ROKU Sold Dec 15th 30 Puts for 1.25 when ROKU was at 41.11. A little (a lot) early on this. Should have waited but really liked the premium. Will a 27% pull back end up biting me? Theta will tell.
Monthly Archives: November 2017
House Passes Tax Bill
House Passes Tax Bill
ROKU
#ShortStrangles – First time in this one. Following @Bridget over at OMM ( 🙂 🙂 🙂 ). She has an iron condor pretty narrow…30/35/45/50. I’m going regular strangle with more room to the upside. Great premium and low margin in this one.
Sold ROKU DEC 15 2017 35.0/60.0 Strangles @ 3.19
Afternoon all
SPX #SPCcampaign Closed my Nov 22th 2500/2485 BuPS @ .20 off a GTC order when SPX hit 2584.71. Quite a reversal from yesterdays dip.
$ANF $FL – #Earnings #OneDayWonders…
$ANF $FL – #Earnings #OneDayWonders –
Sold ANF Nov 17 2017 11.0 Puts @ 0.23 with the stock at 12.74
Sold FL Nov 17 2017 26.0 Puts @ 0.25 with the stock at 31.91
NH-NL historical data
I’m intrigued by what @geewhiz112 and @las9427 mentioned about the New-High/New-Low indicator when I said I was suspending my Downside Warnings for assessment. I have found someone offering data going back to 1980 for a fee (McClellan), but I first wanted to check with y’all to see if anyone has access to the data. I would want back at least to 2001. Let me know if any ideas. Thanks!
Rolling NFLX
#coveredcalls
$NFLX BTC 11/17 197.50 calls to 11/24 200 calls for .20 added credit plus up 2.50 if stock called away.
Closing Another
I’m sure I will be too early again, but this feels better.
#spxcampaign
$SPX BTC 11/24 2545/2565 BUPS @ .80 STO 11/9 @ 3.10 (74% of full profit)
ROST Short Short Puts
Not sure why, but here goes Earnings tonight. Hope they do as well as $WMT
#shortputs
$ROST STO 11/17 65 puts @ 1.70
SPX calls stopped
#SPXcampaign Stopped $SPX Nov 17th 2590/2615 call spreads for 3.65. Sold for 2.50 on Tuesday. Although I closed many call spreads yesterday, I thought I could let this one expire. Not so. Will look to roll by day’s end. I don’t want to do anything too early as we’re back in freight train mode again.
$NWL Adding
Sold $NWL Jun 15 2018 23 put @ 1.35.
Put ladder is now:
Mar 26
Jun 25
Jun 23
AMZN
#SyntheticStock – Would’ve got a better fill yesterday but got greedy. Sure didn’t expect this move today but I’ll take it. Rolling up the synthetic position. Leaving the disaster put alone until we see some sort of a top.
Rolled AMZN JUN 21 2019 1000.0 Strike Synthetic Stock to JUN 21 2019 1050.0 Strike @ 48.25 credit
STMP assigned
#Earnings #Rolling #Assignment #LongStock
Before I had a chance to roll my $STMP Nov 17th 200/185 ITM put spreads, I was assigned 100 shares at 200.00. I sold the corresponding long put today for 9.35, so cost basis 190.65. Working on a roll of the rest as well as a covered call.
$ANF $FL – possible earnings…
$ANF $FL – possible earnings plays
Expiration early
A lot of WDC shares will be assigned tomorrow at 84-86 strikes, that will free up a lot of cash for next week. I am trading a chunk of my account as trading reserve perpetual income engine style. Basically take 3 names each week and sell weekly calls or puts with the expectation of being assigned and then roll and repeat. I held these for a while because the premiums leading up to earnings was great but now so far ITM better to let them call out and start over. The current tickers I am doing this with are EOG, WDC, and XBI but I switched to GILD. Should have stuck with XBI. GILD now #longputdiagonals. Works best with names that stay in a range with good weekly premium. I will also use SWKS, EXPE, AAL, FSLR, GS, TMUS, VLO, ANDV (used to be TSO), UAL, LUV, AAPL, GS and looking at MON but have not watched it long enough and hoping IBB will work after the split. Basically anything that will get me close to 1% return per week on risk on weekly option sales. I stick with the same 3 names until they break out of their range or the premiums drop then move on to another 3. Stupid simple but very effective.
