STO XBI 11/3 79 put at 0.93. Added a 4th week to the ladder.
The OTM options on this decay fairly quickly so open 30-40 DTE and usually roll when they have 1-2 weeks left so they are not open until expiration. Works well like tastytrade style but you can usually get more than 50% out of it before rolling.
$ALXN #ShortStrangles – Covered some November strangles to release some margin.
Bought to close ALXN Nov 17 2017 80/165 Strangles @ 1.35.
Originally Sold the Puts on 05/23/2017 @ 2.10 as a #FallingKnife trade.
Then as the stock recovered sold the Calls on 07/27/2017 @ 2.35 and again on 07/28/2017 @ 2.85.
The Strangle may have expired, but it’s a long time until November, and the puts were so low, they weren’t really protecting the calls anymore.
$RL #ShortPuts – Bought to close 1 RL Oct 20 2017 55.0 Put @ 0.05.
Originally sold on 05/24/2017 @ 1.20
#shortcallspreads TSLA
Sold Oct. 20, 385/390 spreads for .60 each.
$AAOI #ShortPuts Bought to close Sept 29th 60 Puts @ 0.50 as a risk off trade. I put the order in this morning on the off chance it might get filled. Originally sold for 2.45 so it definitely was time to go.
http://tinyurl.com/yd5kecfx
#SPXcampaign Just closed $SPX Sep 27th 2470/2445 put spreads for .35. Sold in a #CondorRoll for 9.90 on Sep 11th.
$AMGN #ShortPuts – Bought to close 1 AMGN Oct 20 2017 130.0 Put @ 0.01. It won’t trade any lower.
Originally sold on 05/11/2017 @ 1.35.
Also still short the Jan 115 Puts
SVXY rolled 10/6 78 put to extra week for 0.60 credit. I figure as long as I can roll each week for 0.50 or so will wait for roll up until we get a pull back, maybe someday.
Cost basis now 12.12 and 17.2 depending on lot.
The diagonals work on the high vol. products. Does not work as well for spy/qqq as it used to. Infact the leaps are priced with higher vol so hard to make up the theta decay by selling weeklies. Up 4k+ on 8k initial investment so 50% return in 6 weeks but this ticker I think it makes more sense just to go synthetic long on a vol. spike.
However this is an ongoing experiment so will continue it until the end but I may set up another batch on the next vol spike and see how the synthetic long without selling weeklies works.
Sold $NUGT 1/19/18 66 calls @ 1.15. Highest strike.
#SPXcampaign $SPX Took several stops today on put spreads but only rolled one of them. I am lightening up on positions since I will be traveling. Was caught in the head fake high and then the plunge, resulting in crappy trades for the Oct 27th standard spreads and the #ITMroll.
In chronological order from this morning:
Closed on GTC order: Oct 2nd 2425/2400 put spreads for .25. Sold for 1.70 on Sept 1st.
Sold Oct 27th 2415/2390 put spreads for 1.50.
Closed Oct 2nd 2475/2500 call spreads for 19.85. Sold for 19.00 last Monday.
Rolled to: Oct 9th 2470/2495 for 17.75 (dropped DOWN a strike and lost 2.10 – horrible timing)
Stopped Sept 27th 2490/2465 put spreads for 5.25. Sold Friday for 2.00.
Sold Oct 27th 2545/2570 call spreads for 1.70.
Stopped Oct 9th 2480/2455 put spreads for 4.25; rolled to:
#CondorRoll Sold Oct 16th 2380/2405/2530/2555 condors for 2.90 (1.5x position size)
Stopped Oct 6th 2475/2450 put spreads for 4.35. Sold for 2.60 on Friday.
Stopped Oct 4th 2475/2450 put spreads for 3.30. Sold in a #CondorRoll for 9.25 on Sep 15th.
Sold $UVXY Nov 17 70 calls @ 1.00
#401k #IRA – Going thru some long term positions that were more delta plays as opposed to theta. Clearing the decks just a little to make room for some #Earnings possibilities or the occasional #FallingKnife opportunity.
