#ContangoETF’s $NUGT hitting multi-week highs.
BTC NUGT Sep 15th 51 call for .15. Sold for 4.60 on May 17th.
STO NUGT Oct 45 call for 2.00.
Monthly Archives: August 2017
NUGT
Buy stock at $37.32, sell calls (partial coverage) Sept 15 $35 for $3.60. Maybe later this week will get more premium for remainder of calls to cover.
$FOSL #ShortPuts – Bought to…
$FOSL #ShortPuts – Bought to close 1 FOSL NOV 17 2017 9.0 Put @ 1.20.
Originally sold at 1.40 right before the stock tanked to 6.80.
Once it got that far ITM, I knew I should cover this put if given a chance.
I got that today when the stock rallied back close to the strike price.
I’ll revisit this one with lower strike puts at some future date.
$CVX #ShortPuts – Bought to…
$CVX #ShortPuts – Bought to close 1 CVX SEP 15 2017 90.0 Put @ 0.01
Originally sold on 04/17/2017 at 1.33
GLD
#PerpetualRollingStrangles – I’ve got a stop on this week’s 122’s at 75 percent of max profit. Selling aggressively for next week. As long as gold holds 1300 these should work…
Sold GLD SEP 8 2017 124.5 Puts @ 1.24
$SVXY #CoveredCalls – sold these…
$SVXY #CoveredCalls – sold these on the opening with the stock at 78.96
Sold SVXY SEP 1 2017 81 Calls @ 0.98
Sold SVXY SEP 1 2017 81.25 Calls @ 0.97
Sold SVXY SEP 1 2017 81.75 Calls @ 0.78
Sold SVXY SEP 1 2017 82.0 Calls @ 0.66
Sold SVXY SEP 1 2017 82.25 Calls @ 0.61
Sold SVXY SEP 1 2017 82.5 Calls @ 0.50
Sold SVXY SEP 1 2017 82.75 Calls @ 0.43
These all expire Friday
AAOI Oct
Sold $AAOI Oct 20 50 puts @ 2.40 with the stock at 60.76. Willing to go long the stock at a basis of 47.60.
#ShortPuts $SVXY Sold to open…
#ShortPuts $SVXY Sold to open October 60 Puts @ 2.70 when the stock was at 77.84. Muffed the price. I’m using this longer period than my usual 3 week time frame much like Iceman and others do to see if a 2 month rolling strategy will work for me.
XBI rolled this week 77…
XBI rolled this week 77 puts to 9/22 for 0.8 credit. Originally sold for 1.06.
Did not take my own advice on friday. Was about to close SWKS 101 puts that had decayed to .033 after several rolls and instead thought no I will let them close this week and avoid the commission. Gapped down 2 points this morning so after 7 weeks of recovering a 16 point drop still have to baby sit this one. Will roll it later in the week once the time value decays out.
SVXY #shortputs BTC Sept 28…
SVXY #shortputs
BTC Sept 28 $55 put for $1.10, sold for $3.18 10 days ago.
SPX calls sold
#SPXcampaign Sold to Open $SPX Sep 29th 2505/2530 call spreads for 1.65, with SPX at 2444.
SPX calls closed
#SPXcampaign Bought to close $SPX Aug 28th 2455 calls for .25. Sold in a #CondorRoll for 4.40 on Aug 21st.
UVXY
Roll Sept 08 $32.5 put to Dec 15 $50 call for $2.20 cr. I want to close my short UVXY on my timing and not wait to be put offsetting shares in 2 weeks. I believe the Dec call is safe from margin calls in forseeable future.
CMG
#LongCallDiagonals – After my email exchange with @DJ this weekend I’m bailing on this position for now. He lays out a very good case for more possible downside in this thing. With a small bounce at the open and some weakness now was able to leg out of the Leaps and the short calls for a 1.04 winner.
I’ll keep it on the watchlist and see when she firms up and then re-evaluate….
Thanks DJ for all the effort!
$UVXY
BTC Sep 15 $91 calls @ $.05, sold for $1.525 composite
BTC Sep 1 $55 calls @ $.05, sold 8/24 for .31
Continuing to lighten up into strength. Doing everything I can to guarantee the the market will scream higher vs. roll over and go lower like 99% of people think it is going to do. 🙂 🙂
Econ Calendar for week of 8/28/17
JOBS report on Friday. Markets CLOSED next Monday.
Good morning
Barron’s had a bearish article about the market and tesla as well.