Rolled SVXY this week to 12-8, 100 put for 4.25, sold for 1.79, one for the team. if assigned cost basis will be 94.65.
SVXY Dec. 55 put to Jan 18 for 0.85
50 put same for 0.70
TQQQ rolled 120 this week call to 12-8 for 1.2 credit sold for 1.81
Should have a lot of trades Monday and will start the SPY credit spreads/iron condors @jeffcp66 style as well for anyone that wants to follow. Start out 3-4 weeks (21-28 DTE), 3-5 point spreads in a small account so only 2-6 contracts then add a new one each week until 3-4 weeks of ladders. Goal is to double the account in a year and if I can bring in even $125 a week and control the losses should be attainable (it is only a $6500 account). Will adjust anything that goes ITM as @jeffcp66 does, either roll or reverse and offset difference with additional spreads. I may try adjusting them as soon as they hit the short strike to see if that would limit the losses but will keep enough cash on had to convert to calendar, diagonal, or butterfly if we have a 3-5 STD move like Aug. 15. Should be an easy enough experiment and will know how well it works in about 3 months.
Happy Thanksgiving for those checking out early and travelling!
$SVXY
At the open, STO Dec 8 $70 puts @ $0.67
Taking profits and lightening up on strength today.
STC $RHT Dec 15 $120 calls @ $6.50, bought for $4.90 (closed too early, but taking profits)
BTC $SPX Nov 17 $2560/$2555 put spreads @ $0.30, sold for $0.85 (looks like I took off too early but market looked a little shakey there at one point so went ahead and closed these)
$URBN #ShortPuts – Bought to…
$URBN #ShortPuts – Bought to close URBN Dec 15 2017 18.0 Puts @ 0.05. Out of this one a month early
Originally sold in May at 1.25 and again at 1.45
$EFX #ShortPuts – Bought to…
$EFX #ShortPuts – Bought to close EFX Jan 19 2018 60.0 Puts @ 0.05. They don’t expire until next year.
Originally sold in September at 1.20 and again at 1.90 as a #FallingKnife trade.
Still short the Apr 60 Puts
Hearing Footsteps – Closing Too Early / Prudent Closing Also
Closed Early
#spxcampaign
$SPX BTC 11/17 2560/2585 BUPS @ 8.50 (currently at 5.40) STO at 4.70
$SPX BTC 11/200 2560/2585 BUPS @ 6.00 (currently at 5.40) STO at 4.60
$SPX BTC 11/17 2475/2500 BUPS @ .10 STO @ 1.80 Forgot GTC order Thank you @jeffcp66
#longcalls
$VEEV STC 11/17 55/65 BUCS @ 5.83 BTO @ 4.90 (19% of max possible)
#shortputs
$UAL BTC 11/17 52.50/57.50 BUPS @ .45 54% of max profit
TSLA “killer” ?
….Fisker just came out and dropped a bombshell on the electric vehicle (EV) industry: ‘New Fisker Batteries 2.5x Density, 500 Miles Per Charge & Charging in 1 Minute’….
http://www.zerohedge.com/news/2017-11-16/tesla-killer
SPX calls sold
#SPXcampaign Sold to open $SPX Dec 14th 2640/2665 call spreads for 1.50.
$SLB #ShortPuts #FallingKnife – Sold…
$SLB #ShortPuts #FallingKnife – Sold 1 SLB May 18 2018 55 Put @ 1.80
$CHRW #ShortPuts – Bought to…
$CHRW #ShortPuts – Bought to close CHRW Jan 19 2018 60.0 Puts @ 0.05. They don’t expire until next year.
Originally sold in May at 1.15, 1.45 and 1.75 as a #FallingKnife trade.
$TSCO #ShortPuts – Bought to…
$TSCO #ShortPuts – Bought to close TSCO Jan 19 2018 45.0 Puts @ 0.05. They don’t expire until next year.
