#SPXcampaign Sold to Open $SPX Nov 13th 2560/25635 put spreads for 4.00, as a #ReverseRoll from calls stopped yesterday.
Also yesterday, forgot to post:
Closed Nov 8th 2530/2505 put spreads for .60. Sold for 3.70
Monthly Archives: November 2017
AAPL Earnings
#earnings Mostly followed @jeffcp66 strikes, sold Nov. 17 #ironcondor 152.50/157.50/180/185 for 1.22
Next week trades
Will be assigned 300 shares of GILD tomorrow at 79. Cost 77.96. Will cover next week or synthetic short if it keeps dropping. 74.35 is a long term elliott wave level support so if it breaks that synthetic with a few extra puts.
Rolled WDC 85 CC to 2 weeks out for 0.82, 0.8, 0.72, 0.77 credits
Rolled WDC 86 CC to 2 weeks for 1.08 credit
Closed WDC 84.5 put for 0.05, sold 1.05
New ticker based on @jsd501 idea yesterday and I have been watching it for a few months now. Good premiums but whippy. STO TQQQ 11/17 115 put for 1.75. Had no problem going at the mid point so suspect liquidity is good.
Theta on /CL 5 contracts is $61 per day so up $50 last night. I know some of you don’t like not have weekly options but it is an efficient market.
Have a bunch of 85 SVXY puts expiring tomorrow.
We need some volatility. Took me twice as long as usual to find any good trades or premium this morning.
That’s all for the week, going biking and hope everyone has a good expiration tomorrow!
Chris
$UVXY
STO Nov 10 $21.5 calls @ $0.34
rolled GLD
#PerpetualRollingStrangles – Tastytrade research suggests rolling at 15-20 days to go to maintain max daily theta which is the goal of these. If they’re out of the money I’ll hold ’em but in the money I’ll roll ’em.
Rolled GLD NOV 17 2017 125.0/118.0 Inverted Strangles to DEC 15 2017 125.0/118.0 @ .85 credit
TLT roll
#PerpetualRollingStrangles – Picking up another nice monthly “dividend”…
Rolled TLT NOV 17 2017 130.0 Puts to TLT DEC 15 2017 130.0 Puts @ .30 credit…
Current positions now all in December bringing in $44 per day of theta. I felt this was a pretty important thing to remember about these “forever” trades. Time decay is time decay…whether in the money or not, it’s the same. As long as the deltas are reasonable just keep on collecting. Easily bringing in 150% on margin annually.
December:
121.0 Calls and Puts
123.0 Calls
127.0 Puts
129.0 Calls
130.0 Puts
Slightly long deltas…
AAPL earnings
#Earnings Sold $AAPL Nov 3rd 157.5/177.5 strangles for 1.23. Small position to start, may add more on each side with intraday swings.
Biggest UP move: 6.5%, Biggest DOWN move: -6.6%, Average move: 4.2%. With stock at 166.50 my short strikes are +6.6% and -5.4% OTM.
TSLA again
#ShortCalls -Cleaning up a straggler on this drop…
Bought to Close TSLA JAN 19 2018 500.0 Call @ .15 (sold for 2.15)
TSLA earnings
#Earnings – Got lucky…didn’t think 300 would hold so I’m outta here!
Bought to Close TSLA NOV 3 2017 290.0/350.0 Strangle @ .61 (sold for 4.65)
Worst case scenario? CHAPTER 11…what are the odds?
Probability Of Bankruptcy Analysis
For stocks, Probability Of Bankruptcy is normalized value of Z-Score. For funds and ETFs it is derived from a multi-factor model developed by Macroaxis. The score is used to predict probability of a firm or a fund experiencing financial distress within next 24 months. Unlike Z-Score, Probability Of Bankruptcy is the value between 0 and 100 indicating the actual probability the firm will be distressed in the next 2 fiscal years.
https://www.macroaxis.com/invest/ratio/UAA–Probability-Of-Bankruptcy
Bottom feeders in my accounts:
AAOI: 3%
TEVA: 48%
UAA: 13%
Expired
#optionsexpiration
$SPX 2540/2515 BECS 300 loss per contract
$TSLA – initial move has…
$TSLA – initial move has it down to 305ish.
