$DUST #ShortPuts #Rolldown – I’ve been sitting on these short puts for months, with big gains in them because they were rolled into when the stock was a lot lower. Taking the opportunity of the move toward 28 in the stock to roll them down and out again.
Bought to close Nov 17 2017 29.0 Puts/ Sold DUST Dec 15 2017 27.0 Puts @ 0.10 Credit.
Originally sold the DUST Nov 17 2017 29.0 Puts on another rolldown @ 7.80 and covered them today at 1.83.
Monthly Archives: November 2017
$SVXY #shortputs BTC Nov 17…
$SVXY #shortputs
BTC Nov 17 $94 puts for 0.65, sold Nov 9 for $1.20.
SVXY
STO December 29, 60 put @ 1.10
SVXY UVXY
STO SVXY Nov 24 $85 puts @ $0.80
STO UVXY Dec 1 $22 calls @ $1.00
REGN
#CoveredCalls – Still reducing basis as it drops…
Bought to Close REGN NOV 17 2017 415.0 Call @ .12 (sold for 6.29)
Sold REGN NOV 24 2017 400.0 Call @ 2.60
$SVXY
STO SVXY Dec 1 $80 puts @ $1.00
SVXY Dec
Sold $SVXY Dec 15 70 put @ 1.30
UVXY for this week
Sold $UVXY Nov 17 21.50 calls @ .25
SPX puts sold
Sold $SPX Dec 14th (monthlys) 2450/2425 put spreads for 1.55.
Sold Nov 30th 2570/2545 put spreads for 6.50, as an #ATMroll from the 2585/2560 puts closed yesterday for 6.40. Was able to move down 15-points by waiting for the down open.
IBM
#401k #Dividends #ShortPuts – Adding to a few potential divvy stocks in the long term account…
Sold IBM APR 20 2018 140.0 Put @ 4.30
Gets the stock at 135.70 with a 4.4% divvy at that level. Throw in a few covered calls annually and it’s decent return….
REGN
#FallingKnife possibility. I’ve been selling covered calls (cautiously) against it. Looking at a possible long term trade there too. Great weekly premium….
SPX trades
#SPXcampaign
Closed $SPX Nov 20th 2560/2585 call spreads for 17.15. Sold for 20.25 last Monday.
#ITM roll Sold Nov 27th 2570/2595 call spreads for 16.00.
Closed Nov 20th 2585/2560 put spreads for 6.40. Sold for 6.10 last Monday.
Not rolling yet. Watching for next strong move and will sell in that direction, or a condor.
Closed Nov 24th 2625/2650 call spreads for .40. Sold for 1.75 on Oct 27th.
AMD
Possible #SyntheticStock or #LongCallDiagonals out to 2020.
Not a big fan of their products but seems pretty low risk at synthetic 12 with disaster put at 10. After this big drop it might grind around for awhile allowing pretty aggressive weekly sales before it heads back up (or down…LOL)
UVXY 2020
#VXXGame – Highest strike is 26 in the new ones. Already 448 on the volume. Nothing for me yet…
Starting a position in TTD
Never traded this one before. Stock has imploded but momentum seems to be slowing.
Sold $TTD Dec 15 45 puts @ 1.45 with the stock at 47.79.
TDA update
#Commissions – Well they were a lot more accommodating this year and gave me what I was asking as far as options go. They are about even with Tastyworks now. I’ll go after the stock commission again next year and the exercise fees. I think they’re seeing the reality of things finally!
Sticker back in the drawer for now…
TSLA
#ShortStrangles – Adding one to the upside…unbalanced now. 170 put against 500 and 510 calls.
Sold 1 TSLA JUN 15 2018 500.0 Call @ 2.65
$SVXY #shortcalls Sold Nov 17…
$SVXY #shortcalls
Sold Nov 17 $110/115 BeCS for 0.45, delta 0.18
NVDA
#ShortStrangles – One of my top performers for the year…just doesn’t feel right without something going.
Sold NVDA DEC 15 2017 200.0/240.0 Strangle @ 4.32
#optionladder STO EOG 46 DTE…
STO EOG 46 DTE 97 put for 1.05, 1.03, 1.02. Weird the market makes did not do them as a batch, usually means they are being greedy.
Econ Calendar for week of 11/13/17
Be sure to periodically click “Home/REFRESH” above to keep Bistro features updated.
NOTE: There may be errors…
NOTE: There may be errors and omissions in this list. Please perform your own due diligence and confirm the earnings date BEFORE entering a trade.