Originally sold in May at 1.40 and again in July at 2.25 as #FallingKnife trades.
Also short the Jan 50 Puts. Just waiting for the fill on my order at 0.05.
RH strangling again
#Earnings So they snuck out Q3 guidance ahead of their earnings date, straining my 80/95 strangle once again. I have adjusted it higher three times already, but had planned to be out before their earnings date. Would have been a nice exit on the calls yesterday as the stock dropped to 83.00. Now it’s over 100!
Good morning
Yesterday, STO January 2009, SVXY 45 puts @7.25
Whiz response on webinar
Messing around here…can anyone open this file?
https://www.dropbox.com/s/i25ehuqnkjy695r/Whiz.3gp?dl=0
EDIT…seems like he should be aware of the max risk in a trade without depending on the software. Especially since he claims they are so unreliable! Not a huge deal…trade will still probably work but something to keep an eye on before a trader loads up on a portfolio of positions that could be open to much more risk than he thinks…
SPX Campaign / WMT Earnings / VXX Game
#spxcampaign
$SPX STO 11/17 2585/2560 BECS @ 12.70 and then BTC during the day @ 10.00. I keep closing profitable trades early and let losing trades lose more. Not sure there is a connection. Mmmmm Thank you for the idea @jeffcp66
$SPX BTC 11/24 2585/2560 BECS @ 13.40. STO 11/10 @ 18.50 Thank you @jeffcp66
#earnings
$WMT STO 11/17 95/90 BECS @ 1.25
#vxxgame
$SVXY STO 12/15 75 put @ 1.85 Thank you @optioniceman @vxxkelly @jdietz1954 You are all over these.
$SIG #ShortPuts – Bought to…
$SIG #ShortPuts – Bought to close SIG Jan 19 2018 35.0 Puts @ 0.05. It doesn’t expire until next year.
Originally sold in May at 1.15, 1.30 and 1.35 as a #FallingKnife trade.
Also short the Jan 40 Puts which are bid at a nickel. Just waiting for the fill on my order at 0.05.
$EWY rollout
Been adjusting this position since I put it on in late September. Originally a Nov 62/71 strangle but with the move up I rolled the puts a couple of times and ended up going inverted into a 72 put/71 call strangle. I just rolled this position out a month to Dec and widened the strikes back to a normal strangle for a credit.
Rolled $EWY Nov 17 71/72 inverted strangle out to $EWY Dec 15 70/71 strangle @ .78 credit.
With EWY just under 75 there’s some room here if the South Korean markets get spooked.
SPX
#RocketManHedge – Extra volatility allowing two sales per week for now. Selling against Jan monthly synthetic short. Looks like I’ll more than cover max loss with any selloff being really nice profit.
Bought to Close SPX NOV 15 2017 2565.0 Put @ .30 (sold for 5.70 last Friday)
Sold SPX (Monday) NOV 20 2017 2565.0 Put @ 8.00 (will roll down if we implode)
$SVXY #ShortPuts – Sold a…
$SVXY #ShortPuts – Sold a couple more today
Sold 1 SVXY DEC 22 2017 75.0 Put @ 2.50
Sold 1 SVXY DEC 29 2017 75.0 Put @ 2.90
#earningstrade WMT Followed from Tastytrade…
#earningstrade WMT
Followed from Tastytrade Dec. 15 80/90/90/100 #ironbutterfly for 4.38
AMZN
#SyntheticStock – Using the pullback to get a little better fill on a roll up of the front month position.
Rolled AMZN DEC 15 2017 1000.0 Call to JAN 19 2018 1010.0 Call @ 1.70 debit
Picking up another 8.30 of upside with plenty of downside cushion…poor man’s trailing stop. Reduces front month premium received to 47.45. Trade runs all the way to June 2019 so 19 more roll ups to go. It’s gotta level off at some point (doesn’t it?)…
#shortstrangles Finally have time to…
Finally have time to look at the market, I see we bounced from the lows this morning. That did not last long but at least the VIX is high enough to sell some /ES again.
