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Rough day playing ATM put spreads; got whipsawed. The VIX downside warning has not been officially canceled because we have not closed below the Fib 78.6% from the small VIX spike on Sept 5th. So I’ve been hesitant to be aggressively bullish; but tried it out today on the open and got spanked.
#VXXGame #LongPutDiagonals
BTC $VXX Sep 22nd 44 puts, #Rolling: Sold Oct 13th 42 puts, .24 credit
BTC $UVXY Oct 6th 27.5 puts, #Rolling: Sold Oct 27th 25.5 puts, .15 credit
Also,
BTC UVXY Dec 91 call for 1.15. Sold for 8.00 on Aug 17th.
In my IRA, STO January 2018, 30 puts @.85
$RL #ShortPuts – Bought to close RL Oct 20 2017 60.0 Puts @ 0.05. Out at minimum value a month early.
Originally sold as a #FallingKnife trade on 5/16 and 5/17/2017 at 1.25 and 1.55
$UVXY #ShortCalls – Bought to close 1 UVXY Dec 15 2017 65.0 Call @ 1.49. Covered two in one day.
Sold this one on 08/10/17 @ 10.00.
$FOSL #ShortPuts – Bought to close 1 FOSL Nov 17 2017 9.0 Put @ 1.10.
This stock has been dropping almost from the day I sold the put at 1.30 and the stock got down to 6.80 before rebounding modestly.
It is still ITM so I’m taking it while it is profitable.
$DUST #ShortPuts – Bought to close DUST Oct 20 2017 14.0 Puts @ 0.05. Out at minimum value 5 weeks early.
Originally sold only 11 days ago on 09/07/17 @ 0.40.
I’ve also got strike 20 puts expiring this Friday.
$AAOI #ShortPuts – Bought to close 1 AAOI Sep 22 2017 50.0 Put @ 0.05. It won’t trade any lower.
Originally sold as a #FallingKnife trade on 08/07/17 @ 1.40.
$UVXY #ShortCalls #ClassicVXXGame – Bought to close 1 UVXY Jan 18 2019 65.0 Call @ 8.70.
Sold this one on 08/10/17 at 18.00.
$UVXY #ShortCalls – Bought to close 1 UVXY Jan 19 2018 65.0 Call @ 2.80.
Sold this one on 08/10/17 at 9.00.
#SPXcampaign Looks like an unfortunate whipsaw. I should’t have gotten suckered in since the Downside Warning has not been canceled. Going into triage mode.
Bought to close $DRIP Oct 20 41 calls @ .05
Sold for 1.50 on 8/21.
I’m still short 35 calls in October. Looking to take those off for .05 into the strength in oil.
Rolled 10/6 77 put to 10/27 80 put for 0.84 credit.
Sold for 1.10.
#LongPutDiagonals – She’s tanking and I’m rolling. The next one will be to 2019 if needed.
Rolled UVXY OCT 20 2017 26.0 Puts to JAN 19 2018 20.0 Puts @ .13 credit
Also:
With these short puts providing some upside protection for a possible volatility spike (yea right… 🙂 ) I’m rolling up the 2019 disaster calls for a credit. Slightly increases max loss if UVXY spikes to 60 and stays there until 2019 🙂
Rolled UVXY JAN 18 2019 40.0 Calls to JAN 18 2019 55.0 Calls @ 1.15 credit. This in effect lowers the cost of the initial trade entry.
So what’s the big picture? I eventually will have to roll these front month short puts to 2019…probably around a 10 strike. They’ve brought in a total of 3.00 so far…
Synthetically short at 30 so using 10 as a target that’s 20 points of gains. Trade entry was 16.30 debit so max gain is looking like 20.00 – 16.30 + 3.00 + residual value of disaster calls when I decide to close the trade. So possibly a 10 point winner if I’m lucky. Not what I had hoped but still a position that had a low enough risk that it allowed me in at a decent size. I think Jeff is right…just buy the puts and wait with the occasional scalp of a front month…or just synthetic short with a very loose disaster call (based on account size and appetite for risk) and not even sell any front month.
Overall it’ll be a good trade. Happy with the experiment. It’s just hard to fight the never ending lack of volatility.
#Earnings #LongStock
Sold my final 100 shares of $BBY for 57.74 as my one-dollar trailing stop was hit.
Original trade: Sold Sep 1st 57.5 puts on 8/28 for 1.06.
Assigned stock on Sep 1st
Waited for recovery and sold stock between 56.50 and 58.50.
Max profit on original trade: $738.50
Final profit in the end: $684.50
#Earnings #ShortStrangles
Sold to Open $AZO Sep 22nd 505/630 strangles for 3.20. Biggest UP move: 5.8%, Biggest DOWN move: -11.8%, Average move: 2.7%. My trade filled at 569.00 as AZO dropped from its intraday high. Probably possible to get above 3.50 now.
AZO moved down -11.8% on the day after earning last quarter, but then bounced and hovered for a few weeks before dropping much lower. I was able to escape the trade with full profit before the bigger drop. That was before AZO added weeklys.
My strikes are -11.2% and +10.7% OTM. Position size is small.
$AAOI #ShortPuts Sold to open Sept 29th 60 Puts @ 2.45 with $AAOI @ 63.93
#SPXcampaign Looks like more upside today and likely the week. Stopping call spreads, selling ITM put spreads…
Stopped: $SPX Sep 27th 2500/2525 call spreads for 12.00. Sold in a #CondorRoll for 9.90 last Monday. Partial #ReverseRoll: Sold Sep 18th 2510/2495 put spreads for 3.45. Expires today, hopefully worthless if we can close higher as I expect.
Stopped: Sep 25th 2510/2535 call spreads for 6.65. Sold last Tuesday for 3.50.
#ReverseRoll: Sold Sep 22nd 2510/2485 put spreads for 5.85.
Sold Oct 19th (monthly) 2555/2580 call spreads for 1.70.
Closed on GTC orders:
Sep 25th 2425/2400 put spreads for .20. Sold for 3.10 on Aug 31st
Sep 20th 2460/2435 put spreads for .20. Sold in a #CondorRoll for 10.50 on 9/6.
#SPXCampaign Sold to open Oct 2420/2420 BuPS @ 0.90 with SPX @ 2606.59. Partial recovery. I am staying with this expiry as I will have class trades to put on in later Expiry and wish to avoid confusion.
STO March, 35 puts @1.40
EFX, STO January 2018, 50 puts @1.15
They will not go out of business IMHO
#SPXCampaign BTC the call side of my Oct 6th 2525/2545 Iron Condor @ 3.80. The trade hit my stop. Debating on adding to the Put side and what expiry to use.
$UVXY #ShortCalls – Bought to close 1 UVXY Dec 15 2017 65.0 Call @ 1.73.
Sold this one on 07/27/17 at 6.70.
$CELG #ShortPuts – Bought to close 1 CELG Oct 20 2017 95.0 Put @ 0.01. It won’t trade any lower and I’m out a month early.
Originally sold as a #FallingKnife trade on 05/08/2017 at 1.39.
Still short the Jan 85.0 Put.
$UVXY #ShortCalls – Bought to close 1 UVXY Mar 16 2018 60.0 Call @ 4.90
Originally sold on 08/10/17 at 14.00. This is the last one of these options I have.
However I still am short March 82.0 and March 91.0 Calls which I will most likely ride to minimum value.
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