#OptionsExpiration #Weeklys #May12 – Volatility…

#OptionsExpiration #Weeklys #May12 – Volatility is staying stubbornly low so plenty of expiring options this week. It is getting harder and riskier to replace $SVXY and $UVXY options with new positions.
Some more $DUST puts expired that had been sold for big premiums so that is good. Good results with $APA and $TRIP too. No assignments.

— Expirations —
APA (Weekly) May 12 2017 48.5 Puts

DUST (Weekly) May 12 2017 28 Puts

NUGT 25/100 (Weekly) May 12 2017 13.5 Calls (Covered)
NUGT 25/100 (Weekly) May 12 2017 14 Calls (Covered)

SVXY (Weekly) May 12 2017 65 Puts
SVXY (Weekly) May 12 2017 70 Puts
SVXY (Weekly) May 12 2017 75 Puts
SVXY (Weekly) May 12 2017 80 Puts
SVXY (Weekly) May 12 2017 85 Puts
SVXY (Weekly) May 12 2017 90 Puts

TRIP (Weekly) May 12 2017 50.5 Calls

UVXY (Weekly) May 12 2017 13 Calls (Covered)
UVXY (Weekly) May 12 2017 13.5 Calls (Covered)
UVXY (Weekly) May 12 2017 14 Calls (Covered)
UVXY (Weekly) May 12 2017 27.5 Calls
UVXY (Weekly) May 12 2017 30 Calls
UVXY (Weekly) May 12 2017 40 Calls
UVXY (Weekly) May 12 2017 42 Calls

$UVXY #ShortCalls – Bought to…

$UVXY #ShortCalls – Bought to close 2 UVXY May 26 2017 40.0 Calls @ 0.01. Sold on 4/13/17 @ 1.95.
Also Bought to close 2 UVXY May 26 2017 42.0 Calls @ 0.01. Sold on 4/21/17 @ 0.89.
They won’t trade any lower.

$SPX #SPXcampaign Filled after the…

$SPX #SPXcampaign
Filled after the close
Bought to close May 19th 2280/2300 BuPS @ 0.15 Originall sold for 0.85 on 4/28
#Optionsexpiration Only one
$SVXY #Short Puts
May 12th 140 Puts
Have a great weekend all.

#OptionsExpiration for May 12 $SVXY…

#OptionsExpiration for May 12
$SVXY 05/12/2017 75 puts
$SVXY 05/12/2017 80 puts
$SVXY 05/12/2017 90 puts

No assignments.

Have a great weekend.

Expiration Plus One Trade

#optionsexpiration
$SPX 2200/2225 BUPS
$SPX 2135/2195 BUPS
$SPX 2440/2415 BECS

$NVDA 115 put (call portion of strangle rolled out)
$SVXY 85 put

Assigned
$CMG 445 put (could not roll, YUCK)

#shortputs
$SVXY STO 6/16 110 puts @ 1.40 Thank you @hcgdavis

Enjoy the weekend. Thanks to everyone.

Options Expiration 5/12/17

#OptionsExpiration #Earnings #RiskReversal #IronCondors #CallButterfly #SPXcampaign

— Expiring w/Max Profit —
NVDA 95 put
SPX 2375/2350 put spreads

— Expiring w/loss —
JAZZ 155/157.5/160/162.5 iron condors, sold for 1.80, .70 loss
PCLN 1925/1950/1975, and 1975/2000/2025 call butterflys

— Expiring worthless —
SPX risk/reversal:  LONG 2410/2430 call spreads, SHORT 2355/2330 put spreads

 

Options Expiration

Only 1 position, all the rest were closed for pennies a week ago.

$SVXY $148 puts, sold yesterday

Have a great weekend everybody.

SPX calls sold

#SPXcampaign Need one more call spread to finish the week:
Sold to Open $SPX June 9th 2440/2465 call spreads for 1.40, right at the bell.

Expirations, only 5 today

SVXY 65 puts
SVXY 80 puts
SVXY85 puts
SVXY90 puts
SVXY 150 puts

A Roll, A closed Early and Risk Reversal Follower

Rolled to Keep Hope Train Running
$NVDA BTC 5/12 115 call STO 6/9 120 call @ 2.90 debit

Closed Early
$REGN BTC 5/12 430 put @ .50 Sold for 8.00 Thank you @fuzzballl and I babysat it thanks to you

#riskreversal
Following once more.
$SPX 5/26 BTO 2410/2430 BUCS and $SPX STO 5/26 2340/2365 @ .20 credit

PANW covered calls

#Earnings #CoveredCalls Earnings announced May 31st.
STO PANW May 26th 119 call for 1.35
STO PANW June 16th 130 call for 1.80

$UVXY #ShortCalls – Bought to…

$UVXY #ShortCalls – Bought to close 5 UVXY May 19 2017 30.0 Calls @ 0.01. They won’t trade any lower.
Sold on 3/21 thru 3/23/2017 at prices from 1.69 up t0 2.09. Avg price 1.89.

$GE – surprisingly add this…

$GE – surprisingly add this one to the #FallingKnife list

STO SVXY June 16 110…

STO SVXY June 16 110 put at 1.40. Small size, only 2 contracts as first foray into vol. products other than some trades on VXX years ago.