STO only 2 contracts 44 DTE /ES 2360 put at 6 and 2660 call at 2.25. Market makers sticking with natural price today, could not get the mid point.
Only have enough cash for 1-2 of these each week. Plan is to add another one each W-F starting as close to 45 DTE as possible and harvest profits in 3-4 weeks as an #optionladder.
An extended move in either direction will use the future to hedge which currently requires 6k for each contract.
These are delta 8 options and usually decay to delta for in 3-4 weeks.
SVXY
#ShortCalls -Just to offset a little of my long risk in January:
Sold 1 SVXY JAN 19 2018 120.0 Call @ 3.20
Sweet spot in Jan is 105-120…
SPX trades
#SPXcampaign Closed a few more, without rolling yet:
Closed $SPX Nov 22nd 2590/2565 put spreads for 11.80. Sold for 8.60.
Closed Nov 22nd 2595/2620 call spreads for 1.90. Sold for 6.55
Closed Dec 1st 2630/2655 for .45. Sold for 1.60
SPX trades
Closed Nov 20th 2575/2600 call spreads for 5.85. Sold for 14.60 on Nov 6th.
#ReverseRoll Sold Nov 27th 2560/2535 put spreads for 5.40
Sold Nov 27th 2585/2560 put spreads for 10.15, as a partial roll of Nov 16th spread stopped this morning
Stopped Nov 17th 2560/2585 call spreads for 11.90. This was sold this morning for 9.40.
Sold Nov 29th 2565/2590 call spreads for 13.55, as an #ITMroll from Nov 22nd call stopped tis morning.
Killing downside warning
#SPXcampaign #VIXIndicator It’s becoming clear that Downside Warning needs to be scrapped. I’m taking it off the site and will determine a new strategy. The trigger will remain only as a set up for the eventual Upside Warning, which has been working like a charm.
$CAT #CoveredPuts Sold against my…
$CAT #CoveredPuts
Sold against my short stock position:
STO $CAT Dec 29 128 puts @ 1.41.
Strike price is below the 50 day moving average.
SVXY
STO Nov 24 $80 puts @ $0.50
STO Dec 29 $70 puts @ $2.00
SVXY
STO December 29, 65 put @1.60
Closed Nov 17th 2500/2475 BuPS…
Closed Nov 17th 2500/2475 BuPS for 0.20 off a GTC order. Yay!
SPX trades
#SPXcampaign Got stopped near the lows on some put spreads that were expiring today and tomorrow. Worst time to close them.
Stopped Nov 15th 2565/2540 put spreads for 8.10
#ReverseRoll Sold Nov 17th 2560/2585 call spreads for 9.40 (I will have to stop this by end of day if we don’t drop)
Stopped Nov 16th 2585/2560 put spreads for 16.90. No roll yet.
Stopped Nov 22nd 2555/2580 call spreads for 14.30. Rolling to a Nov 29th call spread as we move higher.
VIX and SPX
Well, if this does not turn into more of a correction, I will replace the Downside Warning with Iceman’s BTFD billboard. April was the last time we actually had some follow through on a downside warning, and it was only minor. Otherwise they have only meant buy the dip.
I can also say that the ITM call-spread rolling that worked beautifully before is NOT working for me this time. I experienced the usual drawdown, but have been stuck now with too many spreads close to the money and getting whipsawed on days like today. I am having to cease with selling rolls on some spreads I am closing, mainly because I need to get back to the standard strategy of 10-12 delta OTM spreads.
For now, I’m watching to see how the day ends. My main goal is to get call spreads closed while we’re down, as the inevitable move will be higher. However, we can’t shut the door on a correction before year’s end. I don’t know how much the delay of tax cuts will effect the market, but it is my opinion that nothing will be passed before Christmas. That could mean a deeper correction, but more likely a BTFD.
SVXY
#IRA – Sold 1 SVXY FEB 16 2018 60.0 Put @ 2.88
$SVXY adding slowly
Sold $SVXY Dec 29 70 put @ 2.10
$UVXY 2020
Dipping a toe into 2020 here to get something on the books at the highest strike. Will wait for more strikes to be added before selling more.
