Filled on one contract so we can see which one works better.
SVXY STO Jan 19 60/70 put credit spread at 5.20.
BTO the Leaps CC 70 2019 and sold the next week 75 at 21.26 debit.
Race is on between this and UVXY, update weekly and see which one is better!
Good luck!
#VXXGame #ShortCalls
Sold to Open $UVXY Sep 15th 91 call for 1.85, and Dec 91 call for 8.00
DUST has options out to 2019 but NUGT only to next March. What’s up with that?
STO March 2018, 40 puts @4.10
STO January 2019, 40 puts @7.95
#ironcondor BABA
While trying to wrap my head around the UVXY synthetic LEAP trades…
sold Sept 15 145/155/180/190 for 2.00 modified from my fav TT trader Fauzia
#VXXGame #LongPutDiagonals #SyntheticShortStock
Bought one of @fuzzballl‘s $UVXY trades for 17.20
Bought Jan 2019 30 put for 19.16
Sold Jan 2019 30 call for 23.91
Bought Jan 2019 40 call for 21.95
I did a study a few years back on buying UVXY LEAP puts to profit on the eventual drop. It’s hard to make much because downside can’t go past zero. So assuming a few reverse splits, the max the long puts can earn is 29.99 (with UVXY trading for .01 in today’s prices). Fuzzy’s trade knocks a couple bucks off entry price than buying the put outright.
#SPXcampaign Sold to Open $SPX Sept 14th 2320/2295 put spreads for 1.60
Closed on GTC order: Sep 1st 2520/2545 call spreads for .20. Sold for 1.55 on Aug 4th.
#IRA – Adding a new position. Staying small since the only way to roll these for a credit if they end ITM is to widen or add contracts.
Sold UVXY DEC 15 2017 50.0/60.0 Bear Call Spreads @ 1.18
#Market
Looks like only support level today will be time based, the closing bell in 3 hours.
#ShortPuts #IRA – Adding a couple…
Sold SVXY DEC 15 2017 50.0 Put @ 4.40 (top of my ladder)
Sold SVXY JAN 19 2018 35.0 Put @ 2.45
Looks like this will finish in the money tomorrow so I’m rolling the 8/18 70 puts out to 9/29 and down 5 points to 65 puts for 1.37 credit. Stock currently at 65.55.
#LongPutDiagonals #SyntheticShortStock -Adding here. Could’ve moved up to 35’s but to keep things simple I’m staying with the same strikes for now. Waiting to sell any additional puts.
Synthetic short stock with disaster long calls (17.25 debit)
Sold UVXY JAN 18 2019 30.0 Calls
Bought UVXY JAN 18 2019 30.0 Puts
Long call for possible disasters capping potential losses:
Bought UVXY JAN 18 2019 40.0 Calls
Having trouble getting my TOS to copy or share at the moment but if you did a synthetic long with LEAPs CC on SVXY you could currently buy the 75 call and sell the 75 put Jan 19 Leaps for 2.55-2.6 debit. Each contract would require margin of $7500. You can then sell next weeks 78.75 call for 2.01. Then each week roll the call. In 2 weeks your cost basis is zero so any additional sales would be profit as long as svxy stays about where it is now. Any upside you make $ on both the call and the put.
In case of a big drop you probably would not get assigned until the majority of the time value is out of the short put or is way ITM.
If I can get my graph to share will post it. I am not doing this now, just an idea but will probably put on a few positions in 2 weeks when some other options expire.
STO SVXY 8/25 70 puts at 1.02-1.32. Managed to catch the spike.
Rolled WDC 8/18 85 CC to 9/1 for 1.44 credit. Brings cost basis to below 86, one more roll and will be profitable.
Rolled 8/18 WDC 84 CC to next week for 0.85 credit. Cost basis now 86.15, one more roll to profit.
That’s it for another week. Have bunch expiring in 1-2 weeks then will have some $ to start the SVXY/UVXY/XIV/VXX experiment with @fuzzballl with the synthetics and LEAPs trades.
#ShortCalls #VXXGame – Sticking to strict position size limits on my naked sales of these things. Booking pretty decent quick profits from the other day and re-selling higher strikes for safety.
