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.
#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 $FOSL $GILD $HP $JEC $M $SIG $VIAB
$NUGT – New strikes up to 49.0 today on all weekly and monthly expirations except January.
#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 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
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.
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! 🙂 🙂
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
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.
========================================================================================
#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.
#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.
#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).
#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 18 20 puts @ 1.22
$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.
#ShortStrangles – I’m feeling like tomorrow’s 430.0 puts will be safe (sold for 6.30)
So:
Rolled Aug 410 calls to Sep 420 calls @ 3.25 debit…I’ll keep the other 3.05 as a profit. With these that far out in time it will cost about 3 dollars for evey 5 dollar roll up. I’ll try to keep collecting 5-6 per week to finance that and book some profit.
#LongCallDiagonals – Just started this trade yesterday and already needing adjusted. I’m seeing 18 and 19 price targets on it now so gotta get the short calls out of the way of the LEAP calls.
Rolled May 19th 13.5 calls out to July 21st 16’s @ .04 debit (still a net .18 credit on these)
This clears the decks for a run all the way to at least 20 before the short calls and long calls have equal deltas.
EDIT…. 24.60 is the delta neutral number…LOL If we get there the trade is over. Fuzzy will be long gone!
$AKAM $SIG #ShortPuts #FallingKnife – sold these today, among others
Sold AKAM Nov 17 2017 40.0 Puts @ 1.22
Sold SIG Oct 20 2017 45.0 Puts @ 1.25
#SP500 #NewLows #FallingKnife – $M $SIG $TSCO $BBBY $AN $GWW
In general, all these are in retail/wholesale sales.
The others that have been getting hit for a long time are $MAC $SPG $KIM – all REITS.
I’m staying away
NVDA is going up so much that I bailed on the 125/130 bear call sold for .76. STC it for 1.25. Bought the 120 Call for 6.05 db. STC for 7.15 cr. I should have stayed in it.
STO SVXY May 26 $113 puts @ $0.58
STO SVXY May 26 $120 puts @ $0.90
STO SVXY Jun 2 $100 puts @ $0.50
STO UVXY Jun 9 $26 calls @ $0.31
STO UVXY May 26 $19 calls @ $0.25
Rolling covered calls on this since 2/10. Just rolled again out to Jun 16. 87.50 calls.
Cost basis now down to 73.57 from original of 78.14 in Feb.
STO December 42 puts @1.16
rolled WDC puts next week 85 to June 16 for credit of 1.2. Sold for 0.8 last week.
Five stocks represent the market cap of 10% of the $28 trillion US equities market. AAPL, GOOGL, MSFT, AMZN, and FB have a total market cap of $2.8 trillion. 10% of the total. Yikes. Talk about technology taking over the market– and our lives. Think about it: we spend all day looking at FB on a product built by AAPL, bought on AMZN, searched for on GOOGL, and with MSFT … doing something in the background. Four of them have been especially strong, but FB has been down on 5 of the last 6 trading days. Not that that’s an omen or anything, but if you think that the market might head lower with any weakness in these five stocks, FB could lead the way down
TMUS has fairly decent premiums at the moment on weeklies. I am out of cash so can’t do any more trades today but FYI if anyone looking to sell something.
Giving it a little room on this #LongCallDiagonals …
Sold JPM MAY 26 2017 88.5 Calls @ .45
Morning folks, hope you’ve had a good trading week. Finally getting a small window of time to make a couple of trades.
STO May 19 $14 calls @ $0.55
STO May 26 $17.5 calls @ $0.33
Short term trades and still very small positions in case things continued to degrade. Market looks to be bouncing now, so make go ahead and look for a couple of more.
Will be on airplanes most of the day headed back home.
@Jeff, Portland (Wilsonville) has been beautiful. Great weather up until today. Stay dry.
I’m long a little stock @ 151.14 from a #TakeOneForTheTeamTrade …. since I’ve got another one of these for next week I wouldn’t mind unloading the stock so covering it for tomorrow. If nothing else, I’ll reduce the basis a little.