Bought to Close NVDA JAN 19 2018 110.0 Put @ .81 (sold for 2.50)
Bought to Close NVDA JAN 19 2018 120.0 Put @ 1.39 (sold for 4.25)
Bought to Close URI JAN 19 2018 75.0 Put @ .35 (sold for 2.30)
Bought to Close URI JAN 19 2018 80.0 Put @ .48 (sold for 3.10)
Bought to Close URI JAN 19 2018 85.0 Put @ .64 (sold for 4.20)
Bought to Close WDC JAN 19 2018 70.0 Put @ 1.43 (sold for 2.70)
Bought to Close WDC JAN 19 2018 75.0 Put @ 2.43 (sold for 3.95)
Bought to Close WYNN JAN 19 2018 100.0 Puts @ .62 (sold for 2.70)
#ShortPuts – Closed a lot of these last week. Coming back in with one but a little higher…
Sold 1 SVXY NOV 17 2017 65.0 Put @ 2.63
Lightening my exposure a little to this ticker.
Bought to close $GWW Dec 15 130 put @ .50. Sold for 2.10 on 7/19.
#shortputs #fallingknife EFX
Closed Oct. 65 put for .15, sold for .73, still have a Jan. 50. My margin on the 65 was $658. Even though EFX is back over 100, the plan is to free the margin with only $15 remaining, 11 day trade.
btc oct 6, 2500/2525 @ 6.40 had sold for and roll… roll…….. roll ………..
for 3 months. had collected 7.05 in credit,thanks to what ever is driving this down bus today.(and thanks Jeff for good ideas and getting out of ditm spreads.)
This had been a problem child …done.!!
I am basically all cash now .
Looking for next thing out there.!
Sold $AAOI Dec 15 30 puts @ 1.60
$SIG #ShortPuts – Bought to close SIG OCT 20 2017 45.0 Puts @.05. with the stock at 65.33.
A former #FallingKnife trade that isn’t going to trade any lower.
Sold on 03/03/2017 @ 1.60 and on 05/25/2017 @ 2.40
$SPX Sold to open Oct 20th 2550/2570 / 2360/2380 Iron Condor for 1.45 when $SPX was at 2500.36 near the open.
$SQ Stopped out of my last portion of stock at 27.50 when $SQ tried to ping the 20dma.
$SVXY 9/22 OpEx Sept 60 Puts expired.
And That’s all she/he/it wrote.
Sold $NVDA Jan 19 2018 120 puts @ 1.20. I don’t know if it will get down that far but I’m looking to accumulate a long term position in this stock and I would love to get some below 120.
btc oct 2515/2540 1.40 and 1.30 had sold 1.70
btc oct 11 2530/2550 1.15 had sold for 1.60
btc oct 2535/2560 1.10 had sold 1.75
consider today gift from option gods and Christmas time.
still have one more to get off my plate.
A couple of small trades
STO Oct 6 $UVXY $40 calls @ $0.45
STO Oct 13 $SVXY $55 puts @ $0.45
STO Oct 20 $SVXY $50 puts @ $0.45
Got head-faked and made some long trades at the market top today. Sell-off now looks compelling, even though TICKs are not showing usual -600 readings. VIX is at day’s highs. Big failure on upside warning, but not surprised this time. VIX has not had usual correlation to SPX movement for much of this year.
btc sept 29 2525/2550 @ .45 had sold for 1.50
btc what was a roll to sept 29 2510/2535 for 2.40 had sold for 3.00
$KR #ShortPuts #FallingKnife – Sold 1 KR APR 20 2018 18.0 Put @ 1.15
#ShortPuts Closed on GTC order: $AAOI Sept 29th 55 puts for .20. Sold for 1.90 on Sep 13th.
Replaced with:
Sold to open AAOI Oct 13th 55 puts for 1.90
Great premium on this one still. Perhaps someone is expecting a huge dump.
