$SPX 2415/2390 BECS Thank you Jeff
$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 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
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 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
#LongCallDiagonal – 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…