$UVXY – My plan going forward until VIX futures go back into contango.
I will continue selling UVXY Calls but only the pre-split contracts at the top of the chain.
There are a few available, both shorter term and longer term. The only exception will be calls expiring tomorrow.
UVXY Aug 11 2017 63.0 Calls – sold some today @ 0.23.
UVXY 25/100 Aug 25 2017 20.0 Calls – Stock price breakeven at 80.0
UVXY 25/100 Sep 15 2017 60.0 Calls – Stock price breakeven at 240
UVXY 25/100 Dec 15 2017 37.0 Calls – Stock price breakeven at 148 – Sold today at 2.01
UVXY 25/100 Jan 19 2018 60.0 Calls – Stock price breakeven at 240 – Sold today at 1.71
UVXY 25/100 Jan 18 2019 60.0 Calls – Stock price breakeven at 240 – Sold today at 3.55
Monthly Archives: August 2017
SPX wild ride
#SPXcampaign $SPX What a fun day! Lots of action. Ended up rolling 4 put spreads: 2 into condors, one into further puts and one into calls. Here are trades that I did not post earlier:
Closed on GTC orders:
Aug 25th 2520/2545 call spreads for .20. Sold for 1.90 on July 27th
Aug 18th 2505/2530 call spreads for .20. Sold as part of a #CondorRoll for 6.70 on July 19th
Stop and Roll:
Closed Sep 8th 2375/2350 put spreads for 2.95. Sold for 1.50 on Tuesday.
#Rolling Sold Sep 15th 2310/2285 put spreads for 2.05 (1.5x position size).
Closed Aug 25th 2395/2370 put spreads for 3.40. Sold for 1.35 on July 25th.
#ReverseRoll Sold Aug 25th 2480/2505 call spreads for 3.50.
Standard Campaign Spread:
Sold Sep 8th 2510/2535 call spreads for 1.75.
Taking Profits
Bought to close Aug 21st 2480/2505 call spreads for 2.20. Sold for 8.90 on Monday. This was an extra spread I threw on, and I decided to close it now in case we’ve seen the bottom. I have two spreads that were sold ITM and are now just OTM that I will watch as I don’t want them to fall back way-ITM again.
$UVXY #ShortCalls #NonStandard – Sold…
$UVXY #ShortCalls #NonStandard – Sold 25/100 UVXY Jan 19 2018 60.0 Calls @ 1.71.
Breakeven is above 240 on the stock.
$SVXY #ShortPuts #OptionLadder – After…
$SVXY #ShortPuts #OptionLadder – After hours fills coming in bunches as the stock gives up 3 more points after hours.
Sold 1 SVXY Aug 18 2017 64.0 Put @ 2.03 with the stock at 72
Sold SVXY Aug 18 2017 55.0 Puts @ 0.69
Sold 1 SVXY(Weekly) Sep 1 2017 50.0 Put @ 1.24
Sold SVXY(Weekly) Sep 8 2017 40.0 Puts @ .80
Sold 1 SVXY(Weekly) Sep 8 2017 45.0 Put @ 1.09
Sold 1 SVXY Sep 15 2017 42.5 Put @ 1.29
Sold 1 SVXY Sep 15 2017 41.0 Put @ 1.09
Sold 1 SVXY Sep 15 2017 40.0 Put @ 1.09
Sold 1 SVXY(Weekly) Sep 22 2017 45.0 Put @ 1.67
/VX on a tear after hours
$UVXY at 43, $SVXY at 72.
$UVXY #ShortCalls #Nonstandard #ClassicVXXGame –…
$UVXY #ShortCalls #Nonstandard #ClassicVXXGame – Got two more orders off just after the closing bell. Either margin calls or anxious buyers in an illiquid contract.
Sold 1 UVXY 25/100 Jan 18 2019 60.0 Call @ 3.35.
Sold 1 UVXY 25/100 Jan 18 2019 60.0 Call @ 3.55.
Strike price breakeven is 240.0 with the stock at 40.60
VXX gaming
#VXXGame BTC $SVXY Sept 90 call for 1.80. Sold for 4.65 (effective price)
STO $UVXY Aug 25th 68 call for 1.33
SVXY
STO September 8, 50 puts @1.30
VIX futures now in backwardation
VIX futures now in backwardation
Front month and second month: http://vixcentral.com/
T-2108
Anyone know where the T-2108 is trading today?
