good put selling ideas today? Or a jade lizard?

$SVXY #ShortCalls #Rollup – a…

$SVXY #ShortCalls #Rollup – a 2nd roll on this position.
Bought to close SVXY Apr 28 2017 137.50 Calls/ Sold SVXY Jun 2 2017 146 Calls @ 0.52 Credit.
Originally rolled Mar 17 2017 125.0 Calls up to these 137.50 Calls for a 0.20 credit.
At the time the strike was above the alltime high in SVXY.
The new strike is right at the current alltime high. Maybe this one will work.

On the plus side I have 27 short SVXY puts expiring today. So It’s not all bad.

SPX puts sold

#SPXcampaign Sold to Open $SPX May 26th 2300/2275 put spreads for 1.40.

$AMZN #CoveredCall Sold $AMZN Jun…

$AMZN #CoveredCall
Sold $AMZN Jun 16 1020 call @ 5.50

#SPXcampaign Jeff, Noticed you still…

Jeff, Noticed you still have $SPX May 1st 2390/2415 open! Is the plan to hold or close out today and roll? I was just curious as I closed yesterday for 4.70.

Economic Data

8:30am EST Advance GDP q/q1.3%
8:30am EST Advance GDP Price Index q/q2.0%
8:30am EST Employment Cost Index q/q0.6%
9:45am EST Chicago PMI56.9
10:00am EST Revised UoM Consumer Sentiment98.1
10:00am EST Revised UoM Inflation Expectations
1:15pm EST FOMC Member Brainard Speaks
2:30pm EST FOMC Member Harker Speaks

Earnings before Open
AGCO Corp. (AGCO) – consensus EPS -$0.17
Ardent Mines Limited (ADNT) – consensus EPS $2.39
Autoliv (ALV) – consensus EPS $1.55
Chevron (CVX) – consensus EPS $0.92
Colgate-Palmolive (CL) – consensus EPS $0.66
ExxonMobil (XOM) – consensus EPS $0.87
General Motors (GM) – consensus EPS $1.46
Goodyear Tire (GT) – consensus EPS $0.63
Host Hotels & Resorts (HST) – consensus EPS $0.15
Phillips 66 (PSX) – consensus EPS $0.13
Royal Caribbean Cruises (RCL) – consensus EPS $0.92
Sanofi (SNY) – consensus EPS N/A
Spirit Airlines (SAVE) – consensus EPS $0.49
V.F. Corp. (VFC) – consensus EPS $0.55

Earnings After Markets Close
Itaú CorpBanca (ITCB) – consensus EPS $0.13

#Earnings #Short Puts # Closed…

#Earnings #Short Puts # Closed Early # Expiration

$EXPE 4/28 126/146 Strangle @ 1.06 Thank you @jeffcp66 Stock down to 134 after hours. So far so good.
$BIDU 5/19 165/170/205/200 IC @ 1.20 (OMM Trade) Stock down to 179.50 after hours. So far so good.

$AAL STO 5/12 42.50 put @ .49 Thank you @honkhonk81 via Bridget @ OMM

Closed Early
Half smart or more likely prudent
$GOOGL STC 5/19 850 call @ 30.80 Bought 4/18 for 22.30. Did keep a GOOGL long call through earnings. Is a YIPEE in order?

$SPX 4/26 2410/2385 BECS at a 55 cent per contract loss.

#VIX – some interesting charts…

#VIX – some interesting charts in this article –


$VIX #VXXGame – the VIX…

$VIX #VXXGame – the VIX is a 10.37 and is right at near term support. I know it can stay low for extended periods of time but this is the area where it has bounced from in the past.
Looking out a few weeks I would expect another bounce to the 12 area. That is where I start selling volatility again.
For now I’m letting old positions roll off via expiration or covering longer term positions if they continue to decay toward minimum value.

$UVXY #ShortCalls – Bought to…

$UVXY #ShortCalls – Bought to close UVXY3 JUN 16 2017 35.0 Calls @ 0.01. They won’t trade any lower.
These were the pre-split contracts.
Originally sold on 12/30/2016 @ 0.96. Out 50 days before expiration.

