This working for a living thing is really cramping my ability to trade and post.
At lunch today I was able to place a couple of trades that filled this afternoon. Took a little risk off the table and booked some profits just in case tomorrow got ugly.
$EA BTC Dec 15 $101 puts @ $0.60, break even, don’t like the way the these stocks have been trading.
$FB BTC Dec 15 $170 puts @ $0.38, sold for $0.93, still have more sold at $1.72
$UVXY BTC Dec 8 $12.5 calls @ $0.55, sold for $1.20 as part of a $12.5/$13.5 spread. Closed the $13.50’s for a small profit yesterday, never got a chance to post.
Daily Archives: Thursday, December 7, 2017
SPX Campaign / Short Puts / Long Calls / Short Calls
#spxcampaign
$SPX STO 12/18 2665/2640 BECS @ 8.70
$SPX STO 1/5/2018 2730/2705 BECS @ 1.55 Thank you @jeffcp66
#shortputs
$BA STO 12/29 270/275 BUPS @ 1.00
$GS STO 1/19/2018 230/240 BUPS @ 2.06 Helping pay for
#longcalls
$GS BTO 1/19/2018 245/255 BUCS @ 4.20
$IWM BTO 1/19/2018 154 calls @ 1.60 Dr Science idea at OMM
#shortcalls
$LABU STO 12/8 73 calls @ .90 (covered)
For you falling knife traders,…
For you falling knife traders, looks like SWKS finally put in a bottom the last 2 days.
Imagine This
@fuzzballl —- Imagine a room full of 10 talented beautiful women option traders debating the merits of your #syntheticstock diagonals. Some of the women like the LEAP setups, some don’t (me). My thought is if there’s a melt up move on bullish setups, I’d rather close everything (for profit) than roll short-dated positions for significant debits. If I expect a full close in 3-4 months, why do LEAPs . All of these women say “thank you” by the way for your ideas and posts.
Sue
ADSK
#ShortStrangles – An #Earnings play that turned into strangles. Oversold the call side and now seeing a nice bounce. Booking this week’s.
Bought to Close ADSK DEC 8 2017 111.0 Calls @ .27 (sold for .85)
SVXY
STO February 16, 55 puts @1.30
AAOI
#ShortStrangles – If there’s one thing I’ve learned this year (it’s lead to my 3 biggest losers of 2017) is to not chase short puts up on a rising stock too aggressively. A massive whipsaw can ensue leading to chaos. OK…maybe that’s a little dramatic but…making a big adjustment, limiting downside risk, and settling in for the long haul of selling weeklies to get back to at least even.
Rolled AAOI JAN 19 2018 80.0 Puts to JAN 18 2019 80.0 Puts @ 5.17 credit
Bought AAOI JAN 18 2019 20.0 Puts @ 3.20
Pocketing nearly 2 bucks on the roll/protection. Now…I’m limited to a 60 point loss and I’m free to sell non-aggressive weeklies without worry of max loss (bankruptcy?…don’t trust these types of places)
So far I’ve accumulated 25.40 in premium to this point so still 34.60 in the hole if it goes to zero (less than that if it recovers over the next year). Using the 34.60 as max loss and 58 weeks to I’ll be looking to sell about 60 cents a week. It’s a long haul but worth it to turn around a loser if I can.
BTW…TDA margin is 975 on 3 contracts to hold this trade so not a big deal..
Opening trades:
:
SPX: #rocketmanhedge thank you @fuzzballl Feb +2635 put, -2635c, +2640c for 40.15 net, -Dec 2605p for $5.40, Basis = 34.62.
COT: Last month there was a day with 4 large block trades totaling over 4 million in shares. It sparked a lot of call activity. I’ve been waiting for closer to 13f releases for Dec to see if call activity picks up again, it sure did today, so I have a little spec play on for COT for next week. 17.5 calls for .34
MAR: #JadeLizard for next week Dec -126p/-130c/+132 c for 1.21 net cr, 50% target
TJX: Added #BECS to #BUPS to convert to iron fly for defense
Closing Trades:
BA #Bitty Closed at 50% target, sold at .50, bought at .25
TTWO #BUCS Bought 2.65 sold 3.10 net .45/contract
FB #shortputs covered for 50% Sold at 1.10, covered at .55
NVDA #JadeLizard from last week is beginning to cover for 50% Sold 185/205/207.5 for 3.62, cover order is partially filled at 1.62
PCLN
BTC December 15, 1550/1950 strangle @ .65 cents. Sold @ 6.80 thanks to Fuzzball for the idea.