$DUST #CoveredCalls – Sold DUST Sep 29 2017 26.5 Calls @ 0.25 with the stock at 24.82.
These replace last week’s strike 25.0 Calls that expired on Friday.
Be sure to periodically click “Home/REFRESH” above to keep Bistro features updated
Did not have time to post Friday, too busy at work but managed to snap off and roll some trades at lunch and a few seconds before the closing bell.
STO next week WDC 85 puts at 1.00. Good support at 85 now.
Rolled WDC 9/23 calls out and up 2 weeks to 86 for a credit of .82. Trying to keep for 2 more weeks for the dividend then will unload and restart ladders. Good premiums!
Did the same with the 84 calls up to 85 for 0.43 credit.
Tried to do the same later with another account but the market makers became greedy at the close so rolled 84 to 84 2 weeks out for 0.67 and 0.73. That gets me past the dividend unless someone takes early assignment.
Collected $1393 on the rolls and now my cost basis on WDC is 80-82 depending on the account after being assigned at 90 so after the dividend will roll for cash 1-2 more weeks then unload and start over and the dividend is 0.50 per share.
Also closed out 5 months with a 26.6% return on entire portfolio including the losing trades since joining the bistro ranks! Thanks for helping me find new trading vehicles and improving my consistency.
With the low vol I have been scouring the market for good premiums to sell and here is what I have found for the next few weeks or until we get a vol spike. AAPL is moving up the premium ladder with the recent drop. Others that also look good for weeklies or ladders WDC, SWKS, TQQQ, GILD if you go out 2 weeks or more since the rebound, AAL and DAL are good percentage wise, FSLR and EOG. If I find any others will post and don’t know if any of them have earnings. TSO has been reborn as ANDV but the options are not real liquid yet but am watching it. TSO has been my most productive ticker for 5 months and was sad when it merged as the option premiums dried up. XBI still good for ladders but with the move up having to go closer to the money.
Hope it helps or you find something useful in there.
Hope you all had a great Friday. @fuzzballl, as it turns out, there was beer in the boat but definitely no shade. Here in Iowa, we actually had the warmest day of the year here on Friday, go figure. July and August were below normal, I think Jeff was keeping all the heat out west.
Very low on open positions, this is all I had expire this week.
$UVXY $25 calls
$UVXY $91 calls
#optionsexpiration
Full Profit
$TSLA 320/330 BUPS
$SPX 2305/2330 BUPS
$AAOI 55 puts
$SPX 2480/2505 BUPS @ 20% profit
$SPX 2510/2525 BUCS @ full loss. Opened earlier this week and did not take a quick 30% profit on Wednesday. When will I learn to take profits? (rhetorical)
Closed Early
$SPX 9/29 2475/2500 BUPS BTC 9/21@ 1.80 STO 9/18 @ 3.60 If I waited this one out it would have been more profitable. Running scared.
#shortputs
$MZOR STO 10/20 45 put @1.25
#longput
$TSLA BTO 10/20 365 put @ 12
#assignment
$SYMC 34 puts Basis 33.5 Anti Equifax Trade Not Working Well
Thanks to everyone on this site with a special shout out to the indomitable @jeffcp66
Have a great weekend.
$AZO #ShortPuts – Bought to close 1 AZO OCT 20 2017 350.0 Put @ 0.05. It won’t trade any lower, has a high margin requirement, and still has 4 weeks to expiration.
Originally sold on 07/06/2017 at 2.60.
#OptionsExpiration #Weeklys #Sep22 – a light week this week, and a light week next week as well.
Added a bit to my long $DUST stock position and exited the last of my $TRIP stock.
