#ShortStrangles – Not taking stock since these are trading just like stock this DITM. Going for max premium selling weekly calls against. Out at even is my goal…
Rolled AAOI NOV 17 2017 80.0 Puts to DEC 15 2017 80.0 Puts @ 1.00 credit
Still sitting on short 44 calls for tomorrow. All included since the beginning of this ordeal I’ve reduced basis in the puts to 60.25 so gradually getting there!
#shortputs #earlyassignment MAT
Aug. 8 I sold a Jan. 18 put for 1.25. Yesterday I as assigned 100 shares of MAT. I don’t understand why that happened, and especially why it happened to me, heh heh. I also am short a Dec. 15 20 put in MAT. MAT currently going for 13.95-buy hot wheels and Barbies for your children, grandchildren, kids in the neighborhood…
#SyntheticStock #LongCallDiagonals – Rolling up and out to the monthly picking up another .61 of upside.
Rolled MGM NOV 10 2017 31.5 Calls to MGM DEC 15 2017 32.0 Calls @ .11 credit
STO December 15, 60 puts @.80
Hard to get good prices on puts these days.
#CoveredCalls – More basis reduction…kind of an odd fill doing this in a single trade. Closed this week well above the mid and sold next week well above the mid. Still got the 5 bucks I was asking.
Bought to Close REGN NOV 10 2017 425.0 Call @ 1.29 (sold for 6.50)
Sold REGN NOV 17 2017 415.0 Call @ 6.29
STO Nov 24 $24 calls @ $0.40
STO Nov 17 $2560/$2555 puts @ $0.85
#VXXGame trades
Sold:
$UVXY Dec 22 30 call @ 1.10 (highest strike)
$SVXY Dec 22 65 put @ 1.20
And we open with the lowest TICK reading since June.
At the open STO Dec 8 $60 puts @ $0.55
#ShortPuts #IRA – Bought to Close SVXY NOV 17 2017 80.0 Put @ .25 (sold for 2.50)
Interesting research by the TT team just the other day. Looks like the sweet spot on strangles is 10-20 deltas.
https://www.tastytrade.com/tt/shows/market-measures/episodes/optimal-risk-reward-in-strangles-11-06-2017
Gotta Question for someone. Yesterday I was selling some synthetic stock that I’ve had for several months (buy a call, sell a put, buy a lower put). I was trying to sell two contracts but fat fingered it and sold three, so I had to buy one back. This was in a small account that I have. When I try to sell some calls for next week, I got the pattern day trader warning and they would not let me trade. Is it common practice to count a combo like that as three trades? This was with IB.
Looks like they’re still alive and kicking. Anybody that’s still at OMM…has @scottto mentioned it lately? These guys and REGN both had good earnings today.
#CoveredCalls – Received this stock from reverse rolling some threatened calls quite awhile back. Lot’s of things I could do with it to squeeze a little extra out of it but I’m not gonna look a gift chicken…errr….horse in the mouth. Breakeven was my original goal and with plenty of Jan risk I’m booking and raising the cash.
Sold to Close SVXY covered stock @ 91.25 (basis 83.22)
Sold to Close SVXY covered stock @ 93.25 (basis 84.07)
#ShortPuts – For some reason today (maybe it’s the chicken) I’m feeling like trimming some risk. Also, clearing out a little to take a slightly bigger position than normal in NVDA earnings tomorrow.
Bought to Close WDC NOV 17 2017 85.0 Puts @ 1.00 (sold for 1.55)
#shortputs
$GILD 12/15 67.5/72.5 BUPS @ 1.55 (Dr Science at OMM)
$SVXY STO 12/15 85 put @ 2.50 Thank you @jdietz1954
$SVXY STO 12/8 70 put @ 1.45 Thank you @jsd501
Closed Early
$AAOI BTC 11/17 50 puts @ 8.70 Getting out with small loss after a few rolls of the AAOI
$COST BTC 11/17 150 put @ .05 STO 10/6 @ 1.74
$SPX 11/10 2625/2600 BECS @ 54% profit Thank you @jeffcp66
STO $C Nov 24 $71/$68 put spreads @ $0.50
BTO $RHT Dec 15 $120 calls @ $4.80
STO $SPX Nov 15 $2570/$2565 put spreads @ $0.75
STO $RCL Nov 17 $124/$120 puts spreads @ $0.33
I rolled my 134 call for November 10 out to the November 17, 135 call for a credit of .90 cents. The 2019, 80 calls are up and the 80 puts would be at a profit except for the wide spread on the option price.