Bought to Close UVXY SEP 15 2017 82.0 Call @ 1.07 (sold for 3.40)
Bought to Close UVXY DEC 15 2017 82.0 Call @ 6.15 (sold for 9.60)
Sold UVXY DEC 15 2017 91.0 Call @ 6.00
Sold UVXY JAN 19 2018 91.0 Call @ 7.20
STO Aug 25 $44 calls @ $ 1.00
#SPXcampaign This is a roll from spread closed this morning:
Sold $SPX Sept 15h 2500/2525 call spreads for 3.45.
#shortputs HTZ
Sold Sept. 15 17.50 put for .85, stock is at 19
$UVXY #ShortCalls – with the stock at 35.41
These expire tomorrow with the strikes above last week’s peak on the stock.
Sold UVXY Aug 18 2017 47.0 Calls @ 0.26
Sold UVXY Aug 18 2017 47.5 Calls @ 0.27
$UVXY #ShortCalls #TopOfTheChain – Sold my first 91 Calls this morning with the stock at 35.15
Sold UVXY Sep 8 2017 91.0 Calls @ 0.72
Sold 1 UVXY Sep 15 2017 91.0 Call @ 1.11
Sold 1 UVXY Sep 29 2017 91.0 Call @ 2.21
STO September 29, 45 puts @1.05
NUGT #shortcallspreads
Add to position selling Sep 15 35/40 call for 1.15, same rational going back 2 months since NUGT at 35. As gold goes so goes the miners. Let’s hope an incident doesn’t occur in next month which would likely spike gold, even momentarily.
#SPXcampaign Bought to close $SPX Aug 17th (monthly) 2465 calls for 3.30. Sold as 2465/2490 call spread for 3.85 last Friday.
I was tracking this one for optimal exit. On the spike down I went to adjust my ask lower, but it filled at 3.30 before I could. Happy to be out with small profit since this was trading above 12.00 yesterday.
STO March 2018, 91 call @ 7.40 on 1 contract.
NUGT #shortcallspreads
Sell BeCS Sep 15 36/41 for 0.95, price is nearing upper Bollinger Band – 32.90 now and if upper band is resistance tops out at 34.20 well below short call.
STO January 91 call @ 5.85 on 1 contract
I’ve been short a $27/$32 call spread expiring tomorrow. Ended up getting assigned on the short calls last night. At the spike higher at the open, closed out my $32 calls for a nice price. Now just watching the chart to pick a good time to exit the short stock. Market is strengthening and $UVXY starting up drop. Would really like to see it get below $31 this morning.
#ContangoETFs Sold $NUGT Dec 51 call for 2.20.
Recent discovery and follow-up to cover calls versus rolling puts.
With the rebound WDC I am back to break even after 3 weeks after a 17 point drop. However the covered calls have recovered quicker than the put rolls. Bottom line is that is probably more efficient to accept shares and convert to covered calls instead of continuing to roll the puts. It will still take me another 3-4 weeks to break even on the put rolls which is money that remains tied up. The CC will close next week giving me money to trade with again.
Sometimes better to sell an ITM covered call instead of a put on the weeklys especially on stocks that have an upside bias. Looking at a trade on SVXY the other day at the 76 strike, the covered call would have made $1290 on 10 contracts and the put only $1100 on the same number of contacts. The extra money would more than offset the exercise and assignments fees and just as easy to roll the calls. Plus rolling the calls usually gives you more capital gains as well.
$UVXY #Strangle – I HAVE NOT put this on yet but it’s a decent trade.
Short the Sep 8 2017 25/55 Strangle for more than 2.00 with the stock at about 30.50.
Only 3 more weeks to expiration with the Labor Day holiday thrown in to accelerate decay.
$DUST #ShortPuts Sold DUST (Weekly) Aug 25 2017 25 Puts @ 0.60 in an account with long NUGT stock. Hoping to force NUGT up or collect more premium dollars while I wait for that to happen.
#Earnings #BrokenWingButterfly
Slightly different… Sold $WMT Aug 18th 78.5/81.5/84 broken-wing butterfly for 2.00. Max loss downside is 1.00, max loss upside is .50. With stock at 81.00, can sustain a -1.9% move down and a +3.5% move up and remain profitable. Leans bullish with decent retail reports today from TGT and URBN.