SPX next-day
#SPXcampaign Sold to Open $SPX Aug 11th 2425/2400 put spreads for 2.00, as SPX hits a new low of 2443
$UVXY #ShortCalls #VXXGame – I…
$UVXY #ShortCalls #VXXGame – I will be adding to these …. slowly, until even higher strike prices are available.
So far today, the stock has topped out at 39.54
Sold 1 UVXY AUG 18 2017 68.0 Call @ 1.35
Sold 1 UVXY SEP 1 2017 64.0 Call @ 2.82
Sold 1 UVXY SEP 8 2017 64.0 Call @ 4.09
Sold 1 UVXY SEP 15 2017 68.0 Call @ 4.00
Sold 1 UVXY SEP 22 2017 64.0 Call @ 5.10
CMG Dec
Sold $CMG Dec 15 230 put @ 2.60. Lowest strike. Willing to take the chance that the stock doesn’t have another 100 point (30%) drop in it before Dec. The strike is at a level CMG hasn’t been in 6 1/2 years (Feb 2011).
Market
Even with SPX still down more than 20 points, they have started selling vol hard.
VXX 1:4
#ReverseSplit – In a couple weeks…
http://www.businesswire.com/news/home/20170809006219/en/Barclays-Bank-PLC-Announces-Reverse-Split-iPath%C2%AE
SVXY
STO September 22, 40 puts @1.05
$UVXY
STO Aug 25 $37/$38 call spreads @ $.033
SPX roll
#SPXcampaign Since this one started going ITM with less than a week to expiry, rolled into a somewhat tight condor.
Closed $SPX Aug 16th 2450/2425 put spreads for 6.65. Sold last week for 2.25
#CondorRoll Sold Aug 23rd 2385/2410/2480/2505 condors for 7.15
$UVXY #ShortCalls #Nonstandard #ClassicVXXGame -…
$UVXY #ShortCalls #Nonstandard #ClassicVXXGame – Sold 1 UVXY 25/100 Jan 18 2019 60.0 Call @ 3.15.
TOS says the breakeven stock price is 252.60
Short Vol sales
#VXXGame. Dipping in…
Sold $UVXY Sept 15th 68 call for 4.70 (highest strike)
Sold $SVXY Sept 15th 52 puts for 1.90
Sold $SVXY Jan 2018 25 put for 3.50
TTD earnings
#Earnings I don’t know this stock and it’s a fairly new issue. It has moved steadily up since IPO. Only three earnings reports; two positive, one slightly negative but recovered within a week. I am using a spread because it is too new and unknown to risk naked.
Sold to Open $TTD Aug 18th 45/40 put spreads for .80. Biggest UP move: 30.1%, Biggest DOWN move: -2.8%, Average move: 13.9%. My short strike is -11.8% OTM, with stock at 51.00.
The Trade Desk, Inc., a technology company, operates a self-service cloud-based platform that enables advertising buyers to create, manage, and optimize data-driven digital advertising campaigns using their own teams in the United States and internationally. Its platform allows clients to manage integrated advertising campaigns across various advertising formats, including display, video, audio, native, and social, as well as on various devices, such as computers, mobile devices, and connected television. The company serves advertising agencies and other service providers for advertisers. The Trade Desk, Inc. was founded in 2009 and is headquartered in Ventura, California.
SVXY stops
#VXXGame BTC $SVXY Sep 15th 90 call for 2.75. Scaling out of this position, this one at a 1.90 gain.
BTC Aug 18th 80 put for 5.65. Sold for 1.95 on July 27th. I want to avoid carrying a lot positions ITM. I will likely keep a few but will be rolling out others.
I plan to replace both with new positions, but first want to wait to see if this becomes an actual correction this time, rather than another head-fake.
SPX CondorRoll
#SPXcampaign Sold to Open Sept 6th 2275/2300/2510/2535 #CondorRoll for 2.85. A roll from the put spread stopped earlier today.
SVXY
STO December 15, 40 puts @2.55
SVXY
STO September 22, 50 puts @1.85
$SVXY #ShortPuts – Sold 1…
$SVXY #ShortPuts – Sold 1 SVXY SEP 15 2017 42.5 Put @ 1.09 with the stock at 78.60
$UVXY #ShortCalls #VXXGame – you…
$UVXY #ShortCalls #VXXGame – you know UVXY is on the move when they start adding higher strike prices.