+++++++++++++++++++++++++++
Notable Earnings After Close Fri (Last Week)/Before Open Mon:
ACM, JD, TSN, VRAY
http://bit.ly/2howZNL
Notable Earnings After Close Mon/Before Open Tues:
AAP, ARMK, CLSN, CXRX, DHT, DKS, FENG, HD, HOLI, IGT, KLIC, LNG, PQG, SSYS, SWCH, TJX, WOW
http://bit.ly/2hnMipR
Notable Earnings After Close Tues/Before Open Wed:
AMRS, ARA, AST, AUPH, BZH, EVOK, JASO, MTOR, MTSI, PLCE, SBH, TGT, WPRT, YRD, YY
http://bit.ly/2hpe5GB
Notable Earnings After Close Wed/Before Open Thurs:
ANW, BBY, BERY, BL, BSTI, CATO, CSCO, FGL, HI, HP, NTAP, NTES, SFS, SJM, SPB, SPH, STNG, VIAB, WMT
http://bit.ly/2hmSNcq
Notable Earnings After Close Thurs/Before Open Fri:
AMAT, BKE, DCIX, FANG, FL, GLOB, GPS, HIBB, POST, ROST, SCVL, SPLK, SPWH, WSM
Jade lizard TT research as…
Jade lizard TT research as opposed to just selling puts. Fairly significant difference in credits.
2020 LEAPS…when?
Get the rest of them tomorrow including UVXY, VXX, and SVXY!
https://www.optionseducation.org/tools/faq/leaps_cycles.html
VIX going up
#VIXindicator The VIX is trending up again. Closes at or beyond the upper or lower Bollinger bands often signal a reversal is imminent. On the last uptrend in late October we closed 4 days at or just outside the upper BB, then reversed. On the current uptrend, we haven’t closed that high yet, which suggests the VIX uptrend may continue, meaning more volatility in the coming week.
Expiration
$SVXY Nov 10th 80 Put
Expiration / SPX Campaign / Closed Early / Assignment/Roll
Expiration
$AVGO 240 put Thank you @fuzzballl
$EXAS 51.5 put
$GOOGL 850/890 BUPS
$AAPL 149/157.50 BUPS
#spxcampaign
$SPX STO 11/24 2585/2560 BECS @ 18.50 Thank you @jeffcp66
Closed Early
$MCD BTC 11/17 170/160 BECS @ 50% lower loss than yesterday. Whew!
Rolled/Assigned
$SQ STC 11/10 34.5 Calls @ 5.05 BTO 11/7 @ 3.20 This was half of position
Took assignment of other half @ 34.50 Been looking to acquire this stock. Hope it was worth the wait
Thanks to everyone on this red white and blue site. Have a great weekend.
Nov 10 Expiration
Just one today, with no assignments.
Expired: UVXY Nov 10 25 calls
Is there really less than 2 weeks until Thanksgiving?
Wow….two expired!
SPX 2560 Put (sold for 5.20)
STMP 182.5 Call (sold for 3.63)
OptionsExpiration
SVXY $60 puts
SVXY $65 puts
SVXY $80 puts
UVXY $17 calls
UVXY $21.5 calls
UVXY $25 calls
UVXY $35 calls
IWM $145.5/$140 put spreads
Also shortly before the close BTC Nov 13 SPX $2570/$2565 put spreads @ $0.50, sold for $0.85. It was always my plan to exit these before the weekend, but really did expect a bigger profit. Yesterday’s action and today’s choppiness kept a bid in these puts and they just didn’t decay as fast as I had wanted. Still have 2 other open put spreads.
Have a great weekend everyone.
Final SPX trades
#SPXcampaign $SPX
Sold Dec 8th 2635/2660 call spreads for 1.51
Sold Dec 8th 2480/2455 put spreads for 1.44
Closed Nov 16th 2615/2640 call spreads for .45. Sold for 1.80 on Oct 20th
Sold Nov 15th 2595/2620 call spreads for 2.20
Sold Nov 24th 2510/2535 put spreads for 1.95
Have a nice weekend
I only have one expiration today. Friday afternoons can really be boring.
SVXY 60 puts.
SVXY
STO December 29, 70 put @ 1.85
Juicing returns
Added a straddle/strangle to GILD to make break even quicker now that we have found bottom.