Economic Data
8:30am EST Goods Trade Balance – street sees -64.5B
8:30am EST Prelim Wholesale Inventories m/m – street sees 0.3%
Earnings before Open
STANDEX INTL CO (SXI) – consensus 1.29
Earnings After Markets Close
AMER SOFTWARE A (AMSWA) – consensus 0.04
CATALENT INC (CTLT) – consensus 0.56
EXA CORP (EXA) – consensus -0.20
PAREXEL INTL CP (PRXL) – consensus 0.94
PERCEPTRON INC (PRCP) – consensus 0.05
PROSPECT CAP CP (PSEC) – consensus 0.20
Notable Earnings After the Close,…
Notable Earnings After the Close, Monday or Before the Open on Tuesday:
BBY, BMO, BNS, CTLT, HAIN, JILL, PRXL, PSEC, SFUN
Notable Earnings After the Close, Tuesday or Before the Open on Wednesday:
ADI, AVAV, BF.B, BNED, BOBE, CAL, CHS, DY, HRB, NCS, OLLI, VRA
Notable Earnings After the Close, Wednesday or Before the Open on Thursday:
BOX, CIEN, CPB, CTRP, DG, FIVE, GCO, KEYS, LE, SMTC, TD, WDAY
Notable Earnings After the Close, Thursday or Before the Open on Friday:
AMBA, COO, LULU, NTNX, PANW, TECD
Expirations
Full Profit
$NTES 287.50 call (covered)
$AAOI 60 put
$MOMO 50 call (covered – unfortunately) Held over earnings
Full Loss
$ULTA 245/250 BUCS
Assigned
$AAOI 70 put (Basis 65.55)
#spxcampaign Friday at close btc…
#expectedweeklymove spx
SPX Chart and VIX Indicator…
SPX Chart and VIX Indicator have been updated
$UVXY #ShortCalls – Bought to…
$UVXY #ShortCalls – Bought to close UVXY1(25 shares) SEP 15 2017 60.0 Calls @ 0.01.
Originally sold @ 6.75, and months later at 2.81
$SVXY #CoveredCalls – Sold these…
$SVXY #CoveredCalls – Sold these after the market closed with the stock right around 78.
Sold SVXY SEP 1 2017 81.75 Calls @ 0.68
Sold SVXY SEP 1 2017 82.25 Calls @ 0.54
Sold SVXY SEP 1 2017 82.5 Calls @ 0.45.
These replace some similar calls from this week
$SVXY #ShortPuts #IRA #RollDown -split…
$SVXY #ShortPuts #IRA #RollDown -split my remaining ITM short puts into two pieces to spread the risk on the opening this morning.
Bought to close SVXY AUG 25 2017 79.0 Puts @ 2.03 – took a nice gain on these
Sold SVXY Sep 1 2017 76.0 Puts @ 2.13
Sold SVXY Sep 8 2017 73.0 Puts @ 2.13
$FSLR #ShortPuts – Bought to…
$FSLR #ShortPuts – Bought to close FSLR SEP 15 2017 22.5 Puts @ 0.01. They won’t trade any lower
#OptionsExpiration #Weeklys #Aug25 – A…
#OptionsExpiration #Weeklys #Aug25 – A few positions other than volatility trades this week –
$ANF $AZO $CMG $HP $M $TRIP with a couple of profitable assignments.
Of course volatility trades dominated the action as almost all Puts and Calls expired worthless in $SVXY and all the calls in $UVXY expired.
— Expired —
AZO (Weekly) Aug 25 2017 610 Calls
DUST (Weekly) Aug 25 2017 25 Puts
CMG (Weekly) Aug 25 2017 290 Puts
CMG (Weekly) Aug 25 2017 292.5 Puts
CMG (Weekly) Aug 25 2017 295 Puts
HES (Weekly) Aug 25 2017 36.5 Puts
NUGT (Weekly) Aug 25 2017 36 Calls (Covered)
SVXY (Weekly) Aug 25 2017 45 Puts
SVXY (Weekly) Aug 25 2017 47.5 Puts
SVXY (Weekly) Aug 25 2017 50 Puts
SVXY (Weekly) Aug 25 2017 55 Puts
SVXY (Weekly) Aug 25 2017 61 Puts
SVXY (Weekly) Aug 25 2017 62 Puts
SVXY (Weekly) Aug 25 2017 65 Puts
SVXY (Weekly) Aug 25 2017 67.5 Puts
SVXY (Weekly) Aug 25 2017 68 Puts
SVXY (Weekly) Aug 25 2017 71 Puts
SVXY (Weekly) Aug 25 2017 81 Calls (Covered)
SVXY (Weekly) Aug 25 2017 81.5 Calls (Covered)
SVXY (Weekly) Aug 25 2017 82 Calls (Covered)
