$BABA BTC 12/15 195/190 BECS @ Breakeven
Monthly Archives: November 2017
yesterday sold PCLN 1715/1710 .25…
yesterday sold PCLN 1715/1710 .25 today added 1790/1792.5 .30 both side well out side MM move
SVXY UVXY VXX
#GroundhogDay … 🙂
MOMO Earnings
I do a lot of earnings event trades using a very specific analysis process. I did a short #ratio-strangle yesterday, sold 3×1 dec 1 34 calls/28.5 puts. Closed the calls at the open for 89% profit. The lower break even was blown this morning so I sold inverted calls as defense. Extended downside range by another .95, upside range is wide due to taking the short call profit.
AAOI
These are trading just like stock at this point so just rolling for a credit to continue basis reduction. This is about the right time to roll to maintain max daily theta for something this DITM…
Rolled AAOI DEC 15 2017 80.0 Puts to JAN 19 2018 80.0 Puts @ 1.00 credit
REGN
#CoveredCalls – Guess I’ll keep selling all the way to zero… 🙂
Bought to Close REGN DEC 1 2017 392.5 Call @ .20 (sold for 4.70)
Sold REGN DEC 15 2017 380.0 Call @ 5.45
STMP stock
#Earnings #EarlyAssignment #LongStock
I was assigned on all $STMP Dec 1st 200/180 put spreads, so now I only carry long stock. I just sold the last long put for 4.00. With all the selling of naked options, put spreads, and finally the long puts left after short puts in the spreads were assigned, my cost basis is 179.62. About where we’re trading now. I’ll start peeling this off before it returns to 200.
Good Morning
Good Morning
SPX puts closed
#SPXcampaign Closed on GTC order: $SPX Nov 29th 2585/2560 put spreads for .40. Sold for 10.15 on Nov 15th.
Pre-market puts closed
#SPXcampaign In pre-market, closed $SPX Dec 14th 2450/2425 put spreads for .30. Sold for 1.55 on Nov 14th.
Expiration / Roll FB / Short Puts SQ
Running late lately. Sorry about posting so late. Life happens.
#optionsexpiration
$SPX 2560/2585 BUPS Thank you @jeffcp66
#rolling
$FB STC 12/8 180 call BTO 12/22 185 call for 1.75 credit.
#shortputs
$SQ STO 1/19/2018 35/40 BUPS @ .75 That’s what I get for placing orders night before
YM Trades Today
Hey everyone, I’ve enjoyed reading…
Hey everyone, I’ve enjoyed reading everyone’s posts, and wanted to thank Jeff for inviting me to be a contributor. I’m Sue (AxeCap-Sue at Simpler Trading), live in Colorado, been trading for 38 years. I’ve been a full time options trader for 20 years. You can count on me to be completely transparent with my trades; totally honest on fills, wins, losses. My core skills are income trading, complex setups, defense, earnings events, and CMLViz (backtesting). Here’s my contribution for you: #Bitties. Anyone whose been hanging out at ST has heard over and over again about Bitties. Here’s the bitty story that I wrote recently for the ST Forum:
In May 2017 CMLViz was delivered to many of us in Simpler Options. Everyone started racing to find the high-return plays, 600%, 800% 1000%. A few of us though took the opposite route and began searching for the high win-rates. Trades that win over 90% of the time, with lather-rinse-repeat characteristics. EVERYONE (including me) was skeptical about these trades because the risk/reward is upside down. A LOT of risk for little reward.
It turns out that 25 Delta, either naked put or as the short anchor of a put spread, is a real sweet spot for these high win-rate trades. I call the 25-delta my “Jeep Wrangler” of deltas, because it can get very smacked around, up hills, down hills, stuck in ruts, and usually can always land on its tires.
I started doing the trades (all naked puts or put credit spreads) on SPY, LMT, MSFT, FB, QQQ, IWM, SPX, NDX in May—not sure at all how this little experiment would work out (because like most of you, risk:reward has been pounded into my head). I always size trades for risk and assignment assumptions, so the trades (with high risk) remained small. After a few days the close orders started hitting, for $150.00, $170.00, $300.00 profit, over and over and over. That’s how they got the name “Bitties”…because the profits are “Bitty”….but it’s like picking up money off the sidewalk. Within just a few weeks the profits (in multiple accounts) were adding up into the thousands, with close orders hitting every couple days.