STO 21 DTE 72 put at 0.8. Cost basis now 76.26 but break even only 74.37 for the entire series of positions. Pairs with the 21 DTE CC at 76.
have a good weekend!
EWZ
#ShortStrangles – Small roll down for some extra credit (again).
Rolled EWZ DEC 15 2017 42.5 Calls down to DEC 15 2017 40.0 Calls @ .65 credit…
Position is now Dec monthly 40 straddle @ 2.73
FB earnings
Covered Stock remnants from an #Earnings trade. No interest in holding this beyond today so bailing out at even.
Sold stock and bought 177.50 call @ 177.47 giving up 3 cents to avoid exercise fees…
TTD
Sold 1, April 35 put at 1.50
SPX trades
#SPXcampaign Too much indecision to leave ITM put spreads over the weekend:
Closed Nov 15th 2595/2570 put spreads for 12.30. Sold in #InverseCondor for 23.25 on Nov 1st
Partially rolled to: Nov 22nd 2590/2565 put spreads for 8.70
Closed Nov 13th 2590/2565 put spreads for 9.35. Sold in an #InverseCondor for 23.00 on Oct 30th.
#CondorRoll Sold Nov 27th 2555/2580/2600/2625 condors for 11.00.
Also, Sold Nov 24th 2560/2585 call spreads for 17.30, as #ITMroll.
MDT, CAH
STO MDT, June 65 put @1.11 on 1 contract
STO CAH March 50 put @1.20 on 1 contract
PBYI
Another one to add to the #FallingKnife watch list…
NWL
STO June 20 puts @.50
DIS earnings
#Earnings – Took a shot and the dealer pulled a 6 card “21” on me. Closed the ITM sides paying an extra penny to avoid exercise fees.
Bought to Close call portion of DIS 102/103/104 iron flies @ 1.01 (sold for .90). Puts should expire…
SPX puts stopped
#SPXcampaign I didn’t get the continuation of yesterday’s rally at the open so I’ve been watching for direction…. now that we’ve made a new high it looks more promising. Closed one put spread when it looked like it might fail a third time. Now I’m looking to sell the call spreads as rolls from yesterday, and then I will consider how to roll this stopped spread:
Stopped $SPX Nov 20th 2565/2540 put spreads for 4.00. Sold for 2.10 on Wednesday.
AAOI
#ShortStrangles – She’s actually perking up a little bit. Gonna let out the leash and give it some room…selling against DITM puts so treating it like a covered call.
Rolled AAOI NOV 10 2017 44.0 Calls to NOV 24 2017 46.5 Calls @ .25 credit
Current position is an “inverted calendar”…short Dec 80.0 puts and short Nov 17 44.0 calls.
These are 36 points inverted with 19.90 premium received. To get back to even I need to squeeze the inversion in to narrower than the premium received. Stock gets in between and the entire thing goes away…still some work to do but getting there.
STMP
#CoveredCalls – Replacing this week’s…selling aggressively while she (hopefully) consolidates for awhile.
Sold STMP NOV 17 2017 175.0 Call @ 3.50
STO 12/22 EOG 98 puts at 1.05.
2 days down in a row. Is that a record?!
SPX hedge
#RocketManHedge – Synthetic short out in January. Gradually covering the cost (and a little more) while carrying a little downside protection. Going out to next Wed here since the Friday monthlies only trade until Thur at the close.
This week’s 2560 looks safe so:
Sold SPX NOV 15 2017 2565.0 Put @ 5.70
Closed Early SPX Campaign
#spxcampaign Closed Early
$SPX BTC 11/24 2645/2620 BECS @ 66% profit
Rolled NFLX Short Calls
#shortcalls
Rolled
$NFLX 11/10 202 call to 11/17 197.50 calls @ 1.00 credit (Covered)
HIMX
#SyntheticStock – So so earnings so looking weak. I may regret this but very aggressive sale slightly in the money…
Bought to Close HIMX NOV 10 2017 10.5 Calls @ .05 (sold for .35)
Sold HIMX NOV 17 2017 10.0 Calls @ .50
EWZ
#SyntheticStock – Weak stock so staying aggressive with the front month sales…
Bought to Close EWZ NOV 10 2017 40.0 Calls @ .02 (sold for .46)
Sold EWZ NOV 24 2017 40.0 Calls @ .45
DIS
#SyntheticStock – The mouse is running…rolling front month up a strike for slight credit picking up another 1.05 of upside.