— Expirations —
AZO (Weekly) Sep 22 2017 660 Calls
DUST (Weekly) Sep 22 2017 20 Puts
DUST (Weekly) Sep 22 2017 25 Calls (Covered)
SVXY (Weekly) Sep 22 2017 30 Puts
SVXY (Weekly) Sep 22 2017 35 Puts
SVXY (Weekly) Sep 22 2017 40 Puts
SVXY (Weekly) Sep 22 2017 55 Puts
SVXY (Weekly) Sep 22 2017 60 Puts
SVXY (Weekly) Sep 22 2017 72 Puts
SVXY (Weekly) Sep 22 2017 90 Calls (Covered)
UVXY (Weekly) Sep 22 2017 55 Calls
UVXY (Weekly) Sep 22 2017 64 Calls
— Assignments —
DUST (Weekly) Sep 22 2017 31 Puts
DUST (Weekly) Sep 22 2017 34 Puts
TRIP (Weekly) Sep 22 2017 40 Calls (Covered)
$SVXY #ShortCalls – 10 minutes after the close, covered a couple of calls for gains.
Bought to close SVXY Sep 22 2017 88.0 Calls @ 0.97 – Sold at 1.05 this week
Bought to close SVXY Sep 22 2017 89.0 Calls @ 0.20 – Sold at 1.06 this week.
$AAOI Sep 22 62 puts
$SVXY Sep 22 40 puts
$SVXY Sep 22 50 puts
No assignments.
#SPXcampaign
#RiskReversal Bought to Open $SPX Sep 29th 2515/2530 call spreads for 2.00
Sold to Open SPX Sep 27th 2490/2465 put spreads for 2.00
Closed Sep 29th 2480/2505 call spreads for 17.15. Sold for 17.45 last Friday.
#ITMroll Sold Oct 6th 2485/2510 call spreads for 16.50.
Sold Oct 6th 2475/2450 put spreads for 2.60.
Closed on GTC order: Oct 6th 2365/2340 put spreads for .25. Sold in a #CondorRoll for 3.18 on Aug 31st
Sold Oct 19th 2545/2570 call spreads for 1.70. Standard spread sold just before the week closes.
No expirations tonight!
#ShortPuts Rolled Sept 29th 65 Put out and up to Oct 20th 75 Put for 2.35 credit. This is a single contract in my Roth and the highest strike in my Oct ladder so I’m comfortable with raising the strike.
#VIXIndicator We are heading into an upside warning with a third consecutive close below 9.96. This signal rarely is false.; while recent Downside warnings have often been head fakes, the Upsides have been good for at least a small rally before stopping, which in this case would mean 10-30 points higher on SPX next week. Hard to believe that will happen with the recent range-bound, dull movement. And weekend news could derail it as well.
SVXY: 40 puts, 50 puts, 55 puts.
That is it for today and I am going to the gym. Have a nice weekend.
#IRA #ShortPuts – Taking off my highest strikes for nice profits. After this, 35 is my highest strike still sitting out there.
Bought to Close SVXY DEC 15 2017 50.0 Put @ 1.72 (sold for 4.40)
Bought to Close SVXY DEC 15 2017 45.0 Put @ 1.32 (sold for 3.63)
Bought to Close SVXY DEC 15 2017 40.0 Put @ 1.00 (sold for 2.77)
#VXXGame #LongPutDiagonals #Rolling #StrangleRoll
As $VXX and $UVXY continue to bleed out, I’m rolling my last ITM puts into strangles.
BTC VXX Sep 22nd 47 puts for 5.75.
Sold VXX Oct 20th 44/50 strangle for 5.86
Sold VXX Oct 20th 43/46.5 strangle for 5.45
I’ll see another next week. Managing the weeklys on this long trade has gotten messy, but it keeps me busy!
#FallingKnife to keep an eye on…no idea why they’re falling. Just throwing them out there as a couple big losers today.
#CoveredCalls #IRA – Still trading around a few shares…
Bought to Close SVXY SEP 22 2017 90.0 Calls @ .03 (sold for .60)
Sold SVXY SEP 29 2017 91.5 Calls @ 1.03
Actual trade was a roll up 1.5 points for a 1.00 credit. Picking up 2.50 of upside…
John McCain announced opposition to Graham-Cassidy bill and healthcare stocks are surging.
