STO SPX Dec 29 2650/2645 .15
With just a couple trading days left in the year, my focus today was getting fuzzy rolls completed on anything in-the-money that might be exposed to early assignment due to end-of-year activity.
1. CELG BTC Dec 29 106 c for 1.60, STO Jan 12 107 c for 2.70. Yep….big fake out on this. What was firmly ITM this morning quickly became OTM right after my roll. But that’s why NOT legging the roll benefited me. Crappy price on closing out the 106, but fantastic price on the 107. Roll out and up.
2. DWDP There was some really unique bullish UOA on this yesterday, so I took the risky move of removing my hedge so this can run unfettered. BTC Dec 29 71.5 c for .45, currently unhedged.
3. CSX BTC Dec 29 54 c for 1.26, STO Jan 12 55 c for 1.21, roll out and up.
4. New Fuzzy CVX Jun 125/125/115 for 2.33, Jan 12 127 calls for -.94
5. FAS hedge was down to about .04 so I wanted to get a straight-across roll for .80 to Jan 12, the executed roll-spread numbers were all over the place, but they netted out to my .80 credit for the roll.
6. IWM: Dec 29 153 BTC for .96, Jan 5 154 STO for .96….got $1.00 for nuttin’. Roll out and up.
Fuzzies that still need managed this week:
JPM (in the money)
#SPXcampaign Missed the top and never got an afternoon bounce. So I sold this when we were flat-on-day.
Sold $SPX Jan 26th 2740/2765 call spreads for 1.85.
Closed on GTC orders:
Dec 27th 2665/2640 put spreads (yesterday)
Jan 5th 2570/2545 put spreads (today)
$AMZN STO 1/19 2018 1110/1130 BUPS @ 2.10
#SyntheticStock – Squeezing and looking like it wants to go up. Questionable when earnings are but hopefully after where I rolled this. Sitting on a nice profit and picking up another .64 of upside here. May close it all with a break above 35 into the open sky.
Rolled MGM DEC 29 2017 32.0 Calls to FEB 2 2018 32.5 Calls @ .14 credit
STO the Jan 19 260/256 put credit spread at 0.21 and the call side at 272/276 for 0.30 credit. 5 contracts so $255 credit. Goal is about $140 per week for a double in a year. Closing the Jan 5 yesterday was a $160 profit so above the goal so far. We will need some extra cushion for the adjustments.
I closed my Jan 5 IC yesterday, today there are better prices at 0.03 and 0.05. My goal with these is to close them before they can get into too much trouble with the gamma risk. But if you are following up to you whether to close/roll or let expire. I personally have seen too many good profits slip away close to expiration so my plan is a rolling ladder 1-4 weeks out and will close a week or 2 before expiration if I have a profit. I am also looking at my alphashark bollinger band charts to leg in and out, looks flat for a while (momentum sitting right at zero) so opened the IC today 23 DTE.
The account was originally $7140. When it gets to 8k will add a contract, basically every 1k added will add a contract for compounding. Cash value $7555 today so in another few weeks should be able to increase contract size to 6.
No other trades for me until tomorrow and Friday, just need to sit on my hands and let theta decay work its magic.
Rolled TLT JAN 19 2018 121.0 Calls to FEB 16 2018 121.0 Calls @ .22 credit
Rolled TLT JAN 19 2018 123.0 Calls @ FEB 16 2018 123.0 Calls @ .37 credit
And closed a little bonus trade:
Bought to Close TLT JAN 12 2018 125.0/130.0 Strangles @ .64 (sold for 1.35)
Earlier today BTO DWDP Mar’18 +72.5c -72.5p +70p for 0.95. I’m gonna wait to sell against this one, it’s in a tight volatility squeeze, hoping to see a pop. Thanks Sue! and Fuzzy for contributing.
Yesterday from the DIA, sold Feb. 16, 24 straddle, for 3.44
#ShortStrangles – Still selling…
Bought to Close AAOI DEC 29 2017 41.0 Calls @ .05 (sold for .85)
Sold AAOI JAN 12 2018 40.0 Calls @ 1.10
#SyntheticStock – With only half size position in BIDU I’m adding half size in BABA. This all adds up to full size position for China…LOL
Bought to Open BABA JAN 17 2020 175.0 Calls @ 34.72
Sold to Open BABA JAN 17 2020 175.0 Puts @ 29.06
Bought to Open BABA JAN 17 2020 170.0 Puts @ 26.42
This gives a net debit of 32.08 for the Jan 2020 position. Add the 5 point max downside and get a max loss possibility of 37.08. Based on that, and the 107 weeks remaining in the trade I only need to average about 35 cents per week in sales to cover the absolute worst case scenario. And…BABA has great weekly premium.
Sold BABA JAN 5 2018 177.5 Calls @ 1.25
Att bad CEO is laying people off, instead of hiring especially with “the new tax 20% bill”. Am I missing something. Either the CEO should get the boot, or there is something with the new tax bill that we do not understand?
$NTNX STO 1/19/2018 35 put @ 1.22 Thank you @honkhonk81
#SyntheticShortStock – Rolling short puts out and down to unlock max profit on current position. After the next split will add new shorts in 2019 and 2020 so these puts should be just a small blip on the radar when it’s all said and done.
Rolled UVXY JAN 18 2019 10.0 Puts to JAN 17 2020 5.0 Puts @ 2.74 debit
$MZOR BTC 1/19/2018 60 put to 2/16/2018 60 put at additional 1.30 credit.
$WYNN STC 1/19/2018 140/155 BUCS @ 14.50 BTO 10/27 @ 5.80. Squeezed out 94% of max profit.