#ShortStrangles Added to the short side of my $RH strangle, sold Dec 29th 90 puts for 1.20 and 1.30.
Monthly Archives: December 2017
SVXY #ShortPuts BTC Dec22 70…
SVXY #ShortPuts
BTC Dec22 70 puts @ .15 83%
BTC Dec29 75 puts @ .40 80%
Unpacking these before year end, no remaining 2017 positions to deal with over holidays and “Gubment” wrangling, already seeing some defections re: tax bill debt sizing.
STO Mar 16 70 puts @ 2.60 adding to ladder. Thanks @jsd501
Yesterday and Today
Closed Early
$ROKU BTC 12/15 30/35 BUPS @ 93% profit
#spxcampaign Thank you @jeffcp66
$SPX STO 12/15 2635/2660 BUPS @ 3.00
$SPX STO 12/22 2635/2660 BUPS @ 8.70
#shortputs
$WUBA STO 1/19/2018 75 puts @ 5.50
VXXGame trades
#VXXGame Yesterday, Bought to close Dec 15th VXX 30 call for .55. Sold for 6.50 avg price in October.
Today, Bought to close $SVXY March 122 call for 16.20. Sold in a strangle for 19.35 on 10/27
Rolled to:
Sold SVXY June 85 put for 8.95
Sold SVXY June 160 call for 8.90
SVXY,APA
APA, STO July 32.5 puts @1.45, hat tip to iceman for the idea
SVXY, STO February16, 75 puts @2.15
SPX reverse roll
#SPXcampaign Stopped: $SPX Dec 15th 2680/2705 for 3.55. Sold in a #CondorRoll last week.
#ReverseRoll Sold Dec 15th 2660/2635 put spreads for 3.80.
Also, closed on GTC order:
Dec 15th 2610/2585 put spreads for .20. Sold for 3.40.
VRX
Closed down my VRX trade, that booger took off like DIS did! BTC VRX Dec29’17 16.5 calls for 5.15 sold these last week for 1.31. Sold my VRX Jan17’20 synthetic stock (+15call -15put +12put) for 8.90, I bought it on 11/07 for 2.72. Net gain of 1.53 on 10 contracts. Thanks Fuzzy!
Replaced with a #Fuzzy that Sue came up with, looks interesting. BTO TWTR Mar’18 +22call -22put +18put for 0.71, STO TWTR Dec15’17 22.5 calls for 0.17. Thanks Sue!
New all-time high in SPX
We’re off and running… Upside Warning going into effect at the close, provided VIX closes below 9.85
SPX Put spread
BTC 2410/2510 December 18, bull put spread @ .15 cents, sold @ 1.65
SPX puts
#SPXcampaign Sold to Open $SPX Jan 12th 2580/2555 put spreads for 1.50.
Closed on GTC order: Dec 29th 2500/2475 put spreads for .20.
SVXY
STO March 70 put @ 2.70 on 1 contract
STO March 75 put @ 3.25 on 1 contract
SPX hedge through March
With my current #RocketManHedge looking like it has a good chance of turning a decent profit ( in spite of moving against me from almost the first day) I’m adding another out about 90 days. This one is slightly more expensive since I’m setting up a little above the market but giving it a couple extra weeks to make up the difference.
#SyntheticShort -A little hedge out through March expiration…
Synthetic short stock with a protective call. 49.00 debit with max loss of 54.00:
Sold SPX MAR 16 2018 2670.0 Call @ 46.23
Bought SPX MAR 16 2018 2670.0 Put @ 51.97
Bought SPX MAR 16 2018 2675.0 Call @ 43.26
Need to collect 4.15 per week to cover the max loss so:
Sold SPX DEC 18 2017 2650.0 Put @ 5.40
Selling Monday and then looking to double up on the following Friday…
SVXY
STO March 65 put @ 2.20 on 1 contract.
NTES
#ShortStrangles – I tried doing one of these in ISRG yesterday but couldn’t get a decent fill. I definitely agree with @smasty ‘s view on the market makers in ISRG. They’ll squeeze you for every penny. So..I’m stealing one of her tickers that looks interesting with decent premium. My first time in this one as far as I can remember.
