@jeffcp66, think I have the tool for the upside/downside warning and the trigger we have been discussing for going long/short VXX/XIV or the leveraged versions. Not doing any sales here but alphashark has a new tool that uses a hybrid indicator and the triggers are almost instantaneous for VIX because it was designed for futures. It is in beta test mode and because I have some other tools from them I am getting it at a discount. I reviewed some recent triggers with the developer tonight on VIX and it looks like it will give us a real time warning (or within 1 bar). I will buy it (only $299), install it this weekend and get it up and running. It may even give a signal faster than @fibwizard charts because it is adaptive. Based on BB, MACD, ATR and some other voodoo math but adapts as the volatility and ATR changes so it constantly updates itself and even sets targets based on ATR.
Not saying I am going directional here, but it should help with selling options in the right direction. Once I load it will show you guys and will set alerts for /VX and after we see how accurate it is that might be our new upside/downside trigger (if you want).
As a former ski racer, love the snow and let it keep snowing all the way through March!
$AMZN STO 1/19/20181070/1080 BUPS @ 1.56
$GME BTC 12/1 18 call @.88 BTO 11/24 @ .29
$SPX STC Remaining 12/1 2615/2630 BUCS @ 82% profit Thank you @jeffcp66 aka the snow maker.
Here’s trades not already mentioned today:
CVX: Closed #JadeLizard for $230 profit before it “slid down the slope” on the right-side P/L graph
QQQ: Opened #SharkfinHedge (as coined by Bruce Marshall) before market direction became solidified today. Dec 8 153/148/146 put fly for .53 (called sharkfin because of the P/L picture). Wanted just a bit of tech protection in case sell off continued.
NDX: Managed BeCS hedge, took 1/2 off, rolled other half to new strikes.
RH: Opened long calls (Dec 8 106) for earnings run up trade, will be closed day before earnings, high historical win rate
BA: Bitty hit profit target for $276, rolled to new expiration (Dec 15 270/267 for .50)
SPX: Rolled BeCS to new strikes for extra range
IWM: Closed JadeLizard early for $25.00 scratch (it was kind of a hedgie jade lizard, no longer needed)
NTNX: Added last tranche of short puts before earnings, trade is up very nicely after hours
PLAY: Closed long calls on Earnings run up trade for $165 (40%) profit, trade based on historical win rate.
Net Liq repair project still underway, but nice progress today
#SPXcampaign After the bell, this filled: $SPX Dec 29th 2540/2515 put spreads for 1.50. Standard weekly spread, the highest I’ve ever sold.
#Hedge – Thanks to @vxxkelly …giving this a try.
Bought SVXY JAN 19 2018 110.0/105.0/97.5 Put Butterfly @ .22 credit
Via short puts.
Sold $SQ Jan 19 35 puts @ 1.10.
Delta 25. IVR is high at 78. Earnings not expected until Feb.
Would consider taking assignment at the breakeven, 33.90.
My trade day for the YM futures today…a wild ride…
$NUGT #ShortCalls – Bought to close NUGT 25/100 Jan 19 2018 17.0 Calls @ 0.01.
Sold on 09/05/2017 at 0.62 and again at 0.74
#Earnings #ShortStrangles Closing a few of these ahead of tomorrow’s expiration as $RH has had many strong swings lately.
Closed RH Dec 1st 100 put for .70. Sold for 3.08 avg price
Closed RH Dec 1st 105 call for .20. Sold for 2.12 avg price
Came back from bike ride and WDC down another point on the day. Went @fuzzballl style and bought 10 Jan 20 90 put leaps for 22.75. I already have 15.66 credit from the straddle so don’t have to sell much over the next 111 weeks to break even. 50 DTE left on the straddle then can sell so first 8 weeks will just be watching if I can sit on my hands that long.
$BIIB #ShortPuts – Bought to close 1 BIIB Jan 19 2018 165.0 Put @ 0.05.
Originally sold in May at 1.45 as a #FallingKnife trade
$HP #ShortPuts – Bought to close HP Jan 19 2018 40.0 Puts @ 0.05.
Originally sold in May at 1.20, in July at 1.35 and in August at 1.60 as #FallingKnife trades.
$WDC #ShortPuts #FallingKnife – Sold 1 WDC Jul 20 2018 55.0 Put @ 1.40 with the stock at 79.50
#RocketManHedge – This has been kind of a fun/interesting trade/experiment. Originally put on synthetic short stock with a disaster call for 45.0 debit with max loss of 50.0 out in Jan 2018 monthly. Had enough time to sell about 4 points a week to cover max loss and still constantly carry about a 40 point downside hedge.