Flash forward to November 2017, I’d like to say I have not had a single loser or assignment since starting this in May, that is almost true. 2 weeks ago I closed an LMT put spread early for a $170 loss (that is the only loss I’ve taken on Bitties since starting). Profits in just the above-mentioned tickers will hit $100K this year Not quite all of that is Bitties, but Bitties are definitely the majority.
Bitty strategy is fluid and always evolving. Those of us doing Bitties are always looking for ways to limit risk, gain more profit, foresee vulnerabilities, dial in time frames and profit targets.
I’ve found the sweet spot for Bitty expirations are 20DTE. Short timeframes provide more events/year with accompanying payoff. Although even tighter timeframes (19-7 DTE) test out well historically, they really don’t provide enough range to absorb normal market volatility.
In the past my favorite bitty was naked SPY puts, 20DTE, 25 Delta, with a mutli-year 98% win rate (at an 80% cover). With the end of the year here though, a great trading year in my book, I’m definitely focusing more on spreads for risk protection. The SPX $5-wide spreads give a really nice risk reward setup for a #Bitty, much better than SPY (roughly double the premium for the half the risk in SPY (25/5 spread), with no assignment/div risk).
As of right now the SPX 25/23 delta put spread, 20DTE, 50% cover, no stop, is backtesting at a 97.1% win rate over 3 years. A 25/23 is such to capture a $5-wide spread in the backtester.
One last thing everyone always asks….what about when the market rolls over. For me, that’s easy, the bitties flip to #Jade Lizards (or skewed iron condors) with additional premium collected on both sides of the trade: higher premium on the put side and the call credit spread kicker extend the downside range. The Jade Lizards are modified for risk using a 25/5 delta put spread coupled with a 35/30 delta call spread.
The Bitty trades I have on right now:
NDX Dec 8 (only way to get a $5-wide), 6330/6325 .80 cr placed today 11/27/17
SPX Dec 8 2570/2565 .70 cr, getting close to target, trade is in multiple accounts
SPX Dec 11 2565/2560 .70 cr, getting close to target, trade is in multiple accounts
Listen I totally get it if you don’t understand the rationale behind these risk:reward setups. I was there too. But I will just point to the win rate and say….it’s been an awesome year. I’ll keep reporting on Bitty trades here, but wanted to give some thorough background about them in the first post.
Sue
AAOI
#ShortStrangles – The grind continues…
Bought to Close AAOI DEC 1 2017 44.0 Calls @ .10 (sold for 1.15)
Sold AAOI DEC 15 2017 42.5 Calls @ 1.15
#ShortPuts SVXY Sold to open…
#ShortPuts SVXY Sold to open Dec 15th 100 Puts @ 1.40 with SVXY @ 114.16. Meant to save the order in ToS but hit the send button and was filled immediately. No chance to correct. Rats.
$SQ #fallingknife candidate in the…
$SQ #fallingknife candidate in the making
Major drop today, look for opportunities to sell puts
Another experiment/idea?
What do you guys think about tweaking LEAPs to a modified covered straddle? In other words using WDC as example at current prices, buy at leaps call either ITM or close to money, then sell weekly/monthly straddles against it. You could also buy an OTM put leap as disaster insurance. Similar to our synthetic long/shorts but the advantage by selling a straddle or strangle each week is that you bring in a lot more premium, double in most cases but on individual names I don’t like selling calls naked. Burned on HNZ a few years ago on a strangle.
For WDC example BTO 85 2020 call. STO 12/8 87 call. STO 12/8 85 put. Could put it on for about 15.62 at current prices. On a 10 lot break evens of 84.2 and 93.61 with 11 day profit of 2554 max.
Adding a 75 2020 put would add 12.30 or so and narrow the break evens and lower max profit to 1321 but limits downside risk to 10 points. With 781 DTE that would give potentially 111 weeks to sell straddles. Figure 25% would need adjustment but still a killer return. Figure $3-4 premium each week with ATM options could cover the entire trade in about 3-5 weeks if, and a big if everything stays in a tight range.
