A Little of This, A Little of That

$SPX 2415/2390 BECS Thank you Jeff

Closed Early
$GOOGL 5/19 825/635 BUPS @ .05 97% profit

$CMI STO 5/5 140/160 strangle Thank you Jeff

$SPX 5/12 2440/2415 BECS @ 2.20

X puts missed this trade…

X puts missed this trade last week while away, STO Oct 17 18 puts @ 1.47, I think thanks go to @optioniceman.

Bucket List: last week I said that I was out of pocket to tick-off a long awaited Bucket List event at Las Vegas Motor Speedway/Drive Petty, to drive a NASCAR at 160 mph…yup, that was the plan! You know what they say about Vegas..? Arrived at the track at closing bell, put on the fire suit, completed driver’s meeting and walked to the pit area for more safety instructions, issued a helmet with built in mic, stood around for the next race car w/instructor to pull up. Name called, now it’s time to fold my early mid-century body through the driver’s side window, no doors in this puppy, it’s filled with high impact metal tubing, in case of a-you-know-what…ok, right leg up and through, left leg up and through, then butt, stomach, chest and helmet bouncing off the roof…plopped, that happened real fast, into a plastic seat shaped like a toddler’s potty chair, hmm, did I go already, hands came out of nowhere “slap-click, slap-click, slap-click,” the hands disappeared only to return with a horses collar for my neck, now I really can’t, literally, can’t move any part of my body that includes breathing…I could have been in the Mercury space capsule for all I knew. Instructor introduces himself shakes my hand, oh I have something that moves thought I lost it on entry, asks if I’d done this before, I said yes, small time SCCA, that took all my breath the seat belts are to tight, I gasped, oh one more accessory, the steering wheel, Saturn just arrived 6 inches from my nose, he loosened the belts a little then started to explain dials, switches and hand signals, I sense hands again, raising the black webbing locking it into place with a huge piece of rebar. Mind you, there is no way to get comfortable unless you’re smoking weed, forward vision is restricted to about the size of a legal pad, no lateral vision I guess if you are racing you just listen for the sound of crunching metal. Backing up a little, some 15 years ago I almost drowned off of Cabo, caught in a rip, went down twice, my screaming summoned a surfer who hoisted me on her board by my shorts, another surfer took me to shore. The surfer lady that rescued my butt, just happened to be the mother of the champion girl surfer who’s left arm was bitten off by a shark. Ok, well the fear/panic I experienced of almost drowning, arose when I was seated in the confining race car. I got out, cancelled the drive. The Drive Petty folks said that it happens, sometimes…


After the close, STO May 19, 110 put @.67

Closing some UVXY

Reducing short vol exposure.
Bought to close the following:
$UVXY May 12 27.50 calls @ .03. Sold for 1.13 on 3/31.
$UVXY May 12 30 calls @ .03. Sold for 2.10 on 4/11.
$UVXY May 12 40 calls @ .03. Sold for 1.35 on 4/12.
$UVXY May 19 39 calls @ .03. Sold for 1.70 on 3/21.
$UVXY May 19 40 calls @ .04. Sold for 1.00-1.50 on 4/3-4/11.

Have a lot more to go. With the market at these levels I have a quick hook on positions that are getting under .05 to cover.

$SVXY #ShortPuts – Bought to…

$SVXY #ShortPuts – Bought to close 1 SVXY May 5 2017 75.0 Put @ 0.01- Originally sold at 1.15


At the close, STO May 19, 120 put @1.12 and 130 put @1.95

GOOGL adjustment

#LongCallDiagonals – Paying a small debit but that’s ok since this short call has accumulated 10.15 in premium so far.

Rolled May 12th 857.5 call to Sep 15th 880.0 call @ .90 debit

This thing has to level off at some point where the rolls can catch up. In the meantime 2019 long call/Bups working nicely.

