#shortputs
$MOMO STO 10/20 35 put @ 1.35
Monthly Archives: September 2017
XBI ladders
Rolled 16 DTE 77 put to 37 DTE 79 put for 0.82 credit. Sold for 1.1 about 4 weeks ago.
RH earnings
#Earnings #ShortStrangles
Sold each side separately: $RH Sep 8th 36 puts for .50, and 64.5 calls for .60. Over last 12 earnings, the 3-day moves: Biggest UP move: 21.7%, Biggest DOWN move: -26.4%, Average move: 11.4%. My strikes are each about 28.4% OTM.
SPX roll
#SPXcampaign I rolled this one earlier as the downside risk is too great this close to expiration.
Bought to close $SPX Sep 8th 2480/2455 put spreads for 13.50. Sold last week for 6.80.
#CondorRoll Sold to Open Sep 20th 2435/2460/2485/2510 condors for 10.50, 1.33x position size.
EDIT: I closed PUT spreads, not call spreads.
SVXY/UVXY reducing position size
Taking some more off at most of max profit just to reduce my size a bit.
Bought to close:
$SVXY Sep 15 65.00 puts @ .55 Sold for 5.25 on 5/8
$SVXY Sep 15 42.50 puts @ .10 Sold for 1.30 on 6/15
$SVXY Sep 15 37.50 puts @ .04 Sold for .78 on 5/17
$UVXY Sep 22 82.00 call @ .12 Sold for 6.00 on 8/11
$UVXY Sep 29 82.00 call @ .40 Sold for 6.80 on 8/11
$HES #CoveredCalls -Sold HES Sep…
$HES #CoveredCalls -Sold HES Sep 8 2017 41.5 Calls @ 0.19 with the stock at 40.73.
These expire on Friday
$HP #ShortPuts – Bought to…
$HP #ShortPuts – Bought to close HP Sep 15 2017 45.0 Puts @ 0.95.
Originally sold these @ 1.20, but the stock opened close to 42 on Friday so I’m taking some risk off at a small profit.
Plenty of other Oil-space Put exposure left plus still short HP puts in Dec at 42.50 and 40, in Jan at 40 and in Mar at 37.50.
Edit: Covered more @ 0.85
$SWN #ShortPuts – Bought to…
$SWN #ShortPuts – Bought to close SWN SEP 15 2017 6.0 Puts @ 0.38 with the stock at 5.62.
Absolutely no time premium left in this position.
Originally sold at 0.49 when the stock was much higher, so a modest gain on the trade.
$HES #CoveredCalls -Sold HES Sep…
$HES #CoveredCalls -Sold HES Sep 8 2017 41.0 Calls @ 0.23 with the stock at 40.33.
These expire on Friday
$SVXY #CoveredCalls – Sold SVXY…
$SVXY #CoveredCalls – Sold SVXY SEP 15 2017 85.0 Calls @ 0.23 with the stock at 77.79
$HP #CoveredCalls – Sold HP…
$HP #CoveredCalls – Sold HP SEP 15 2017 45.0 Calls @ 0.55 with the stock at 44.12.
Sold against stock that was recently put to me at 45.
$URBN #ShortPuts – Bought to…
$URBN #ShortPuts – Bought to close URBN Sep 15 2017 19.0 Puts @ 0.05. They won’t trade any lower.
Originally sold as a #FallingKnife trade on 3/22/17 @ 1.20
$UVXY #ShortStrangle #TastyWorks – I…
$UVXY #ShortStrangles #TastyWorks – I placed my first trade in a TastyWorks account yesterday.
Just checking out the platform, which I do not find very intuitive.
Sold 1 UVXY Sep 8 2017 27/50 Strangle @ 0.30
Cleared 27.71 after commissions and fees, so at least the commissions are low.
SPX Campaign and Closed Earlies
#spxcampaign
$SPX STO 10/6 2330/2355 BUPS @ 1.55 Thank you @jeffcp66
$SPX STO 9/13 2490/2465 @ 6.80 Thank you @jeffcp66
Closed Early (Losses were much higher on Friday – I need the sleep)
$BIDU 9/15 240/230 BECS @ 5% profit
$NVDA 9/15 175/165 BECS @ 68% loss of original credit
$SPX 9/15 2505/2480 BECS @ 31% Profit
$NUGT #ShortCalls – Sold NUGT…
$NUGT #ShortCalls – Sold NUGT 25/100 DEC 15 2017 16.0 Calls @ 0.62
$ALXN #ShortPuts – Bought to…
$ALXN #ShortPuts – Bought to close ALXN Nov 17 2017 70.0 Puts @ 0.05.