Sold SVXY MAY 12 2017 151.0 Call @ 1.30
#rolled TSO assorted calls 83 strike this week to May 26 83 calls at 0.88-.94 with avg. fill at 0.88. Originally sold for around 1.24 just before earnings. Decided to roll to catch the dividend next week then hope to be called away. After 9 weeks in the trade and multiple rolls if I am called out at 83 will have a nice profit. Assigned at 87.5 back then, cost basis now around 79.75 on assorted trades and the dividend will reduce that to 79.20.
Rolled TSO 77 puts this week to next week 80.5 for credit of 0.78. Originally sold last week for 1.05.
New market measures on laddering strangles https://www.tastytrade.com/tt/shows/market-measures
Still have WDC put ladders out 4 weeks, waiting for a little more theta decay through the weekend for some rolls.
Also have some EEM, DIA, SPY positions I am waiting to close to free up margin but they are longer term plays so still have 60-90 days on those.
VIX is almost up a whole point!!!! Yeah………
Raining here so if I see a good day trade will post but looks like the big moves are already settling down.
Collected more in premium on the above trades in 45 minutes than I get from a paycheck for 2 weeks and did the same last week. Most of it retirement so can’t touch it for 13.5 more years, but every bit now will help then!
I am now flat for expiration tomorrow.
Cheers Chris
$UVXY #ShortCalls – Sold Jun 23 2017 24.50 Calls @ 0.70 with the stock at 13.32. Highest available Strike.
#FallingKnife candidates today
$ALXN $AKAM $AMGN $BIIB $CHRW $ESRX $SIG $TSCO $UPS
$DUST #ShortCalls – Bought to Close DUST May 19 2017 45 Calls Limit @ 0.05.
High margin requirements.
Sold on 4/27/17 at 0.75.
#ShortStrangles – Rolled May 12th 850.0 put out to May 19th 850.0 @ 2.25 credit
Sold against June 855.0 call…once I feel this call is safe I’ll start rolling the put down and out. I’d like to be completely out of this position by next earnings.
Since earnings one ISRG strangle has brought in 20.65 in premium against 11k margin.
Bought to Close NVDA MAY 12 2017 118.0 Puts @ .35 (sold for 4.34 and 3.16 yesterday)
Sold NVDA MAY 19 2017 120.0 Put @ 2.27
Sold NVDA MAY 19 2017 121.0 Put @ 2.75
Sold NVDA MAY 19 2017 122.0 Put @ 3.29
Sold NVDA MAY 19 2017 123.0 Puts @ 3.87
Used a tiny portion of premium received to roll up and out a couple calls:
Rolled Jun 23rd 115 calls out and up to Jul 21st 120’s @ 2.16 debit
$TSCO #FallingKnife
Adding a ladder rung to my short Oct 55 puts.
Sold $TSCO Jan 19 50 puts @ 50 puts @ 1.15.
#SPXcampaign Running into some margin limitations today as I am weighted toward the short put side so wasn’t able to sell more put spreads on my portfolio margin account. So, I am closing a short-term put spread and selling a call spread as a #ReverseRoll. This clears me to sell a longer-term put spread to fulfill my campaign objectives. This is playing on the assumption we are hitting some lows this week for a bounce into monthly expiration next week.
Bought to close $SPX May 18th 2340/2315 put spreads for 1.20. Sold as part of an iron condor for 3.40 on Apr 25th.
#ReverseRoll Sold to Open SPX May 18th 2415/2440 call spreads for 1.30.
Sold to Open SPX June 9th 2290/2265 put spreads for 1.40.
#PerpetualRollingStrangles – Selling some and rolling some…
Sold TLT JUN 2 2017 121.5 Calls @ .53
Rolled May 19th 123.5 puts to Jun 9th 123.0 @ even
Stupid mistake. I was profitable on short May 19 27 puts, and I didn’t take them off before earnings. I just got pulled away to other things and didn’t get back to it before the market closed. So I’m rolling them to June (same strike) for .63 credit. Brings cost basis down to 25.67.