#ShortPuts #IRA
STO $SVXY Nov 17 70 put @ 2.96 when $SVXY @ 89.34.
#IRA #ShortPuts – No position in this thing so starting one well below the 200ma.
Sold AAPL JAN 19 2018 140.0 Put @ 3.83
Sold AAPL FEB 16 2018 135.0 Put @ 3.70
Sold AAPL APR 20 2018 130.0 Put @ 3.56
#ShortPuts $SVXY Sold to open Oct 20th 75 Puts @ 2.05 when $SVXY was at 88.39.
$MYL #ShortCalls – Bought to close MYL Jan 19 2018 50.0 Calls @ 0.01. They won’t trade any lower and it’s still 4 months to expiration.
Originally sold on 05/23/2017 @ 0.64
$SVXY #ShortCalls – Bought to close 1 SVXY Sep 22 2017 91.0 Call @ 0.01.
Sold earlier this week for 1.08
$KR #ShortPuts #FallingKnife – Sold 1 KR Apr 20 2018 19.0 Put @ 1.50
$SVXY #ShortCalls #Rollup – Got a nice dip on the opening so I rolled the ones most likely to be assigned out a week.
Bought to close SVXY Sep 22 2017 85.0 Calls/Sold SVXY Sep 29 2017 86.5 Calls @ 0.12 Credit
Bought to close SVXY Sep 22 2017 86.0 Calls/Sold SVXY Sep 29 2017 87.5 Calls @ 0.12 Credit
Bought to close SVXY Sep 22 2017 87.0 Calls/Sold SVXY Sep 29 2017 89.0 Calls @ 0.12 Credit
Market starting to move a little, 9 points /es after hours. Keep some cash handy, might have some trades tomorrow.
I am looking at /es strangle at 2345 and 2565 but probably wait until the morning to see what the open brings. Plus will have some more cash tomorrow from a transfer and rolling positions will give me some extra cushion.
Closed Early
#earnings
$ADBE STO 9/22 150/155/162.5/157.5 @ 3.10
Closed out BUPS today at high of day (only stroke of good fortune today) BECS portion will expire. Trade lost 63 per contract.
Others Closed Today
$TSLA BTC 9/22 380/370 BECS @ 2.70 STO as part of IC @ 1.94 BUPS part will expire worthless tomorrow. Trade netted 151 per contract.
$JD BTC 10/20 45/43 BECS @ .80 STO as part of IC on 8/30 @ .65. The BUPS is still open and 71% profitable.
$SNAP BTC 10/20 15 put @ 1.51. STO 8/29 @ 1.15
$SPX BTC 9/22 2450/2475 BUPS @ 90% profit
$SPX BTC 9/25 2525/2500 BECS @ 8.00 STO 8/22 @ 2.00
Trades
#spxcampaign
$SPX STO 10/20 2390/2415 BUPS @ 1.45 Thank you @jeffcp66
$SPX STO 9/22 2480/2505 BUPS @ 3.50 Thank you @jeffcp66
#shortputs
$AAPL 10/20 140/148 BUPS @ 1.00 (OMM Trade)
#SPXcampaign Closed $SPX Sep 22nd 2205/2480 put spreads for 4.70. Sold yesterday for 4.90. As we head into the close, we’re looking pretty weak, so can’t risk an overnight gap down. This was only a hedge against the short 2505 call spread, which I closed this morning.
Also, sold to open Oct 4th 2470/2495 call spreads as an #ITMroll from spread stopped yesterday. I was unable to move short strike up.
$AGN #FallingKnife
Sold $AGN Jan 19 2018 160 puts @ 1.50 with the stock at 203.58. Stock hasn’t been at the strike price in nearly 4 years (Jan 2014).
STC 9/22 $42.5 puts @ $1.69
STC 9/29 $44 puts @ $3.60
Made some gas money. I’m going to be away from the market fishing tomorrow so was only going to hold these as long as $VXX was dropping. Was hoping for more of a drop this morning, but that didn’t happen, so I’m out.
close and roll higher
btc sept 29, 2450/2475 for 23.20
sto oct 6 ,2500/2525,double size at 11.85 x 2 =23.70
forward credit 6.55+23.70-23.20=7.05 forward credit.