167.50/177.50 for 1.30, thanks for pointing out my mistake, I’m blaming my phone
#Earnings tomorrow so I’m going flat until then. Taking a buck here for now.
Bought to Close NVDA NOV 10 2017 210.0/200.0 Bull Put Spread @ 4.25 (sold for 5.25)
#FANG Futures – what could possibly go wrong 🙂
$TRIP #ShortPuts #FallingKnife – Sold 1 TRIP Jan 19 2018 28.0 Put @ 1.40
$HP #ShortPuts – Bought to close HP Dec 15 2017 40.0 Puts @ 0.05. These won’t trade any lower and have over a month until expiration.
Originally sold in August at 1.15, 1.25, 1.30 and 1.55 as a #FallingKnife trade.
Still short the Dec 42.5, Jan 40 and Mar 37.5 Puts in an #OptionLadder.
I hope @jeffcp66 has not been kidnapped.
$PRGO #ShortPuts – Bought to close PRGO Nov 17 2017 55.0 Puts @ 0.05.
Originally sold on 08/04/2017 at 1.30.
I had already bought back the Jan 50 Puts at a nickel several weeks ago.
And the chicken background is really distracting 😦
It looks like the chicken has taken control of the background.
#fallingknife #shortputs AKAM
Bought January 18, 40 put for .05 sold May 5 for 1.12 gracias hielo hombre
Fear the chicken!
$DUST #ShortPuts – Sold DUST Nov 10 2017 25.0 Puts @ 0.30. These also expire Friday
$NUGT #CoveredCalls – Sold NUGT Nov 10 2017 30.5 Calls @ 0.34. These expire Friday.
#spxcampaign
$SPX STO 11/17 2560/2585 BUPS @ 4.70
$SPX STO 11/20 2560/2585 BUPS @ 4.60
#shortputs
$GIS STO 4/20/2018 47.5 put @ 1.60
Closed Early
$CAT BTC 11/17 145/140 BECS @ 69% profit
$SVXY BTC 1/19/2018 22.50 put @ .20 STO 11/2016 @ 9.23
$AKAM BTC 11/17 42.50 put @ .05 STO 5/10 @ 1.66
$SPX BTC 11/10 2590/2565 @ 18.10 STO 10/27 @ 12.55
$FB BTC 11/17 155/165 BUPS @ .10 STO 10/6 @ 2.08 94% profit
$ALK #ShortPuts #FallingKnife – Sold 1 ALK APR 20 2018 50.0 Put @ 1.25
$PXD #ShortPuts – Bought to close PXD Jan 19 2018 90.0 Puts @ 0.05. They won’t trade any lower and don’t expire until next year.
Originally sold on 08/07/2017 at 1.25.
#Earnings – Positions in both so not adding to either one…
Still 30 minutes to go, but is this finally a day where stocks aren’t being bought into the close? Hasn’t happened much recently.
Down a bit today, but as expected the recent run-up has opened up some new strikes (up to 45 in Nov, Dec and Jan, and 44 in Mar and Jun).
Looks like you could sell calls at the highest strike in June (44) for at least today’s high or more. I’m not jumping in yet–that is still more than 7 months away and if there’s a prolonged move up in oil that strike could be taken out quickly on a 3x ETF. If this move in oil turns out to be a big head fake then I will have missed the opportunity. I think I’d feel more comfortable waiting for something like Dec 45s to sell for more than 1.00.
As always, I reserve the right to change my mind. 🙂
A decent day on the YM front…
Sold $TRIP Mar 16 27 put @ 1.45.
#FallingKnife
Playing a bit of catch up here
Yesterday
#SPXcampaign Sold to open Nov 24th 2525/2505 BuPS @ 0.90. Currently at Mark 1.10 so I was a day early.
Closed SVXY Nov 10th 75 Puts for 0.05 to essentially roll out to Dec. Dec short Puts were not filled.
Today
Sold Dec 15th 85 Puts for 2.55.