They won’t trade any lower and I’m out 73 days early.
This former #FallingKnife trade was sold on 05/24/2017 @ 1.60.
$UVXY #ShortStrangles – Sold UVXY…
$UVXY #ShortStrangles – Sold UVXY Sep 15 2017 25/50 Strangles @ 1.04
$NUGT #ShortCalls – Sold NUGT…
$NUGT #ShortCalls – Sold NUGT 25/100 Jan 19 2018 18.0 Calls @ 0.62. Equivalent strike price is 72.0
$SPX Sold this morning Iron…
$SPX Sold this morning Iron Condor Sept 29th 2570/2550/2360/2340 for $1.25 with $SPX @ 2468. Trying to get back into this.
SVXY
STO January 2019 30 puts @4.40, starting to scale some positions in at levels I want to own these.
SPX calls sold
#SPXcampaign Sold to Open $SPX Oct 6th 2520/2545 call spreads for 1.70.
SVXY
STO January 30 puts @1.25, starting to replace some puts.
NVDA…jumping back in
#ShortStrangles – Nice volatility pop today so feel like I have to sell a new position. Diving back into one of my favorites. Selling well before next earnings…
Sold NVDA OCT 6 2017 150.0/185.0 Strangles @ 2.75
SPX reverse roll
#SPXcampaign Bought to close $SPX Sep 18th 2455/2430 put spreads for 7.65. Sold in a #CondorRoll for 6.75 on Friday.
#ReverseRoll Sold Sep 18th 2465/2490 call spreads for 8.00.
VXX
#LongPutDiagonals – I like @hcgdavis ‘s rolling idea. Going pretty aggressive here since North Korea probably not going away any time soon. Took awhile but finally filled on all of them.
Rolled VXX SEP 15 2017 45.0 Puts to SEP 15 2017 47.5 Puts @ .80 credit (total credit now 1.95 on these)
SVXY rollout & down
#shortputs #rollout
Rolled out 45 days and down 15 points: BTC $SVXY Sep 15 65 put @ 1.55, STO Aug 9 @ 2.04; STO $SVXY Oct 50 put @ 1.64.
SVXY synthetic
Rolled the 79 call this week down to 75 for 1.05 credit. Brings the cost basis of the second batch down to 18.98 from 20.03.
With the VIX hovering 12-15 now and looking like it will stay there for a while keeping SVXY between 70-80 may have some good weekly premium to collect.
If we break down below 65 on SVXY will back ratio the 70/60 put spread to get some directional deltas.
SVXY
#ShortCalls #VXXGame – Top of the ladder starting to get taken out…
Bought to Close SVXY JAN 19 2018 127.5 Calls @ .20 (sold for 1.27 split adjusted)
Bought to Close SVXY JAN 19 2018 130.0 Calls @ .20 (sold for 1.60 split adjusted)
CMG rollout
Was looking for a good opportunity to roll this in the money short put in Sep to Oct but but with the big move down in the stock today there’s no premium there. I decided to go out to Nov.
Rolled $CMG Sep 15 355 puts out to Nov 17 355 puts for 2.80 credit. A little more to continue to reducing basis on this trade.
UVXY Mar
Sold $UVXY Mar 16 2018 91 call @ 7.00. Highest strike. Premium is higher now.
#VXXGame
SPX reverse roll
#SPXcampaign Bought to close $SPX Sep 13th 2455/2430 put spreads for 6.60. Sold for 4.70 last Thursday as a roll.
#ReverseRoll: Sold $SPX Sep 13th 2465/2490 call spreads for 6.75. Was able to move up 10 points and still get a credit on the roll.
UVXY Nov
I didn’t have anything on in November so I’m starting an initial position at the highest strike.
Sold $UVXY Nov 17 80 call @ 3.20.
#VXXGame
Downside Warning!
#VIXIndicator — Downside warning is in effect.
That was quick.
Downside Signal fired
#SPXcampaign #VIXIndicator It is a rare occurrence for a new downside signal to fire so soon after a previous Warning was canceled, but it just happened today. If VIX reaches 13.26, we’ll have a full-fledged Downside Warning.
UVXY
BTC all my short call positions to reduce risk and free up more cash. They were only six positions and only 1 contract per expiration. I made a small amount of money on these. Nothing to write home about.
$DO #ShortPuts – Bought to…
$DO #ShortPuts – Bought to Close DO SEP 15 2017 12.5 Puts @ 0.43.
