#ContangoETFs Closed on GTC order: $DUST Jan ’18 85 call for .35. Sold for 4.00 on April 26th.
Daily Archives: Thursday, August 24, 2017
@fibwizard
Anything I might need to add here? I like to stay clean and streamlined. Moved my CCI levels out to 190. When those get breached I start looking for a reversal. Jump in on the second candle of the reversal. No entries ever until CCI gets broken up or down. RSI as a guide to confirm extreme swings. Reversals near pivots are even better with 34ema as a guide also.
Still experimenting…
UVXY #shortcalls STO Aug 25…
UVXY #shortcalls
STO Aug 25 $44 calls for 0.16 and 0.07 what looks like easy money 1 day to expiration.
UVXY
STC part of strangle Aug 25 $32 put closed for $1.10, bought for $1.30, missed my chance earlier today to sell for over $2, too bad.
NUGT #shortcalls BTC Sept 15…
NUGT #shortcalls
BTC Sept 15 $35 call for $1.70, sold week ago for $1.95, risk off play.
ULTA
#Earnings – Rolling the dice on my winnings from ULTA last quarter…
Sold tomorrow’s 220/235/250 iron fly @ 11.90
$FOSL $SIG $DVN – taking…
$FOSL $SIG $DVN – taking a few short puts off at nice gains. Will reload on the next leg lower in the market.
Bought to close FOSL SEP 29 2017 7.5 Puts @ 0.30
Bought to close 1 SIG OCT 20 2017 40.0 Put @ 0.20
Bought to close 1 DVN OCT 20 2017 28.0 Put @ 0.51
Rolling AAOI
It looks like we won’t make it up to 65 so I’m rolling tomorrow’s (8/25) $AAOI 65 puts down and out to Sep 22 62 puts for 1.95 credit. New strike is at the money (stock at 62.27) and after the credits taken in, my cost basis if assigned would be 61.80.
SPX trades
#SPXcampaign Sold to Open $SPX Sep 8th 2475/2500 call spreads for 3.10. With the indecision I am now looking to sell spreads on either side, offsetting existing spreads to make new condors. Since I had puts but no calls existing for Sep 8th expiry, I sold these calls.
Earlier, closed on GTC order: Sep 6th 2300/2275 put spreads for .20. Sold in a #CondorRoll for 2.85 on Aug 10th.
$SVXY $UVXY
#VeryOddThings
As I write this $UVXY is up 5.5%, $SVXY is down 2.8% yet my short calls in $UVXY and short puts in $SVXY are both positive on the day. So even as the underlying’s are moving against me, premium is getting sucked out, not increasing like you would expect.
CHRW
BTC January 62.5 puts and 55 puts for a small net loss. Just continuing to free up more capital and reduce risk. The market does not feel right to me but I have often been wrong.
Earnings After Markets Close
AUTODESK INC (ADSK) – consensus -0.37
BROADCOM LTD (AVGO) – consensus 3.50
GAMESTOP CORP (GME) – consensus 0.16
MARVELL TECH GP (MRVL) – consensus 0.23
SPLUNK INC (SPLK) – consensus -0.45
ULTA BEAUTY INC (ULTA) – consensus 1.78
VEEVA SYSTEMS-A (VEEV) – consensus 0.15
VMWARE INC-A (VMW) – consensus 0.84
IBB
Taking some more risk off the table.
BTC January 200 puts @.50, sold @5.10
AMGN
BTC January 2018, 140 puts @ 1.58, sold @ 5.36
#Market Even though the market…
#Market
Even though the market is whippy today, the internals really don’t suggest a big drop.
Tick isn’t doing anything remarkable
ADD is positive
VOLSPD is basically flat
VOLQD is flat to positive
Obviously this could change, but looks OK right now.
MNK
BTC January 2018, 30 puts @1.50, sold @2.05
TRIP
BTC December 32 puts @ .55, sold @ 1.30, just taking more risk off the table. Also BTC January 2018, 30 puts @ .55, sold @ 1.35
TSO has been reborn as…
TSO has been reborn as ANDV. They bought western sands and for some reason changed the name. Premiums are not quite as good as when it was TSO but will watch how it trades for a few weeks. TSO was a great one for ladders.
Just FYI as I know some of you were trading TSO.
#Shortputs $AAOI Sold Sept 1st…
#Shortputs $AAOI Sold Sept 1st 60 Put @ 1.60 with the stock at 62.10.
SIG
BTC October 45 puts @.37 after it surfaced today. I was tired of looking at the loss on this one. I sold it at 1.05 so a small profit at last.