Going out a few weeks but definitely before next earnings…
Sold NTES JAN 5 2018 315.0/425.0 Strangle @ 5.50
12/11 Trades
Looks like it was a quiet day for a lot of people here.
1. May I please call these “Fuzzy” trades? I love them and I’m doing a lot of them (#SyntheticStock Diagonals w/ protection and hedge income—From now on known as #Fuzzies. To me, the Fuzzies have two stages, stage one is recovering the net debit of the trade; Stage 2 is recovery of the spread risk. I spent time this weekend looking at and scoring candidates. The “score” is basically the number of weeks of hedge income that it takes to accomplish Stage 1. The fewer the number of weeks, the lower the score. I’m looking for Fuzzies with a score of less than 5, less than 4 even better. I have a picture in my head of having a portfolio of 10 Fuzzies, each with $10 spread risk, bringing in 10-15K a week in income. So I’m testing these aggressively.
I have a TOS scan for finding high-return covered calls and puts, and it turns out it’s a good scan for finding Fuzzy candidates with low scores. Here’s the scan http://tos.mx/vKzR27
So back to Trade #1: CELG. I happened to catch a big bullish fund order for a Jan risk reversal, so a CELG #Fuzzy was my first trade of the day: Mar 110c/-110p/+100p, Dec 15 110 c. Net debit: 1.38 with a “Score” of approx 2.38 (2.38 weeks to cover the core debit)
2. Oh…here’s a nod to @hcgdavis for the Alpha Shark indicator. Got it. Love it. So scalped a bunch of /NQ today while taking it for a test run. Ended up +$305 on small-lot scalps. Enough to pay for the indicator 🙂
3. NTES. Now this was a franken-trade. It started as one 10-lot #butterfly. As it dropped added another 10-lot butterfly. Last week added a 3rd 10-lot butterfly. Was finally able to close it all out today for a $157 loss. Believe me, I’m happy with that!
4. #Bitties Closed! SPX x 20 lot, NDX x 10 lot. Got 50% target on all of them. The SPX bitties were 7DTE, so was happy to close them asap given the gamma risk. Net profit $1150.
5. Reset 17DTE SPX #Bitties. The Dec 27 2630/2625 for .85 cr x 20
6. NTNX I’ve been holding 703 shares, took 603 off for about $950 profit. Some day they’ll be acquired so I’ll always keep a hundred on. Great stock for swing trading, so will load back up on any dip. My max size position is 3000 shares, but I never seem to get the opp to add that many on.
7. QQQ #JadeLizard closed for 50% profit, this week’s expiration
8. SPY 266/267 #BuCS closed for 90% profit. This was bought based on #UOA (unusual option activity). SPY trades massive volume in fund flow, obviously—but it’s almost all put hedges. Every once in awhile a big bullish trade hits the tape, and those are ones for my attention.
9. NUE Closed a BuCS for 50% profit, this is another one that was bought on #UOA
10. NUE Opened a #Fuzzy Apr 60/60/50 for 1.87 core debit, Dec 15 62 call short for .56, Score is 3.3. There was a lot of bullish option flow on this today….all the way up to the 70 call line.
11 NUE spec trade based on #UOA bought 100 Jan 70 calls for .16, just looking for .21 as my target
12 MU #EarningsRunUp added two more calls to the trade from last week. Looking for 30% profit on these and must close before earnings announcement.
13 AMC #UOA There was unusual activity on AMC right before the other cinema merger happened last week. Turns out AMC confirms they’ve been approached too, regarding investment options. I’m glad I sold a few puts when I saw the fund flow. Netted 50%, $370.00 on a 10-lot
14. MSFT I like to layer on a lot of different MSFT trades. I love what they’re doing with Azure. However I saw a lot of January put buying today on MSFT, so I cut a trade short (#BuCS) for 28% profit vs. the 50% I was looking for. I still have on a MSFT #Butterfly that I’m watching closely. 80/85/90 for Feb.
15. ALGN This is the last of my trades from the tech crash. I defended it resulting in half what the max loss would have been. All closed now for $1150 loss. Classic case of thinking it would come back. Could have been handled better, but could have been handled much worse. I wouldn’t mind resetting with a #bitty or #PutRatioSpread the problem is that it’s just really thin. The Market Makers are not the worst I’ve dealt with (ISRG, KORS, ULTA are worse) but it’s still a struggle.