Nearing the end of year so it’s time for me to evaluate my volume of trading and related fees. I’ve increased my volume of contracts enough to where I really need to address this. I’ve found some competitors that are considerably less with similar trading platforms. I’m looking at moving to a place that starts at 50 cents per contract. I like it here at TDA and would prefer to stay even if slightly higher. If we could get me down to 75 cents per contract (no ticket charge) that would help a lot.
Thanks for your consideration.
$UVXY #CoveredCalls – Sold some small positions for this Friday
Sold UVXY Nov 10 2017 18.0 Calls @ 0.25
Sold UVXY Nov 10 2017 18.5 Calls @ 0.19
A couple of small trades
STO Nov 17 $22 calls @ $0.33
STO Dec 8 $30 calls @ $0.50 (highest strike)
#BearCallSpreads #VXXGame #IRA – Taking a little off here in case tax reform dies and we get a debt ceiling battle towards end of year…
Bought to Close UVXY JAN 19 2018 30.0/40.0 Bear Call Spreads @ .50 (sold for 2.20)
$FLR #ShortPuts – Bought to close FLR Jan 19 2018 37.5 Puts @ 0.05. They won’t trade any lower and don’t expire until next year.
Originally sold on 08/07/2017 at 2.15.
#LongCallDiagonals #SyntheticStock #IRA -Been waiting for this thing to show some signs of life to get in (again) with a long term Whiz style. 2020’s out so going in with a full position.
Bought to Open VRX JAN 17 2020 15.0 Calls @ 4.20
Sold to Open VRX JAN 17 2020 15.0 Puts @ 4.66
Taking the 46 cent credit from synthetic position applying it to the disaster put…
Bought to Open VRX JAN 17 2020 12.0 Puts @ 2.96
This gives a net debit of only 2.50 for the Jan 2020 position. Add the 3 point max downside and get a max loss possibility of 5.50. Based on that, and the 114 weeks remaining in the trade I only need to average 5.0 cents per week in sales to cover the absolute worst case scenario.
So:
Sold VRX NOV 17 2017 14.5 Calls @ .23
#SPXcampaign Bought to close $SPX Nov 13th 2560/2535 put spreads for 1.70. Sold for 4.00 last Thursday.
At this point the SPX chart resembles that of Aug 8th. On that day, we opened with a rally to new all-time high of 2490, then reversed intraday and close lower. We then pulled back to 2417 over the following two weeks.
STO:
December 8, 70 put @.85
December 22, 70 put @1.45
Rolled 11/10 78 puts to 12/3 for 0.48 credit. I had no problem taking shares this friday but easier to manage margin if I don’t.
Also Michael Shulman of options income blueprint reminded me it is quicker to break even by converting to covered calls, but .40 a week for a year is $2080 and my own rule is if I can still take a credit close to 0.5 better to keep rolling the puts. Much below better to take shares and convert to CC.
Drop in the SPX must be due to my aelling put spreads earlier!
$NFX #ShortPuts – Bought to close NFX Dec 15 2017 25.0 Puts @ 0.05. They won’t trade any lower and still have over a month until expiration.
Sold at 1.20 and again at 1.50 in June as a #FallingKnife trade.
Still Short Dec 26.0 Puts and Jan 28.0 Puts as part of an #OptionLadder.
$HES #ShortPuts – Bought to close 1 HES Nov 17 2017 37.5 Puts @ 0.01
Originally sold at 1.40 and again at 1.51
Still short the Jan 30.0 Put and the May 32.5 Puts
$APC #ShortPuts – Bought to close 1 APC Nov 17 2017 37.5 Put @ 0.01 and 1 APC Nov 17 2017 45.0 Put @ 0.01.
They won’t trade any lower.
Sold the 45.0 Put @ 1.68 and the 37.5 Put @ 1.25 as #FallingKnife trades.
$AKAM #ShortPuts – Bought to close AKAM Nov 17 2017 42.5 Puts @ 0.01. They won’t trade any lower.
Sold at 1.18 and 1.31 and later at 1.61 and 1.68 in May as a #FallingKnife trade.
Still Short Jan 40 and 37.5 Puts as part of an #OptionLadder.