Biggest UP move: 9.6%, Biggest DOWN move: -4.4%, Average move: 3.6%.
$NUGT #CoveredCalls – Sold NUGT Aug 25 2017 36.0 Calls @ 0.37 with the stock at 32.50
$XOM #ShortPuts #FallingKnife – Sold XOM Jan 19 2018 70.0 Puts @ 1.11 with the stock at 77.39
$UVXY #ShortPuts – Sold UVXY Sep 8 2017 25.0 Puts @ 0.93 with the stock at 30.65
I know, I know …Not my usual trade but I’m short a sh*t load of UVXY Calls
edit: added the strike price
$LB #CoveredCalls #OptionLadder – with the stock at 39.87
Sold LB Nov 17 2017 47.5 Calls @ 0.85
Sold LB Jan 19 2018 50.0 Calls @ 0.90
Busy week away from the market again but still adding an experimental position on UVXY. Low risk high reward playing it’s long term downtrend. Reverse Whiz style.
#LongPutDiagonals #SyntheticShortStock – I’ll be adding a similar position on VXX after the split next week. I’ll let ’em race each other down and see what works the best.
BTW…TDA portfolio margin for this trade is only 2600 increasing to 4000 if UVXY doubles overnight…
——————–
Synthetic short stock with disaster long calls (17.75 debit)
Sold UVXY JAN 18 2019 30.0 Calls
Bought UVXY JAN 18 2019 30.0 Puts
Long call for possible disasters capping potential losses:
Bought UVXY JAN 18 2019 40.0 Calls
——————–
Weekly put sale against synthetic short stock to really boost the profits on this trade:
Sold UVXY AUG 25 2017 29.0 Puts @ 1.25
——————–
The plan:
Sell weekly for the next 74 weeks and let the thing decay. Hopefully capture 10 dollars of the move from 30 to 10.
Once I get a little profit under it I’ll reduce the size or possibly eliminate the disaster calls so I’m only treating those as a temporary expense. Once I remove the disaster calls and get some of that debit back I don’t see how this thing can’t make any less than 100 points per spread with very little stress and risk.
Gold, NUGT soaring
If you are a tt follower or, maybe an account holder, you should sign up for this news letter published monthly. http://tinyurl.com/yap4g7gy
I notice VIX-X moved 5% today while UVXY and SVXY have moved less than 1%. Are we likely to see a stronger move when these ETFs do move? Or are they signaling a likely reversal of VIX-X? Anyone else analyzing these securities?
#Rolling
Aug18//Sep15 $TRTN 35 puts @ 1.30 credit in TOS IRA acct. Share at 34.54
#ShortPuts
STO $TRTN Sep 15 35 puts @ 2.12 to replace same expiring Friday, or assigned in IRA Dividend account, 5.25% yield, .45 qtr div. Shares at 34.57
#Earnings Sold to Open $NVDA Sept 15th 160 put for 4.00. This will put me back into profit after trading this one since busted earnings in April.
#Rolling #ShortPuts
$AAOI Rolling Aug 18/Aug 25 70 put for 1.00 credit. Opened on Aug 15 for 1.90 credit, less 1.00 today CB 67.10 plus commissions. Planning on weekly rolls…
#shortputs
$UNIT STO 9/15 20 put for 1.55
#SPXcampaign Sold to Open $SPX Sep 14th 2515/2540 call spreads for 2.40. A little higher delta than I usually sell for my standard campaign, but I already sold the 2520 short, and the 2525 short was not lucrative enough.
Also, closed on GTC order in pre-market: SPX Aug 17th 2395/2370 put spreads for .20. Sold for 1.35 on July 20th.
#spxcampaign
$SPX STO 9/15 2325/2350 BUPS @ 1.45
#shortputs
$SVXY STO 8/18 81 put @ 2.20 Thank you @optioniceman
Rolled
$INGN 8/18 95 put to 9/15 95 put for extra 1.00
Closed Early
$AMZN BTC 8/18 1075/1050 BECS @98% profit
Assigned
$SWIR 8/18 30 puts
STO January 2018, 275 put @10.10 on 1 contract.
