#off Topic # $SPX Changes…

#off Topic # $SPX Changes From CBOE
Conversion of SPXPM Options to Symbol SPXW
By Matt Moran

CBOE is planning to change the symbol for existing SPXPM option series to option symbol SPXW. The change is scheduled to be effective May 1, 2017. This conversion is designed to allow greater ease of access for those looking to place spreads from week to week. We have received some very positive feedback from institutional investors on this change to the symbol SPXW.

Here are key features that will apply beginning next month to the S&P 500® options expiring on the standard expiration dates (i.e., generally the third Friday of the month). The A.M.-settled options trading under root symbol SPX, and the P.M.-settled options trading under root symbol SPXW, will both be in the same underlying SPX options chain. The settlement symbol for the A.M.-settled SPX options is “SET”, while the settlement for the P.M.-settled SPXW options is based on the official SPX closing price on the expiration date.

For more details, visit www.cboe.com/SPXW.

As shown in the chart below, CBOE now offers S&P 500 options with expirations on Mondays, Wednesdays, Fridays, and month-ends, and the average daily volume for all the S&P 500 options was more than 1.19 million contracts in March 2017.

The S&P 500 options volatility skew chart below (from www.livevol.com) provides estimates for implied volatility for S&P 500 options at different strike prices that expire on April 12, 13, 17 19, 21, 24, 26, 26, and on later dates.

SPXW options can provide opportunities for investors to implement more targeted buying, selling or spreading strategies. SPXW options may help investors efficiently take advantage of market events, such as earnings, government reports and Fed announcements. To learn more, please visit www.cboe.com/SPXW.

$NFLX – little reaction to…

$NFLX – little reaction to earnings. – All short strangles will work.
My buy orders are already in at a penny


#ShortPuts  Sold May 19th 26 Puts at 0.74 with the stock @ 26.99.  $MU has shown support on pullbacks close to the 50dma.  I waited until the afternoon in the event the stock rolled over after this mornings gyrations.   Earnings are not until late June.  Stop alert set for a break below the 50dma.

NFLX Earnings Trade

Sold $NFLX Apr 21 132/160 strangle @ 2.41


STO June 2, 70 puts @.95, Hat tip to Taylor

$UVXY $SVXY $VIX – volatility…

$UVXY $SVXY $VIX – volatility is rolling over as expected (see my earlier post). I got a few trades off.
Sold 1 UVXY May 19 2017 42.0 Call @ 1.20
Sold 1 UVXY Jun 2 2017 40.0 Call @ 1.64

Sold 1 SVXY Jun 2 2017 70.0 Put @ 1.21
Sold SVXY Sep 15 2017 50.0 Puts @ 0.97

#earnings NFLX followed Jeff with…

#earnings NFLX
followed Jeff with 130/125 put spreads for .47 each
followed Mike at TT put butterfly 129/135/135/138 for .20, profitable above 131, risk of 276 to make 324
bought a 128 put for some blow out protection