#earningstrade BIDU May 19 IC…

#earningstrade BIDU
May 19 IC 165/175/200/210, BIDU is at 187, received 2.44

$X #ShortPuts #FallingKnife – Sold…

$X #ShortPuts #FallingKnife – Sold 1 X OCT 20 2017 18.0 Put @ 1.26

$NUGT #ShortPuts – getting a…

$NUGT #ShortPuts – getting a few of these done today
Sold NUGT MAY 19 2017 7.0 Puts @ 0.45
Sold NUGT MAY 26 2017 6.5 Puts @ 0.29
Sold NUGT JUN 2 2017 6.5 Puts @ 0.36

$MCK #ShortPuts – Bought to…

$MCK #ShortPuts – Bought to close 1 MCK MAY 19 2017 110.0 Put @ 0.05. It won’t trade any lower.
Originally a #FallingKnife trade that was sold at 1.55 on 1/27. Out of the trade almost month early.

$TRIP #ShortCalls – Sold TRIP…

$TRIP #ShortCalls – Sold TRIP May 19 2017 52.5 Calls @ 0.35 with the stock at 45.15.
These are paired off against old #FallingKnife Puts from 40 down to 35

$DUST #ShortCalls – sold a…

$DUST #ShortCalls – sold a few more today
Sold DUST May 19 2017  45.0 Calls @ 0.75
Sold DUST Jun 02 2017  49.0  Calls @ 0.90

falling knife over trade

STO 3 next week GILD 66.5 puts at 0.65. Looks like it found a bottom at 66 and my dynamic trend wave indicator (one of the few tools I bought) is on a 4 hour buy signal which is usually good for a 1 week trade.

AMZN iron butterfly

#Earnings My order is in to sell $AMZN Apr 28th 890/920/950 IB for 25.00. Will consider lowering my ask if no fill by 3:30 ET.


CMG earnings (and others)

#Earnings BTC $CMG 520 calls for .05. Sold strangles for 2.50, all closed now for .10 total.
$FFIV hovering around my short 126 puts. Will hold until tomorrow
$DPZ up as needed; order in to close for .05, with May 19th expiry
$PEP still needs a lift toward 115 to be profitable. Yesterday closed the 115 short calls for .05.
$ANTM needs to drop below 173.50… not too likely

#earningstrade #rollof the dice SBUX…

#earningstrade #rollof the dice SBUX
Bought a long straddle (hey-Jeff and I and probably others went long on SPX yesterday), May 19 55/66 for .18, will need more than a 10% move over 3 weeks to be profitable.

EXPE earnings

#Earnings Sold to Open $EXPE Apr 28th 126/146 strangles for 1.05. Over last 12 earnings, Biggest UP move: 12.9%, Biggest DOWN move: -11.5%, Average move: 6.6%. These strikes are -7.7% and +7.0% OTM. I’m playing inside its max moves, but its more recent reports have been milder.


STO June 16, 105 puts @ 2.23 Taking one for the team.

AAL, STO August 35 puts @.63


STO December 95 puts @1.60

SRPT earnings

#Earnings Sold to Open $SRPT Apr 28th 31.5/38.5 strangles for 1.75. Over last 12 earnings, Biggest UP move: 7.2%, Biggest DOWN move: -9.3%, Average move: 5.6%. These strikes are -10.5% and +9.4% OTM.

Biotech stocks can be wily, so trade carefully. This one, however, does not typically have huge earnings moves.

AMZN earnings

#Earnings Tough call here… it has run so hard and strong hard to believe it will =go too much higher on the report, even though I think it will break 1,000 later this year. At same time, will it really take a dip on earnings, like last quarter?

I’m considering another wide butterfly, like @fuzzballl‘s idea last quarter. It took stock assignment and an extra week but worked in the end.

Thoughts out there?

Bunch of trades

Rolled AAL 41.5 puts this week to May 12 for .81 credit
BTC IWM 135 puts this week for 0.02 sold for .77
STO EXPE May 129 May puts for 1.25
Rolled EXPE this week 125 puts to May 5 129 puts for 0.78 credit (market makers being greedy with earnings this week)
These are all retirement accounts so small size but still $1225 profit for the week and I will take it.

Vix is too low to sell indexes so sticking with individual names with better volatility and premiums. Apparently the markets only go up anymore.


BTC April 28,  85 puts @.01, I forgot I had the order in good til canceled.

