Thanks Bistro-ers


Closed out May with best month trading ever! Previous best month was way back in Oct. of 2013 or 2014, whenever there was that big vol spike. This month was also my most consistent, partly because of some of the vol and contango trades you showed me. 2.5 times my monthly salary, previous was 2 times monthly salary.

Unfortunately, most of that is in retirement accounts so can’t touch it for another 13.5 years but every little bit now will help then. Maybe get the jet instead of the single engine plane or have a ski house and a beach house, haha, unlikely on either but doesn’t hurt to dream.

one last trade

rolled 6/9 WDC 83 put to 7/14 put for credit of 0.96.

Following my own rule and rolled it when the premium dropped below 0.20. Sold for 1.85 about 3-4 weeks ago as part of the ladder.

Expiring tomorrow provided no big drop in TSO 80 and 80.5 puts that were sold at 0.99 and 1.05. Already have the next 4 weeks laddered so will deploy the margin somewhere else on Monday.

Earnings SPX Campaign and Short Puts

Following @jeffcp66
$AVGO STO 6/2 225/230 BUPS for 1.50
$SPX STO 6/30 2450/2475 BECS @ 1.50

$MOMO STO 6/16/35 put @ .80 Thank you @jdietz1954

Selling puts on SNI

Might qualify as a #FallingKnife type trade. Getting some more exposure in the media space.
Sold $SNI Dec 15 55 puts @ 1.22-1.25

VMW earnings

#Earnings #BrokenWingButterfly
This recently fired long from a daily squeeze, the chart looks bullish, and there is high open interest on the 97.5 calls. So I bought this broken-wing butterfly, which profits on any move up, no matter how high (although max profit is at 97.50). Downside max risk is purchase price of 1.90.

Bought to open $VMW June 2nd 92.5/97.5/100 call butterflys for 1.90.

Here is the trade and risk profile:

Screen Shot 2017-06-01 at 10.45.41 AM

SPX trades

Bought to close $SPX June 5th 2375/2350 put spreads for .20. Sold for 2.85 on May 23rd.

Sold to Open SPX June 30th 2475/2500 call spreads for 1.40, with SPX at 2422.

Upside Warning comes through again

#VIXIndicator Here we go with the second surge of this Upside Warning, and a day after my long call spread expired, of course. Once again I did not put enough conviction in it, since I failed to put a new long call spread on during yesterday’s lows. I will get the timing and expiration date right someday!