Since this stock was at 10.31 just two weeks ago, this seems like a prudent time to take a nice gain.
Originally sold on 05/03/2017 @ 1.04 and then added on 08/21/2017 @ 2.24.
The timing of the 2nd sale made this a really nice gain.
NUGT call
#ContangoETFs Sold $NUGT Mar 16 2018 60 call for 5.50. Highest strike.
#t btc on gtc t,…
#t
btc on gtc t, jan 19 35 call @ 3.5 had sold for 4.35
at open had tried at close Friday and forgot to take off.
UVXY risk reduction
#ShortCalls – Booking these with quick profits and taking some risk off…
Bought to Close UVXY DEC 15 2017 91.0 Call @ 3.27 (sold for 6.00)
Bought to Close UVXY JAN 19 2018 91.0 Call @ 4.35 (sold for 7.20)
GLD
#PerpetualRollingStrangles – This week’s 124.5s are looking good so adding a new position a couple weeks out…
Sold GLD SEP 22 2017 125.5 Puts @ .85
$DO #ShortPuts – Bought to…
$DO #ShortPuts – Bought to close DO Sep 15 2017 10.0 Puts @ 0.01. They won’t trade any lower.
Originally sold on 05/30/2017 @ 0.47
VXX long game
#VXXgame #LongPuts
Added some more to Friday’s $VXX position and also threw out a few different strikes. These are just straight purchases, not paid for by selling call spreads.
Bought VXX Jan 2019 20 puts for 1.75, adding to my position.
Bought VXX Jan 2019 15 puts for .60
Bought VXX June 2018 25 put for 1.32
Will add more. Barring a 2008-style multi-month correction, these will profit easily.
SRPT position closed
#Earnings BTC $SRPT Sep 15th 35 put for .20. Sold for 1.20 on July 27th. Overall a losing trade from the original iron condor, since I took a loss on half at expiration. The second half fared better by covering the short stock at lower prices, but not enough to make up for the first half.
PLCE stock sold
#Earnings #Assignment #LongStock
Sold to close one-fourth of my $PLCE stock position at 108.50. Assigned on Aug 11th with 108.00 cost basis. Holding the rest with #CoveredCalls already established.
$SVXY #ShortPuts – Bought to…
$SVXY #ShortPuts – Bought to close SVXY Sep 8 2017 45.0 Puts @ 0.01. Removing some tail risk from this account.
Originally sold on 08/10/2017 @ 1.09
$UVXY #ShortPuts – Bought to…
$UVXY #ShortPuts – Bought to close UVXY Sep 8 2017 25.0 Puts @ 0.01. They won’t trade any lower.
I don’t often sell UVXY Puts but sold these on 8/16/17 @ 0.93
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 6th 2355/2330 put spreads for 1.55.
$NOV #LongStock – Unwinding a…
$NOV #LongStock – Unwinding a put assignment from the August expiration.
Sold NOV @ 31.19. Was assigned at 31.0 less a 0.45 puts premium
$NUGT #ShortCalls – Sold NUGT…
$NUGT #ShortCalls – Sold NUGT 25/100 Jan 19 2018 17.0 Calls @ 0.62. Equivalent strike price is 68.0
#spxexpectedmove ending this Friday spx…
ending this Friday spx expected range.
Econ Calendar week of 9/4/17
Good morning
Expiration/Assignment/ Short Puts/Rolled Short Put/Closed Early
#optionsexpiration
$SPX 2350/2375 BUPS
$SVXY 60 put
#assignment
$SPX 9/1 2500/2475 @ 25% profit
#shortputs
$MOMO STO 9/8 37 put @ .55
$EXAS STO 9/15 40 put @ .65
Rolled
$AAOI 9/15 65 put to 10/20 65 put for additional 3.50 credit Thank you @ramie77
Sold Early
$NVDA BTC 9/15 145 put @ .10. Sold 8/11 for 3.55
$SPX BTC 9/8 2550/2525 BECS @ .10 STO 8/7 for 1.60
Need the three days rest. Have a relaxing Labor Day and say a prayer for the people of Houston.
$SVXY #CoveredCalls – starting my…
$SVXY #CoveredCalls – starting my ladder for 2 weeks out. Already have next week covered.
Sold SVXY Sep 15 2017 84.0 Calls @ 1.12.
