#Earnings #ShortStrangles
Sold to Open $FFIV 126/150 strangles for 1.00. Over last 12 earnings, Biggest UP move: 9.6%, Biggest DOWN move: -10.0%, Average move: 5.1%. These strikes are each 8.7% OTM.
Monthly Archives: April 2017
$UVXY
Have a number of orders in to close positions.
BTC May 5 $39 calls @ $.02, sold for $.50
SPX risk/reversal
#SPXcampaign An Upside Warning is going to fire today, barring any intraday market shock, so I’m going long call spreads on SPX. My favorite way to do this is to sell an equal-priced put spread so the cost of the purchased call spread is zero… unless, of course, I’m completely wrong and the market tanks. But that’s quite unlikely in the near term. If the long call spread fails, the put spread will likely expire worthless and net cost is zero in the end.
Bought to Open $SPX May 5th 2415/2435 call spreads for 2.20.
Sold to Open $SPX May 5th 2365/2340 put spreads for 2.40.
If we don’t get a strong up move by the end of this week, I will be doing this again with further dated expiration.
IRBT
BTC June 46 puts @ .05 cents. Sold @1.35 so not much more to be made on this one. Closed 7 weeks early so happy to free up capital.
Efficiency of capital
I did a mini study last year that was an extension of some of the tastytrade strangle work. I was trying to figure out what was the most efficient use of capital on both a percentage basis and ROC. I only did it with a few tickers and specifically was looking at use of margin and buying power reduction selling various options. I looked at uso, spy, dia, qqq, gld, and iwm against the futures or the index. It was fairly extensive so to keep it simple will just show /es/spy/spx. Here is the quick summary and it was true for the others with the exception of qqq, the futures options were not liquid enough in that.
Selling delta 8 options 45 DTE. Keep in mind spy was under 200 and the vix was around 14-15 so the #s are different today.
I looked at how much money it would require to actually cover the position or at least avoid a margin call.
SPY needs about $6000 per contract to cover a large move without a margin call
SPX needs about $40,000 per contract to cover
/ES needs about $6000 per contract to cover
What this means. From a percentage standpoint SPY actually wins but from a ROC /ES is the more efficient product because you are selling higher premiums. From a strangle standpoint SPX is the worst and tastytrade also did a study that found spy is more efficient than spx because of the tighter bid/ask spreads. However, there is a tax advantage and volume advantage to spx or /es.
What I take from this is if you have a smaller account stick with spy, medium account move up to /es and if you have a private jet trade spx or /es.
For those that do not know the ratio 10 SPY = 1 SPX = 2 /ES contracts.
Interestingly the most efficient market from a percentage basis was /CL oil futures requiring only about $4000 per contract. Just watch the leverage on any of them, that is the only thing that has ever cost me on trades gone bad. Now I always keep enough cash to cover the position in a black swan event.
Hope that helps, cheers, Chris
Earnings before Open
Anthem (ANTM) – consensus EPS $3.80
BCE, Inc. (BCE) – consensus EPS $0.62
Baxter (BAX) – consensus EPS $0.52
Boeing (BA) – consensus EPS $1.93
DTE Energy (DTE) – consensus EPS $1.55
Dr Pepper Snapple Group (DPS) – consensus EPS $0.96
Fiat Chrysler Automobiles (FCAU) – consensus EPS $0.45
General Dynamics (GD) – consensus EPS $2.32
Hershey Foods (HSY) – consensus EPS $1.25
Ingersoll-Rand (IR) – consensus EPS $0.53
NASDAQ (NDAQ) – consensus EPS $1.06
Norfolk Southern (NSC) – consensus EPS $1.35
Northrop Grumman (NOC) – consensus EPS $2.92
Oshkosh Corp. (OSK) – consensus EPS $0.75
Owens Corning (OC) – consensus EPS $0.59
Penske Automotive Group (PAG) – consensus EPS $0.96
Pepsi (PEP) – consensus EPS $0.91
Procter & Gamble (PG) – consensus EPS $0.94
Seagate Technology (STX) – consensus EPS $1.07
State Street (STT) – consensus EPS $1.10
Twitter (TWTR) – consensus EPS $0.01
United Technologies (UTX) – consensus EPS $1.40
Wyndham Worldwide (WYN) – consensus EPS $1.11
Earnings After Markets Close
Axis Capital (AXS) – consensus EPS $1.00
Buffalo Wild Wings (BWLD) – consensus EPS $1.69
Cincinnati Financial (CINF) – consensus EPS $0.74
F5 Networks (FFIV) – consensus EPS $1.97
FMC Technologies (FTI) – consensus EPS N/A
Las Vegas Sands (LVS) – consensus EPS $0.61
O’Reilly Automotive (ORLY) – consensus EPS $2.89
Packaging Corp. (PKG) – consensus EPS $1.25
PayPal (PYPL) – consensus EPS $0.41
Suncor Energy (SU) – consensus EPS $0.24
Whiting Petroleum (WLL) – consensus EPS -$0.20
XL Group (XL) – consensus EPS $0.44
Debit Spread on the $SPX
#BuCS at the end. BTO May 3rd SPX 2415/2435 for $2.00
I’ll risk $1.00 on this trade, which possibly could make $18 if the SPX ends up at 2435 by May 3.