$DUST #shortcalls
BTC Dust Jun 16 $36C for 2.80, 2.75; sold 4/27 for $4.10
BTC June 70 puts @ .05, sold @ 1.20
8:30am EST PPI m/m – street sees 0.2%
8:30am EST Unemployment Claims – street sees 245K
8:30am EST Core PPI m/m – street sees 0.2%
10:30am EST Natural Gas Storage – street sees 52B
1:01pm EST 30-y Bond Auction
Earnings before Open
HIMAX TECH-ADR (HIMX) – consensus EPS 0.04
KOHLS CORP (KSS) – consensus EPS 0.27
MACYS INC (M) – consensus EPS 0.35
Earnings After Markets Close
BLUE BIRD CORP (BLBD) – consensus EPS 0.15
CHEROKEE INC (CHKE) – consensus EPS 0.14
LEARNING TREE (LTRE) – consensus EPS N/A
NORDSTROM INC (JWN) – consensus EPS 0.27
SPX Chart and VIX Indicator have been updated
This stuff writes itself. Bought some shares after hours, 100x at 17.64 and 100x at 17.25. Because… why not?
#spx campaign
btc after hours
may 12, 2420/2440 call spread @ .15 had sold for 3.10
thanks jeff
If this is all the correction we are going to get from the latest political event, I guess it is not going to amount to much. As much as I would like a correction, I just don’t see it yet.
STO December 27.5 puts @.80
#shortputs
$AKAM STO November 42.5 puts @1.66 Following @optioniceman and @jsd501
$NVDA STO 5/19 110/115 BUPS @ .63 Thank you @bcoleman6
STO November 42.5 puts @1.66
STO January 40 puts @1.40
Hat tip to Iceman for the idea.
#CoveredCalls #Earnings
BTC $FB May 12th 147 call for 4.00 (yesterday). Sold for 5.25 on 4/28 as a roll.
BTC $PANW May 19th 116 call for 1.60. Sold for 1.15 on 4/25
Both of these will be replaced with higher strikes the next time each stock rallies.
STO May 19 NVDA 115/110 .76 cr
BTC September 40 puts @.10, Sold @ 1.50, closing 4 months early and no commission.
STO June 16, 90 put @ .70
#shortcallspreads
NVDA inspired by the excellent discussion below-sold May 18 125/130 spreads for .86
STO June 16, 94 put @ .85
STO June 16, 95 put @ .90
$TSN #FallingKnife
Sold $TSN Jan 19 2018 47 puts @ 1.15
Heading out to start the move…another semester done. Have a great day everyone!!
#SPXcampaign Sold to Open $SPX June 9th 2450/2475 call spreads for 1.50, with SPX at 2398.
Any thoughts on this rocketship? Previous high on Feb 10 of 120.70. This baby looks to be trying to go in orbit today, but can’t see it continuing up this week after already up almost 16% today.
Currently in a BeCS 114/117 for May 12. I’m inclined to wait until at least tomorrow to see if this re-enters the atmosphere. Have been looking for ways to roll, but haven’t decided. Ditch it now, roll it, or wait until tomorrow or Friday? Any ideas @jeffcp66 or @fuzzballl as I know you’ve been in this one (not the same way as I am)?
#xle
btc may 26, /65.5 and 67 put @ .25 and .53 /sold for .85 and 1.07
btc may 19, 65 put @ .06 sold for .18
all on up swing of xle to release capitol and reload on down swing.
$SVXY #ShortPuts – Bought to close 5 SVXY May 19 2017 55 Puts @ 0.01. They won’t trade any lower. Originally sold 03/24/17 @ 0.55
$MU #Short Puts Sold June 16th 28 Puts @ 0.74 when $MU was at 29.00. Assignment would put my basis around the 50dma. This replaced the earlier closed position.
#FallingKnife candidates today – $AKAM $VIAB $MNK $SEE $FOSL $CHRW
$MU #Short Puts Bought to close May 19th 26 Put @ 0.4. Originally sold for 0.74.
$TRIP #ShortCalls #Earning – Bought to close TRIP May 19 2017 52.5 Calls @ 0.05. They won’t trade any lower.
#LongCallDiagonals – This is a low risk and possible high reward shot. Using the Whiz long call diagonal with protective put strategy. Low out of pocket cost and should recover all of it pretty early in the trade. Buying LEAP calls and selling narrow LEAP bull put spreads to reduce initial cost. Then, selling front month calls against the position similat to AMZN, GOOGL, and JPM trades I’m currently in.
Bought Jan 2019 10 calls and sold Jan 2019 7.5/5.0 bull put spreads @ 4.75 debit.