With the rally I’ve been selling much more aggressively and have already recovered all but about 12 points of the max loss and still have 6 weeks to run. Looks like the hedge will still be nicely profitable even though the market has gone completely against it. I’ll still sell aggressively with the plan to roll the short put out and down if we implode.
I’m happy enough with this type of hedge I may do it in slightly bigger size next time…
Bought to Close SPX DEC 1 2017 2600.0 Put @ .25 (sold for 10.50)
Sold SPX DEC 8 2017 2625.0 Put @ 7.10
$WDC #ShortPuts #FallingKnife – Sold 1 WDC Apr 20 2018 65.0 Put @ 1.75 with the stock at 80.09
I was looking at my net vega today, it was over -1140. That seemed a little high to me as far as volatility exposure. So I took the opportunity today to add an SPX #Calendar for over 400 long vega to balance things out a little.
Jan: Short Jan 2560 put
Feb: Long Feb 2560 put net debit 11.60
On Calendars I always open at 1/2 size, then when price movement heads me a little more than half-way down the slope of the P/L graph, then I’ll add on the 2nd Calendar for a double, that then leaves me with a very wide profit range for the trade.
#SyntheticStock #IRA – Rolling for a small debit. Picking up another .45 of upside and keeping the expiry prior to next earnings…
Rolled VRX DEC 1 2017 15.0 Calls to JAN 12 2018 15.5 Calls @ .05 debit
For as strong as /NQ is today, many stocks having pretty weak bounce. $FB, $SQ, $NFLX, $TSLA, $GOOGL etc… $AAPL and $MSFT seem to be doing the heavy lifting today.
Looks like share holders are flipping the bird to the person that downgraded it this morning.
$VIX – WELL THAT DIDN’T LAST VERY LONG
Fuzzy you will love my chart later today….so far :
+300 or so in YM x 20.00 per point
+60 or so in ES x 50.00 per tick
BTC the 12/22 98 puts at 0.77 sold for 1.05
BTC the 12/29 97 outs at 0.71 sold for 1.03
Just needed to free up some margin in this account
Sold $WDC Jul 20 55 put @ 1.30
#SyntheticStock #IRA – More selling…
Bought to Close EWZ DEC 8 2017 41.0 Calls @ .12 (sold for .55)
Sold EWZ DEC 15 2017 39.5 Calls @ .72
$UVXY #CoveredCalls – Sold UVXY Dec 8 2017 18.0 Calls @ 0.27 with the stock at 13.71
$NUGT #ShortPuts – Sold NUGT Dec 15 2017 26.0 Puts @ 0.56.
This was the same account that liquidated all it’s long NUGT stock above 30 just a few days ago.
If assigned I will start selling covered calls (of course)
Got busy with the whole day job thing this morning so just catching up now.
Trades made this morning.
$UVXY BTC Dec 15 $87 calls @ $0.01, sold for $0.32
$UVXY BTC Dec 15 $91 calls @ $0.01, sold for $0.62
$UVXY BTC 25/100 Dec 15 $37 calls @ $0.01, sold for $2.40
$C BTC Dec 8 $70.5 puts @ $0.05, sold for $0.46 on Monday
$DWDP rolled Dec 1 $70.5 #coveredcalls to Dec 15 $71 calls for $0.08 credit.
No trades today, next week is a big expiration, but just closed out Nov. Thanks to your help, I have now broken income records 2 months in a row that have stood since 2015! 🙂 That includes 3-4 losing trades this month and 2 all red days in a row, little rebound for me today although WDC still not behaving so I may LEAP it later today.
Thanks for the ideas and help and I hope I give some of you ideas as well. My previous record was around 15.5k. Oct. was more than that and Nov. is way more than that and the extra benefit is most of that is in tax deferred accounts. So unfortunately no cashing out and going to Hawaii or skiing for 2 months, bummer. 😦
But seriously, could not have done it without everyone’s help on this site. Keep the trades and ideas rolling and together we can rule the galaxy (wait that is the upcoming star wars movie). I had always wanted to create a group of traders that could trade, learn, and profit together but there were not enough traders locally to make it happen. @jeffcp66 beat me to it but good to be here! I think we can keep experimenting with new tactics and underlyings as well, especially with the longer term trades with premium selling short term. I know most everyone on this site is up for a little experimentation!
$UVXY #CoveredCalls – Sold UVXY Dec 8 2017 17.5 Calls @ 0.27 with the stock at 13.61
Very interesting that the $VIX is hitting HOD at the same time the indexes are strong. When was the last time the $SPX was up 28 pts and the $VIX was up like 7%??? People paying up to pay for protection. At some point that will stop and I think we see a vol crush. $VIX screaming higher but /VX not doing much.
