SVXY….how high can it go?

My crude but simple chart courtesy of freestockcharts.com shows a couple possibilities for SVXY by Jan 2018 expiration.

1. We stay below the long term very aggressive upper trend line (yellow) and don’t exceed 195
2. We make a similar run as the one from last July to this most recent all time high (orange lines) starting with the low point of this last dip. That would take us to the 223 area.

*** Light blue vertical is Jan 2018 expiry and light blue horizontals are max estimates based on the two scenarios.

I’m not a fib guy or any of the fancy stuff. This is just a rough outline based on it’s history. Unless the VIX goes to zero I can’t see it exceeding the long term yellow line but who knows…I’m keeping all my call sales in Jan above 225 figuring it will hold.

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SVXY estimate

NVDA, partial roll

#Earnings BTC $NVDA May 12th 115 calls for 13.40.
STO June 16th 120 puts for 2.45.
Looking for an 11.00 fill on the 120 calls for a June straddle, but price dropped into close. Will try to fill tomorrow.

TAP stock sold

#Earnings #LongStock Took a small loss on these to close the position and free up margin. Had a chance to get out with profit on Monday, but got greedy and thought I’d wait for higher prices. No dice.

Sold to close $TAP stock for 92.80. Assigned via 95 puts last Friday, cost basis 93.00, so .20 loss on the trade.

SPX calls sold

#SPXcampaign Selling an extra spread here as a hedge against a double-sized position in puts I have for the same expiration. This filled 5 seconds after the closing bell:

Sold to Open $SPX May 19th 2415/2440 call spreads for 2.00. These are PM settled, next Friday. They are no longer called SPXPM and appear on the chains with all other SPX weekly options. Please see the notice below from CBOE:

The Chicago Board Options Exchange, Inc. will be changing the symbol for existing SPXPM option series to option symbol SPXW. The conversion is planned for May 1, 2017. Any open Good ‘til Cancelled (GTC) orders in SPXPM will be cancelled by the Exchange after the close of business the evening prior to the conversion.
See Regulatory Circular RG17-054 for details (https://www.cboe.com/publish/RegCir/RG17-054.pdf).

IBB

#ShortStrangles – Filled earlier but missed it. Sold against a 295 put. We’ll see where that ends up next week before selling another call.

Bought to Close IBB MAY 19 2017 300.0 Call @ .40 (sold for 3.00)

$M #FallingKnife Sold $M Jan…

$M #FallingKnife
Sold $M Jan 18 20 puts @ 1.22

$NUGT #coveredcalls Playing it safe…

$NUGT #coveredcalls

Playing it safe BTO NUGT $33.05, STO May 12 $32.5 Call $1.05 for ROI 1.56% in day and half.