$DPS #ShortPuts – Bought to close 1 DPS Nov 17 2017 80.0 Put @ 0.05. It won’t trade any lower.
Sold at 1.25 on 05/03/2017
#SPXcampaign Closed $SPX Nov 8th 2580/2555 put spreads for .90. Sold for 6.15 on Oct 27th. If we get a pullback today, I’m not letting this one get into trouble a day before expiration.
#SPXcampaign Sold my first 5-week position as a condor:
Sold $SPX Dec 8th 2485/2510/2650/2675 #IronCondor for 3.05
STO:
December 15, 70 puts @1.00
December 22, 65 puts @.90
December 22, 75 put @ 1.50
Sold $SPX Nov 20th 2560/2585 call spreads for 20.25, as an #ITMroll from spread closed yesterday.
Stopped Nov 16th 2610/2635 for 2.70. Will look for a roll.
#ShortStrangles – Taking a small shot….
Sold PCLN DEC 15 2017 1550.0/1950.0 Strangle @ 5.50
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.
#SPXcampaign Since today marks a further validation of the Upside Warning on the #VIXindicator, I’m selling an additional aggressive put spread, and holding off on selling new call spreads and an #ITMroll.
Sold $SPX Nov 16th (monthly) 2585/2560 call spreads for 5.10.
$CVS #ShortPuts #FallingKnife – Sold 1 CVS NOV 24 2017 65.0 Put @ 1.17. Post earnings trade with a short time frame
A wild ride today
$CAH #ShortPuts #OptionLadder #FallingKnife – added a couple of rungs this morning.
Sold 1 CAH MAR 16 2018 52.5 Put @ 1.65
Sold 1 CAH JUN 15 2018 50.0 Put @ 1.70
STO December 22, 65 puts @1.15< these are small trades just to keep me in the market and make coffee money.
Told you /CL would move if i put on a strangle! Now just need to short GILD to make it go back up.
Rolled the 72 DTE /CL 46 put up to 47.5 locking in 600 profit and an extra credit of 0.08.
Leaving there because as soon as it hit 57 sell orders for 7337, 8420, 9000, and 6350 contracts came in and put a cap on the move. At that price I am sure some extra production will come back on line as well.
Commodities follow supply and demand better than stocks and seasonally oil is usually down until the new year. But if we keep moving I will hedge with the futures either way.
Also STO GILD 12/1 76 call at 0.86 dropping cost basis to 77.1. Have a feeling I will be rolling these for a while, still has not found a bottom.
I had thought about adding some puts but under water enough it does not make sense. Sometimes you get to a point where any adjustment is painful. Will just suck it up and roll weekly until even, hopefully won’t take all year.
#SPXcampaign $SPX
Closed on GTC orders:
Nov 8th 2540/2515 put spreads for .20. Originally sold for 2.00
Nov 16th 2465/2440 put spreads for .20. Sold for 1.50 on Oct 19th.
Closed Nov 13th 2570/2595 call spreads for 16.25. Sold last Monday as part of an #InverseCondor for 23.00. (Leaving the 2590/2565 put spread on for hopeful expiration)
#ITMroll Sold Nov 20th 2575/2600 call spreads for 14.60.
Closed Nov 13th 2540/2565 call spreads for 23.45. Sold last Monday for 20.50.
Not yet rolled
Sold Nov 20th 2585/2560 put spreads for 6.10.
$TSLA #ShortCalls – Bought to close TSLA Nov 17 2017 500.0 Calls @ 0.01.
Started selling these in May @2.66 and added on in June @ 5.32.
STO $SPX Nov 13 $2570/$2565 put spreads @ $0.85 small position
STO December 15, 55 puts @.60
UVXY #shortstock #shortputs #shortcalls
Last week was exercised on naked call ($1.25) at $14. Today I elected to cover potential margin call by selling $15 put ($0.73) and buying $19 protective call ($0.13). I think this will mitigate my risks to a low cost worst case $3.15 (19-14-1.25-0.60). However more likely is a small gain if present trends continue $0.85 (14+1.25+0.6-15), and acceptable return. Does anyone see any flaws in plan?
#earnings Anyone interested in CAR-Avis?
#ContangoETFs Hey @ramie77, since DRIP has dropped, is it time to give GUSH a gander?
Options Bistro 