Looking at rolling the 2019 long call up (again) which would take nearly all the risk out of the trade…

$SVXY #ShortPuts – Bought to…

$SVXY #ShortPuts – Bought to close 4 SVXY MAY 12 2017 65.0 Puts @ 0.02. Originally sold at 0.56


sold partial position at $34.78, bought 4/26 for $32.88. I expect a pullback after nearly 8% jump today. Gold is near 50 day MA, so I think a bounce is in order which will drive DUST lower. Keep tuned.


STO May 19, 130 put @1.95, joining the crowd and taking the hit for the team. I sure hope this works.

$VXX #ShortCalls – Bought to…

$VXX #ShortCalls – Bought to close 3 VXX May 26 2017 30.0 Calls @ 0.02. Originally sold @ 0.38

$SVXY #ShortPuts – Bought to…

$SVXY #ShortPuts – Bought to close 5 SVXY JUN 16 2017 30.0 Puts @ 0.04. Originally sold at 2.30

#SVXY #ShortPuts #ShortCalls – Margin…

#SVXY #ShortPuts #ShortCalls – Margin issues raising their ugly head again.
Bought to close 2 SVXY Jan 19 2018 125 Calls @ 41.90 – Originally sold at 9.00
Bought to close 10 SVXY Jan 18 2019 20.0 Puts @ 0.36 – Originally sold at 2.00
A net overall loss.
If the stock stays at 150 I’ll be forced out of more positions in the next day or two.

SVXY for the team

#TakeOneForTheTeam #ShortStrangles – Looks like we need another one of these so here goes….

Sold SVXY MAY 19 2017 160.0/155.0 Bull put spreads @ 3.07

Even with an implosion I’ll get the stock just a measly 1.93 below where it’s trading then…


# short puts

Closing WDC May 26 77.5 puts early. They are down to 0.19 and originally sold for 1.15. They would probably go out worthless in 25 days but I can use the margin to open new positions.

CMI earnings

#Earnings Sold $CMI May 5th 140/160 strangles for 1.00. Biggest UP move: 7.6%, Biggest DOWN move: -8.7%, Average move: 4.1%. These strikes are +5.3% and -7.9% OTM.

$VIX – Back down to…

$VIX – Down to 9.90 at the low …. so far. Bounce territory for sure.

VIX Crashes To 9-Handle For First Time In Over 10 Years
As Nasdaq melts up faster than Bitcoin, perceived equity market risk has utterly collapsed. VIX just traded with a 9-handle for the first time since Feb 2007…

DUST Dec calls

Starting small in December, and will wait for higher strikes for further sales.
Sold $DUST Dec 15 50 call @ 6.50


BTC May 12 $30 calls @ $0.02 (sold for $1.75)
BTC May 12 $40 calls @ $0.02 (sold for $1.24)


STO one contract of January 2018

205 call @10.30

210 call@9.55

215 call @8.60


Looks like it is headed higher now. BTC May 5 $960/$965 BeCS’s @ $0.65 (sold for $0.79). Should have closed on friday. I did expect it to firm up, but wasn’t expecting this big of a jump, just getting out of the way. All of the high volume bars are green so this thing could just keep going for a while.

STO $AMZN May 5 $910/$900 BuPS’s @ $0.48

SPX calls sold

#SPXcampaign Sold to Open $SPX June 2nd 2450/2475 call spreads for 1.40. Going for higher now (or you can go for the 2455 short).

CHTR earnings

#Earnings Sold $CHTR May 5th 325/370 strangles for 2.30 (each side sold separately for 1.15). Biggest UP move: 9.2%, Biggest DOWN move: -7.9%, Average move: 3.6%. My strikes are +7.2% and -5.8% OTM.

Econ calendar for week of 5/1/17

Be sure to click “HOME/Refresh” to keep features in the right-hand column updated.
JOBS report is this Friday, 5/5.
Screen Shot 2017-05-01 at 6.01.25 AM