SWKS rolled 22 DTE 107…
SWKS rolled 22 DTE 107 call to 104 at 36DTE for 0.75 credit.
Rolled the 104 22 DTE put to 36 DTE 104 put for 0.4 credit.
Now have straddle at 36 DTE at 104 and strangle at 102/107 29 DTE.
May have to invert if it keeps dropping but more likely pick up some leaps just to release some margin. Can get $ 7 credit for the ATM straddle now 29-36 DTE, would be quick to cover the leaps.
Wont decide until after my bike ride.
BTC (Bitcoin)
SPX calls sold
#SPXcampaign. Filled on two call spreads on the spike to new HOD:
Sold $SPX Dec 18th 2640/2665 call spreads for 8.75
Sold $SPX Jan 5th 2705/2730 call spreads for 1.50
AMZN spread
BTC AMZN December 15, 810/850 bull put spread for .05, sold at 2.30
Just taking risk off the table and freeing up margin.
#spxcampaigne BTC 2425/2525 BuPS 15…
#spxcampaigne
BTC 2425/2525 BuPS 15 DEC 2017 for $0.65
STO 2455/2555 BuPS 18 DEC 2017 for $1.30
I have been milking this for a while
.SPX Spreads
BTC 2425/2525 bull put spread @ .60 cents, sold @ 2.00
I don’t do many of these but they can be fun from time to time.
Trade day
Rolled a bunch of small SVXY positions, 100 puts this week to 15 DTE for credits of 1.85, 1.89, 1.88. Sold for 4.2, 4.05, 4.15 on last vol bump.
Rolled TQQQ 120 puts from tomorrow to 15 DTE for 1.49 credit. Sold for 1.35.
Even on a big down week with WDC, SWKS and still adjusting GILD made $3482, just have to love theta decay! Down on the computer screen but net worth still climbs.
1 week DTE for you other Stars Wars fans out there! And there should be skiing in the mid atlantic next week, finally cold enough 🙂
Nothing else for me until next Thurs. Lots of expirations next week. Hope everyone has a good close to the week and a fun weekend!
SPX Campaign and Covered Call Closed Early / Short Puts
Closed Early
#spxcampaign
$SPX BTC 12/8 2555/2580 BUPS @ 92% profit
$SPX STC 12/8 2620/2640 BUCS @ 12.00 BTO 11/27 @ 3.25 Thank you @jeffcp66
#coveredcalls
$SQ BTC 12/15 50 call @ .05 STO @ 2.17
#shortputs
$EXAS STO 12/15 put @ 2.40
FB covered calls
#CoveredCalls #LongStock
On Tuesday, closed $FB Dec 15th 185 call for .15. Sold for 1.53 on Nov 24th.
Today, sold Dec 29th 182.5 call for 1.60.
AVGO
$ShortPuts – Selling the put side on the little dip and looking to leg into the #ShortStrangles . Fairly short time frame with a holiday mixed in and could be a little residual IV left over from earnings also.
Sold AVGO DEC 29 2017 250.0 Put @ 1.90
AVGO
#Earnings – Taking advantage of the little pullback to book the winner. I might be early…or not 🙂
Bought to Close AVGO DEC 8 2017 255.0/265.0/275.0 Iron Fly @ 5.69 (sold for 7.82)
DUST another call
#ContangoETFs. Filled at the bell: $DUST March 44 call for 1.25. It was the highest strike a couple days ago, but now they’ve added the 45.
More DUST calls
Some new strikes have been added. Sold:
$DUST Mar 16 2018 45 calls @ 1.20 (new highest strike)
$DUST Jun 15 2018 45 call @ 2.80 (new highest strike)
$DUST Jan 18 2019 50 call @ 5.20 (adding at highest strike)
Options Bistro 