I don’t plan on holding it that long though. I may get out if tomorrow the market jumps again and it doubles in price. Low Probability big reward low risk trade.
#trading fees Had a good…
#trading fees
Had a good thing this week. Bonus for taking a class with theo trade (Don Kaufman) where they would hook you up with better fees at tos, > >> Options: $1 per contract no ticket charges or minimum fee
> >>
> >> Stock: $6.95 flat rate.
I have been with tos for many years and asked for lower rates with not much success.
Cost of class was 79.00 well worth it for me.
I have no affiliation with them etc….
Walter
$TLT Closing some #ShortCalls Bought…
$TLT Closing some #ShortCalls
Bought to close $TLT May 19 123 calls @ .82. Sold for 2.47 as a rollout (from April 122.50 calls) on 4/18. Net profit per contract of 1.23 for overall position including rollout.
I am also still short a May 120/124 strangle (120 puts had been rolled up from 116) that I will leave on for now but with a few more days of time decay (and TLT calming down) I will look to take that position off as well.
SPX Campaign Plus Close $SVXY Early
#spxcampaign
$SPX 5/5 2300/2350 BUPS @ 2.00
#vxxgame
$SVXY BTC 5/12 65 put @ .05 Sold 4/13 for .50
Earnings Gambling WYNN
#earnings
$WYNN STO 5/5 1o5/110 BUPS @ .60
$NUGT Closing position a couple months early
For near minimum value.
Bought to close $NUGT Jun 16 24 calls @ .03. Sold for 1.20 on 2/6.
$NUGT #ShortPuts #IRA – since…
$NUGT #ShortPuts #IRA – since I can’t short DUST Calls in this account to pair off with the DUST Put exposure, I’m going another way.
Sold NUGT May 26 2017 7.0 Puts @ 0.48
Sold NUGT Jun 2 2017 7.0 Puts @ 0.53
Sold NUGT Jun 16 2017 6.0 Puts @ 0.37
$DUST #ShortCalls – Sold DUST…
$DUST #ShortCalls – Sold DUST May 19 2017 45.0 Calls @ 0.65 with the stock at 33.50.
Paired with existing short puts. Highest available strike price.
$IWM Rolling the put side…
$IWM Rolling the put side of my May 130/140 strangle up
To capture additional premium (.61 credit)–
Rolled $IWM May 19 130 puts up to May 19 137 puts (25 delta).
Position is now a May 137/140 strangle for which I have now taken in a total of 3.37 in premium. If the Russell continues up I will roll the puts up again.
#Rollup
PEP earnings
#Earnings Slightly bullish #IronButterfly, since it worked for me last quarter. Usually only minor moves on earnings.
Sold to Open $PEP Apr 28th 112/115/118 IB for 1.85.
$SPX BeCS Closed
#SPX Campaign; Jeff, I decided to get rid of my BeCS. With the President revealing the Tax Reform tomorrow I thought that the market may jump another bunch of points up again.
I’ll wait until the VIX give us the green light to get back in.
Took a little loss but nothing to write home about. Still up nicely for the week.
$SPX
#SPX Campaign Jeff, Thanks for the VIX comment. With the morning gap up I elected to close my May 19th 2435/2455 BeCS for 1.70, a .70 loss sans commissions. I was filled when the SPX was @ 2387.21. I think I will wait for the week to play out before venturing back in. #
ANTM earnings
#Earnings Not a big mover on reports, and decent R/R.