Sold $UVXY Jan 17 2020 33 call @ 10.00.
#VXXGame
$SVXY #ShortPuts – a couple…
$SVXY #ShortPuts – a couple of orders filled this morning with the stock just below 100.
Sold SVXY Dec 8 2017 65.0 Puts @ 0.67
Sold SVXY Dec 15 2017 65.0 Puts @ 1.22
Sold SVXY Dec 22 2017 65.0 Puts @ 1.25
Sold SVXY Dec 29 2017 65.0 Puts @ 1.59
and
Sold SVXY Dec 29 2017 60.0 Puts @ 1.25
$UVXY #ShortPuts – Bought to…
$UVXY #ShortPuts – Bought to close 2 UVXY Nov 17 2017 14.0 Puts @ 0.01.
We all know that the VIX could collapse at any time.
Sold these on 11/03/2017 at 0.60.
LTC Litecoin
@fuzzballl RE: your post yesterday, interesting stuff…more info 4 u.
Interactive Brokers warns on bitcoin futures
http://www.seekingalpha.com/news/3312462
DOWNside Warning in effect
Upside Warning canceled
#VIXIndicator The Upside warning that started on Sept 22nd was finally canceled at the open today, as the VIX is now over 50% higher than its low on Nov 3rd. This constitutes a signal for the downside. A full downside warning will happen if we reach 14.38 today.
These red flags are lurking…
These red flags are lurking below a market at record highs
“Fast Money” traders discusses which stocks are safe to buy as they dip lower.
Watch: http://video.cnbc.com/gallery/?video=3000671223
SPX trade
#SPXcampaign Forgot to post this yesterday. A put spread hit my stoop on the morning lows so I closed it, as well as its offsetting call spread (at a profit). I did not roll it yet.
Stopped $SPX Dec 8th 2510/2485 put spreads for 2.88.
Closed SPX Dec 8th 2650/2675 call spreads for .42.
Both spreads sold as an #IronCondor last week for 3.05.
#svxy Is today with vix…
Is today with vix at 12.93 and rising a good day to sell puts in this product?
Good morning
According to zero hedge, Denis Gartman thinks the bear market is upon us. If true to form, we should buy the dip.
LTC (Litecoin)
#Litecoin – Still playing in the middle of a busy street. Not sure how safe this is but have added some more Litecoin over the last couple weeks.
Bought to Open Litecoin @ 54.46 (earlier)
Bought to Open Litecoin @ 62.60 (tonight)
$DUST #ShortPuts #Rollout – Bought…
$DUST #ShortPuts #Rollout – Bought to close Jan 19 2018 32.0 Puts/ Sold DUST Mar 16 2018 30.0 Puts @ 0.25 Credit.
Originally sold the Jan 32.0 Puts @ 14.67 on a #Rolldown in April and covered them today at 6.46.
I didn’t “need” to make this trade today, but I wanted to get the strike price down on an up day in the stock. (at least it was up this morning) 🙂
End of day SPX trades
#SPXcampaign
Sold $SPX Dec 14th (monthly) 2635/2660 call spreads for 1.90
Sold $SPX Nov 17th 2590/2615 call spreads for 2.50. Expire this Friday at the close.
#shortcallspreads GOOGL Followed a Tastytrade…
#shortcallspreads GOOGL
Followed a Tastytrade trade Dec. 15, 1070/1080 BeCS for 2.40, GOOGL is at 1041
GILD rolled 24 DTE 78…
GILD rolled 24 DTE 78 put to 45 DTE for 0.65 credit as a calendar now. Only had 0.15 time value left. Going @fuzzballl style, stay 45 DTE and roll them when 20 or so DTE left and most of the time value has been sucked out.
Decreases max loss to $2525 now so will be rolling and adjusting these for a while!
IBB split
Was looking at some of our old friends…BIB XBI LABU and IBB for maybe some potential #FallingKnife possibilities when I stumbled on this for IBB:
The Board has approved a 3-for-1 split for this fund for shareholders of record as of the close of business on November 28, 2017, payable after the close of trading on November 30, 2017. The 3-for-1 split will lower the share price and increase the number of outstanding shares. The total value of shares outstanding is not affected by a split.