Options Expiration 9/1/17
#OptionsExpiration #Earnings #Assignment
Only one this week:
Assigned stock on $BBY 57.5 puts
#OptionsExpiration I sold a lot…
#OptionsExpiration
I sold a lot of positions a week ago @ $.05 or less so this is all I have left.
$VXX $45.5 put
SVXY $60 puts
UVXY $39 calls
UVXY $46 calls
UVXY $50 calls
#OptionsExpiration #Weeklys #Sep1 – the…
#OptionsExpiration #Weeklys #Sep1 – the first of 5 September expirations. Plenty of volatility winners this week with little need to cover or roll positions.
A lot of covered calls, and one assignment getting me out of a long NUGT position at a profit. I have been writing calls against this position for many months.
— Expirations —
DUST (Weekly) Sep 1 2017 21 Puts
MYL (Weekly) Sep 1 2017 42.5 Calls (Covered)
SVXY (Weekly) Sep 1 2017 42.5 Puts
SVXY (Weekly) Sep 1 2017 50 Puts
SVXY (Weekly) Sep 1 2017 55 Puts
SVXY (Weekly) Sep 1 2017 76 Puts
SVXY (Weekly) Sep 1 2017 81 Calls (Covered)
SVXY (Weekly) Sep 1 2017 81.25 Calls (Covered)
SVXY (Weekly) Sep 1 2017 81.75 Calls (Covered)
SVXY (Weekly) Sep 1 2017 82 Calls (Covered)
SVXY (Weekly) Sep 1 2017 82.25 Calls (Covered)
SVXY (Weekly) Sep 1 2017 82.5 Calls (Covered)
SVXY (Weekly) Sep 1 2017 82.75 Calls (Covered)
SVXY (Weekly) Sep 1 2017 83 Calls
SVXY (Weekly) Sep 1 2017 83.5 Calls
SVXY (Weekly) Sep 1 2017 84 Calls
SVXY (Weekly) Sep 1 2017 84.5 Calls
SVXY (Weekly) Sep 1 2017 90 Calls
UAA (Weekly) Sep 1 2017 25 Calls (Covered)
UVXY (Weekly) Sep 1 2017 60 Calls
UVXY (Weekly) Sep 1 2017 64 Calls
UVXY (Weekly) Sep 1 2017 91 Calls
UVXY 25/100 (Weekly) Sep 1 2017 14.5 Calls
— Assignments —
NUGT (Weekly) Sep 1 2017 36 Calls (Covered)
Expiration for 9/1
$SVXY Sep 1 55.00 puts
$SVXY Sep 1 62.50 puts
$UVXY Sep 1 60.00 calls
$UVXY Sep 1 64.00 calls
Have a great long weekend everyone.
$NUGT #ShortCalls – Bought to…
$NUGT #ShortCalls – Bought to close NUGT Sep 1 2017 40.0 Calls @ 0.20. Sold ’em for 0.44
$SVXY #ShortPuts Well those orders…
$SVXY #ShortPuts Well those orders were filled so I had to drop in. Sold to open Oct 6th 60 Puts @ 1.40 when $SVXY was 80.16 and Oct 13th 60 Puts @ 1.68 when SVXY was 80.45. Happened during that dip some time after 2PM. And with that I am truely done until next Tesday. Again have a great and enjoyable long weekend.
$DUST #ShortPuts #Rolldown – a…
$DUST #ShortPuts #Rolldown – a small rolldown on a position that on a better day I could have closed out for a gain.
Bought to close DUST SEP 1 2017 22.0 Puts/Sold DUST SEP 15 2017 21.0 Puts @ 0.06 Credit.
VXX long game
Bought to open $VXX Jan 2019 20 puts for 1.80
Sold to Open VXX Jan 2019 50/60 call spreads for 2.23
Net credit: .43.
I traded 10, so profit near expiration should be about $10K.
Max risk just under 10K if VXX soars above 60 and doesn’t come back down. An extremely unlikely scenario.
I’m on portfolio margin, and due to other VXX, SVXY and UVXY position, I was actually credited margin back for this trade. How much this may strain my buying power during a big correction is up to my broker.
I don’t think I will be buying a safety call as @fuzzballl does, but I will consider it. Also will consider selling weekly puts to increase profits.
Closing XOP
Taking this position off for 75% of the max. Bought to close $XOP Sep 15 29 puts @ .16. Sold for .64 on 8/11.
VXX long game
Looking at setting up #LongPutDiagonals on $VXX, following @fuzzballl‘s lead.
Effective price of VXX 16 months ago: 255.00.