Sold 1 UVXY AUG 18 2017 68.0 Call @ 1.05
Sold 1 UVXY SEP 1 2017 64.0 Call @ 2.62
Sold 1 UVXY SEP 8 2017 64.0 Call @ 3.29
Sold 1 UVXY SEP 15 2017 68.0 Call @ 3.67
Sold 1 UVXY SEP 22 2017 64.0 Call @ 4.79
I will be adding to these …. slowly
UVXY
Rolled WDC 9/17 90 put…
Rolled WDC 9/17 90 put to Jan. 2018 for 3.57 credit.
Brings cost basis down to 85 and change but allows me to stay in some other positions now. Kind of backed myself into a corner with some margin but now everything can stay open.
Don’t know about the rest of you but TOS has done some weird stuff with margin as soon as vol. picks up, even on cash secured stuff. Will need to speak with them to see what they are doing and why they all of a sudden calculate you need more money when it is clearly covered.
At least now I can leave the XBI and SWKS ladders open to let theta do it’s thing.
SVXY
In my IRA, STO September 15, 50 puts @1.45
$SVXY $UVXY
Sold:
$SVXY Aug 11 70 puts @ .30 (tomorrow’s expiration)
$SVXY Aug 18 75 puts @ 1.40
$SVXY Aug 25 60 puts @ 1.20
$SVXY Sep 22 50 puts @ 1.40
$SVXY Dec 15 40 put @ 2.10
$SVXY Mar 16 2018 35 put @ 2.55
$UVXY Aug 11 50 calls @ .41 (tomorrow’s expiration)
$UVXY Aug 18 68 calls @ .50
$UVXY Aug 25 60 call @ 1.80
$UVXY Sep 1 64 call @ 1.50
$UVXY Sep 8 64 call @ 2.00
$UVXY Sep 15 68 call @ 2.85
$UVXY Jan 18 2019 65 call @ 14.50
Rolled WDC 87.5 call this…
Rolled WDC 87.5 call this week out 1 and 2 weeks to 84 and 85 calls for 0.77-0.90 credits. Cost basis now 87 and change on assignment at 90. I suppose I could short the stock because that will make it go back up. 1 up day in 2 weeks…….
BTC SWKS 9/8 100 put for 2.05. Sold for 3.03 on a roll a few weeks ago. Break even trade. Would have let it sit but need so extra margin to take advantage of the sentiment change.
I may roll a 37 DTE WDC 90 put out to Jan 2018 for 3.45 credit just to bring in some cash for some other trades. Have to figure out where I want to move it first.
NVDA earnings
#Earnings Sold to Open $NVDA Aug 11th 150 puts for 1.42 (avg price), and one (1) 155 put for 2.27.
Biggest UP move: 29.8%, Biggest DOWN move: -7.4%, Average move: 10.9%. These strikes are -10.7% and -7.7% OTM respectively (with stock at 168.00).
UVXY
SPX puts stopped
#SPXcampaign This hit my 3.00 stop, so closing it and looking for a roll in the coming hours.
Bought to close $SPX Sept 1st 2395/2370 put spreads for 2.80. Sold for 1.40 last Friday.
NVDA selling
#Earnings starting to sell Aug 11th 150 puts before it bounces too much
SVXY
STO September 15, 50 puts @1.50 but staying small.
W – saving pennies
#Earnings Bought to close one (1) $W Aug 11th 80/75 put spread for 4.95. A nickel less than expiration. I will try to close the rest for less.
$SVXY #ShortPuts #OptionLadder – staying…
$SVXY #ShortPuts #OptionLadder – staying way out of the money and small with the stock at 82
Sold SVXY AUG 25 2017 50.0 Puts @ 0.46
Sold SVXY SEP 1 2017 50.0 Puts @ 0.50
Sold SVXY SEP 8 2017 50.0 Puts @ 0.87
$UVXY
STO Aug 11 $39 calls @ $1.08, expire tomorrow.
Earnings this week
#Earnings It looks like $W is a bust, and $PLCE under pressure, too. Wayfair suffers from mediocre earnings report, a weak market, and then more weak retail earnings last night.
SPX puts sold
#SPXcampaign Sold to Open $SPX Sept 8th 2340/2315 put spreads for 1.50, with SPX at 2460.
Downside Warning has fired
#VIXindicator A second signal fired when the VIX opened about 13.26, which is 50% above the VIX low of 7/26. This means we have a Warning into effect, with the possibility of further downside in the coming days or weeks.
good morning
It is going to be interesting today and tomorrow.
