#spxcampaign
$SPX STC 1/12 2750/2775 @ 9.00 BTO @ .93 Sold 1/3 of position. Thank you @jeffcp66
#shortputs
$NTNX STO 1/19 37.50 puts @ 1.15 Thank you @honkhonk81
Daily Archives: Tuesday, January 9, 2018
Jan 9 #Fuzzy Trades This…
Jan 9 #Fuzzy Trades
This was a REALLY busy day. Let me start by saying these first 6 trading days of the year have been just amazing. Pinch-myself-amazing. So I’ve starting peeling some things off. Fuzzies that have upcoming earnings, or have had a lot of debit rolls and were yet again ITM just got yanked today.
1. Let me start with SPY….I no longer can account for where I am in the core debit reduction on my collective SPY trades. Hedges and unhedges are flying around my office like Chinese throwing stars. The best measurement I think is just nightly P/L updates on SPY until I’m flat.
SPY YTD: $4883.00
I still have 40 SPY Fuzzies that are hedged, and I may look to peel those off tomorrow and go flat, preparing for a reset.
2. CVX calls were down to about .20 extrinsic, time to roll. BTC Jan12 127 c 1.71, STO Jan 26 128c 1.77.
3. FAS (x20) same as above on extrinsic. BTC Jan 12 70c approx 2.40, STO Jan 26 72 c approx 1.87
4. DIA bought 15 unhedged fuzzies yesterday for trend trade, sold today for net $840
5. LMT facing another large debit roll and upcoming earnings, and protective puts increasingly farther away, closed 20 of these today for net profit of $5191.00. Anxious to reset with tighter puts in spread and distance—beautiful fuzzy!!
6. IWM same story as above, net profit is $2627.00
7. MU used the AS-BB osc to close a hedge for $1430.00 profit at osc low, then re-hedge. BTC Jan 26 47 c @ .54, STO jan 19 46 c @.47
8. RCL has had terrible technicals for weeks, used today’s strength to play against significant profit taking in other positions and remove this for loss. Net loss $1670.00.
9. EXAS Hedged 1/2 of my 20 fuzzies before their presentation this afternoon at the JPM medical conference STO Jan 19 55 calls @.75. The other half is still long term focused w/o hedging.
10. MNST so much for “Lazy River Fuzzies” BTC Jan 12 64 c for 1.34 STO jan 26 65 c for 1.32, got a buck for .02.
Fun Stuff
New Fuzzy: CRM Feb 110/110/105 for .32, sold Jan 19 110c for .74. Used Feb to avoid earnings. You read this right, the first-round hedge has already covered the cost of the core trade.
Really Fun Stuff:
FUZZY BEAR
COST Fuzzy Bear STO Feb 190call/BTO Feb 190p/BTO Feb 195c x 5 Unhedged 3.99 debit I put this on when underlying was trading close to 188 today, so there is nice profit. It’s very quickly approaching support, will need to play chicken with a hedge decision on this. Looked like squeeze would fire “bear” to me.
KMB Falling Knife-ish
Sold $KMB Jul 20 100 put @ 1.25 with the stock at 116.80. Price hasn’t been at the strike since Oct 2014.
#shortputs Rolled Jan. 19 45…
#shortputs
Rolled Jan. 19 45 put to Feb. 16 45 put for .84, originally sold Dec. 17
Added a hedge to SPY…
Added a hedge to SPY STO Jan 12 278 call .32
Rolling AMZN covered call
With the stock just breaching the strike I’m rolling the Jan 19 1250 covered call out 1 week and up 5 points to Jan 26 1255 call for 3.90 credit. The Jan 26 expiration is still pre-earnings.
Selling some premium in XBI
Sold $XBI Feb 16 81/91 strangle @ 1.84. Leaning a little bearish, thinking the bounce won’t push XBI above its all time highs.
Sold partial of SPX long
#SPXcampaign Sold a third of my LONG $SPX Jan 12th 2750/2775 call spreads for 10.45. These were bought for only .45 back on Dec 11th. I’m keeping the rest until Friday’s expiration.
XBI
Here’s a new one I’m trying. Biotech scares me a little bit but the premiums in this ETF look very rollable and juicy. I’m leaving it unhedged (unhinged?) for now. I like that you don’t have as much worry about earnings on an ETF, I’ve been closing stock-based Fuzzies in anticipation of earnings releases.
BTO XBI Jun’18 +88calls -88puts +83puts for 3.20.
AAL covered call in small…
AAL covered call in small account. Feb 2 CC at 52.5, just 2 contracts. Debit of 50.91. Making some money on @fuzzballl company.
#spycraft update. For those still in the trade you should be making good $ now. I closed out yesterday at a 125 loss on 5 contracts. With the vix being so low and the parabolic market at the moment (i thought the new years goofy juice would have run out by now) I am going to hold off on additional trades at least until we have a pause, a slight pull back, some volatility or at least not a 1 sided parabolic move. I think any short strike in SPY right now is going to exceed the expected move (probably to the upside) and just require a bunch of adjustments.
I want to make money, don’t need to be right but the risk is not worth the reward at the moment on credit spreads and IC on SPY or any of the other indexes. I will find an edge in individual names until the volatility returns and earnings will help that. Even a vix of 12 would be appreciated at the moment!! Is that asking too much?
MYL
#Fuzzy My short calls capped the advance of profit on this one IF earnings are on 02/05/18 lol. I thought MYL would be nice and move sideways for a bit while I harvested premium but NOPE. So…
STC MYL Apr20’18 +42.5c -42.5p +40p for 3.77, BTC MYL Jan19’18 43.5 calls for 1.93. After all said and done made $280 on this trade opened 12/26/17. Nothing to write home to Ma about but better than losing!
SPX closures
#SPXcampaign Closed on GTC orders:
$SPX Jan 26th 2605/2580 put spreads for .20. Sold for 1.45.
$SPX Jan 16th 2700/2675 put spreads for .30. Sold for 4.75.
#spxcampaign STO SPX 23 FEB…
#spxcampaign
STO SPX 23 FEB 18 2650/2550 BuPS @5.00
VRX
#Fuzzy I don’t see the point in trying to do a bunch of finagling to try to squeeze a little more juice out of this one before earnings on 2/06/18 so:
STC VRX Apr’18 +20c -20p +17p for 4.19, BTC Vrx Jan12’18 22.5 call for 1.33. After all is said and done cleared $2055 on the trade which I entered on 12/15/17. VRX has been kind to my account a couple times, I may hitch a ride again after earnings.
#earningstrade STZ Starting to cooperate,…
#earningstrade STZ
Starting to cooperate, almost back to 220
ISRG
#ShortStrangles – Going straddle for Friday.
Rolled 370 put up to 400 @ 8.60 credit.
Now sitting at 400 Straddle @ 17.35
Breakeven from 382.65 to 417.35
good morning
good morning
Good morning
Another up day in the market.
Options Bistro 