#Earnings BTC $JD Aug 18th 42 puts for .05. Sold last Friday for .62 (avg price)
From #ZeroHedge
For the 5th time this year, VIX spiked and was instantly crushed in the last week…
Fears of global thermonuclear war appear to have been rapidly dismissed…
Today’s market rebound as the perfect example for why the VIX gets slammed off its spikes so frequently.
We all want to live!!
#shortstraddle JD
Sold Sept. 15 23 straddle for 3.20
$UVXY #ShortCalls – after all the fireworks for two days, I’m bored already.
Sold UVXY Aug 18 2017 46.0 Calls @ 0.24
Sold UVXY Aug 18 2017 46.5 Calls @ 0.25 with the stock at 32.32.
The strikes are above last week’s peak on the stock.
STO February 2018, 24 puts @.57
#PinAction – the bad news in $AAP is also hitting $AZO $GPC
$APA #ShortPuts #FallingKnife – Sold APA Jan 19 2018 35.0 Puts @ 1.33 with the stock at 41.10
#NYCPicnic – For those that are no longer members of SMM or OMM and did not see Gary’s message yesterday, the SMM/OMMPicnic will be SATURDAY, OCTOBER 7, 2017.
Hopefully it will be a nice early fall day in Central Park.
I’m planning on being there and I hope others can arrange to travel to the #BigApple.
I’m sure that ALL will be welcomed, even if you’ve given up your membership. There will be no checking of your “papers” at the door.
#ShortPuts
OIH STO Sep 15 22 puts @ .68, shares at 22.15.
XOP STO Sep 15 29 puts @ .75, shares at 29.75.
Both “tt 22 put at .50, 29 put at .64”
#ShortStrangles – Caught an upgrade this morning. These analysts can be annoying sometimes.
Rolled WYNN AUG 18 2017 128.0 Puts to WYNN AUG 18 2017 133.0 Puts @ 1.00 credit
#LongCallDiagonals – Small roll until this thing proves it can get through the 50ma…
Rolled AMZN AUG 18 2017 970.0 Call to AUG 25 2017 975.0 Call @ 1.00 credit
32.80 in front month premium received in just 17 days. Trade could run as much as another 96 weeks to June 2019…
#ironcondor AMZN
Sold Sept. 15 920/925/1040/1045 for 1.35-followed a TT trade
STO Aug 18 70 puts @ 1.90 share price at 69.79
#SPXcampaign Sold to Open $SPX Sept 14th 2350/2325 put spreads for 1.50, with SPX at 2462.
STO March 2018, 45 puts @4.10
$SVXY #ShortCalls – added a few short calls as the stock opens above 82
Sold 1 SVXY Aug 18 2017 83.5 Call @ 1.63
Sold 1 SVXY Aug 18 2017 84.0 Call @ 1.28
Sold 1 SVXY Aug 18 2017 84.5 Call @ 1.07
Sold 1 SVXY Aug 25 2017 87.0 Call @ 1.03
Sold 1 SVXY Aug 25 2017 88.0 Call @ 1.03
Sold 1 SVXY Sep 1 2017 90.0 Call @ 1.07
$SVXY #LongStock – at 8:00 am, sold another bunch of SVXY @ 82.22 on a 82 limit order.
This was the lot of stock that got put to me at 80.50 Friday.
I’ve cut back on further covered call orders because I’ve covered up all my remaining long stock.
I may sell a few out of the money calls as speculation because I know the biggest risk (potential loss) for me is still a downside move in the stock below 81.
for all of you learning short option trading, I’ve found a simply written book solely on selling single, spread and covered call options. It’s written in plain language, sans algos, with “click-by-click” directions on entering a trade, wow! The focus is on not owning shares, unless assigned, selling Delta 12, 6 weeks out, monthly/weekly, stock or ETF short puts, call/put credit spreads or covered calls for .30 to .50 cents. The is a Kindle book for 9.99…get the app free, buy the Kindle edition. Look for: Earn 5 to 10% Monthly Selling Options: Specific Step-By-Step Wealth Building System. Duvall, Boyce. Blocker Publishing. Kindle Edition.