The reason I am thinking about this is I accidentally did this with GILD and selling straddles/strangles has really improved my recovery on a trade gone wrong. Going out 2-4 weeks I can sell an ATM straddle for about 4. I was assigned at 79, cost basis was 78.1 and change. 2 weeks of selling straddles I am almost at break even with GILD at 71.55 and have some long LEAPS puts at 77.5. So effectively covered on both sides and can sell the crap out of weekly options to both sides without having to tap into too much margin.
Thoughts, comments? Anyone else doing this or tried it?
SPX trades
#SPXcampaign Sold to Open $SPX Dec 29th 2500/2475 put spreads for 1.45.
Bought to Open Dec 8th 2620/2640 call spreads for 3.50.
#optionladder STO SWKS 39 DTE…
STO SWKS 39 DTE 102 put at 1.35 at the open, should have waited better prices now.
$SEE #ShortPuts – Bought to…
$SEE #ShortPuts – Bought to close 1 SEE Jan 19 2018 37.0 Put @ 0.05.
It won’t trade any lower.
Originally sold in May at 1.25 as a #FallingKnife trade.
$SVXY
A couple of small short term trades just in case the we don’t get a pull back near term. Upside warning is telling me a pull back of any size is not likely in the next couple of weeks.
STO Dec 8 $90 puts @ $0.50
STO Dec 15 $80 puts @ $0.37
#VXX Game #ShortPuts Trying to…
#VXX Game #ShortPuts Trying to induce a pull back. Sold to open Dec 15th 100 Puts @ 1.50 when SVXY was at 114.42.
$SVXY #shortputs buy to close…
$SVXY #shortputs
buy to close Dec 08 $100 puts for $2.00, sold 11/22 for $2.90
$UVXY #shortstock buy to cover…
$UVXY #shortstock
buy to cover UVXY at $13.10, sold 11/3 for $14 (call exercised). My indicators show negative divergence on SP-500, we’ll see but taking protective action.
edit: call not put
Morning all I Rolled my…
Morning all I Rolled my Dec 15th 30 Puts up to Dec 15th 40 for a 1.95 credit when ROKU was at 43.83. The 30’s were trading at .20, originally sold for 1.25 on 11/16.
WDC
#ShortStrangles – Some sort of a downgrade so getting a nice dip here…
Sold WDC DEC 29 2017 82.5/92.5 Strangles @ 2.50
TQQQ
I unwound my TQQQ WIZ trade for a nice profit. I am a little nervous as usual. The trade was put on for a debit of 51.32 and the weekly calls reduced the cost basis to 48.12, and my credit today was 54.50 so a profit of 6.38, I got tired of trying to roll the weekly calls for a profit.
BTC TQQQ 2019 80 put
STC TQQQ 2019 80 call
BTC TQQQ Dec. 1, 137 call
$LB #ShortPuts – Bought to…
$LB #ShortPuts – Bought to close LB Jan 19 2018 32.5 Puts @ 0.05. They won’t trade any lower and don’t expire until next year.
Originally sold on 08/15/2017 at 1.35 as a #FallingKnife trade and then added to the position on 08/17/2017 at 2.10.
SPX trades
#SPXcampaign Closed $SPX Nov 27th 2490/2465 put spread for .20. Sold for 2.00 on Wednesday.
Stopped SPX Dec 14th 2635/2660 call spreads for 3.35. Sold for 1.90 on Nov 14th.
#ReverseRoll Sold Dec 8th 2585/2555 put spreads for 4.00. (I meant to do 25-wide, but mistakenly sold 30-wide).
ISRG
#ShortStrangles – Currently short a Dec 8th 360/420 @ 4.30. Rolling the put side out another week and up to the 50ma for a little more credit.
Rolled ISRG DEC 8 2017 360.0 Put to DEC 15 2017 380.0 Put @ 1.00 credit
$C
At the open, STO $C Dec 8 $70.5 puts @ $0.46
Econ Calendar for week of 11/27/17
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated.
NOTE: November JOBS report will be released on Friday, December 8th.