$DUST #Covered Calls #Rollup #IRA – Giving this another week and bringing in more #Cash.
Even better than my earlier trade because I added a half point to the strike price.
Bought to close DUST Dec 1 2017 28.0 Calls/Sold DUST Dec 8 2017 28.5 Calls @ 0.30 Credit
The folks at CMLViz (geniuses) have done a big rework of the Squeeze. They use different settings, which I’ve come really close to replicating on charts (change your “length to 12, nk to 1.9”). They also have all new rules for entering trades on bull fires (day one green dot needs to close 1% above last red-dot day or no entry). Using the new settings there is an entry today for an LMT long. See the study link below. This is a way more directional trade than I usually take, and also the first time I’m testing their new entry parameters. I call anything that is long/long a SuperBull (Pete from TT coined it I think). But could also consider it a #RiskReversal.
Dec 15 BuCS 320/322.5 for 1.20 debit
Dec 15 BuPS 315/310 for .87 credit
Target and Stop both at 40%
#ShortStrangles Filled late yesterday. Easing the call side down a little for additional premium…
Rolled WDC Dec 29 2017 92.5 Calls to Dec 29 2017 85.0 Calls @ 1.05 credit
New position is now 82.5/85 Strangles @ 3.55
$VIX $UVXY $SVXY – the VIX index is up a quiet 5% but the Volatility ETFs are virtually flat, not reacting to the move.
Hopefully this will change soon
$FTI #ShortPuts – Bought to close FTI Jan 19 2018 24.0 Puts @ 0.05.
Originally sold in August at 1.30 and 1.40 as a #FallingKnife trade.
#SPXcampaign Closed on GTC orders:
$SPX Dec 4th 2570/2545 put spreads for .25. Sold for 4.00 last week.
$SPX Dec 29th 2375/2350 put spreads for .25. Sold in a #CondorRoll for 3.35 on Oct 25th.
$SPX Dec 1st 2615/2590 put spreads for .40. Sold for 4.80 on Tuesday.
#ContangoETFs Sold to Open $DUST Jan 30 call for 1.50.
$DUST #ShortPuts – Bought to close DUST Jan 19 2018 15.0 Puts @ 0.05. Closed out 2 months early.
Originally sold in Mar at 3.10 and added to at 3.60.
A pretty nice gain in an #IRA.
Anyone have suggestions for the best Twitter feeds to follow for market-moving breaking news?
#SPXcampaign He just signaled he will vote “yes,” so higher we go. My only remaining call spread jumped quickly past my stop.
Stopped $SPX Dec 29th 2595/2720 call spreads for 4.20. Sold for 1.50 2 days ago.
#ReverseRoll Sold Dec 6th 2640/2615 put spreads for 6.50.
Wish I had more long spreads. As of now, I have one and a half positions completely ITM.
Defense is a little like luring in a squirrel to take a nut from your hand. Sudden moves and the plan goes awry. But #Defense usually needs to be done boldly with confidence. Knowing what to do in advance helps with that confidence. Does that sound like conflicting thoughts? Defense is just as much art as skill, and I don’t always get it right. Bruce Marshall says it GREAT…when not done carefully, defense turns your trade into a Three Stooges trade. Perfect picture there. I have #ShortPuts on LRCX and put on some hedges yesterday. I woke up this morning realizing I had overhedged.
I have short Dec 8 210 puts, so you see the trouble I was in yesterday.
I sold Dec 15 200/205 BeCS against my position, in a size that cut deltas too much on my puts. So I rolled back half that hedge this morning (for a loss) just to put the deltas back to where I want them on the long side.
LRCX definitely my problem child right now, but I’m always ready to take assignment and work it through on the other side.
Wonder if there will be a sell off after Tax bill is passed??
I’ve got #ShortPuts on FB (sized for assignment–always), at the time they were delta-19, the 177.5 for .71 cr. With this little upswing I sold a BeCS against those puts to create a #JadeLizard type setup. I sold the Dec 15 182.5/185 for .56 cr. This gives me a new break even of 176.23. I accomplished the following: 1. extended profit range 2. increased max profit 3. flattened deltas 4. added risk to the upside
$KR #ShortPuts – Bought to close 1 KR Jan 19 2018 22.5 Put @ 0.05 with 2 months to go until expiration.
Sold on 06/16/2017 @ 2.45 after a nasty earnings report.
