$AAPL – one of the…

$AAPL – one of the few stocks in the DOW, the SP500 and the NASDAQ100.
A lower market open tomorrow?

$SVXY #ShortPuts #AfterHours – Bought…

$SVXY #ShortPuts #AfterHours – Bought to close 1 SVXY May 05 2017 80.0 Put @ 0.01.
Sold on 03/24/17 @ 1.25

$SVXY #ShortPuts – Bought to…

$SVXY #ShortPuts – Bought to close 2 SVXY May 05 2017 81.0 Puts @ 0.01.
Sold in late March and early April at an average of 1.14


I bought a couple May 12 6 puts at .04 for margin relief on some higher puts. After the the reverse split, TDA has me with a 23,650% gain on them.

$RIG $NOV #FallingKnife candidates

$RIG $NOV $OXY #FallingKnife candidates

$UVXY #ShortCalls – Bought to…

$UVXY #ShortCalls – Bought to close 2 UVXY May 12 2017 27.5 Calls @ 0.01. They won’t trade any lower.
Sold at 1.33 and 1.57 on 4/3/17

GRPN earnings

#Earnings Trying the rare #LongStraddle trade for a stock that tends to move big on earnings:
Bought $GRPN March 5th 4.00 straddles for .60. Biggest UP move: 29.0%, Biggest DOWN move: -26.3%, Average move: 16.7%. Breakevens are +/-15% OTM.

Anyone playing $AAPL?

Tempted to sell a strangle but always careful that any earnings announcement could have some news that would blast the thing off. Valuation isn’t as good as it was a year ago, but still a reasonable PE (17) for a company projected to grow by 16% over the next 5 years. Sitting on my hands for now.

$SVXY #ShortPuts – Bought to…

$SVXY #ShortPuts – Bought to close 10 SVXY Jun 16 2017 39.0 Puts @ 0.05 (no commission).
Sold in late December for an average of 1.27.

#shortcallspreads CMG From TradeWise May…

#shortcallspreads CMG
From TradeWise May 19 500.502.5 for .70

earnings on TAP

#Earnings Sold to Open $TAP May 5th 92/95/98 #IronButterfly for 2.00. Max loss 1.00. Biggest UP move: 5.8%, Biggest DOWN move: -4.1%, Average move: 2.5%. Breakevens are +/-2.1% OTM at Friday expiration..

#SVXY #ShortPuts #ShortCalls – Margin…

#SVXY #ShortPuts #ShortCalls – Margin issues are still pressuring me.
Bought to close 2 SVXY Jan 19 2018 130.0 Calls @ 38.80 – Originally sold at 7.90
Bought to close 2 SVXY Jan 19 2018 135.0 Calls @ 35.70 – Originally sold at 7.10
Bought to close 6 SVXY Sep 15 2017 165.0 Calls @ 13.40 – Originally sold at 13.43 (breakeven)
Bought to close 22 SVXY Jun 16 2017 55.0 Puts @ 0.11 – Originally sold at 3.55
A net overall loss but not as bad as yesterday.
If the stock keeps hanging around 150 I’ll be forced out of more positions in the next day or two.

NUGT DUST combo platter

#ShortCalls – New NUGT options available today. Selling a combo since they both can’t lose…highest NUGT strike so far paired with whatever DUST strike brings equal premium.

Sold NUGT JUL 21 2017 45.0 Call @ 2.10
Sold DUST JUL 21 2017 50.0 Call @ 2.20

$DUST ShortPuts – Bought to…

$DUST ShortPuts – Bought to close DUST MAY 5 2017 27.0 Puts @ 0.05. They won’t trade any lower.
Sold on 4/12 at 3.70 as a #Rolldown trade. After a number of rolls, made a decent return overall.

Closing GILD

$GILD #ShortPuts With earnings tonight the strike very possibly could be safe (55 with the stock at 68.79), but this is a biotech and anything can happen so I’m taking this off for about 75% of the premium received.
Bought to close $GILD Aug 18 55 puts @ .34. Sold for 1.32-1.45 on Feb 8-9.

# experiment and more thoughts…

  1. experiment and more thoughts on efficiency of capital.

So a few weeks into the options income blueprint. One of the things they recommend is higher $ return on covered calls vs. selling puts. In looking at the numbers may be right in terms of absolute dollars. However on a percentage basis selling puts is higher.

Example, buy write on TSO right now with stock at 79.3, you could do 10 lot on next weeks 77 strike and the call you would make $980 and on the put only $810. So in absolute terms make $170 more on the buy write than the put write. Looking at most stockso this seems to be true, even more with names that are skewing to the upside and the calls are more expensive than the equal distant puts.

Now on a percentage basis, the put writing is better but on an absolute basis make more with the buy writes. Maybe better to write puts on margin and buy writes in retirement accounts.

I used to trade deep ITM covered calls 3 months out. Gave good protection 10-20% but found theta decay to be slower than paint drying. However, was successful.

Thoughts? Any of you doing ITM covered call on a weekly basis?


TLT adjustment

Possibly my favorite #PerpetualRollingStrangles

Rolled this week’s 123.5 puts out to May monthly 123.5 @ .38 credit.

Paired with many calls near the same strike out over the next few weeks.

GLD rolled

#PerpetualRollingStrangles – Another roll. They add up over time…

Rolled this week’s 120.5/113.0 inverted strangles to May monthly same strikes @ .55 credit.

Came close to getting out of the 120.5 puts but she reversed too soon…


#ShortStrangles – My only problem child…time for more aggressive punishment to force some cooperation.

Short a Jun 450 call and a May 470 put so:

Rolled May 470 put in and up to this week’s 490 @ 2.55 credit.

Total premium received on the 490 put is now up to 9.56. Plan is to keep selling at or slightly in the money puts every week until a reversal. Otherwise will have plenty of credit in the position for a debit roll of the call.


#PerpetualRollingStrangles – Replacing this week’s…

Sold EWW MAY 26 2017 51.5 Puts @ .75


BTC June 225 puts @.05, Sold @ 3.95 and I think I owe Fuzzball a hat tip for this one.

$VIX – What does a…

$VIX – What does a single digit VIX mean?

$CVS #ShortPuts – Bought to…

$CVS #ShortPuts – Bought to close CVS May 19 2017 70.0 Puts @ 0.01. They won’t trade any lower.
A former #FallingKnife trade. Sold in late January at an average of 1.23

People are panicking, the vix…

People are panicking, the vix is up .12 today!!!

SPX puts sold

#SPXcampaign Sold to Open $SPX June 2nd 2290/2265 put spreads for 1.40, with SPX at 2386.

SPX and SVXY trades yesterday

Bought to close $SPX May 18th 2210/2185 put spreads for .20. Sold for 1.35 on Apr 21st.
Expired: SPX May 1st 2380/2355 put spreads. Sold for 4.65 last Tuesday.

BTC SVXY May 19th 85 put for .15. Sold for 1.28 on Apr 21st.
BTC SVXY June 16th 75 put for .30. Sold for 3.40 on Feb 23rd.

$SVXY #ShortPuts – Bought to…

$SVXY #ShortPuts – Bought to close 1 SVXY May 19 2017 71.0 Put @ 0.01- Originally sold at 1.17 on 4/13.
The funny thing is, until I closed the position it had not traded at all since I sold it. It had an open interest of 1 contract.