Notable Earnings AMC Fri (Last Week)/BMO Mon:
TOUR
http://bit.ly/2hTnpCE
Notable Earnings AMC Mon/BMO Tues:
BNS, GSM, MOMO, NOMD, TECD, THO
Notable Earnings AMC Tues/BMO Wed:
ADSK, ATKR, BV, GSUM, HTHT, MRVL, NUAN, PLAB, PSTG, RY, TIF, WAIR
Notable Earnings AMC Wed/BMO Thurs:
BKS, BOX, CM, DCI, EXPR, GWRE, JACK, KR, LZB, MIK, MNR, PNNT, PVH, SMTC, SNPS, TD, WDAY
Notable Earnings AMC Thurs/BMO Fri:
AMBA, BIG, FIVE, GCO, NTNX, ULTA, VMW, YEXT, ZUMZ
Good morning
Upside Warning in effect
#VIXIndicator. Once again, the dip was quickly bought and a new Upside Warning went into effect on Friday. The VIX also notched an all-time low; if the CBOE does not correct it as a glitch. The VIX was wavering around 9.60 on Friday at the closing bell, and then briefly dipped down to tag 8.56, which is it’s lowest reading ever. It quickly jumped back to close at 9.67. So it may have been a bad tick, but if not corrected it is the new record low.
An Upside Warning is a reliable signal of a rally higher. Since Jan 1, 2000 (HOD=high of day)
31 upside warnings
25 times the HOD on 5th day was above the close of the Warning day
21 times the HOD on the 10th day was above the close of the Warning day
21 times the HOD was over 1% higher on any day within the first 10 days after the Warning
18 times the HOD was over 2% higher on any day within the first 20 days after the Warning
Looking at the highs of the day from all 31 occurrences, here are the expected moves UP from the close on Friday (2602.42).
Mon, Nov 27 0.44% 2,613.87
Tue, Nov 28 0.46% 2,614.42
Wed, Nov 29 0.48% 2,614.85
Thu, Nov 30 0.46% 2,614.29
Fri, Dec 1 0.59% 2,617.71
Sat, Dec 2 0.56% 2,616.98
Sun, Dec 3 0.77% 2,622.40
Mon, Dec 4 0.92% 2,626.44
Tue, Dec 5 0.89% 2,625.65
Wed, Dec 6 1.02% 2,628.99
These are averages, so the actual move will tend to be sharper or more gradual.
$HES #ShortPuts – Bought to…
$HES #ShortPuts – Bought to close 1 HES Jan 19 2018 30.0 Put @ 0.01. It won’t trade any lower.
Originally sold on 06/21/2017 @ 1.22 as a #FallingKnife trade
#OptionsExpiration #Weeklys #Nov24 – a…
#OptionsExpiration #Weeklys #Nov24 – a very small one today. Next big one is Dec 15th.
–Expirations —
FOSL (Weekly) Nov 24 2017 8 Calls (Covered)
UAA (Weekly) Nov 24 2017 12 Puts
UVXY (Weekly) Nov 24 2017 27 Calls (Covered)
No expirations today
But I did execute a few rollouts:
Rolled $AAOI Nov 24 75 puts out to Dec 15 75 puts @ 1.13 credit
Rolled $AMZN Dec 22 1160 call (covered) up and out to Jan 19 1180 call @ 3.03 credit
Rolled $AMZN Jan 5 1165 call (covered) up and out to Feb 1220 call @ 5.34 credit
I had a meaningful Thanksgiving. I hope you all did as well. Have a great rest of your weekend.
VIX all-time low?
Right after the bell the VIX notched 8.56, and then jumped back up immediately. Not sure what causes that, and unless they retract it as a bad tick, it’s a new all-time low.
Option expirations
SVXY 60 puts
WDAY 100put
OptionsExpiration
EA $105 puts
SVXY $50 puts
SVXY $80 puts
SVXY $85 puts
UVXY $24 calls
UVXY $25 calls
UVXY $39 calls
Other trades today
STO $EA Dec 15 $101 puts @ $0.60 (replacing expiring puts)
Rolled $RCL Nov 24 $124 #coveredcalls to Dec 15 $128 calls for $0.35 credit
Expirations
$SPX 2425/2450 BUPS
$SPX 2505/2550 BUPS Thank you @jeffcp66
$DLTR 92 put Earnings Trade
$SQ 46 put
Have a relaxing weekend
SPX puts closed
#SPXcampaign To lessen the pressure if we do pullback Monday, and to take nice profits:
Closed $SPX Dec 1st 2570/2545 put spreads for .75. Sold for 6.50 on Nov 14th.