$NBL #CoveredCalls – Sold NBL Dec 15 2017 27.5 Calls @ 0.35 with the stock at 26.50
$VIAB #CoveredCalls – Sold VIAB Dec 29 2017 31.5 Calls @ 0.35 with the stock at 28.50
$KR #CoveredCalls – Sold KR Jul 20 2018 30 Calls @ 1.35 with the stock at 27.25.
Sold $CMG Jan 19 350 call @ 3.00
Sold $WDC Apr 20 65 put @ 1.75. Adding to my put ladder.
$DUST #Covered Calls #Rollout – Giving this another week and bringing in more #Cash
Bought to close DUST Dec 1 2017 28.5 Calls/Sold DUST Dec 8 2017 28.5 Calls @ 0.30 Credit
$VIAB #CoveredCalls – Sold VIAB Jun 15 2018 35.0 Calls @ 1.05 with the stock at 28.64
$KR #CoveredCalls – Sold KR Apr 20 2017 29.0 Calls @ 1.10 with the stock at 27.25.
At the same time Bought to close KR Jan 19 2018 19.0 Puts 0.05.
Originally sold on June at 1.25 and again in Sept at 1.10.
Still short the Apr 19.0 put at 1.50
Yesterday, rough day for me. Saw a drawdown of $39K at the worst (but you don’t know my %). Recovered half that at one point, but it fell back down a little. So the message is…I’m hoping that it makes some folks feel better if their hit wasn’t as bad. If you were in the right stocks, you barely saw a blip, I was definitely overweighted in tech, it’s quite amazing how the accounts fared that were better diversified.
Anyway, the point of this post really, is that these are days of #refinement for traders. How do you develop control-of-self when there’s no testing? Managing violence in the market is an absolute necessity on the road to becoming a successful trader for the decades. There’s no way to gain the experience other than in the storm. No simulations, no shortcuts. So if you took a hit yesterday, and was able to sleep the night and live to trade today, then congratulate yourself. I’ll let y’all know when I’m back to all time highs.
It looks like we are back to normal. Low volatility.
Interesting efficiency changes with portfolio margin vs regular margin accounts.
$SPX BTC 12/1 2650/2625 BECS @ 6.50 STO 10/31 @ 1.85 Still very slow on trigger
$SPX STC 12/1 2615/2630 BUCS @ 11.25 BTO 11/24 @ 2.15 Thank you @ jeff
$SVXY STO 3/16/2018 75 put @ 4.20 Thank you @jeffcp66
$SVXY BTC 1/19/2018 25 put @ .15 STO @ 5.50 1/6/2017
$SQ STO 12/15 38.50 put @ .75
$NTNX STO 12/15 35 puts @ 2.60 Earnings play Thank you @smasty160
$AMZN STO 12/15 1060/1110 BUPS @ 1.05 Thank you @jsd501 Also have order in for the 990/1040 BUPS
$AGN STO 1/19/2018160/170 BUPS @ 2.30
$MZOR STO 12/15 60 puts @ 1.80
$PVH STO 12/15 120/130 BUPS @ 1.20 Earnings Trade (DeBeers inspired at SMM)
Did not have time to post earlier.
BTC the 71.5/72 straddle strangle and STO 23 DTE for 1.21 credit. Originally sold for 2.12 so total credit now 3.33 on stock assigned at 79 (CB 78.06) so now down to 74.73 in 2 weeks. One more roll should be break even but I also opened some 77.5 LEAPs so will be rolling those puts next week. Once I break even may keep going with the straddles as an experiment. LEAPS expire Jan 2019 and I can hold the stock for the dividends and sell call side and the puts against the leaps.
Looks like by selling an ATM or close to the money straddle can bring in 2-4 credit each week on most stocks going out 1-4 weeks and may result in quicker profitability than just converting to CC. Will see over time how it works.
The LEAPS only cost 12.26 so should be able to cover those in about 12 weeks.
has anyone tried doing a ditm call spread like 5 dollar wide like qqq and
say a 145/150, debit 4.00 ish and let it go to expiration and assigned on both.
and your profit would be difference between fees and 5.00 spread?
Promised Daddy for two weeks I’d get him shares for the $2.00 dividend tomorrow. It kept running away from me though! But Dad loves free things. Free Big Macs when the Broncos win (yeah, been awhile), free ipads from TD Ameritrade (despite that he’s too old to use them), and perceived free money that are dividends. Had to cave.
200 Shares at $320.45, Sold Dec 22 325 calls for 1.45
This is a @fuzzballl trade, kind of. #Diagonal using #syntheticstock
BTO Feb 65 Call, STO Feb 65 (net .35 cr), STO Dec 66 call 1.32 cr
BE 63.44, Max profit $2600
Will watch for opp to add some put protection in Feb
Bought to close $AAOI Dec 15 30 puts @ .05. Sold for 1.60 on 9/25.