TEVA
Not really #Earnings but sort of. Uncovering my stock just in case something crazy happens.
Bought to Close TEVA NOV 3 2017 15.5 Calls @ .19 (sold for .32)
#earnings FB #butterfly #longputspread Nov….
#earnings FB
#butterfly #longputspread
Nov. 17 sold 177.50/182.50/182.50/185 puts for .86 credit, possible 346 above 179, bought 180/172.50 for 1.59 to cover the downside.
Last of the DRIPs
Closed the last of my positions in this ticker at .05. Was a nice run starting in July, and now completely out of it. Not sure if we’ll get another shot at this one anytime soon.
Bought to close $DRIP Dec 15 35 calls @ .05. Sold for 3.58, 4.00 and 5.00 from 6/7-6/21.
$TSLA #ShortPuts #Earnings – Sold…
$TSLA #ShortPuts #Earnings – Sold TSLA Nov 3 2017 270.0 Puts @ 0.72 with the stock at 321.90.
These Expire Friday
#SPXCampaign Sold to open a…
#SPXCampaign Sold to open a Bull Put spread, Nov 22nd 2500/2480 for 1.00 when SPX was at 2580.33. Immediate fill at the mark. Hate that because it makes me feel like I missed something. Should have added a nickel. I’ll be out before holiday travels.
FB earnings
#Earnings #CoveredCalls Sold $FB Nov 3rd 192.5 covered calls for 1.15 and 1.30
$SVXY
STO $SVXY Nov 10 $80 puts @ $0.33
$FB Earnings
Going outside the expected move and selling puts (in the Nov monthly series) at a level where I wouldn’t mind owning the stock. Basis would be 168.35.
Sold $FB Nov 17 170 puts @ 1.65.
SPX Campaign Quickie / SPX Not So Quickie / Short Puts
#spxcampaign
Quickie
$SPX STO 11/13 2590/2565 BECS @ 16.70
$SPX BTC 11/13 2590/2565 BECS @ 14.00 One day trade. Thank you @jeffcp66
Not as Quickie
$SPX STO 11/13 2565/2590 BUPS @ 8.15
#shortputs
$STX STO 12/15 36 put @ 1.05
$EXPE STO 11/17 120 put @ 1.20
$CREE STO 12/15 35 put @ 1.50
$MZOR STO 11/17 55 put @ 1.30
$EXAS STO 11/10 51.5 put @ 1.20
TSLA
#Earnings – This could get exciting…selling 1.5x the expected move.
Sold TSLA NOV 3 2017 290.0/350.0 Strangle @ 4.65
FB
#Earnings – Going super bullish and/or getting a little stock at close to wherever it drops to if she tanks. I’m happy either way…
Sold FB NOV 3 2017 190.0/185.0 Bull Put Spread @ 3.50
#earningstrade TSLA Nov 17 #ironcondor…
#earningstrade TSLA
Nov 17 #ironcondor 260/270/380/390 for 1.20 TSLA is at 322
TLT
#PerpetualRollingStrangles – Surprise fill prior to the Fed announcement. Loading up more theta…
Rolled TLT NOV 17 2017 127.0 Puts to DEC 15 2017 127.0 Puts @ .66 credit
SPX trades
#SPXcampaign $SPX
Closed Nov 8th 2525/2550 call spreads for 23.75. Sold last Wednesday for 19.40.
#ITMroll Sold Nov 15th 2540/2565 call spreads for 20.70.
Closed Nov 8th 2540/2565 call spreads for 22.65. Sold for 19.35 on Oct 24th.
#InverseCondor Rolled to Nov 15th 2575/2600 calls and 2595/2570 put spreads for 23.25.
Stopped Nov 10th 2600/2625 call spreads for 3.80 (4.00 stop was hit)
Working on a #ReverseRoll
Oil trade, looks like the…
Oil trade, looks like the opec changes are working and oil is staying in a tighter range.
Futures margin currently $2700 per contract so would not sell anymore options than you can cover.
I am currently only selling 5 contracts as I need margin to cover GILD shares at end of week.
/CL strangle Feb 18 46/63 for 0.48 credit which is $2400 credit on 5 contracts. Initial margin 6000 but I have my cushion to cover the contracts if we have an extended move.