SVXY (Weekly) Aug 25 2017 82.5 Calls
SVXY (Weekly) Aug 25 2017 85 Calls
SVXY (Weekly) Aug 25 2017 85.5 Calls
SVXY (Weekly) Aug 25 2017 86 Calls
SVXY (Weekly) Aug 25 2017 87 Calls
SVXY (Weekly) Aug 25 2017 88 Calls
UAA (Weekly) Aug 25 2017 24 Calls (Covered)
UAA (Weekly) Aug 25 2017 25 Calls (Covered)
UVXY (Weekly) Aug 25 2017 46 Calls
UVXY (Weekly) Aug 25 2017 46.5 Calls
UVXY (Weekly) Aug 25 2017 47 Calls
UVXY (Weekly) Aug 25 2017 60 Calls
UVXY (Weekly) Aug 25 2017 68 Calls
UVXY (Weekly) Aug 25 2017 69 Calls
UVXY (Weekly) Aug 25 2017 70 Calls
UVXY (Weekly) Aug 25 2017 71 Calls
UVXY (Weekly) Aug 25 2017 72 Calls
UVXY (Weekly) Aug 25 2017 73 Calls
UVXY (Weekly) Aug 25 2017 74 Calls
UVXY (Weekly) Aug 25 2017 75 Calls
UVXY (Weekly) Aug 25 2017 76 Calls
UVXY (Weekly) Aug 25 2017 77 Calls
UVXY (Weekly) Aug 25 2017 91 Calls
UVXY 25/100 (Weekly) Aug 25 2017 12 Calls (Covered)
UVXY 25/100 (Weekly) Aug 25 2017 20 Calls
— Assignments —
ANF (Weekly) Aug 25 2017 11 Calls (Covered) – got this stock last week on assignment
DUST (Weekly) Aug 25 2017 33 Puts – going long with a cost basis below 29
M (Weekly) Aug 25 2017 21 Calls (Covered) – got this stock last week on assignment
TRIP (Weekly) Aug 25 2017 40 Calls (Covered) – finally out of part of a long
OptionsExpiration
SVXY $65 puts
UVXY $44 calls
UVXY $55 call
UVXY $58 call
UVXY $60 call
UVXY $82 call
JPM $91/$89 put spreads
#OptionExpiration for 8/25 $SVXY 75…
#OptionsExpiration for 8/25
$SVXY 75 Puts
#OptionsExpiration for 8/25 $SVXY Aug…
#OptionsExpiration for 8/25
$SVXY Aug 25 60 puts
$SVXY Aug 25 67.60 puts
$UVXY Aug 25 60 calls
$CMG Aug 25 295 puts
$CMG Aug 25 292.50 puts
Thanks to Iceman for the CMG ideas–some great 2-3 day decay trades.
No assignments this week.
Have a great weekend everyone.
Options Expiration 8/25/17
— Expiring w/Max profit —
ADSK 103 puts. Sold yesterday for 1.07
AVGO 245/240 put spreads. Sold yesterday for 1.20
See y’all Monday!
Expirations
SVXY, 50 puts,52.5 puts,55 puts,60 puts,62.5 puts, 65 puts
That is all for today. With everything that I covered, I am now in 44% cash. Everyone have a nice weekend
SVXY close
Bought to close $SVXY 8/25 78 puts @ .20. Sold for 7.67 as a rollout on 8/11. A hairy ride, but profit achieved on the rollout from 8/18 80 puts.
SPX extra spread
#SPXcampaign Sold to Open $SPX Sept 6th 2375/2400/2460/2485 #IronCondor for 6.65.
VXX rollers
#VXXgame
#LongPutDiagonals #CoveredPuts #Rolling
BTC $UVXY Sept 1st 30 puts for 1.44. Sold for 1.10 on Aug 18th.
Sold to Open Sept 8th 29 puts for 1.77.
#StrangleRoll
BTC $SVXY Sep 15th 77.5 put for 4.20. Sold for 3.70 on July 27th.
STO $SVXY Oct 20th 55/90 strangle for 4.64 (legged in)
#ironcondor AMZN Sold Oct. 20…
#ironcondor AMZN
Sold Oct. 20 895/900/995/1000 for 2.39 TT follow
$UVXY
BTC $UVXY Sep 1 $60 call @ $.05, sold for $1.68
SPX puts sold
#SPXcampaign Sold to Open $SPX Sep 22nd 2345/2320 put spreads for 1.40. I was waiting for a flush but got impatient. Of course, my trade signaled that the flush could begin.
Also, closed on GTC order: Sep 14th 2520/2545 call spreads for .20. Sold for 1.45 on Aug 14th.
SVXY
A few more positions being closed early
BTC Sep 15 $35 puts @ $.05, sold for $.70
BTC Sep 15 $30 puts @ $.05, sold for $.50
BTC Sep 15 $27.5 puts @ $.04, sold for $.80
$UVXY
Cleaning out some positions early at minimum prices.