16. TWTR Opened a #Fuzzy in a 401K. I again saw some large bullish fund flow on TWTR and it had a good score. Mar 22/22/18 core for .78, sold Dec 22.5 call for .46, score is roughly 2. Not sure how this one will work out, but I’m still developing the perfect candidate profile for the Fuzzies.
@fuzzballl I hope you are ok being the namesake on these trades. It’s cute!
GILD
Rolled 11 DTE calls (covered) out to 28 DTE for 0.35 credit. Just holding through dividend then will let them be called out. Still have the LEAPs puts I will keep writing puts against. Definite skew to put side on this one now so will probably work out without the calls to write straddles on.
SVXY
STO January 19, 70 puts @.92
Taking TTD off
With today’s move up, I took the opportunity to close this position for around 75% of the max after having been underwater just 2 days ago. Didn’t want to risk a reversal with opex coming up on Friday.
Bought to close $TTD Dec 15 45 puts @ .35. Sold for 1.45 on 11/13.
Rolling XLK
Been fighting with this ever since I put it on but chipping away at it.
Original trade was a Nov 57/60 strangle. I rolled the puts up to 60 to create a straddle, then rolled the whole position to Dec. I just rolled it again to a Jan 60 straddle for .36 credit. Premium taken in so for is 2.54 with XLK at 63.96. I’m comfortable keeping the short delta in tech for now.
WYNN
#ShortStrangles – Won’t stop going up. Still no luck getting any stock so let’s go extreme. If I can get stock then I can work on rolling the calls up. In fact looking at spending some of this premium to roll the DITM calls up 5 points. That would leave the position at 170/140 inverted with about 28 dollars of premium received.
Bought to Close WYNN DEC 15 2017 160.0 Puts @ .53 (sold for 6.85)
Sold WYNN DEC 22 2017 170.0 Puts @ 6.03
Getting out of the ring with $M
Well one position at least. Been wrestling with this one since March. Sold puts at the 27 strike with the stock around 31 at the time. Rolled it 5 times and was left with the 27 puts expiring this Friday. With today’s move I’m finally able to get out of this for a profit. So I’m taking it and running.
Bought to close $M Dec 15 27 puts @ 1.38. Overall profit on position is .87.
I’m also short the Jan 20 puts which are mostly profitable.
EXAS
Bought to close January 18, 45 puts @1.20, sold @2.90
This stock seems to be breaking down so will look at it next year.
SVXY
#ShortPuts -Another one off the bottom…only one more of the pre-split positions left.
Bought to Close SVXY JAN 19 2018 37.5 Put @ .25 (sold for 1.10)
AAOI deep in the money roll
Rolled $AAOI Dec 15 75 puts out to Jan 19 for 1.20 credit with the stock at 39.11. With continued rolls, basis reduction on this so far is 11.09. After having quite a few positions on this stock since May I’m down to only 2–this problem child one and short March 22.50 puts. Stock has been profitable to trade this year. If I can’t stick the landing, I’m looking for at least a graceful dismount from this position soon.
SPX puts sold
#SPXcampaign Sold $SPX Dec 22nd 2260/2635 put spreads for 8.80. Another bullish position based on potential for Upside Warning hitting tomorrow.
SVXY
Replacing some expirations: STO for January 26,
SVXY, 60 puts @ .85
SVXY, 70 puts @1.23
SVXY, 75 puts @1.50
SPX long
#SPXcampaign Bought $SPX Jan 12th 2750/2775 call spreads for .45. I set up this spread as a potential to sell, but when I saw the low premium I decided to buy as a low risk shot at a run to 2700. This spread will sell for 5.00 or more if we get there by end of the month.
$C
BTC Dec 15 $72 puts @ $0.04, sold for $0.40
$DWDP
STO Dec 22 $71 #coveredcall @ $0.80, replacing call that expired last friday.
Notable Earnings AMC Mon/BMO Tues:
CASY, IRET, KMG, NX
Notable Earnings AMC Tues/BMO Wed:
MDB, PAY
Notable Earnings AMC Wed/BMO Thurs:
ABM, NDSN, PIR, SAFM, SCHL
Notable Earnings AMC Thurs/BMO Fri:
ADBE, COST, JBL, ORCL
Econ Calendar for week of 12/11/17
Be sure to periodically click “Home/REFRESH” above to keep Bistro features updated.