Thanks, JSD501, Fuzzball, and Jeff for the education and pointers on the vol. trades. Great premiums!

BTC 5/26 WDC 84.5 puts at 0.35, originally sold for 1.07.
BTC 6.2 WDC 83 puts at 0.45, origianally sold for 1.33

Closed these just to free up a little margin over the weekend in case there is any news.

Renew my Risk/Reversal subscription

#SPXcampaign I don’t give up easy. This is my fourth #RiskReversal in a row. Learned my lesson this week… since I have been selling a new one each Friday two weeks out, it means I have two R/R’s going at all times. On Monday’s and Tuesday’s record highs, could have sold this week’s and gotten a decent profit. Instead, I waited for a longer and higher rally that never came.

So today, the May 12th r/r expires, I’m sitting on a May 22nd r/r, and now I’ve added this one:

Bought to open $SPX May 26th 2410/2430 call spreads for 3.50
Sold to Open SPX May 26th 2365/2340 put spreads for 3.35.

Rough profit/loss on the strategy so far: ZERO. But the idea is to profit on a strong rally, which has not happened yet (or may not happen at all) during this Upside Warning.

#FallingKnife candidates today $BBBY $ESRX…

#FallingKnife candidates today
$BBBY $ESRX $FOSL $GILD $HP $JEC $M $SIG $VIAB

$NUGT – New strikes up…

$NUGT – New strikes up to 49.0 today on all weekly and monthly expirations except January.

SVXY experiment

#ShortCalls #VXXGame – Looks like my tiny stock position will go away today so will be needing some protection for a bunch of Jan 2018 short calls. Even though all the strikes are above even my most aggressive projections for SVXY, I’m trying a new style of “protection”.

Sold 3 SVXY JAN 19 2018 200.0/190.0 Bull put spreads @ 7.20

If she continues up towards my lowest SVXY projection, this makes nice cash prior to any short call strikes getting hit. If it tanks, no matter how low it goes, I’ll own the stock 2.80 below where it’s trading at the time.

Anything between 200 and 225 (my lowest call strike) everything is a max winner and 2018 will be off to a great start. Reasonable protection for cheap with very little downside risk. I like it!

EDIT… ” I’ll own the stock 2.80 below where it’s trading at the time”.

$NUGT #CoveredCalls – when the…

$NUGT #CoveredCalls – when the stock started the week at 29, I didn’t think I would have to roll these.
Bought to close NUGT May 12 2017 34.0 Calls/ Sold NUGT May 19 2017 35.0 Calls @ 0.64 Credit

NVDA reverse roll

You can scroll down a couple posts to my comment in Jeff’s “NVDA, partial roll” thread to see my reasoning for this. Basically, Dan pointed out in his free video last night the weekly squeeze in NVDA. TOS shows it just getting started and JC says these usually run 8-10 bars.

Because of all of this, and all the premium booked yesterday, I feel I can get a little directional and if it doesn’t work can get the stock at a very nice basis if required.

#ReverseRoll #ShortStrangles

Rolled Sep 120 and 130 calls to Jun 140 puts @ 1.50 debit avg per contract
Sold NVDA JUN 16 2017 150.0 Calls @ .80

More than made up that .70 debit with this:

Bought to Close NVDA MAY 19 2017 128.0 Put @ 2.45 (sold for 5.76)
Bought to Close NVDA MAY 19 2017 129.0 Put @ 3.15 (sold for 6.58)
Bought to Close NVDA MAY 19 2017 130.0 Put @ 3.45 (sold for 7.54)
Bought to Close NVDA MAY 19 2017 131.0 Put @ 4.05 (sold for 7.77)
Bought to Close NVDA MAY 19 2017 132.0 Put @ 4.75 (sold for 8.42)

So, what’s the big picture?

Stock moves up it’s all good. Stock tanks and I roll puts down and eventually own the stock 8 dollars below the put strike since total premium so far is about 8 dollars per contract. Hopefully can have this all wrapped up by next earnings where we can do it all again! 🙂 🙂

Economic Data

8:30am EST CPI m/m – street sees 0.3%
8:30am EST Core CPI m/m – street sees 0.2%
8:30am EST Core Retail Sales m/m – street sees 0.5%
8:30am EST Retail Sales m/m – street sees 0.6%
9:00am EST FOMC Member Evans Speaks
10:00am EST Prelim UoM Consumer Sentiment – street sees 97.0
10:00am EST Business Inventories m/m – street sees 0.1%
10:00am EST Prelim UoM Inflation Expectations
12:30pm EST FOMC Member Harker Speaks

Earnings before Open
ARCELOR MITTAL (MT) – consensus EPS 0.21
BOYD GROUP IF (BYD) – consensus EPS 0.77
PENNEY (JC) INC (JCP) – consensus EPS -0.22
RIOCAN REIT (REI) – consensus EPS 0.41
VALERITAS HLDGS (VLRX) – consensus EPS -4.95

Earnings After Markets Close
ACERUS PHARMS (TRLPF) – consensus EPS -0.01
SAVANNA EGY SVC (SVY) – consensus EPS -0.08