Could be interesting. Just watching for now but out next year at 220-240 looks like it could get juicy.
Boring day so step right up!
Options question on a Whiz trade from this morning. What is wrong with this? I’ll post my reply to him at the close today…LOL For the record, I DID NOT take the trade for a few reasons. Trade is a #LongCallDiagonals with protective put. He says max loss is around $5500 for 10 contracts…Hmmm
=====================================================
New XOM long call diagonal w/protective put 10 contracts
Initial trade:
Buy Jan 2020 65 calls & 65 puts @ 20.75 debit
Weekly sale:
Sell Dec 1 2017 83.5 calls
=====================================================
$SVXY #coveredputs sold SVXY for…
$SVXY #coveredputs
sold SVXY for $102.10, and Nov 17 $100 put for $1.40, yielding 3.38% if exercised
$SVXY #shortcallspreads BTC Nov 17…
$SVXY #shortcallspreads
BTC Nov 17 110/115 bear call spread for 0.05, sold yesterday for 0.45
SVXY
STO Dec 15 $75 put @ $1.80
STO Dec 22 $70 put @ $1.65
Was in a meeting so missed the last flush lower so couldn’t get the fills that @optioniceman got.
$SVXY STO Dec 29th 75…
$SVXY STO Dec 29th 75 Put @ 2.55 with SVXY at 101.82.
Afternoon all. Just popped in…
Afternoon all. Just popped in from running the dog around the yard and saw Iceman’s postings. Joined the sell.
$SVXY STO Dec 15th 75 Puts @ 1.80 with SVXY @ 101.57 Now if I can just catch that Dec 29 price.
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – Sold SVXY Dec 29 2017 70.0 Puts @ 2.05 with the stock at 101.98
$SVXY #ShortPuts – Sold SVXY…
$SVXY #ShortPuts – in an account already short some ITM Calls I’m bringing in cash with no additional margin requirement.
Sold SVXY Dec 15 2017 75.0 Puts @ 1.84.
Sold SVXY Dec 22 2017 75.0 Puts @ 2.24.
DGX
STO February 100, covered calls @ 1.70
$SVXY #ShortCalls – Bought to…
$SVXY #ShortCalls – Bought to Close 2 SVXY JAN 19 2018 137.5 Calls @ 0.48.
The original position was a sale of 1 SVXY Jan 275.0 Call @ 3.60 before the 2 – 1 split.
Taking gains when I can get them in SVXY Calls.
Old school style hedge
GILD is being my PIA trade. Down from 84.75 to 70.63 in less than a month. Usually I can roll to keep up but this thing has violated every support level over the last 6 months and keeps dropping even with institutions starting to buy it now. And the premiums are not high enough to keep up with the drop so each roll was just giving me higher margin requirements.
So anyway, I hedged it to limit my losses to $2851 but is fairly complex. Still short 8 puts at various strikes and expirations over next 17-31 DTE from 78-72. Bought 8 Jan 19 77.5 puts so those are now calendar and diagonals spreads and will roll the puts as the time value evaporates. They cost 12.26 and have over 60 weeks left so should be able to cover those with put weekly put sales and aggressively rolling down to get back to even but will need to add 4-6 to cover the rolls on the puts already. So I need to collect $18 in premium over the life of the LEAPs.
Also rolled 12/1 76 call to 71.5 and converted to synthetic short to cover my 300 shares from a further drop. Will roll the synthetic each week until we have a true reversal and will try to get a credit each week.
Credit of 1.04 on the call roll then BTO the 12/1 71.5 put for 1.80.
So now my losses are capped to what I am already in the hole and hope to make that up with weekly sales and rolling.
Ultimate goal is now just to break even. Learned long ago I don’t need to be right, just want to make $ trading.
So this will be a #longputdiagonals trade until I can scratch it. I may convert the calls to LEAPs with next roll for a true #longputdiagonals.
Also freed up a lot in margin so can now add some other trades.
Options Bistro 