No expirations today… have a great weekend all!
$MUR #ShortPuts – Bought to…
$MUR #ShortPuts – Bought to close 1 MUR Jan 19 2018 20.0 Put @ 0.05. It won’t trade any lower and doesn’t expire until next year.
Originally sold in May at 1.40 as a #FallingKnife trade.
Post Earnings Trade / Rolling SQ (can a square roll?) / Closing Early
#earnings Post earnings
$GME BTO 12/1 18 calls @ .29
Rolled #shortcalls
$SQ BTC 11/24 46 calls STO 12/15 50 calls @ .50 debit. Still up 1.10 credit and went up $4 in strike
Closed Early
$BIDU BTC 12/15 270/260 BECS @ 3% profit. Still holding 210/220 BUPS
$SPX BTC 12/8 2485/2510 BUPS @ 84% profit on GTC order I did not watch Thank you @jeffcp66
$CVS BTC 12/15 55/65 BUPS @ 73% profit
More SPX
#SPXcampaign On the small pullback:
Closed $SPX Dec 4th 2575/2600 call spreads for 19.55. Sold for 14.00 last week.
Bought to open SPX Dec 1st 2615/2630 LONG call spreads for 2.25
SPX trades
#SPXcampaign Upside Warning looks imminent. Getting long.
Closed on GTC order: $SPX Dec 8th 2480/2455 put spreads for .20. Sold for 1.44 on Nov 10th.
Closed Dec 1st 2565/2590 call spreads for 22.15. Sold for 15.60 last week. Waiting to roll.
Working on buying some short term call spreads. Also rolling one of these recently closed ITM call spreads into an #IronButterfly or #InverseCondor.
$UVXY #shortstock buy to close…
$UVXY #shortstock
buy to close half position at $13.10, put to me at $14, sold few weeks of covered puts net additional $1.83, not bad!
SVXY
#ShortCalls #Rolling – Rolling out and up…sticking this one above a reverse roll I did earlier to a 120/105 BuPS.
Rolled SVXY JAN 19 2018 120.0 Call to MAR 16 2018 135.0 Call @ .52 credit
TLT
#PerpetualRollingStrangles – Getting this one out of the line of fire of a possible early exercise for the dividend. Still sitting on the Dec 123 calls and 127 ,130 puts.
Rolled TLT DEC 15 2017 121.0 Calls to JAN 19 2018 121.0 Calls @ .05 credit
$SIG #ShortPuts #FallingKnife – Sold…
$SIG #ShortPuts #FallingKnife – Sold 1 SIG APR 20 2018 40.0 Put @ 2.50
Also Sold 1 SIG APR 20 2018 35.0 Put @ 1.40
SPX calls sold
#SPXcampaign Sold to Open $SPX Dec 22nd 2655/2680 call spreads for 1.60.
VIX is up today while SPX is also up. This has not been too unusual in the last year of soaring indices. If we can stay below 10.17 today, it will mean Upside Warning. That said, I feel comfortable with this distance OTM, as it will be easy to roll should the rally be strong.
$SVXY #shortputs #shortstock Buy to…
$SVXY #shortputs #shortstock
Buy to cover half my SVXY 114.07, shorted 102.10!
Stubborn isn’t working yet again.
Buy to cover Dec 01 $105 put for 0.53, sold for 0.90 keeping equal to short ETF.
FB covered call
#LongStock #CoveredCalls
Sold $FB Dec 15th 185 call for 1.53
STMP
#CoveredCalls – Hanging on to it a couple more weeks but keeping some downside cushion. Staying ITM with the roll…
Rolled STMP NOV 24 2017 172.5 Call to DEC 8 2017 172.5 Call @ 2.54 credit
New SPX all-time high
Also highest TICK reading sine early Sept.
SVXY new all-time high
VXX and UVXY all-time lows
$BBBY #CoveredCalls – Sold BBBY…
$BBBY #CoveredCalls – Sold BBBY Dec 29 2017 23.5 Calls @ 0.54 with the stock at 21.44
SVXY “Triple R” Repair Roll Reversal
Via special request, I’m delving into the nuts and bolts of the reverse roll repair strategy. It seems to work for any ticker but I tend to use it more often with SVXY with it’s unrelenting climb. I originally got this idea from some stuff Jeff was doing and also seeing Suz over at OMM use it as a low risk directional play on a stock.