DUST new weeklies

Sold $DUST Jun 9 47 calls @ 1.20. Highest strike.

Earnings before Open

AU Optonics (AUO) – consensus EPS $0.21
AbbVie (ABBV) – consensus EPS $1.26
Alexion Pharma (ALXN) – consensus EPS $1.23
Ally Financial (ALLY) – consensus EPS $0.49
American Airlines (AAL) – consensus EPS $0.55
American Electric Power (AEP) – consensus EPS $0.98
American Tower (AMT) – consensus EPS $0.64
AstraZeneca (AZN) – consensus EPS N/A
Bristol-Myers Squibb (BMY) – consensus EPS $0.74
Brunswick (BC) – consensus EPS $0.82
CBRE Group (CBG) – consensus EPS $0.34
Celgene (CELG) – consensus EPS $1.64
Cliffs Natural Resources (CLF) – consensus EPS $0.15
Comcast (CMCSA) – consensus EPS $0.44
Dow Chemical (DOW) – consensus EPS $0.98
Ford Motor (F) – consensus EPS $0.36
Johnson Controls (JCI) – consensus EPS $0.49
L-3 Communications (LLL) – consensus EPS $1.81
MGM Resorts (MGM) – consensus EPS $0.29
Marathon Petroleum (MPC) – consensus EPS -$0.03
Nokia (NOK) – consensus EPS $0.03
Raytheon (RTN) – consensus EPS $1.61
Sirius XM (SIRI) – consensus EPS $0.04
Southwest Airlines (LUV) – consensus EPS $0.63
UPS (UPS) – consensus EPS $1.29
USG Corp. (USG) – consensus EPS $0.45
Under Armour (UA) – consensus EPS -$0.04
Xcel Energy (XEL) – consensus EPS N/A
Zimmer Biomet Holdings (ZBH) – consensus EPS $2.11

Earnings After Markets Close
Aflac (AFL) – consensus EPS $1.62
Alphabet (GOOG) – consensus EPS $7.40
Amazon.com (AMZN) – consensus EPS $1.13
Baidu.com (BIDU) – consensus EPS $0.86
Expedia (EXPE) – consensus EPS $0.07
FirstEnergy (FE) – consensus EPS $0.75
GoPro (GPRO) – consensus EPS -$0.44
Intel (INTC) – consensus EPS $0.65
Microsoft (MSFT) – consensus EPS $0.70
Mohawk Industries (MHK) – consensus EPS $2.71
Principal Financial Group (PFG) – consensus EPS $1.16
Starbucks Coffee (SBUX) – consensus EPS $0.45
Western Digital (WDC) – consensus EPS $2.13

Upside Warning Fired today

#VIXIndicator An Upside Warning fired today with the third consecutive day below the 78.6% Fib retracement. This means higher index prices are very likely in the coming days or weeks. Below is the VIX chart for the mini-correction we just completed, and today’s warning. Below that is data from last summer on the Upside Warning. I will be updating this soon.

Screen Shot 2017-04-26 at 1.33.52 PM
ARROWS: Yellow=1st downside signal; Green=reset 50% warning level; Red=Downside Warning; Pink=Cancel Downside Warning; Cyan=Upside Warning

Upside Warning Data as of last summer:

1. 33 corrections since Nov 1999, as determined by the VIX Indicator’s downside signals. These corrections average 12.5% each. Smallest was 3% and largest was 53.7% (2008-9).
2. Of those corrections, an Upside Warning fired 28 of the 33 times.
3. In 27 out of 28 times, the SPX continued higher after the Warning.
4. The average SPX bottom to top recovery was 16.4%. The average rise AFTER the Warning was 6.40%. This means that the Upside Warning captured an average of 38.9% of each recovery.
5. The average amount of time between an Upside Warning and the next SPX high is 2.5 months.

In summary, when an Upside Warning fires it is almost guaranteed that more upside will come, and it could last several weeks.

Opting Out of Op Ex this week…

…going to LAS for a little fun and sun, still raining in PDX, while there taking time to check off another Bucket List item. Always wanted to drive a NASCAR, so Friday about market close I’ll be rocketing around Las Vegas Speedway @ 160 mph with Drive Petty team, if all goes well, I’ll post GoPro dash cam on You Tube.
Trade safely and have a great weekend!