Sold to Open $ANTM Apr 28th 165/170/175 #IronButterfly for 3.50. Max risk 1.50. Over last 12 earnings reports, Biggest UP move: 5.5%, Biggest DOWN move: -4.7%, Average move: 2.8%.
This trade is not taking into account the bullish trend. A better positioning might be around the 172.5or 175 strike, or broken-wing with bullish bias.
Closed TSLA and AMZN #BuPS…
Closed TSLA and AMZN #BuPS for 50% profit to avoid Thu earnings.
$DUST #ShortPuts #Rolldown – using…
$DUST #ShortPuts #Rolldown – using the drop in gold miners to do another roll on this position while taking a nice profit on the position I’m closing.
No way to predict where DUST will be on Friday.
Bought to close DUST Apr 28 2017 34.0 Puts/ Sold DUST May 26 2017 31.0 Puts @ 0.10 Credit.
Sliced another 10% off my strike price, which is now out of the money.
CMG earnings
#Earnings Sold to Open $CMG Apr 28th 430/520 strangles for 2.505 (avg price). Over last 12 earnings reports, Biggest UP move: 11.8%, Biggest DOWN move: -9.3%, Average move: 6.8%. These strikes are -8.5% and +10.6% OTM respectively. Leaning bullish because that’s what the option prices are doing; despite being further from current price, the 520 call is going for twice the price of the 430 put.
#earningstraderepair GS April 17, back…
#earningstraderepair GS
April 17, back when the market was going to crash, I sold an iron fly, GS dropped, rolled the puts to May, closed them today, made 1.20 overall on all of the transactions.
The certainty of more upside
#VIXIndicator #Market
This is my last day of traveling so I do not have time to post statistics… you can see past posts by clicking on this: #VIXIndicator
The signal we are now building, VIX closes below the Fib 78.3% retracement, is a very reliable sign that the SPX will continue higher in the coming days. There have been over two dozen occurrences of this since 1999, and in all but one there was no significant pullback for multiple days or weeks.
I am stopping my self out of many call spreads and selling put spreads, some of the them ATM or NTM. I’ll post more stats on this later this week.
SVXY roll
#VXXgame #StrangleRoll Getting out of ATM and ITM SVXY call positions, one at a time…
Bought to close $SVXY Jun 16th 140 call for 12.75. Sold for 6.60 on Jan 20th
Sold to Open SVXY Jun 16th 135/155 strangle for 13.15
Also, BTC UVXY May 5th 40 call for .01. Sold for .75 on Apr 13th
$VXX #ShortCalls – Bought to…
$VXX #ShortCalls – Bought to close VXX May 12 2017 30.0 Calls @ 0.01. They won’t trade any lower.
Earnings before Open
3M Co. (MMM) – consensus EPS $2.06
AK Steel (AKS) – consensus EPS $0.15
AutoNation (AN) – consensus EPS $0.91
Baker Hughes (BHI) – consensus EPS -$0.21
Biogen (BIIB) – consensus EPS $5.00
Brinker International (EAT) – consensus EPS $0.85
Caterpillar (CAT) – consensus EPS $0.62
Coca Cola (KO) – consensus EPS $0.44
Corning (GLW) – consensus EPS $0.35
DuPont (DD) – consensus EPS $1.39
Eli Lilly & Co. (LLY) – consensus EPS $0.96
Fifth Third Bancorp (FITB) – consensus EPS $0.37
Freeport-McMoran (FCX) – consensus EPS $0.18
JetBlue Airways (JBLU) – consensus EPS $0.24
Lockheed Martin (LMT) – consensus EPS $2.79
McDonald’s (MCD) – consensus EPS $1.33
PulteGroup (PHM) – consensus EPS $0.29
S&P Global (SPGI) – consensus EPS $1.38
SAP AG (SAP) – consensus EPS $0.78
Valero Energy (VLO) – consensus EPS $0.63
Xerox Corp. (XRX) – consensus EPS $0.16
Earnings After Markets Close
AT&T (T) – consensus EPS $0.75
Acadia Healthcare (ACHC) – consensus EPS $0.46
Arch Capital Group Ltd (ACGL) – consensus EPS $1.33
Capital One Financial (COF) – consensus EPS $1.97
Chipotle Mexican Grill (CMG) – consensus EPS $1.26
Discover Financial Services (DFS) – consensus EPS $1.46
JBT Corp. (JBT) – consensus EPS $0.51
Juniper Networks (JNPR) – consensus EPS $0.42
Texas Instruments (TXN) – consensus EPS $0.83
Universal Health (UHS) – consensus EPS $2.07
Wipro (WIT) – consensus EPS $0.13
Wynn Resorts Ltd (WYNN) – consensus EPS $0.96
Downside Warning was canceled Monday
#VIXIndicator is updated (click “Home/REFRESH” to keep right-hand column updated)
Volatility was crushed on Monday, dropping over 25% and closing below the VIX 78.6% Fib line to cancel the Downside Warning.