Still deciding when and where to sell the first batch of front month calls…
#earnings
Yelp yelp- sold a May 19, 28-40 stranglereally crashed last night, I was imagining selling covered calls for years, recovered by morning, out with a small loss. The extra week helped, YELP is hovering just under 28.
#LongCallDiagonals – In this trade similar to my AMZN and GOOGL trades. Long LEAP calls and selling front month against them. JPM perking up a little so getting out of the way for now. Don’t wanna get caught with front month ITM if she moves higher. Pretty happy already receiving over 5 points in front month premium in a few weeks during it’s little pullback.
Bought to Close JPM MAY 12 2017 87.5 Calls @ .25 (sold for .45)
#PerpetualRollingStrangles – Somehow got a partial fill on this right at the open…LOL
Bought to Close TLT MAY 12 2017 121.5 Calls @ .05 (sold for .75)
Looking to re-deploy out a couple weeks….
#Earnings #ShortStrangles – Had an existing inverted strangle along with an earnings strangle. Adjusting all of them…
Bought to Close NVDA MAY 12 2017 98.0 Puts @ .02 (sold for 1.96)
Bought to Close NVDA MAY 12 2017 113.0 Puts @ .97 (sold for 4.40)
And on the little opening dip:
Sold NVDA MAY 12 2017 118.0 Puts @ 4.34
Sold NVDA MAY 12 2017 118.0 Puts @ 3.16 (too slow on this one)
With these secondary “double dip” put sales I’m testing the John Carter theory that says a gap up beyond the expected move usually continues it’s run so sold the puts in the money for Friday.
Still holding short 108 and 112 calls that will be rolled out or out into new strangles later this week.
8:30am EST Import Prices m/m – street sees 0.2%
10:30am EST Crude Oil Inventories – street sees -2.0M
1:01pm EST 10-y Bond Auction
2:00pm EST Federal Budget Balance – street sees 175.0B
Earnings before Open
CTRIP.COM INTL (CTRP) – consensus EPS -0.05
DCP MIDSTREAM (DCP) – consensus EPS 0.27
DRYSHIPS INC (DRYS) – consensus EPS N/A
INTREXON CORP (XON) – consensus EPS -0.23
MANNKIND CORP (MNKD) – consensus EPS 0.12
SANDRIDGE ENRGY (SD) – consensus EPS 0.28
SNAP INC (SNAP) – consensus EPS -2.33
SYMANTEC CORP (SYMC) – consensus EPS 0.20
TWENTY-FIRST CF (FOX) – consensus EPS 0.48
WHOLE FOODS MKT (WFM) – consensus EPS 0.37
Earnings After Markets Close
ARRAY BIOPHARMA (ARRY) – consensus EPS -0.16
MYLAN NV (MYL) – consensus EPS 0.92
WOLVERINE WORLD (WWW) – consensus EPS 0.31
What Are Dan Sheridan’s Two Favorite Strategies for IRAs?
Presenter:Dan Sheridan
Wednesday, May 10, 2017 at 3:30 pm CDT
Here is link
http://go.cboe.com/e/77532/arncenter-webcast-default-aspx/61ndrj/270388095
#Earnings
$NVDA STO 5/12 95/115 strangle 2 1.95 Thank you @jeffcp66
$JAZZ STO 5/19 155/157.50/162.50/160 BUPS @ 2.40 Bought wrong date. See what happens. Thank you @jeffcp66
#spxcampaign
$SPX STO 6/9 2285/2310 BUPS @ 1.40 Following the leader
#shortputs
$SVXY STO 6/9 140 put @ 3.90 Thank you @jsd501
$MPLX STO 9/15 33 put @ 1.40 Thank you @tabortrader
#Closed Early
$SPX BTC 5/15 2440/2415 @1.40 38% profit Position too big. This is sale of half original
$NFLX STC 6/16 150 calls @8.56 BTO @ 6.40
$GS BTC 5/19 195/2015 BUPS @.05 for 91% profit
$NUGT #ShortPuts #PreSplit – Rolled some strike 8 Puts for this week out a bit
Bought to close NUGT May 12 2017 8.0 Puts/ Sold NUGT May 19 2017 8.0 Puts @ 0.12 Credit
and
Bought to close NUGT May 12 2017 8.0 Puts/ Sold NUGT Jun 2 2017 7.5 Puts @ 0.05 Credit
Options Bistro 