Very strange market today. The $IYT is trading like they are hauling bitcoin, retailers are acting like they are selling bitcoin in the stores, the banks are apparently converting all of their deposits into bitcoin and $/NQ is flailing like a scuba diver 110 pts below the surface stuck under a rock with an empty air tank.
I don’t know why we got volatility in the tech sector but I sure am happy we did. I am going to guess Net Neutrality but have no clue.
#SXPcampaign Closed $SPX Dec 29th 2655/2680 call spread for 6.70. Sold in a #CondorRoll for 3.35 on Oct 25th.
This is my final SPX call spread that has hit stop levels (in this case, gone past it). I’m waiting to roll this as my put spread load is big. Another nice push higher and I can begin selling calls again. Only call spread left is the one I sold yesterday, Dec 29th 2695/2720.
btc Jan 19, 37 put for 4.15 had sold for 4.60.
taking a little on moving on,had on for about 2-3 weeks
$TAP #ShortPuts #FallingKnife – Sold 1 TAP Jul 20 2018 65.0 Put @ 1.55 with the stock at 77.0.
Sold Jan. 19, 38 put for 1.00 thanks #tabortrader
$ADSK #ShortPuts #FallingKnife – Sold 1 ADSK Jul 20 2018 70.0 Put @ 1.58 with the stock at 106.50.
Breakeven right near the 1-year low. And the lowest available strike.
Big change in strategy here with much lower risk. Moving #PerpetualRollingStrangles over to a Whiz #SyntheticStock out in 2020. Same amount of margin required and taking away the naked risk of the strangles. This should also be a nice hedge in a market meltdown if everyone runs for safety.
Sell to Open GLD JAN 17 2020 122.0 Puts @ 7.65
Buy to Open GLD JAN 17 2020 122.0 Calls @ 12.45
Disaster puts fairly tight:
Bought to Open GLD JAN 17 2020 120.0 Puts @ 6.85
This gives a net debit of 11.65 for the Jan 2020 position. Add the 2 point max downside and get a max loss of 13.65. I did have to close my current strangles at a small loss too:
Bought to Close GLD DEC 15 2017 125.0/118.0 Inverted Strangles @ 7.30 debit (sold for 4.20)…
That’s a loss of 3.10 but at half size of the new position so I’ll add 1.55 to my basis in the new position. This will also allow me to officially book the $6100 in realized premium that the strangles have brought in over the last year or so.
With 111 weeks remaining in the trade and a max loss of 15.20 I’ll only need to sell about 13.5 cents a week to cover the max loss worse case scenario.
Sold GLD DEC 8 2017 123.5 Calls @ .28
PS…yes I could’ve just bought the LEAP calls and sold against them but I like to have the possibility of booking some profit on my hedge and maybe adding to the long position at some point.
WDAY, STO June 70 put @1.55
LRCX, STO Dec. 15, 175 put @1.40
TQQQ, STO March 75 puts @1.30
LRCX, STO January 18, 160 put @1.70
NDX: Rolled BeCS from 6460/70 to 6360/70, took profit, reset for delta control against BuPS
PYPL: Covered short calls (Covered Call) and reset on upswing
MOMO: Closed defended earnings trade for net $97.00 profit, used #Inversion defense
ALGN: Added a BeCS to my BuPS for delta management
BA: Bruce Marshall did a class last night at ST, I bought the #Butterfly setup from the class, it’s a directional Butterfly: Jan 18 265/275/285 10×20 for 2.55 debit, target 3.06
NVDA: Fuzzball reminded me to get an NVDA position open, put on a #JadeLizard Dec 15 short 185 put, short 205 call, long 207.5 call for net credit of 3.23, up nicely now, target cover 1.62.
KORS: This started as a post-earnings Iron Condor with good backtest history, but it has gone through SO much defense. Very happy to take it off today. I show a profit after many adjustments, but I don’t quite trust that I have the right baseline number.
SPX: I closed 3 of 4 #Bitty for a +$50 scratch. I added a BeCS to the 4th 2650/2655 for 1.45 cr for delta management.
I know these posts are lacking proper detail, but it’s been a very challenging day for me, trying to get the cows back into the corral!
STO January 18, 90 put @ 1.30 with stock at 107.83
STO March 16, 80 put @ 1.39
could you run and post a view only on svxy from your cmlviz.com?
On put spreads with the delta calc you showed on spx.
After the bounce showed some life. Expires friday.
STO Dec 1 $170 puts @ $0.56
STO March 140 put @ 1.65 on 1 contract with the stock at 195.25