BTC Sep 1 $91 calls @ $.02, sold for $.70
BTC Sep 1 $70 calls @ $.04, sold for $1.35
BTC Sep 8 $91 calls @ $.o2, sold for $.75
$SVXY Missed the morning pop…
$SVXY Missed the morning pop as I was out. Bought to close Aug 25th 80 Puts @ 3.00 with SVXY at 77.04. This was from a roll before I left on vacation setting a breakeven at 3.10+/-. Also Rolled Aug 25th 80 Put out and down to Sept 01st 77 strike for a 1.47 credit.
Thoughts on SVXY
From August 7 to August 18, we dropped almost 28% from the high. Another drop like that will take us down to the 55 level. All we need is a 3% to 5% correction in the market which we have not had for quite a while. I am not predicting that event but September and October can be bad months for the market. That is why I am covering many of my put options and raising cash. If we get a pull back I want to take advantage of it.
I have had a nice year so far and don’t want to give it back if we get a violent correction. After the expiration today I will be 42% in cash and after the September 15 expiration I will be 54% in cash. I will still have put exposure in December and January from 22.5 to 50 on the SVXY but I think I can live with those positions if assigned. In the mean time I will continue to take risk off the table. Sorry if this is wrong or boring.
Long Call Diagonals
I have added this to the “Hashtag Strategies” selection in the Menu at the top of the Bistro site.
AMZN
#LongCallDiagonals #IRA – Setting up another week…
Bought to Close AMZN AUG 25 2017 957.5 Call @ .16 (sold for 13.50)
Sold AMZN SEP 1 2017 955.0 Call @ 7.36
test
ULTA earnings closed
#Earnings Closed $ULTA Aug 25th 217.5/212.5 put spreads for 4.40. Sold in the #IronCondor yesterday for 2.20. Reduced loss by .60 per lot by closing early and avoiding exercise.
SVXY synthetic week 1 results….
SVXY synthetic week 1 results. I suspect @fuzzballl UVXY trades are a mirror image. Won’t know which one wins until Jan 2019.
Made $323 on 1 contract for return of 20.1%. Forgot to add some zeros on yesterdays comments. Unlikely that would work out as well every week but potential to double money every 4-6 weeks if it can stay in that range. Most it can blow up now is $1000 on the down side or $1475 any other way.
Rolled the SVXY this week 75 call to next week for 1.31 credit.
Cost basis now 14.75 down from initial position of 16.06. Commission makes that officially 14.79 cost basis.
This is what the graph looks like for next week with the roll.
Next week have bunch of options expiring and will scale this up a few contracts but will start synthetic at 75 instead of 70 or wherever ATM is.
If it starts to tank to the downside can always butterfly the puts or if I have a few more puts can back ratio it for a directional kick.
If we stay above 77 will roll next week up 1-2 points but trying to stay close to the money to maximize weekly credit and weekly decay although it does not give much room to run.
Closing put positions
I closed the following for small profits to free up capital:
ALB, December 105 put @2.90
NVDA, December 100 put @.50
RL January 50 puts @.08
XBI September 15, 75 puts @.67
CMG…again
#LongCallDiagonals #Revenge – Was in a strangle where the put side was DITM. Closed it back on Aug 10th as the stock continued tanking. The plan was to wait for something resembling a bottom along with a few good headlines coming out. Not sure if this is anywhere near the bottom but the news flow is beginning to sound more hopeful.
Starting a long term (lower risk) position to work my way back on this thing. It is a revenge trade so maybe not the smartest thing but gotta take a shot. Need about 1.50 to 2.00 bucks a week to get what I need assuming no increase in the stock…
Here we go:
Long term position @ 44.50 debit
Bought CMG JAN 18 2019 300.0 Call
Sold CMG JAN 18 2019 250.0/200.0 Bull Put Spread
———————————-
Front month sale (first of 73 …LOL)
Sold CMG SEP 1 2017 317.5 Call @ 2.30
DUST
STO Aug 25 $26 calls for 0.20, 1 day to expiration should be easy money. Stock at $25.55 at time of sale.
SVXY
Good morning. BTC September 15, 22.5 puts @.01, closed 3 week early.
PLCE covered calls
#CoveredCalls #LongStock
Sold to Open $PLCE Sep 15th 110 call for .95
Sold to Open $PLCE Oct 20th 115 call for 1.50
Assigned long stock at 108.00 cost basis.
SPX calls sold
#SPXcampaign Sold to Open $SPX Sep 22nd 2505/2530 call spreads for 1.60.
ULTA
#Earnings – Sold ULTA AUG 25 2017 217.5 Call @ 2.00
Pairing this up with the 220/235/250 iron fly @ 11.90
Reducing max loss down to a buck with breakeven on the new call sale up at 231.40. Still need a rally but very little damage if she doesn’t come back…
DUST closed
#ContangoETFs Closed on GTC order: $DUST Jan ’18 85 call for .35. Sold for 4.00 on April 26th.
@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.
Options Bistro 