Rolled DIS NOV 10 2017 99.0 Calls to DEC 29 2017 100.0 Calls @ .05 credit
NVDA earnings
EFX puts
BTC January 50 puts @.05, originally sold for 1.15 so covered 2 months early.
Fuzzy, need a hand..
Fuzzy, I need your help on what and how you do with options on futures…
Happy Veterans Day
Wishing all Veterans a Happy Veterans Day..If you served, Thanks for putting yourself on the line..
I asked a question a…
I asked a question a few days ago and got two answers, so thanks for those. However, I think I didn’t word my question well or else I don’t understand the answers so I’m going to re-ask my question.
I’d like to know why PITM and Delta are essentially the same for a given strike on SPY but very different on VXX. Here’s an example from today’s TOS trade tab.
June 2018 ATM Puts
SPY: PITM = 54, Delta = 50
VXX: PITM = 62, Delta = 37
Theoretically, ATM strikes should be about 50 for both PITM and Delta, and they are for SPY. What is it about VXX and the calculations behind PITM and Delta that throws both PITM and Delta so far apart and away from 50?
================================
Original question and answers:
I have a question about VXX and delta.
During this wild bull market, I’ve been buying SPX calls and VXX puts. I buy the calls at about a 60 delta with a 200ish DTE. On the TOS and TastyWorks platforms, the PITM percentage is similar to delta. I use PITM because several years ago Sosnof made the case PITM is a better estimate for the probability of expiring in-the-money than is delta.
So this brings me to VXX. Delta and PITM are not even close to the same. At 200ish DTE, they are about 25 points apart.
My question is why are PITM and delta so different for VXX, and which is a better estimate of the probability of expiring in-the-money? I ask because it clearly affects strike selection and potentially affects when to roll or close.
from vxxkelly: Steve, The difference with $VXX is likely explained by the skew. Take a quick look at the June 18 options. ATM the puts and calls are trading almost equal, but go up $10 on the calls and down $10 on the puts. Massive difference in the pricing, the calls are going for more than 2X the puts.
1) $VXX is a decaying asset vs any given stock or index that isn’t, the market knows this
2) If there were a volatility spike, there is significant risk to the short calls, so people who are selling them want a premium for the risk they are taking.
From hcgdavis: And that is where you find the “edge” in trading vol. products!
SPX Campaign / Short Puts / Short Calls / Expired / Closed Early
#spxcampaign
$SPX STO 11/20 2545/2565 BUPS @ 3.10
$SPX STO 12/8 2485/2510 BUPS @ 2.65 Thank you @jeffcp66 IC
$SPX STO 12/8 2675/2650 BECS @ .55
$SPX STO 11/24 2505/2525 BUPS @ 1.25
#shortputs
$NVDA STO 12/15 170/185 BUPS @ 2.35
$ADBE STO 12/15 167.50/177.50 BUPS @ 1.45 Thank you @thomberg1201
$AMZN STO 11/17 1085/1095 BUPS @ 1.25
$OSTK STO 12/15 30/40 BUPS @ 1.82 (Bridget at OMM)
#shortcalls
$BABA STO 12/15 195/190 BECS @ 1.50
Expired Full Profit
$SPX 11/8 2515/2540 Thank you birthday guru
Closed Early
$CAT BTC 11/17 145/140 BECS @ 58% profit
SPX trades
#SPXcampaign $SPX
Closed Nov 22nd 2550/2525 put spreads for 2.70. Sold for 2.80 this morning. This was a mistake that I sold it, so I took it off once we bounced back. Covered commissions.
Closed Nov 17th 2550/2575 call spreads for 20.30. Sold last Friday for 19.00. Will roll tomorrow.
Sold Nov 22nd 2595/2600 call spreads for 6.65. A roll from the 2585/2610 spread closed earlier today for 5.95.
DIS earnings
#Earnings – Just for fun planning on hardly any movement. This is obviously separate from my #SyntheticStock position…
Sold DIS 102/103/104 iron flies @ .90 risking .10 to make .90 with a 3.15 expected move.
Tomorrow the banks are off,…
Tomorrow the banks are off, so the market will be slow
Futures
$SVXY
On the small spike this afternoon.
STO SVXY Nov 17 $80 puts @ $0.41
Happy B’day Jeff…
PCLN
Guess they’re not going out of business after all? 🙂
VIX juss can’t stop it
Just as happened on Oct 25th, the VIX peaked just shy of cancelling the Upside Warning. We are now on yet another rally off a small dip in SPX.