ULTA earnings
#Earnings Selling a condor at its average move and close to a 1:1 risk/reward. Took awhile to get filled. Only selling a 2-lot as I like to limit my max loss to $500-600 on earnings spread trades.
Sold to open $ULTA 212.5/217.5/252.5/257.5 iron condors for 2.20. Biggest UP move: 17.9%, Biggest DOWN move: -6.1%, Average move: 6.9%. This trade is -6.7% and +8.3% OTM.
STO 9/29 SVXY 50 put…
STO 9/29 SVXY 50 put at 1.00 in IRA.
More trades and expirations tomorrow and will update the VXX synthetic trade. Still hanging on to a lot of time value because the short call is ATM on SVXY. Was hoping to roll today but will wait until tomorrow.
See @fuzzballl comments below but I think we are on to something. If it closes same as right now tomorrow works out to 2.86% return in 1 week. Carried out 52 times a year that would be awesome, of course not every week will be a winner and there will be a lot of adjustments along the way but theoretically can double money every 6-8 months or so with very little risk. Debit was 16.06 and max risk to downside $1000 on 1 contact. Should be able to reduce cost basis $1-2 each week through call sales.
SVXY
#ShortCalls #VXXGame – Just for good measure since I’ve got some decent size short volatility trades going…come and get this Mr. Market!
Adding one strike higher than yesterday…
Sold SVXY DEC 15 2017 102.5 Call @ 2.00
VXX
#LongPutDiagonals #SyntheticShortStock – Adding a position on VXX similar to the UVXY position. I’ll let ’em race each other down and see what works the best.
—————
Synthetic short stock with disaster long calls (16.60 debit)
Sold VXX JAN 18 2019 50.0 Calls
Bought VXX JAN 18 2019 50.0 Puts
Long call for possible disasters capping potential losses:
Bought VXX JAN 18 2019 55.0 Calls
Buying the disaster calls pretty close to help with margin requirements if she spikes…
—————
Weekly put sale against synthetic short stock to really boost the profits on this trade:
Sold VXX SEP 1 2017 46.0 Puts @ .60
—————
So now what? Two extremes examined here….
VXX goes to 100 and stays there:
I lose my 16.60 debit and an additional 5 dollars to the upside capped by the disaster calls. But…selling premium at 60 cents a week until Jan 2019 brings in 43.80 points so still a net gain of 22 points for the whole ordeal. Margin requirements for now are 7 points per spread. Not a bad return even in worse case scenario.
VXX does what it usually does:
So VXX eases it’s way down to 10 again. Synthetic stock makes 40 points and weekly premium sales at just a measly 60 cents brings in another 44 points for a gain of 84 points minus the 17 debit (rounding) works out to a 67 point winner.
I expect this one to be easier to manage since the VXX drop isn’t as severe as the amount UVXY can tank. Might actually work out better in the long run due to the weekly premium sales…
#Shortputs Morning All. Back from…
#Shortputs Morning All. Back from a very enjoyable hiatus with my daughter through the western side of Florida. I was assigned #SVXY at 85 back on Aug 11th. I covered it this morning @ 1.15. I’m still wrapping my head around my Aug 25th 80 and 75 Puts.
$PETS
STC Sep 15 $35 call @ $4.00 (bought for $2.70 yesterday). Nice little kicker to my short puts. Likely could have held longer but that wasn’t my plan.
$UVXY
Nibbled when /ES firmed up. Small positions.
STO Sep 1 $50 calls @ $.52
STO Sep 1 $55 calls @ $.31
AVGO earnings
#Earnings Sold to Open $AVGO Aug 25th 245/240 put spreads for 1.20. Biggest UP move: 14.7%, Biggest DOWN move: -2.2%, Average move: 6.4%. This trade is -3.7% OTM.
I’m playing these two bullish even though NDX under pressure. Historical performances on ADSK and AVGO are very positive on earnings, and both of my trades are outside their 12-quarter/one-day negative max move.
UVXY #shortcalls STC Aug 25…
UVXY #shortcalls
STC Aug 25 $32 call for $1.50, sold Tuesday for $1.98, closing ATM options if profitable. I fear a continuation of the downtrend in the market.
SVXY #shortcalls STC Sept 15…
SVXY #shortcalls
STC Sept 15 $90 call for 0.30, bought Aug 21 for 0.18, small but steady in the right direction.
UVXY #shortcalls BTC Sept 15…
UVXY #shortcalls
BTC Sept 15 $35 calls for $2.65, sold Aug 10 for $10.65
ADSK earnings
#Earnings Sold to Open $ADSK Aug 25th 103 puts for 1.07. Biggest UP move: 14.7%, Biggest DOWN move: -6.4%, Average move: 5.0%. This trade is -7.1% OTM.
Options Bistro 