Expiration
$SPX 2415/2440 BUPS STO on 7/31 for 1.70 Thank you @jeffcp66
NVDA clear the sky
#Earnings Bought to close $NVDA Aug 18th 180 call for 5.30. Sold on June 8th for 4.40. I’ll do an earnings trade tomorrow by selling puts, not calls.
SPX roll
#SPXcampaign Closed $SPX Aug 16th 2440/2465 call spreads for 19.65. Sold last week for 19.90.
#ITMroll Sold SPX Aug 23rd 2445/2470 call spreads for 19.50, right before bell.
Was able to take advantage of the rally into close for a good roll, but missed fills on new put spreads earlier.
#/ym
Hey fibwizard and fuzzball
was yesterday or today better pattern and money maker on /ym?
#Markets –
#Markets –
All that and we’re gonna close flat?
Looks like it was #BTFD again.
$SVXY #ShortPuts – Sold 1…
$SVXY #ShortPuts – Sold 1 SVXY Aug 18 2017 74.0 Put @ 1.45 with the stock at 84.46.
$SVXY #ShortPuts – Sold 1…
$SVXY #ShortPuts – Sold 1 SVXY Aug 11 2017 80.0 Put @ 0.97 to add to my existing position.
This expires in 2 more days.
$MYL #ShortCalls – Bought to…
$MYL #ShortCalls – Bought to close MYL Oct 20 2017 47.5 Calls @ 0.01.
Originally sold @ 0.40 in May.
$UAA #ShortCalls – Bought to…
$UAA #ShortCalls – Bought to close UAA Jan 19 2018 35.0 Calls @ 0.01. They won’t trade any lower and there are still 163 days until expiration.
Originally sold @ 0.45 in February.
$UVXY #ShortCalls – a second…
$UVXY #ShortCalls – a second spike today to 34 – Selling at the highest strikes
Sold UVXY Aug 18 2017 65.0 Calls @ 0.67
Sold UVXY Aug 25 2017 60.0 Calls @ 1.33
Sold UVXY Sep 1 2017 60.0 Calls @ 1.80
Sold UVXY Sep 8 2017 60.0 Calls @ 2.23
Sold UVXY Sep 15 2017 65.0 Calls @ 2.61
SVXY
STO December 50 puts @3.30
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Sep 15 2017 55.0 Puts @ 1.25 with the stock at 86.10
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY AUG 18 2017 52.0 Puts @ 0.23 with the stock at 86.07
Recovery experiment
So WDC dropped 16-17 points after earnings. I had small positions on several accounts. Options Income Blueprint suggests that with a big drop like that quicker to break even by taking delivery of the stock and selling covered calls than to keep rolling the put.
So I have taken the stock on half the accounts and am rolling the puts on the other half. 3 weeks in looks like the covered calls are winning. Rolling the puts I am only able to get about 0.20 of time value each week but selling the covered calls a few strikes OTM can take in 0.50-0.70. So the cost basis is already lower on the CC than the rolled puts and with even a slight rebound can get out at even.
If you are willing to sell ATM and roll the calls can get $1-2 per week which would make break even quicker but would probably have more adjusting. Will take me about 3-6 more weeks to fix them all the way but both work.
I think the CC is quicker to recover, just ties up more capital. The bottom line is a long as you know your cost basis and eventually close out the trade above your cost basis you will come out ahead and much easier with names that have weekly options.
$TRIP #CoveredCalls – Sold TRIP…
$TRIP #CoveredCalls – Sold TRIP SEP 15 2017 40.0 Calls @ 1.25
Update on $BA Trade
This trade was based on previously posted article:
Intelligent Short Put Spread
Monthly Options
Back-test length: three-years
Open 2-days After Earnings
Close 29-days Later
Holding Period: 28-Days per Earnings
Results of Back Test
Winning Trades:
10
Losing Trades:
2
Post-Earnings Short Put Spread Return:
103.8%
Annualized Return:
113%
Closed Early
$BA BTC 8/18 255/245 BECS @ .30 STO 7/31 for 2.80
Held for 7 days rather than 29. But trade did work for me.
$AAOI rollout
I’m rolling this week’s in-the-money 75 puts out to the September monthly (9/15) expiration for 3.41 credit.