I did my first and only #InverseCondors last week, and am now white-knuckling through these dips for them to expire next week. If we can keep near the highs until then, I will have significantly reduced my ITM status on the call spread side, and I will pare down my put spread positions in anticipation of a deeper pullback. That’s the plan, if the market can hold off on any deeper dives until then. If not, my ITM positions will be puts rather than calls!
SPX trades
#SPXcampaign $SPX
Yesterday:
Closed Nov 15th 2540/2565 call spreads for 23.30. Sold for 20.70 on Nov 1st
Rolled to Nov 22nd 2555/2580 for 20.90.
Closed Nov 15th 2575/2600 call spreads for 16.45. Sold in #InverseCondor on Nov 1st for 23.25.
Not yet rolled (was waiting for this morning, but that hasn’t worked out yet)
Sold Nov 20th 2540/2565 put spreads for 2.10.
Today:
Sold Nov 22nd 2560/2535 put spreads for 3.05
Sold Nov 22nd 2550/2525 put spreads for 2.80
Closed Nov 17th 2585/2610 call spreads for 5.95. Sold last Friday for 14.10. Plan to roll this if we can rally back higher.
$UVXY
STO $UVXY Nov 10 $17 calls @ $0.33, basically at today’s high, expires tomorrow.
If I’m wrong, only have to wait until tomorrow to know and roll it.
TRTN
#ShortPuts STO TRTN 45 puts (ITM) @ 3.20, shares at 41.95, replacing exercised shares before dividend of .45 on Nov 30. Bump today attributed to positive earnings report.
SVXY
STO December 22, 60 puts @1.05
DOW Drops 200
http://tinyurl.com/y8vvpob5
Awareness of potential downsides?
#volume OIH Over 20,000 strike…
#volume OIH
Over 20,000 strike 28 calls traded in OIH (oil services ETF) in January, a huge number for OIH. Stock currently at 25.91
Quiet week
Closed the /cl trade for an $800 (was 2k at 0600) loss. I hedged the move this morning by going long 3 futures but then had a meeting. By the time I came back the big move was over so closed everything out. I think it would have worked out eventually but was using up too much margin for some other things I want to do. Will revisit or go back to /es since they have weeklies and easier to manage.
It also confirms the way for me to trade directionally is to sell options. I just seem to always miss the big pivots/reversals because my schedule does not allow me to watch the market. If I could sit and watch all day (which I don’t want to) I think I have the tools and skills to do it, just not for me. I have always had more success selling options and that is what I will do from now on but will take a slightly directional bias to hopefully improve returns. However based on the TT research I may move my ladders out a little farther to 45 DTE and see if I can recycle capital faster. Currently using 21-28 DTE on the #optionladder. The big decay on OTM options is usually that first 2-3 weeks.
Rolled GILD 77.5 out 11-17 to 12-15 for avg. 0.99 credit. Cost basis now 75.5. Stock currently 72.8 so getting close to a break even.
SVXY one for the team, STO 11/17 100 put at 1.79.
I tried to sell some TNA puts at 60 for 15 DTE but the bid ask was 0.29-1.9 and once I got to 1.5 and the market makers would not bite made me realize the liquidity is probably not there so cancelled it.
Going biking, we are finally cold enough here to kill the ticks and chiggers so can go mt bike in the woods again 🙂 without getting all itchy or funky tick borne illnesses 😦
Have a great weekend, that’s all I have, next week is a large expiration but done trading this week unless there is something really exciting tomorrow.
Will start the small account SPY credit spreads experiment @jeffcp66 style once some CC calls expire next week (monday 11/20). It is a small account 6200 so will set up ladders using 3-5 point spreads on the SPY and each week add one. Once 3-4 weeks on the ladder let the expiring ones close or roll them into new ones. My goal is to double it in a year or even even better like Don Fishback is claiming, they had a 300% return on the SPY credit spreads last 12 months. I saw the spreadsheet with the trades but they whited out just enough information that I could not tell the dates of the losing trades so cannot see how they closed them. Looked like there were only 3-4. From what I can tell, partial loss, they did not let it go full loss. But with @jeffcp66 tactics we may be able to scratch them or even turn into a winner. Will see!
Cheers!
NVDA earnings
FFIV
#ShortStrangles – Was just killing time with some post earnings strangles. Trading these in for my NVDA earnings position…
Bought to Close FFIV NOV 17 2017 115.0/127.0 Strangles @ .50 (sold for 1.45)
Options Bistro 