Items marked with a Blue Star are potentially market moving:
OptionsExpiration
Spent friday and saturday trying to get home from Florida, so just now getting a chance to post these.
$DWDP $71 coveredcalls
$SVXY $70 puts
$SVXY $80 puts
$SVXY $85 puts
$SVXY $90 puts
$UVXY $16 calls
$UVXY $17.5 calls
$UVXY $23.5 calls
$UVXY $30 calls
Hope you all had a great weekend.
#Algos attack ….. .Cryptocurrency now…
#Algos attack …..
.Cryptocurrency now …..this is just a test!
Before 5 pm tomorrow when futures on bitcoin start trading.
IMHO!!!!
SPX Campaign / Short Puts / Roll / Closing Fairy Tale
#spxcampaign
$SPX STO 12/20 2635/2660 BUPS @ 10.70
$SPX BTO 12/15 2665/2685 BUCS @ 2.72 Thank you @jeffcp66
#shortputs
$NFLX STO 1/19/2018 160/175 BUPS @ 2.70
Rolled
$CELG BTC 12/15 115 put @ 9.68 and STO 1/5 115 put @ 10.02
Closed Real Early
$SPX BTC 12/18 2665/2640 @ 11.00 STO yesterday @ 8.70
Closed Real Late
$NFLX BTC 12/8 190/195 BUPS @ 4.75. Saved enough for an early bird special tonight.
Closed Just Right ( A Fairy Tale Ending)
$EMR BTC 12/15 60/62.50 BUPS @ .05
Thank you everyone. Have a great weekend. First snowfall expected tomorrow in NYC area.
#bitty first bitty btc qqq…
#bitty
first bitty
btc qqq 149.50\140 put@ .39,.40 had sto @ .87 opened five days ago.
50% ish
thanks sue
$SVXY #coveredcalls rolled out Dec…
$SVXY #coveredcalls
rolled out Dec 08 $114 calls to Dec 15 $116 calls for 0.10cr, gain $2 for week long wait.
SPX – Final trades and expiration
#SPXcampaign The VIX ended th day on its lows, signaling the likelihood of a new Upside Warning next week. So I closed the two Jan 5th call spreads I sold this week, one with sufficient profit and one with a loss, but easy to roll next week.
Closed $SPX Jan 5th 2740/2765 call spreads for .40. Sold for 1.50 on Monday.
Closed $SPX Jan 5th 2705/2730 call spreads for 2.10. Sold for 1.50 yesterday.
#OptionsExpiration, closed 1/3 of this position for 11.50 on Wednesday, and now the rest expires at the max profit.
#Exercised: Dec 8th 2520/2540 LONG call spreads for 20.00. Bought for 3.50 on Nov 27th.
Expiration
CELG 101/99 107/109 IC
CELG 101/100
Have a great WE people
Have a great WE people
Expirations
Only 3 today but a lot more next week. Have a nice weekend everyone.
SVXY 60 puts
SVXY 65 puts,
SVXY 70 puts
snowing virtually here and in…
snowing virtually here and in real life outside 🙂
Everyone have a good weekend!
SVXY again
#VXXGame #ReverseRolls – Now that I’ve added some new put spreads with reverse rolls I’m taking off some others that were former reverse rolls. Really taking some risk off allowing some more sales if we ever get a pullback.
Bought to Close SVXY JAN 19 2018 100.0/95.0 Bull Put Spreads @ .79 debit (sold for 3.60)
I’ll take that since these were all rolled up calls at one point….good riddance!