Here we go….
My original trade was:
Sold 1 SVXY JAN 19 2018 120.0 Call @ 3.20
From the second I clicked the mouse button SVXY has pretty much gone straight up. This position is still out of the money but starting to take some heat. When the option gets near doubling the amount of premium I received I start looking at repair or adjust scenarios. Originally sold for 3.20 and currently going for 6.00 so getting close. So, what can I do? Well…lots of things:
1. Sit on my hands and hope
1a. Sit on my hands longer and hope for a black swan to fly by
2. Close for a small loss
3. Roll out and up (I like this choice too)
4. Reverse roll into 1 or more naked puts (I personally don’t add any contracts since I’m a big believer in position size control)
5. Reverse roll into a put spread (IMHO this is the safest)
**** on a side note, small position size it what allows me to make these adjustments. I’d rather have 50 single lots spread around among 50 tickers vs a single 50 lot on one ticker ****
For this example, I’m going to use choice number 5 on the list. You have to play with the numbers and decide what works best for you. I tend to look out about 3 or 4 months and try to sell something that’s around at the money. In this case, March 120/105 BuPS works but you could go more aggressive with the 130/115 for more credit. I’ll use the 120/105 in this example…
Buy to close Jan 120 call @ 6.00
Sell to open Mar 120/105 BuPS @ 6.70
Since the original call sale brought in 3.20 I’ll add that to the .70 credit for the roll for a new total premium of 3.90.
Ok…now what? How does this eventually play out on down the road? Glad you asked! Here’s some scenarios:
1. SVXY continues it’s relentless climb and our reversal goes on to be a glorious 3.90 winner.
Or: (worse case scenario which I ALWAYS look at)
2. We wake up the morning of March expiration and we’re standing in the middle of massive carnage with SVXY trading at 20 bucks. What do we do?
The spread is sitting at max loss of 11.10 (15 wide minus 3.90 received). Late in the day I’m going to sell to close the long 105 put at whatever it’s worth. I will let the short 120 put get exercised. When the dust settles my basis in the stock I received should be in the ballpark of 31 dollars. That is the current stock price plus the loss on the spread. No matter how low SVXY goes we should get the stock at a basis no worse than about 11 dollars above where it happens to be trading thanks to the spread (and if it goes to zero we’ve minimized the damage). We can then begin selling covered calls from a small hole instead of a deep crater.
Let’s say we would have chosen option 4 above in our repair choices. We could have bought the 120 call back at 6.00 and sold a March 85 put for 6.50. Net credit of 3.70 now on the 85 put. (3.20 original call sale plus .50 credit roll). Then we wake up in March with SVXY at 20 and we own stock at a basis of 81.30…ouch. A much much deeper hole to begin recovery than the 31 basis of the spread strategy.
Hopefully this fully explains my thinking on these. Any comments, critiques, or suggestions…feel free. I’m pretty thick skinned…LOL
Happy Turkey Day everyone!
$MYL #CoveredCalls – avoiding assignment,…
$MYL #CoveredCalls – avoiding assignment, moving up my exit point on this stock and taking a gain on the existing calls.
Bought to close MYL Nov 24 2017 35.5 Calls/Sold MYL Dec 15 2017 36.0 Calls @ 0.10 Credit
Expirations
$SPX 2445/2470 BUPS Thank you @jeffcp66
$SPX 2480/2500 BUPS Thank you @jdietz1954
And thanks again to all of you.
Happy Thanksgiving to all…
Happy Thanksgiving to all…
Happy Thanksgiving fellows
Happy Thanksgiving fellows
Happy Thanksgiving To All
#Healthy and Happy Thanksgiving
So wonderful to be part of a group of intelligent helpful people. Thank you all for sharing, and I share with you my warmest Thanksgiving thoughts.
We are family.
Have a restful refreshing time off.