Tuesday’s first warning level 13.55 (25% above 2-day closing low), and 14.96 would establish a new Downside Warning. Alternatively, three consecutive closes below 11.32 will constitute an Upside Warning.
Trading brains
So it looks like most of the traders on this site have had similar trading journey’s. Start out trading some funds and stocks when younger. Realize it is a 50-50 game most of the time. Then try to trade directionally but really hard to predict the future all the time. Then get into options for the leverage and income and then finally realize the house always wins and selling options is how the professionals make big and steady money. Sure, may have to pay out the occasional lottery ticket but in the long run the casino/insurance company always wins. Good to be on the right side of the trade and glad to be here!! I will be picking some of your brains on these volatility trades.
SPX Campaign
$SPX STO 5/26 2465/2440 BECS @ 1.55 Thank you @jeffcp66
Closed early
$SPX BTC 5/5 2220/2245 @.15 89% profit
SVXY trades closed
#VXXGame After selling multiple options on volatility spikes, I usually prefer to close them for 80-95% of max profit rather than wait for expiration. So I put close orders on all short volatility positions today. These filled:
BTC SVXY May 19th 75 put for .12. Sold for 1.30 on Apr. 11
BTC SVXY May 12th 65 puts for .05. Sold for .60 on Apr 13th
$SPX
Sold May 19th 2435/2455 Bear call spread @ 1.00. Revisiting this to build my experience in placing and management. We shall see.
$TDG #ShortPuts #FallingKnife – Bought…
$TDG #ShortPuts #FallingKnife – Bought to close 1 TDG May 19 2017 125.0 Put @ 0.05.
It won’t trade any lower and still has a month to run before expiration.
Originally sold only 1 month ago at 1.55.
SPX Trade
March 29th Sold 2 ea April 2275 Short puts @ 7.70
April 24th Bought 2 April 28th 2275 short puts @ 0.60
gain @ 92%
April 6th sold 2 ea May 5th 2270 short puts @ 7.40
April 24th bought 2 ea Mat 5th 2270 short puts @ 1.30
Gain 85%
April 6th sold 2 ea May 12th 2255 short puts @ 8.60
April 24th bought 2 ea Mat 12th 2255 short puts @ 2.30
Gain 71%
Closed out my April Options Month…when the gap up today fills to the down side,
I’ll sell my 2nd shorts against the existing longs..for the may trades..
SPX calls stopped
#SPXcampaign Bought to close $SPX Apr 26th 2375/2400 call spreads for 7.00. Sold for 2.90 on Thursday. Was working on getting out as it pulled back in the last hour, but missed my fill and ended having to chase as it burst to a new high. Why does it so often work that way?
Will wait to roll this tomorrow. As of right now, it looks like the massive VIX drop will be ending the downside warning today.
# Thanks test
SPX chart updated
Long overdue because of travels, but just updated my positions. The minor market pullback got me out of all ITM call spreads. I’m now pressured on a couple expiring this week but will be rolling if we break 2375.
Be sure to click “Home/REFRESH” to keep your screen updated.
#SPXcampaign
I was thinking about selling…
I was thinking about selling some spy or /es strangles but with the vix back down to 11 will focus on individual names that have good vol and premiums.
My short list I watch every week is TSO, HAL, EOG, FSLR (falling knife), EXPE, DAL, AAL, WDC, SWKS, FB, BX, GS, GM (falling knife), JPM, GILD (falling knife) and CELG. Just watch the earnings dates, a lot of them are next week. You can typically make 1.00 several strikes OTM with these with only 1 week out.
