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Daily Archives: Thursday, June 8, 2017
NVDA and DAN
Last night’s free video…
http://stockmarketmentor.com/2017/06/nvidia-nvda-got-an-upgrade-today-and-the-price-got-marked-up-big-league-i-think-theres-still-a-lot-more-to-go-before-this-stock-peaks-june-08-2017/
Lots of crazy numbers being thrown around. Dan sure got this one right a few weeks ago when he said it would take out 150 pretty quickly. I think my new plan for my 170/150 inverted strangles will be to reverse roll the ITM calls out to a put position while they’re still reasonably rollable. A couple possibilities are:
Jan 2018 140 puts @ even
or
Jan 2018 150/110 Bull put spreads @ 1.50 credit
This will allow me some management room for the nearer term puts. Hopefully could close those soon and then let the 2018’s decay stress free while keeping a big bulk of the nice premium received so far.
YM Trades after 5pm
The UK event spooked the mkt at the 5pm open..gave me a chance to go long at the low of a 100 gap down..
Long at 21080, on the knee jerk reaction…
Exit at 21145 for a 65 point win
Long at 21128, off the S1 PP
exit at 21163, at the 34ma
35 pt win
a Nice headstart for friday..
Closed out /CL strangles
BTC Jul 41.5/53.5 strangle at .59, .60, .61 and .62. Market makers kept making me go up a penny each contract.
BTC Aug 39/57 strangles at 0.62.
Loss of $550 on 8 contracts. It would have eventually worked out, but I forgot I am on vacation next week, will have limited computer access and don’t want to babysit positions while kiteboarding at the beach.
Maybe try again when the next series comes out in 2 weeks or if we get some vol restart my /ES strangle ladders. They are easier to manage because of weeklies but each contract requires $6000 to support it.
Now have some margin to play with for trades tomorrow.
NVDA
Just saw this…interesting video on defending against an outlier move in something like NVDA.
https://www.tastytrade.com/tt/shows/bat-vs-bat/episodes/staying-mechanical-defending-nvda-06-08-2017
TAP #FallingKnife I just noticed…
TAP #FallingKnife
I just noticed that I got a fill on this trade.
Sold $TAP Jan 19 70 puts @ 1.30.
BTC $EWZ Jun 16 37.5…
BTC $EWZ Jun 16 37.5 calls @ 0.03, waiting to sell again for next week
Rolling ladder
Rolled TSO Jun 23 81 put to Jul 21 85 put for 1.2 credit. Sold for 1.04 originally
BTC EWZ 6/16/17 37.0 CALLS…
BTC EWZ 6/16/17 37.0 CALLS @.06
STO EWZ 6/16/17 35.5 CALLS @.39 .33 CREDIT, A week and a day to expiration, 1.5 points lower strike. We’ll see.
NVDA
#ShortStrangles Sometimes to stop the insanity you have to do something insane. Time will tell if this was it…LOL
Rolled Jun monthly 160 puts up to 170 @ 7.50 credit.
Current position now 170/150 inverted @ 25.24
That’s still over a 5 dollar winner if NVDA finishes in between the strikes next week. Even if it does I may do some rolling to try and keep more of the premium. Can we classify this in the #TakeOneForTheTeam category?
UVXY
BTC 1 contract, January 2019 60 calls @ 2.55, sold at 7.25
I will resell this ETF on a correction in the market if we ever get one.
Long Calls SPX Campaign and Short Sales and Phooey
#longcalls
$MTN BTO 7/21/190 calls @ 16.50
$MSFT 7/21 70 calls @ 3.15
#spxcampaign
$SPX STO 6/14 2475/2459 BECS @ 3.50 Thank you @jeffcp66 May the averages take a mid spring break
#shortputs
$MOMO STO 7/21 30/35 BUPS @ 1.00
$WRKS STO 7/21 55 puts @ 1.45 Thanks @jsd501 via DeBeers
#shortcalls Closed out after one roll Probably capitulation at the wrong time
$NVDA BTC 6/9 120 call @ 35.50 $22 loss per contract
EWZ
#LongCallDiagonals – Bunch of calls sold in various positions…closing one batch and re-selling.
Bought to Close EWZ JUN 16 2017 37.5 Calls @ .03 (sold for .56)
Sold EWZ JUL 21 2017 36.5 Calls @ .56
NVDA freight train
#Earnings #Rolling
Made these trades on today’s obvious bullish action:
BTC NVDA June 30th 150 call for 7.75. Sold for 3.00 on May 24th
STO NVDA June 16th 152.5 put for 2.65 (ATM)
STO NVDA July 21st 160 put for 10.50 (ITM)
STO NVDA Aug 18th 180 call for 4.40
Also still short the July 21st 150 call, which I hope to roll on a pullback but may get stuck further ITM.
ZION
STO October 40 puts @1.99
SJM earnings closed
#Earnings Bought to close $SJM June 16th 130 straddle for 3.00. Sold yesterday as the 120/130/140 #IronButterfly for 5.25. This leaves long lottery tickets at 120 and 140, but otherwise risk is off with 2.25 profit.
NVDA adjustment
#ShortStrangles – Still looks to be headed to 155 or higher so still rolling puts up. Overall position nicely profitable so waiting for a little more theta to get out. Don’t want the short calls to get away so staying aggressive into next week. Keeping long deltas until the stock tells me otherwise.
Rolled Jun monthly 155 puts up to 160 @ 3.62 credit.
Current position now 160/150 inverted @ 17.74
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY JUN 16 2017 100.0 Puts @ 0.30 with the stock at 155.79. Gift!
SPX puts closed
#SPXcampaign Bought to close $SPX June 9th 2390/2365 put spreads for .20. Sold for 2.25 on May 30th.
THO earnings closed
#Earnings Bought to close $THO June 16th 110 calls for .20. May close the 80 puts for .05 or allow to expire. Strangle sold for .97 on Monday.
NVDA got past 150
That didn’t take long. Now I got to roll a couple calls.
$JWN – Nordstrom no longer…
$JWN – Nordstrom no longer a #FallingKnife after today’s news.
Already short this #OptionLadder –
JWN JUL 21 2017 32.5 Puts
JWN OCT 20 2017 32.5 Puts
JWN JAN 19 2018 30.0 Puts
$VIX – the chart speaks for itself
Economic Data
8:30am EST Unemployment Claims – street sees 241K
10:30am EST Natural Gas Storage – street sees 99B
Earnings before Open
CANTEL MED CORP (CMD) – consensus EPS 0.51
FUELCELL ENERGY (FCEL) – consensus EPS -0.27
SMUCKER JM (SJM) – consensus EPS 1.73
VAIL RESORTS (MTN) – consensus EPS 4.99
Earnings After Markets Close
ARI NETWORK SVC (ARIS) – consensus EPS 0.03
ENZO BIOCHEM (ENZ) – consensus EPS -0.03
ORION ENERGY SY (OESX) – consensus EPS -0.16
PURE BIOSCIENCE (PURE) – consensus EPS -0.02
VERIFONE SYSTMS (PAY) – consensus EPS 0.23
XACTLY CORP (XTLY) – consensus EPS -0.16
Options Bistro 