UVXY VXX synthetic short
#SyntheticShortStock – I know when something is rallying hard I like to roll the synthetic up for nice credit and to lock in some gain. What about doing the same thing on a short position. Thinking maybe rolling UVXY short down a little. Just now looking at the numbers so all a wild guess at this point…
EWZ
#SyntheticStock #IRA – Rolling front month up and out a little…picking up another 1.10 of upside.
Rolled EWZ NOV 24 2017 40.0 Calls to DEC 8 2017 41.0 Calls @ .10 credit.
$PXD #ShortPuts – Bought to…
$PXD #ShortPuts – Bought to close PXD Jan 19 2018 95.0 Puts @ 0.05. They won’t trade any lower and don’t expire until next year.
Originally sold on 06/20 at 1.15 and again on 08/03 at 1.25 as #FallingKnife trades.
AMZN covered call roll
Rolled $AMZN Dec 15 1150 call up and out to Jan 5 (weekly) 1165 call for 2.99 credit. Continuing to roll for credits but now if I get called away the gain gets pushed into next year.
SPX puts sold
#SPXcampaign Tried to catch the lows but ended up chasing back up.
Sold $SPX Nov 27th 2590/2565 put spreads for 2.00. Expires Monday.
Sold Dec 22nd 2510/2485 for 1.45.
Also, yesterday, closed Nov 29th 2565/2590 call spreads for 21.75. Sold for 13.50 on Nov 15th. Waiting for bigger swings to sell this roll.
SQ Short Strangle / Short Puts / Closed Early
#shortstraddle
$SQ STO 11/24 46 for 2.00 Call is covered.
#shortputs
$NFLX STO 12/08 190/195 BUPS @ 1.60
$FB STO 1/19 165/175 BUPS @ 2.00
$PYPL STO 12/15 70/75 BUPS @ .70
Closed Early
$GILD BTC 12/15 57.5/62.5 BUPS @ 15% profit
$SVXY #shortputs sold Dec 08…
$SVXY #shortputs
sold Dec 08 $110 put for $2.90 on pullback to 113.47.
Rolling SVXY
Another roll on the helium ETF.
$SVXY Jan 19 112.50 calls out to Mar 16 123 calls for 1.11 credit.
FYI for those trading today…
FYI for those trading today looks like the CBOE released the next weekly cycle a day early but volume is really low on them right now.
STO SWKS 37 DTE 104 puts at 1.55. Starting new #optionladder
Have a great Thanksgiving! I am done for the week unless good volatility on Friday.
Earnings & Stock positions this week
#Earnings #LongStock #Rolling #CoveredCalls
$RH #ShortStrangles Dumped my final Dec 1st short 95 call for 8.50, and 80 puts for .10. Then the stock annoyingly dropped, after I’d closed the whole batch for high prices. I gotta ways to go to make up for it. I’m keeping new sales at the Dec 1st expiration, before earnings:
Sold 100 put for 3.50, adding to position
Sold 95 put for 2.65, adding to position
Sold 105 call for 2.95
$FB BTC Dec 1st 187.5 call for .12. Sold for 1.25 on 11/3. I’ll sell a new one on next rally.
$LITE Sold a fourth of my stock for 58.20. Cost basis 60.50. Looks to be recovering so will wait on the rest, with stops in place.
$STMP Assigned another 100 shares last night, disrupting my Dec 1st 200/180 put spread. Will sell the long put today. This leaves me with one remaining put spread and 200 shares.
$HCA This stock was sold for 75.29.by my broker on Friday afternoon due to margin concerns (futzing with SPX spreads). Not thrilled about this, but it has been an annoying one. An 80 covered call also expired Friday, so I’m now flat. Cost basis was 84.00 so that was a crappy loss.
$NUGT #CoveredCalls – Bought back…
$NUGT #CoveredCalls – Bought back my NUGT Nov 24 31.0 Calls at 0.09 and sold my long stock at 30.23 to exit this position.
I’ve written several weeks worth of covered calls against this stock since it was put to me at 30.
Going back to 100% cash in this account
$DKS #ShortPuts – Bought to…
$DKS #ShortPuts – Bought to close 1 DKS Dec 15 2017 24.0 Put @ 0.05. It won’t trade any lower.
Originally sold on 08/18/2017 at 1.30 as a #FallingKnife trade.
Options Bistro 