SVXY
#ShortCalls #Rolling #ReverseRolling – This thing is relentless. I’m rolling some Jan short calls early. A combination of reversing into bull put spreads and rolling up and out. This gives March and June 120/105 bull put spreads with short calls above them. Is that a #CoveredBullPutSpread ?? 🙂 🙂
These add to some previous rolls to similar positions…
Rolled SVXY JAN 19 2018 122.5 Call to JUN 15 2018 165.0 Call @ .40 credit
Rolled SVXY JAN 19 2018 122.5 Call to JUN 15 2018 120.0/105.0 Bull Put Spread @ .50 credit
Rolled SVXY JAN 19 2018 125.0 Call to MAR 16 2018 140.0 Call @ 1.19 credit
Rolled SVXY JAN 19 2018 125.0 Call to MAR 16 2018 145.0 Call @ .29 debit
MGM
#SyntheticStock #IRA – Didn’t want to do this yet but ex-dividend today and ITM so taking it out a couple weeks to be safe. Should be the last one today…
Rolled MGM DEC 15 2017 32.0 Calls to DEC 29 2017 32.0 Calls @ .22 credit
WYNN
#ShortStrangles – Getting weak this afternoon so going ahead with the roll for another week. Still selling against DITM short calls. Raising basis on those. Another one I’ve been in all year just rolling around so let’s call it a #PerpetualRollingStrangles now. It’s in third place YTD trailing only TLT and NVDA in this account. Up 100 percent on margin. Overall SVXY and UVXY near the lead too as usual.
Rolled WYNN DEC 8 2017 160.0 Puts to DEC 15 2017 160.0 Puts @ 1.60 credit
SPX puts sold
#SPXcampaign Second and final standard spread for this week:
Sold $SPX Jan 5th 2570/2545 put spreads for 1.50.
SVXY UVXY VXX
#VXXGame – New ATH and ATL across the board…like a broken record or groundhog day…LOL
NVDA
#SyntheticStock – In an #IRA so can’t double sell. Need to close then open.
Bought to Close NVDA DEC 8 2017 195.0 Calls @ .03 (sold for only .48 since it was just 2 days.)
Sold NVDA DEC 15 2017 197.5 Calls @ 1.50
Been messing around with EWW
For most of they year, rolling and adjusting a strangle that went wrong. I just rolled it again and was able to widen it by 1 point, this time recapturing a good portion of the loss and hopefully ending this thing by January if it can finish anywhere near the strikes, if not between them.
Rolled $EWW Dec 15 51/53 strangles out to Jan 50/53 strangles for .41 credit.
#spxcampaigne BTC 2455/2555 BuPS 18…
#spxcampaigne
BTC 2455/2555 BuPS 18 DEC 2017 for $0.55 sold it yesterday for $1.30
STO 2485/2585 BuPS 22 DEC 2017 for $1.70
I have been milking this for a while. Milked it again today for $1.70
12/8 Happy Friday
1. NVDA: Fully closed the #JadeLizard sold for 3.62, partial cover at 1.62 yesterday, rest covered today at 1.35
2. BA: Closed the contrarian BePS, closed for .66 shy of full loss. Prob of touch is still high enough I should have held, but it’s just continuing to be a train.
3. LRCX: Closed the #PutRatioSpread for over 50% gain, 1.45, $1555.00. Recovery mission on big loss last week.
4. MSFT: #Bitty closed for 50%, this was Jan 80/75 BuPS for .82 cr, covered .41
5. SPX : I’m kind of thinking we see a strong market into next week’s expiration, so rolled the short puts on the #RocketManHedge from 2605 to 2625. Realized $2820 in the roll.
6. SPY: Opened #SpikedLizard for January. Part 1: 264/265/267 for 3.74 cr Part 2 (spike) 260/253 ratio put spread for .05. No upside risk, downside BE is 253 due to the spike. Need SPY price above $260 for meaningful profit. 50% target. I’d like to ladder these every 2 weeks.
7. SPX: Opened 7DTE #Bitty I said I didn’t want to do 7DTE Bitties any more, but betting we see an upside into next week’s expiration. Of course I could be all wrong. Got more credit than usual on these. Dec 15 2630/2625 BuPS for average price of .875 credit, 50% target
8. TXN: Opened BuPS for January 97.5/95 for .72, 50% target
9. TJX: Continued defense. Sold Dec 15 calls to adjust deltas
10. MU: Opened #EarningsRunUp trade based on historical backtesting. Partial position. Dec 22 47.5 call for 1.04.
11. PIR: Closed #EarningsRunUp trade for 28% profit, bought at .35, sold at .45
12. ABBV: Opened #BuPS for January 92.5/90 for .56, target 50%
13. FLIR: Opened #SyntheticCoveredCall for January 47 puts for 1.40, very high historical win rate on short puts for this company
14. BBY: Closed the contrarian BePS for loss, salvaging .60 from max loss
15. AAPL: I already have a BuPS on for next week, used this little upswing today to sell calls converting it to an #IronButterfly.
