SPX chart and VIX Indicator have been updated
Daily Archives: Thursday, June 22, 2017
SPX Campaign Expiration and Trades
Yesterday’s Expiration
#spxcampaign
$SPX 6/21 2360/2385 BUPS
#spxcampaign
Closed Early
$SPX BTC 6/23 2475/2450 BECS @ .50 73% profit
#spxcampaign
$SPX STO 6/30 2390/2415 BUPS @ 3.20 Thank you @jeffcp66
$EXAS
#ShortPuts Popping in to catch the close. Been out mowing most of the day wanting to get it done before the current trpoical storm gets here. Had this on my list. Sold to open July 32 Puts @ 0.90.
COST calls
Sold $COST 7/21 165 calls @ 1.57, to bring in premium against the 160 puts I sold last week.
UVXY
In anticipation of the next split I’m selling the rest of this position. Order has been in for awhile but wasn’t getting filled so came down a nickel…throw ’em in the drawer and check in six months. Got 2.92 for the first batch…taking a little less here.
#IRA #VXXGame – Once we get another reverse split and a little more drop after that I’ll cover these. Looking for 50 percent of max…
Sold UVXY JAN 18 2019 5.0/15.0 Bear call spreads @ 1.92
BTC SPX 30 JUN 17…
BTC SPX 30 JUN 17 2480/2505 CALL @.25 sold it JUN 2 2017 for $2.25
COST
In my IRA, STO October 150 puts @ 3.15, cash covered.
VRX
#LongCallDiagonals – Trying to take my lessons learned from AMZN and GOOGL. This thing is coming out of a daily squeeze and maybe just getting started. Rolling front month out and up early…this picks up about 100 deltas on the overall position.
Rolled VRX JUL 21 2017 16.0 Calls out and up to AUG 18 2017 18.0 Calls @ .03 debit
Still long Jan 2019 10 calls and short Jan 2019 7.5/5.0 Bull put spreads…
SPX rolls sold
#SPXcampaign Sold to Open $SPX July 5th 2405/2380 put spreads for 2.10. This makes up for the debit in the #ITMroll made yesterday.
Sold to Open SPX July 14th 2470/2495 call spreads for 3.60. Second half of roll from call spread stopped for 6.40 on Monday.
REGN…now the bad
#ShortStrangles – What a move! I sure didn’t see a two month 200 point move in a 350 dollar stock coming. Had something like 350/450 strangles when this thing took off. Rolled the 450 out to Sep and started rolling the 350 up as she climbed. Wasn’t nearly aggressive enough and kept getting further behind. Finally bailed on the whole thing yesterday when I heard new health care proposal could be pretty friendly to drug companies.
Long story short…gave back all of my REGN profits for the year plus about another 25 points. Being hard headed, I’ll set that aside and look to get it back on next pullback. Grrr…hate getting thumped by one of my all time favorite tickers. I thought we were friends!
GOOGL identical to the AMZN trade
#LongCallDiagonals – Long term diagonal (Whiz style trade) is pretty much dead money now so booking it. With the near vertical rise in this thing the short term call got away from me. So far ITM now that profit is basically capped on the LEAP call. After rolling the LEAP call up a couple times to reduce risk, I’m closing the whole thing except the Jan 2019 500/400 BuPS which I’ll close if I ever need the buying power. Ideally we get a pullback to start all over again.
Bought to Close GOOGL DEC 15 2017 900.0 Call @ 110.65
Sold to Close GOOGL JAN 18 2019 850.0 Call @ 194.70
After roll ups of LEAP call basis was down to 31.00 and front month sales brought in another 13.9 points.
When it’s all said and done a net gain of 66.95. Worked pretty good but having that front month call in the way really hurt. Next time I’ll be more aggressive getting out of the way. Of course, who could’ve seen a 250 point six month run coming…wow!
AMZN
#LongCallDiagonals – Long term diagonal (Whiz style trade) is pretty much dead money now so booking it. With the near vertical rise in this thing the short term call got away from me. So far ITM now that profit is basically capped on the LEAP call. After rolling the LEAP call up a couple times to reduce risk, I’m closing the whole thing except the Jan 2019 500/400 BuPS which I’ll close if I ever need the buying power. Ideally we get a pullback to start all over again.
Bought to Close AMZN DEC 15 2017 865.0 Call @ 167.20
Sold to Close AMZN JAN 18 2019 850.0 Call @ 239.1
After roll ups of LEAP call basis was down to 30.75 and front month sales brought in another 38.7 points.
When it’s all said and done a net gain of 79.85. Worked pretty good but having that front month call in the way really hurt. Next time I’ll be more aggressive getting out of the way. Of course, who could’ve seen a 300 point six month run coming…wow!
SPX puts closed, puts sold
#SPXcampaign Closed on GTC order: $SPX June 23rd 2400/2375 put spreads for .20. Sold for 1.75 on June 9th.
Sold to Open July 20th 2340/2315 put spreads for 1.55
TSLA
#ShortStrangles – Making an adjustment but adding a little downside protection…
Started out as a Jan 2018 175/500 strangle @ 6.10 credit
Rolled 175 to 250 @ 7.40 credit
Today rolled 250 to a 300/200 bull put spread @ 6.27 credit.
Position now 300/200 BuPS against 500 call @ 19.77 credit.
Can this thing see 500 by Jan 2018? TOS says 85 percent chance it won’t get there and a 70 percent chance 300 won’t get hit so still slightly higher downside risk.
INGN
STO August 95 puts @4.70, this is a trade from DeBeers over on SMM
WYNN
#ShortStrangles – Replacing this week’s expiration…still selling against ITM calls.
Sold WYNN JUN 30 2017 135.0 Puts @ 1.35
#xle yesterday morning sto xle…
#xle
yesterday morning
sto xle 64.5 put @ .51 for 6.23.17
SPX ITM roll
#SPXcampaign Yesterday, Closed $SPX June 28th 2405/2430 call spreads for 20.25. Sold last week for 20.15.
#ITMroll Sold July 5th 2410/2435 call spreads for 18.25. Will choose an additional spread to day to make up for the 2.00 roll-debit.
Also yesterday, closed on GTC order: balance of June 23rd 2465/2490 call spreads for .20. Sold for 1.80 on June 16th.
GM –
Economic Data
8:30am EST Unemployment Claims – street sees 241K
9:00am EST HPI m/m – street sees 0.4%
10:00am EST FOMC Member Powell Speaks
10:00am EST CB Leading Index m/m – street sees 0.4%
10:30am EST Natural Gas Storage – street sees 55B
Earnings before Open
ACCENTURE PLC (CAN) – consensus 1.50
BARNES & NOBLE (BKS) – consensus -0.17
CARNIVAL CORP (CCL) – consensus 0.47
COMMERCIAL METL (CMC) – consensus 0.24
HAIN CELESTIAL (HAIN) – consensus 0.52
Earnings After Markets Close
BED BATH&BEYOND (BBBY) – consensus 0.66
SMART GLBL HLDG (SGH) – consensus 0.62
SONIC CORP (SONC) – consensus 0.41
SYNNEX CORP (SNX) – consensus 1.80
Options Bistro 