Price today: 46.23
Projected price in 16 months (Jan 2019): 8.38
Buying Jan 2019 20 puts now for 1.83, they’ll be worth 12.62 at expiration.
This is the perfect opportunity, and I darned near missed it because I was watching UVXY too much. I did a study a couple years back on buying long put LEAPs right after reverse splits. It almost always works, unless a huge correction happens near expiration, which is why you would likely close a couple months early.
And if I sell some call spreads to pay for it… it’s a golden trade.
Am I missing anything?
UVXY
$NUGT #ShortPuts – Bought to…
$NUGT #ShortPuts – Bought to close NUGT Sep 15 2017 20.0 Puts @ 0.01. They won’t trade any lower.
VXX
#LongPutDiagonals – Going out 2 weeks on this one. I’ve got a stop set on this week’s that would lock in 90 percent of max profit. Wanted to get the next one on the books in case they start sucking weekend premium out of these this afternoon.
Sold VXX SEP 15 2017 45.0 Puts @ 1.15
In the split history of VXX the quickest it has ever split was a year (2 out of 4 times) so figuring a drop from 50 to 10 I’m planning on about .75 to 1.00 per week max drop.
CMG
Interesting to watch. Making a run at a close above the 20 ma today. 21 ema turning up but the 50 ma is still looming overhead. Could be 300-350 range bound for awhile. 352.96 looks like pretty strong resistance on DJ’s chart…that’s about where the 50 ma will be if she can claw her way back up that high.
More AAOI rollouts
Rolling short Sep 65 puts out to Oct 65 puts for 3.75 credit with the stock now trading at 58.57. I’m extending duration on this trade and bringing my cost basis down, if assigned, to 57.75 (65.00 strike price less 7.25–3.50 for the original Sep put sale plus 3.75 for the rollout). When I originally sold puts on this, the idea was to take assignment of a stock I wouldn’t mind owning long term. But with the rich premiums, rolling out has been the way to go. So far, at least.
SVXY synthetic
Rolled the 75 call yesterday for 0.85 credit and today the 79 calls for 1.17 credit. Both rolled to next week.
Total profit for 2 weeks on 4 contracts long and 5 short is $1198. That works out to an 11.9% return on capital but if you base it on risk is a 56% return in 2 weeks. As long as SVXY stays in a range, this may out perform all my other techniques. I am not on a computer with TOS so cannot share the graph at the moment but next weeks max profit potential is now around $1700 around the 80 strike.
Cost basis on first batch down to 13.95 from 16.06 and on the second batch 19.97 down from 21.14.
I plan to keep rolling the strikes but if we keep pushing up may go out a few weeks and up a few $ to improve capital gains. I figure as long as I can take in 0.50 or higher credit with each roll will stay at the same strikes.
Also rolled some SVXY 70 puts this week to next for 0.86 credit and WDC 84 and 85 calls to 1-2 weeks for 0.53 credit.
Profit range on the SVXY synthetic is now 68 to about 90 or so.
Have a good long weekend. Maybe we have some volatility next week when the big traders are back from summer vacation!
$AN #ShortPuts – Bought to…
$AN #ShortPuts – Bought to close AN OCT 20 2017 34.0 Puts @ 0.05. It won’t trade any lower and still has 7 weeks until expiration.
Originally sold as a #Fallingknife trade on 04/03/17 @ 1.10
#spxcampaign sto sept 29 ,2530/2555…
#spxcampaign
sto sept 29, call ,2530/2555 @ 1.60
spx at 2479
$SVXY #ShortPuts Bought to close…
$SVXY #ShortPuts Bought to close Sept 75 Puts @ .02. Nothing left for #OptionEpiration for the week. So if I’m not back this afternoon have a great three day weekend everyone.
SVXY
#CoveredCalls – I’ve got a little bit of stock left from an earlier put spread with a basis of 88. Adding to the bottom of an ever expanding December short call ladder now that Jan is looking pretty safe.
Sold 1 SVXY DEC 15 2017 95.0 Call @ 4.75
Sold 1 SVXY DEC 15 2017 97.5 Call @ 3.90
TLT…book, roll, adjust
#PerpetualRollingStrangles – A couple more and now done with this for awhile.
Taking a little more than 50 percent of max on an extra sale on the put side during the rise. This gets me back to a regular size position.
Bought to Close TLT SEP 8 2017 126.5 Puts @ .50 (sold for 1.10)
And:
Rolled TLT SEP 15 2017 131.0 Puts to NOV 17 2017 130.0 Puts @ .38 credit
Options Bistro 