$SPX “reversal doji?”

The SPX closed negative on a long legged doji at the top of the move; this normally indicates indecision and may even be a sign of reversal….


STO January 2018, 80 puts @2.03

$MYL #CoveredCalls – Sold MYL…

$MYL #CoveredCalls – Sold MYL OCT 20 2017 45.0 Calls @ 0.65


STO January 62.5 puts @1.50

$DUST #ShortCalls #OptionLadder – sold…

$DUST #ShortCalls #OptionLadder – sold a bunch of calls on the run above 34
Sold DUST May 19 2017 45.0 Calls @ 0.70
Sold DUST Jun 2 2017 49.0 Calls @ 0.85 – Highest strike
Sold DUST Jun 16 2017 51.0 Calls @ 1.25

DUST rolls

#ContangoETFs #StrangleRoll In the DUST game again after a long absence!

Bought to close $DUST May 19th 35 calls for 2.80. Sold for 1.40 on Apr 19th.
Rolled into a strangle: Sold June 16th 24/47 strangles for 2.85.

Now that DUST in plummeting, I clearly rolled this too early.

Also, sold to open DUST Jan 19th 2018 85 call for 4.00.

Tax Cut Being Explained…watch your…

Tax Cut Being Explained…watch your indices!?

Edit: Hmm…already priced in?

DUST calls

Sold $DUST May 19 45 calls @ .65. Idea from @optioniceman from yesterday.

WYNN again

#ShortStrangles – WYNN did it to me again….same as last quarter. Changed earnings dates the weekend before the announcement. Had rolled my strangle into what was supposed to be the week before earnings. Plan was to then have a nice adjusting roll into earnings week. Turned out to be the week of earnings so IV exploded along with a huge move so adjusting again. Kind of a pain but has been a nice cash generator last few months.

Bought to Close WYNN APR 28 2017 120.0 Puts @ .05 (sold for 2.17)

Rolled WYNN 105 calls to May monthly 130/110 inverted @ 1.12 credit.


#ShortStrangles – Having to take care of some of these earlier than I would like but I’ll be out the rest of the week except for maybe a few last minute rolls from the phone (in between golf shots 🙂 )

Bought to Close CMG APR 28 2017 480.0 Put @ 6.10 (sold for 15.00 after multiple roll-ups)

Replacing that with:

Sold CMG MAY 19 2017 470.0 Put @ 7.01

Selling against a Jun 450 short call…

SPX reverse roll

#SPXcampaign Stop hit on a call spread so I reversed it, shorter term.

Bought to close $SPX May 12th 2420/2445 call spread for 4.00. Sold for 1.65 last Friday.
Sold to Open $SPX May 10th 2375/2350 put spreads for 4.15.

I had many trades yesterday I didn’t have time to post due to travels. I hope to have the chart revised today or tomorrow but let me know if there are questions on any positions.


Earnings for today

#Earnings Sold a strangle on FFIV and puts on DPZ (both posted below). I’m trying for three others that probably won’t fill… no plans to adjust so if they don’t fill, no trade:
$PYPL Apr 28th 44.5/43.5 put spread for .50
$ALXN Apr 28th 112/133 strangle for 1.00
$EQIX May 19th 380 puts for 2.75

Anyone trying for other symbols?

DPZ earnings

#Earnings #ShortPuts Sold to Open $DPZ May 19th 165 puts for 1.10. A strong performer on earnings and overall. Willing to go with 23 days until expiration. May try to sell 210 calls if it rallies into the close.

On last 12 reports, its move after 21 days: Biggest UP move: 15.8%, Biggest DOWN move: -8.5%, Average move: 6.7%. This trade is -8.7% OTM.


STO January 2018 60 calls @1.55 on 2 contracts. My first trade in this expiration.

Earnings updates

#Earnings from yesterday

Bought to close $CMG Apr 28th 430 calls for .05. Order in to close 520 calls for same. Strangle sold yesterday for 2.50.

$PEP, needs to rise closer to 115 by weeks end. Has a good shot. Sold 112/115/118 IB for 1.85.

$ANTM, needs to fall toward 170 by week’s end. Less likely to work than PEP; should have leaned bullish on this one, and as you can see from yesterday’s post, I realized it right after my trade executed! Sold 165/170/175 IB for 3.50.