$UVXY within pennies of new…
$UVXY within pennies of new all time low. Wow, did this thing get crushed. I tried to put some trades on at the open before a complete collapse could occur but couldn’t get any fills for a decent premium.
#shortputs UVXY Sold May 19…
#shortputs UVXY
Sold May 19 13 put for .56, bought a 10 put for .o3
#BuPS BTC NFLX 135/125 BuPS…
#BuPS
BTC NFLX 135/125 BuPS for $0.59 Sold on Thu for $1.60
SPX puts closed
#SPXcampaign Bought to close $SPX May 5th 2230/2205 put spreads for .20. Sold for 1.40 on Apr 7.
RGLD position closed
#Earnings #Gold This was an earnings trade gone bad… assigned with an 85.00 cost basis back in August, stock dropped to 60 a couple times… finally put a trail stop on it and the final batch closed today. I don’t tend to wait forever for recovery on these assignments. My mistake was not putting stops on the stock at the beginning, since it did recover into profit territory briefly. Dividends and covered calls brought my cost basis down to the high 70’s… average stock sale around 69.00.
market makes being greedy this…
market makes being greedy this morning with the pop in the market, the WDC roll went through for .91.
SVXY
STO one contract of the January 195 call @10.60
Rolling WDC 75 puts this…
Rolling WDC 75 puts this week to May 26 77.5 puts for credit of around .95
They were originally sold for 1.20 and are down to .15-.17. Only 3 contracts but part of a ladder rolling for 4 weeks.
SVXY
STO one contract of the January 2018, 190 call @11.55
DB
I had covered calls expire on Friday and the stock jumped 10% this morning so I sold the stock at 18.15 for a small profit. Better to be lucky than smart sometimes.
HOS covered calls
BTC June 6 calls @.05, sold AT .55 This is one of the few pigs I was assigned on and no matter how much lipstick I put on this, it will not go away. Earnings are in May so I will resell the covered calls on the earnings run if there is one.
$UVXY
Bought to close my May 19th 39 Calls @ 0.12. Originally sold 4/11 for $1.51 on a roll to avoid the Sky is Falling scenario during my Chicken Little phase.
SPX call spreads sold
#SPXcampaign Sold to Open $SPX May 26th 2440/2465 call spreads for 1.60, with SPX at 2372.
I’m not going to worry about upside unless we break above the morning’s high, which was hit in the first minute of the day. If we get above that and hold, I will be rolling some near-the-money call spreads.
FXE
#ShortStrangles – I’m booking the quick profit since it was a decent size position (for me). Looking to sell again as the paranoia of the May 7th runoff gets wound up…
Bought to Close FXE MAY 19 2017 101.0/107.0 Strangles @ .50 (sold for 1.02)
Econ Calendar for week of 4/24/17
SPX puts closed pre-market
#SPXcampaign Close orders filled, bought to close the following $SPX put spreads:
Apr 26th 2255/2230 for .20. Sold for 1.35 on Mar 29th
Apr 28th 2225/2200 for .20. Sold for 2.75 on Mar 21st
Apr 28th 2260/2235 for .20. Sold for 1.30 on Mar 31st
May 1st 2275/2250 for .20. Sold as part of a #CondorRoll for 3.95 last Monday.
Earnings before Open
Bank Of Hawaii Corp. (BOH) – consensus EPS $1.08
Halliburton (HAL) – consensus EPS $0.03
Hasbro (HAS) – consensus EPS $0.38
Kimberly-Clark (KMB) – consensus EPS $1.55
NuStar Energy L.P. (NS) – consensus EPS $0.56
TCF Financial Corp. (TCB) – consensus EPS $0.26
Earnings After Markets Close
Alcoa (AA) – consensus EPS $0.70
Ameriprise Financial (AMP) – consensus EPS $2.52
Newmont Mining (NEM) – consensus EPS $0.23
T-Mobile (TMUS) – consensus EPS $0.34
W.R. Berkley (WRB) – consensus EPS $0.88
Whirlpool (WHR) – consensus EPS $2.72
Good morning from Milwaukee WI
Bam! go the markets because of… France. VIX Indicator is updated (click “Home/REFRESH” to be sure you have updated the right column). Downside Warning remains in effect until we get the close below 11.32; but we could be headed there so protect your short call spreads, roll if necessary.