Will see what future brings.
Thanks Jeff for suggestions.
$DUST #ShortCalls – a couple of orders this morning.
Sold DUST Nov 17 2017 35.0 Calls @ 0.75 – highest strike
Sold 1 DUST Dec 15 2017 35.0 Call @ 1.30
#ShortStrangles – Back into one of my favorites. Selling the week before earnings…
Sold NVDA NOV 3 2017 165.0/215.0 Strangles @ 3.51
$VIX – has dropped below the pre-market low and is now at 9.54
I admit it is boring sitting on cash but I have this feeling that rising interest rates are going to have an impact on the stock market. Also, the Faang stocks are no longer leading the market. That is a bad sign when the generals are not leading the troops. I expect to be very quiet for the next 5 weeks.
#SPXcampaign Closed $SPX Sept 22nd 2505/2530 call spreads for 2.95. Sold for 1.60 on Aug 25th.
This one slipped by me and should have been stopped when it hit my 4.00 stop. But I weathered through its peak around 9.00 and got out decently today. I sold the opposing 2505 put spread yesterday, and will look to exit today if possible. I am moderately bullish into tomorrow.
I am leaving on a 2-week trip on Tuesday so will be adding fewer aggressive positions. I’ll be trading during the trip but not at my computer as often.
$NUGT #ShortPuts – sold all these on the opening this morning. Paired these off with calls I sold on the last rally.
NUGT SEP 29 2017 30.0 Puts @ 0.58
NUGT OCT 6 2017 28.5 Puts @ 0.58
NUGT OCT 20 2017 26.0 Puts @ 0.56
NUGT OCT 27 2017 25.0 Puts @ 0.60
#SPXcampaign Sold to Open $SPX Oct 19th (monthly) 2415/2390 put spreads for 1.40.
Closed Early
#spxcampaign
$SPX BTC 9/29 2315/2340 BUPS @ .10 STO 8/29 @ 1.65
$SPX BTC 9/22 2500/2475 BECS @ 21.00 STO 8/29 @ 5.20 Getting a little faster
#longcalls
$WYNN BTO 10/20 143/148 BUCS @ 2.95 Experimenting on buying a BUCS in the money on a stock I expect to go up AND the BUPS returns not too exciting.
#shortputs
$AMZN STO 10/20 900/920 BUPS @ 2.50
#VIXIndicator Well with a close finally below the 78.6% line, the Downside warning that started on Sept 5th is finally canceled. In the “correctionless” last 20 months, the Indicator has become more lagging than ever, so not sure what to make of it.
Sold Nov 17 30 puts (lowest strike) @ 1.20 with the stock at 63.72. Kind of surprised at the premium down here but I’ll gladly take the stock at 28.80 in November if it gets cut by more than half by then.
$VIX – below the morning low at 9.67. Nothing to do here that I can see.
I did not catch the top of the vol spike
BTO Oct 6 $FXE $113.5 calls @ $1.58
STO Sep 29 $VXX $45 calls @ $.52
STO Sep 29 $VXX $47.5 calls @ $.32
BTO Sep 22 $VXX $42.5 puts @ $1.62, just for something new
BTO Sep 29 $VXX $44 puts @ $3.43
STO Sep 22 $UVXY $25 calls @ $.37
STO Sep 29 $UVXY $31.5 calls @ $.40
Put a little money to work, all of these are small positions
Bought to close $DRIP Oct 20 35 calls @ .05. Sold for 1.60 on 8/3.
Remaining positions: Short Nov 40 calls, Dec 35 and 40 calls.
$NUGT #ShortPuts – Sold NUGT Oct 27 2017 25.0 Puts @ 0.57.
Having difficulties getting any DUST Calls sold, so going a different way. And these options trade in 1 penny increments.
Options Bistro 