Bought to close $AAOI Aug 11 75 puts @ 6.89
Sold to open $AAOI Sep 15 75 puts @ 10.30
This further reduces my basis in the trade. With the 3.41 credit plus the 1.20 premium I took in for the Aug 11 75 puts my cost basis for the stock, if assigned, will be 70.39. It is currently trading at 68.33.
$IWM strangle
Taking advantage of the increase in volatility to sell premium. Leaning slightly bearish.
Sold $IWM Sep 15 134/142 strangles @ 2.30.
HSIC #FallingKnife Sold $HSIC Jan…
HSIC #FallingKnife
Sold $HSIC Jan 19 2018 145 puts @ 2.00
$FOSL
Post-earnings, sold $FOSL Jan 19 2018 8.00 puts @ 1.20
$SVXY
STO $SVXY Sep 15 60 put @ 1.65
$UVXY #ShortCalls #VXXGame #Scalptrade -…
$UVXY #ShortCalls #VXXGame #Scalptrade – these expire Friday
Sold UVXY Aug 11 2017 52.0 Calls @ 0.28
Sold UVXY Aug 11 2017 63.0 Calls @ 0.11 – highest strike
#VXXGame trades Sold these near…
#VXXGame trades
Sold these near the open:
$SVXY Aug 25 67.50 puts @ 1.10
$SVXY Sep 1 62.50 puts @ 1.10
$SVXY Sep 8 60 puts @ 1.15
$SVXY Sep 15 52.50 puts @ 1.10
$UVXY Aug 25 60 calls @ .94
$UVXY Sep 1 60 call @ 1.40
$UVXY Sep 8 60 call @ 1.70
$UVXY Sep 15 65 call @ 2.27
$UVXY Sep 22 55 call @ 3.13
$UVXY Dec 15 65 call @ 7.00
$UVXY Jan 19 2018 65 call @ 8.10
$UVXY Mar 16 2018 60 call @ 9.00
$UVXY #ShortCalls – staying small…
$UVXY #ShortCalls – staying small but getting higher prices than the last VIX move
Sold 1 UVXY Jan 19 2018 65.0 Call @ 8.00
Sold 1 UVXY Dec 15 2017 65.0 Call @ 7.00
$SVXY #ShortPuts – small positions…
$SVXY #ShortPuts – small positions for next week
Sold SVXY Aug 18 2017 74.0 Puts @ 1.24
Sold SVXY Aug 18 2017 73.0 Puts @ 1.16
Sold SVXY Aug 18 2017 72.0 Puts @ 1.09
$SVXY #ShortPuts #IRA #Scalptrade -…
$SVXY #ShortPuts #IRA #Scalptrade – using up some IRA buying power
Sold SVXY Aug 11 2017 75.0 Puts @ 0.49
Sold SVXY Aug 11 2017 73.5 Puts @ 0.31
Sold SVXY Aug 11 2017 72.0 Puts @ 0.30
These expire Friday
UVXY #shortstock short at 32.59,…
UVXY #shortstock
short at 32.59, so far so good.
Trades yesterday & this morning
#Earnings #LongCalls #LongStock
Remaining $ZNGA long stock closed yesterday on trail stop for 3.70. Breakeven on that half, small loss on the first half. Over all just under $100 loss on a long-call purchase.
#VXXGame BTC $SVXY Sep 50 puts yesterday for .53. Sold in the 100/180 strangle (after split: 50/90) for 18.95 on March 21st.
#SPXcampaign Overnight: Closed on GTC order: $SPX Aug 17th 2515/2540 call spreads for .20. Sold for 1.60 on July 19th.
This morning: Closed on GTC order: SPX Aug 25th 2525/2550 call spreads for .20. Sold for 1.75 on July 25th.
$VIX $UVXY $SVXY
$VIX $UVXY $SVXY – just to get perspective on the magnitude of these potential moves.
7/6/2017 VIX=13 UVXY=45 SVXY=75 (approximately)
7/12/2017 VIX=10.85(on it’s way down to 8.84 on 7/26) UVXY=38.48 SVXY=80.83
Today(premarket) VIX=12.63 UVXY=32.80 SVXY=86.22
Downside signal fired
#VIXIndicator A downside signal has fired in the pre-markets, with VIX passing 12.41. This cancels the Upside Warning, and puts us on notice that more downside is possible. If the VIX hits 13.26, that would be a full-fledged Warning.
For those trading #VXXGame, be careful if you are carrying multiple short volatility positions. Take profits early; don’t always wait for expiration!
Options Bistro 