Special Event YM Trade
The French Presidential elections this evening..The futures open up 200 or so..
Corrected Entry…due to Chart issues…My apology ..
Entered at 600, at market open..
Exited at 710 at the R2 Pivot..
+110 Points at open …
The Heiken-Ashi candles gave an incorrect gap up value..thus my entry at open
was at the 20600, not 20500, as was previously written…sorry for the erroneous entry..
#OptionsExpiration Even though this was…
#OptionsExpiration
Even though this was a monthly expiration, I actually have a much bigger expiration next week.
SVXY $75 puts
SVXY $80 puts
SVXY $85 puts
UVXY $23.5 calls
UVXY $27 calls
UVXY 28.5 calls
UVXY $41 calls
Was on a business trip without any market access during the day so was pretty much away from the market all week. Hope you all had a great trading week. I’ll try to read all of this weeks posts over the weekend to catch up on what people were doing.
Have a great weekend everyone.
#options expiration ADBE 110/115 put…
#options expiration
ADBE 110/115 put spread, overall a .16 loser as part of an iron condor
AMGN 175/185 call spread, rolled twice
CHK 6 covered calls
CONN long 8 put loser
DECK 40/50 put spread
ENDP 12 covered call
GILD 70/72.50 loser
GS 220/227.50 earnings call spread, put spread rolled
IBM 170/172.50 earnings call spread, put side rolled
ISRG 690/700 put spread, call side closed before earnings, break even
IWM 128 covered puts
LULU covered 55 call
NFLX earnings trades winner!
VXX 19 calls, partially covered
Friday Futures Trades
#OptionsExpiration for April monthly $AMZN…
#OptionsExpiration for April monthly
$AMZN 04/21/2017 950 calls (covered)
$CAT 04/21/2017 87.50 puts
$LULU 04/21/2017 50 puts
$M 04/21/2017 29 puts
$PANW 04/21/2017 105 puts
$QCOM 04/21/2017 49 puts
$SIG 04/21/2017 60 puts
$SVXY 04/21/2017 75 puts
$SVXY 04/21/2017 100 puts
$TSLA 04/21/2017 300 puts
$UNH 04/21/2017 160 puts
$UVXY 04/21/2017 30 calls
$X 04/21/2017 35 calls (covered)
No assignments.
Have a great weekend everyone. Will be watching the futures closely on Sunday as the French election results start to come out.
$VIX – Despite the late…
$VIX – Despite the late day pullback in $UVXY, $VIX futures contango settled at -0.70% (backwardation)
This is a small tailwind for $VXX and $UVXY holders and a small headwind for $SVXY
#OptionsExpiration $SVXY April 21st 125…
#OptionsExpiration
$SVXY April 21st 125 puts expired worthless…it was a ride this week!!!
Have a great weekend all.
#OptionExpiration $SVXY April 21st 125…
#OptionsExpiration
$SVXY April 21st 125 Puts Expired Quite a ride this week.
And that’s that. Have a great weekend all.
Expiration and Other Stuff
Good News
#optionsexpiration
$BABA 100/105 BUCS
$AMZN 780/805 BUPS
$AMZN 830/840 BUPS
$AMZN 865/875 BUPS
$AMZN 850/860 BUPS
$REGN 355/360 BUPS
$NFLX 120/130 BUPS
$GOOGL 800/820 BUPS
$LABU 44 calls
$SVXY 95 puts
$NKE 55 puts
$LULU 50 puts
Rolled a Few (No not that!)
$OCLR 10 put rolled to 5/19 @ additional .30
$SNAP 22 put rolled to 5/12 @ additional 1.20
NOT So Good News (Actually one is quite bad)
$GILD 70/72.50 BUPS Total Loss
$TSLA 310/300 BECS 400% loss based on initial cash taken in.
Earnings Trades
$IBM and $GS Butterflies B/E
$RENN 8/9 BUPS fun while it lasted
$EBAY 32.50 put assigned
Bad Trade
Assigned $KATE 23 put
Today’s Trades
#vxxgame
$SVXY 5/19 85 put @ 1.25. Thank you @jsd501
Thanks to everybody for sharing ideas and trading techniques.
Have a wonderful spring weekend.