Goal is to take off in 4 weeks for 50% profit. Those levels are currently delta 8 and they decay to delta 4 in 4-5 weeks.
Just filled at 0.48
$NFX #ShortPuts – Bought to…
$NFX #ShortPuts – Bought to close 1 NFX Dec 15 2017 23.0 Put @ 0.05. It won’t trade any lower and has almost 2 months to run until expiration.
Originally sold at 1.20 on 08/03/17 as a #FallingKnife trade.
TSLA earnings
#Earnings Sold $TSLA Nov 3rd 320/325/330 unbalanced (2/3/1) put butterfly for 2.15.
Bought two 320 puts, sold 3 325 puts, bought one 330 put. Net credit 2.15.
Max profit with 325 pin, 7.15. Minimum profit if above 325, 2.15 . Max loss of 2.85 to downside below 320.
$UAA #ShortPuts #Speculation – Sold…
$UAA #ShortPuts #Speculation – Sold UAA Nov 24 2017 12.0 Puts @ 0.53 with the stock at 12.06.
$BBBY #CoveredCalls – Sold BBBY…
$BBBY #CoveredCalls – Sold BBBY May 18 2018 25.0 Calls @ 0.77
#LongCallDiagonals help!
If anyone sees or notices any issues with these #LongCallDiagonals please throw it out there. Maybe we can fine tune for even more safety or profits. I got the idea from Whiz but applying it to my own underlyings. He’s been trading them for years but maybe we can improve on it.
Kinda like my cockpit briefing with the other guy (or gal 🙂 ) …if you see me doing something stupid ask me what the heck I’m doing…LOL I’ve got pretty thick skin!
GE
#LongCallDiagonals -Not in this yet…waiting for 2020’s but here’s what I’m looking at based on Jan 2019 numbers
1. Sell 23 puts and buy 23 calls (synthetic long stock)
2. Buy 20 puts for protection for disasters
All of that for a .75 credit so max loss of 2.25 so only need to sell 3.5 cents per week to cover max loss. Anything above that goes straight to profits.
DIS
#LongCallDiagonals – 115 weeks to go. 🙂
Bought to Close DIS NOV 3 2017 99.5 Calls @ .01 (sold for .36)
Sold DIS NOV 10 2017 99.0 Calls @ 1.36
SPX hedge
#RocketManHedge – Only need to collect 4.15 per week to carry this as a free hedge…this week’s looks safe so selling next week. So far it’s looking like carrying a short SPX position out to Jan expiry might actually turn a profit with market up or down (down would be better 🙂 )
Sold SPX NOV 10 2017 2560.0 Put @ 5.20
Selling against synthetic short in January…
MA earnings closed
#Earnings BTC $MA Nov 3rd 150/148 put spreads for .25. Sold for 1.00 on Monday.
TSLA
#Shortstrangles – Jan 500 call looking safe so re-loading.
Sold TSLA JUN 15 2018 170.0/510.0 Strangle @ 6.01
TLT
#PerpetualRollingStrangles – Missed one yesterday. Keeping the theta coming in on these. I’ll be rolling a lot more after FOMC today.
Rolled 6 TLT NOV 17 2017 121.0 Calls to TLT DEC 15 2017 121.0 Calls @ .35 credit
$RRC #CoveredCalls – Sold 1…
$RRC #CoveredCalls – Sold 1 RRC JUN 15 2018 23.0 Call @ 1.20
$M #CoveredCalls – Sold M…
$M #CoveredCalls – Sold M MAY 18 2018 26.0 Calls @ 0.63
$RIG #ShortPuts – Bought to…
$RIG #ShortPuts – Bought to close RIG Nov 17 2017 8.0 Puts @ 0.01.
Originally sold in May at 0.40 and 0.50 as #FallingKnife trades
$EA
STO Nov 24 $105 puts @ $.62
gm – it’s time for…
gm – it’s time for TSLA Iron Fly Nov 10 300/320//300/280 for 16.80 cr? or Nov 3 300/325//300/275 19.93 cr. Might want to check to make sure I did this correctly.
Good morning
Another up day in the market.
Options Bistro 