SPX calls closed
#SPXcampaign Sold these only yesterday, but no reason to sit and watch them go further in the hole. Based on today’s action I’m expecting more upside next week so I’m not letting call spreads ride.
Closed $SPX Dec 18th 2640/2665 call spreads for 12.40. Sold yesterday for 8.75.
#ReverseRoll Sold Dec 20th 2660/2635 put spreads for 10.55. I’ll add another put spread later to make up difference.
Closed on GTC order:
Dec 22nd 2510/2485 put spreads for .20. Sold for 1.45 on Nov 22nd.
WDC
#ShortStrangles #ReverseRolling – Screwed the pooch on my roll to inverted by being impatient so reverse rolling calls into low risk put spreads for a credit. Going directional since it’s one I wouldn’t mind trading around for awhile. Went inverted on the original strangle WAY too early.
Rolled WDC DEC 29 2017 79.5 Calls to JAN 19 2018 85.0/80.0 Bull Put Spreads @ .43 credit.
This is another one of those where it doesn’t really matter to me how low it goes. With 3.80 of accumulated premium on the 5 wide spread the worse case scenario is owning the stock at a basis only 1.20 above where it happens to be at expiration…(as long as I book the long put gains late on expiration day and let the shorts get exercised)
Still holding short 82.5 puts from original strangle….
BIDU
#SyntheticStock #IRA – Weekly sale not quite going to expire today…
Rolled BIDU DEC 8 2017 235.0 Calls to DEC 15 2017 240.0 Calls @ .40 credit (4.85 accumulated premium on this one)
SVXY
#ShortPuts – Bottom of the Jan ladder starting to get taken out…
Bought to Close SVXY JAN 19 2018 35.0 Puts @ .25 (sold for 1.28)
TOS range bars
Thank you @hcgdavis for pointing these out! Even without day trading I think these are going to help a lot with entries. Had I been watching them could’ve easily waited a little before selling that SPX put. When red turns green sell it!
BTW…just swing trading the second bar of a color change on a slow mover like BIDU since Dec 1st would’ve made (you do the math) on 200 shares. I know…woulda coulda shoulda but something I’ll be watching…especially for catching some reversals on XIV and SVXY on those crazy days.
SPX
#RocketManHedge – Booking and selling…this sale completes the covering of max loss on the hedge with another month to run. After this I’ll start giving it a little more downside room. Make a little but keep a strong hedge though Jan expiration.
Skipping Friday since it only trades thru Thursday close. Selling the following Monday instead.
Bought to Close SPX DEC 8 2017 2625.0 Put @ .15 (sold for 7.10)
Sold SPX DEC 18 2017 2625.0 Put @ 5.40
EWZ
Sold EWZ Dec15’17 40.5 calls at 0.29. Wish I’d sold them on Wednesday but my crystal ball was broke.
Another LONG SPX
#SPXcampaign Since I have a long $SPX spread expiring at full profit today, adding a new one with the possibility of a further rally shaping up for next week.
Bought SPX Dec 15th 2665/2685 LONG call spreads for 3.00.
Also, closed on GTC order:
SPX Dec 22nd 2495/2470 put spreads for .20. Sold for 1.45 on Nov 21st.
TEVA Covered Calls
Sold $TEVA Jan 19 17.50 calls @ .53
Futures UP
#Markets #SPXcampaign Jobs report surging the markets higher. If the day remains positive and VIX drops, we are setting up for a new Upside Warning next week. This could mean a rally toward 2700 into the end of the month, which is typical for December. I’ll be watching to once again #ReverseRoll call spreads and get long.
November JOBS report
+228,000 non-farm payroll jobs, vs 200K expected
Unemployment holds steady at 4.1%
U6 unemployment up one tenth to 8.0%
Wages up 0.2%, one-tenth below estimates, totaling +2.5% for the year
Labor force participation holds at 62.9%
Today’s Trades
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.
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.
Options Bistro 