#OptionExpiration #Apr21 #Monthlys – A…
#OptionsExpiration #Apr21 #Monthlys – A mostly profitable expiration with some longer term equity options expiring and plenty of ETF(Gold and Volatility) options too.
— Expirations —
COG Apr 21 2017 18 Puts
CVS Apr 21 2017 75 Puts
DUST Apr 21 2017 20 Puts
DUST Apr 21 2017 23 Puts
DUST Apr 21 2017 53 Calls
ISRG Apr 21 2017 830 Calls
MYL Apr 21 2017 42.5 Calls (Covered)
MYL Apr 21 2017 45 Calls (Covered)
NFLX Apr 21 2017 133 Puts
NUGT Apr 21 2017 7 Puts
NUGT Apr 21 2017 7.5 Puts
NUGT Apr 21 2017 8 Puts
NUGT Apr 21 2017 9.5 Puts
NUGT Apr 21 2017 13 Calls (Covered)
NUGT Apr 21 2017 15 Calls (Covered)
ORCL Apr 21 2017 49 Puts
SIG Apr 21 2017 60 Puts
SIG Apr 21 2017 65 Puts
SVXY Apr 21 2017 70 Puts
SVXY Apr 21 2017 75 Puts
SVXY Apr 21 2017 76 Puts
SVXY Apr 21 2017 77 Puts
SVXY Apr 21 2017 78 Puts
SVXY Apr 21 2017 79 Puts
SVXY Apr 21 2017 80 Puts
SVXY Apr 21 2017 85 Puts
SVXY Apr 21 2017 95 Puts
UVXY Apr 21 2017 22 Calls (Covered)
UVXY Apr 21 2017 22.5 Calls (Covered)
UVXY Apr 21 2017 23 Calls (Covered)
UVXY Apr 21 2017 32 Calls
UVXY Apr 21 2017 41 Calls
— Assignments —
UAA Apr 21 2017 25 Puts – going long some stock for a long term hold.
UAA Apr 21 2017 27.5 Puts
Expirations, Have a nice weekend.
FFIV 130 puts
JCOM 80 puts
QCOM 57 covered calls
DB 17 covered calls
IRDM 10 calls, will be called away
SVXY 70 puts
SVXY 75 puts
SVXY 85 puts
SVXY 105 puts
$DUST #goldminers STO Apr 28…
$DUST #goldminers
STO Apr 28 $33 calls for 0.30, delta 0.13 should be low risk.
$NUGT @ShortPuts – Sold NUGT…
$NUGT @ShortPuts – Sold NUGT May 12 2017 8.0 Puts @ 0.31. Rounding up my number of contracts to a multiple of 4 in case of assignment.
FEYE finally!
#CoveredCalls #IRA – Sold FEYE May 5 2017 12.0 Calls @ .96
After months and months of selling I’ll finally be out at a tiny profit. Sold this last batch in earnings week so great premium. Of course, now that my upside is capped, it’ll jump 50 percent on the announcement…LOL
Jade lizards for IRAs
A true jade lizard should have no upside risk. Could not do that with my WDC because I was at the top of the chain and the strikes were 2.5 wide. However, a good alternative to strangles in an IRA or non marginable account. You sell a put that is cash secured, then sell a call credit spread. If the credit exceeds the strike difference you have a strangle with no upside risk.
Another option with covered calls if you think the price will keep going up, sell a call credit spread. That way you cleect some credit but if the market takes off you can get a nice pop in your equity because you are net long call options.
Just random musings but I am sure some of you have tried these with good results. Jade lizards seem to be good for earnings. Manage them at 50% profit just like strangles.
$UVXY #ShortCalls – Sold 1…
$UVXY #ShortCalls – Sold 1 UVXY Jun 2 2017 40.0 Calls @ 1.15. Top of the chain with the stock at 19.79
SVXY
In my IRA, STO May 26, 70 puts @0.60 cents.
JCOM
STO June 16, 80 puts @2.20
In my IRA, SVXY, STO June 2, 75 puts @1.05
$SVXY #ShortPuts – SVXY drops…
$SVXY #ShortPuts – SVXY drops close to 125
Sold SVXY May 26 2017 75.0 Puts @ 0.96
Sold SVXY May 26 2017 80.0 Puts @ 1.26
Options Bistro 