ISRG roll

#CoveredCalls – This roll puts the position back in the green…

Rolled ISRG SEP 1 2017 900.0 Call to SEP 22 2017 902.5 Call @ .65 credit.

Planning 2 more rolls on it. Next one will be into first or second week of October just prior to earnings. Then the final roll will be into earnings for a nice credit. I’ll keep the strike well in the money for downside protection and gather up some premium and then ship it!

VXX update

#ModifiedVXXGame – Last week sold some 11/13 VXX call spreads for a buck. Sold them in a size where after the split they’ll be one tenth of a full position. Didn’t quite make it back to profitability so closed the long 13 calls on Friday and accepted the short assignment at a basis of 12.30

Then:

Sold VXX AUG 25 2017 12.0 Puts @ .13

I’ll be shorting the stock or selling aggressive call spreads to establish a short position after the split. Working towards a long term short position with protective calls to match up with a similar trade on UVXY.

SVXY

Just a few thoughts. Since the high on August 8, we have retreated a bit more than 20% from the high. It seems to me that if we ever got a real correction or panic in this market, we could see this ETF down in the 20 to 25 range. I am not predicting but looking over my shoulder.

AMZN

#LongCallDiagonals – Lots of overhead resistance. Rolling down this week for additional credit.

Rolled AMZN AUG 25 2017 975.0 Call to AUG 25 2017 957.5 Call @ 3.60 credit.

Total credit on this one now up to 13.50

Closing PYPL

Taking this off for 55% of the potential profit:
Bought to close $PYPL 9/15 55/62.50 strangles @ .60. Sold for 1.33 on 8/2.

UVXY

#VXXGame #IRA – Added a few. Set it and forget it. Check in again on next split…

Sold UVXY JAN 18 2019 5.0/15.0 Bear Call Spreads @ 4.75

#longputdiagonals

UVXY Call Spreads

Took advantage of some strength today to exit the last of my UVXY call spreads.

BTC Sep 1 $35/$36 Call Spreads for even
BTC Aug 25 $30/$35 Call Spreads for $400 loss, was only short a couple and loss was manageable.

I “hoped” that we’d see a nice rebound this morning and I’d be able to exit these for even better prices. I just don’t trust the market right now, don’t like that it just can’t rally. I put on the spreads as a defined risk way of playing the decay of $UVXY, and it worked just as expected limiting the impact on the account during a spike. What is different this time was the 2nd spike very close to the first one, and now it would appear that everyone is timid and the market is just not able to rally. Volatility is remaining somewhat elevated for a longer period of time causing these positions to be problematic. When these stay in the money and get near expiration, theta is really working against you and to roll as a vertical for a credit you have to make the spread incredibly wide, so I just cleared out of these.

#ira