For those more seasoned here are sone tidbits: their top stocks traded are: PCLN AAPL GOOGL CMG AMZN AFSI BOFI FB BAC ISRG Other stocks traded are:
VIPS SUNE REGN AZO ICE BLK NKE COST SBUX NFLX AGO HIG
Best ETFs traded: SPY—S&P 500 Index QQQ—Nasdaq 100 Trust Series RUT—Russell 2000 Index IWH—Russell 2000 Index Trust FAS—Direxion Financial Bull TNA—Direxion Small Cap Bull UWM—ProShares Ultra Russell 2000 DIA—Dow Jones Industrial Index—ERX—D Energy Bull SSO—ProShares Ultra S&P 500 Other ETFs we trade: XLE—Energy Select Index EEM—MSCI Emerging Market Index QLD—Pro Shares Ultra QQQ XLF—Financial Select Sector SPDR Fund USO—US Oil Fund EWZ—iShares Brazil Index EWA—iShares Australia OIH—Holders Oil Service FXI—China Index UNG—United States Natural Gas Fund GLD—SPDR Gold Shares SLV—iShares Silver Trust QLD—ProShares Ultra NASDAQ UPRO—ProShares S&P 500 TZA—Direxion Russell 2000 FAZ—Direxion Financials Bear BBH—Biotech
Trade safely…
$SVXY #LongStock – You can’t let a big stock position run 10 points without taking some of it off.
In the after hours, sold a bunch of SVXY @ 81.00.
This was the lot of stock that got put to me at 80.75 Friday.
Let’s see what tomorrow brings.
$SVXY #CoveredCalls – Missed the last 45 minutes of the market, but I did have orders already in.
Adding to earlier positions at better premiums.
— This week —
Sold 1 SVXY Aug 18 2017 81.0 Call @ 1.85
Sold 1 SVXY Aug 18 2017 81.5 Call @ 1.65
Sold 1 SVXY Aug 18 2017 81.5 Call @ 1.97
Sold 1 SVXY Aug 18 2017 82.0 Call @ 1.35
Sold 1 SVXY Aug 18 2017 82.5 Call @ 1.16
Sold SVXY Aug 18 2017 83.0 Calls @ 0.96
Sold 1 SVXY Aug 18 2017 83.0 Call @ 1.16
Sold SVXY Aug 18 2017 83.5 Calls @ 0.92
Sold SVXY Aug 18 2017 84.0 Calls @ 0.76
Sold SVXY Aug 18 2017 84.5 Calls @ 0.64
— Next Week —
Sold 1 SVXY Aug 25 2017 85.0 Call @ 1.44
Sold 1 SVXY Aug 25 2017 85.5 Call @ 1.20
Sold 1 SVXY Aug 25 2017 86.0 Call @ 1.03
Got pretty heavy in this the end of last week and I promised myself I would thin a bit on a retreat in volatility. Peeling a few off just for position size management.
Bought to close:
$UVXY 8/25 82 call @ .15 Sold for 2.20 on 8/11
$UVXY 8/25 60 call @ .39 Sold for 1.80 on 8/10
$UVXY 9/1 82 call @ .37 Sold for 3.10 on 8/11
Will look for more opportunities if things remain calm.
#spxcampaign
$SPX STO 8/25 2500/2475 @ 7.60
$SPX STO 9/15 2545/2520 @ 1.60
#shortcalls
$SVXY STO 8/18 82.50 call @ 1.26 (Covered) Thank you @optioniceman
Closed Early Half of Position
$COST BTC 8/18 150/155 @ 81% profit (Patience worked this time)
$SVXY #CoveredCalls – Adding to my positions in both these.
Sold SVXY Aug 18 2017 82.5 Calls @ 1.05 with the stock at 79.85.
Sold SVXY Aug 18 2017 83.0 Calls @ 0.83 with the stock at 79.75.
NUGT #shortcalls
BTC Aug 18 $35 call for 0.19, sold Thursday for 0.50. Time to lighten short gold as calm resumes, for now. I’m now ready (high cash) for the next move.
STO Sep 8 $91 calls @ $.51, small position just to get something on the books for this expiration, didn’t have anything.
BTFD strikes again. Or in our case SOTFD (sell options on the FD). Wish I had not been so busy this morning. Would have sold SVXY puts and some SPY/ES puts this morning at the open but was too busy.
Oh well, will close out positions in next 1-3 weeks then reload. Hopefully people keep buying SPX puts to keep the VIX up.
Options Bistro 