The latest conundrum…

A lot of monkeys lived near a village. One day a merchant came to the village to buy these monkeys! He announced that he will buy the monkeys @ $100 each.

The villagers thought that this man is mad. They thought how can somebody buy stray monkeys at $100 each? Still, some people caught some monkeys and gave them to this merchant and he paid them $100 for each monkey. This news spread like wildfire and people caught monkeys and sold them to the merchant.

After a few days, the merchant announced that he will buy monkeys @$200 each. The lazy villagers also ran around to catch the remaining monkeys! They sold the remaining monkeys @$200 each.

Then the merchant announced that he will buy monkeys @$500 each! The villagers start to lose sleep! … They caught six or seven monkeys, which was all that was left and got $500 each.

The villagers were waiting anxiously for the next announcement. Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @$1000 each! He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.

The merchant went home. The villagers were very sad as there were no more monkeys left for them to sell at $1000 each. Then the employee told them that he will secretly sell some of the monkeys @$700 each. This news spread like wildfire. Since the merchant now buys monkeys @$1000 each, there is a $300 profit for each monkey.

The next day, villagers made a queue near the monkey cage. The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!

The villagers took care of their monkeys & waited for the merchant to return. But nobody came! … Then they ran to the employee but he had already left, too!

The villagers then realized that they have bought the useless stray monkeys @ $700 each and are unable to sell them!

Now you understand how Bitcoin works.

Well with that solved, back from PSP and ready to go to work…LOL

Jan 10 #Fuzzy part 2…

Jan 10 #Fuzzy part 2
It’s not Friday yet? Another crazy day. Already reported a few trades this morning, that seems like days ago. It’s warm enough in Denver to light an afternoon fire on the patio, problem is we’ve had almost zero snow–so I don’t want an errant spark to burn down the adjacent field.

1. SPY update: $4753 YTD, Still have 40 Fuzzies all hedged
2. All the (45, not 40) Q Fuzzies got hedged with Jan 19 162.5 calls @ .85-.86 cr
3. TGT new Fuzzy Feb 70/70/67.5 @2.26 Jan 19 71.5 call @.98
4. IWM 20 new Fuzzy 154/154/151 @2.88 Jan 19 155.5 call -.66 (OI is big on the 155 line for next week)
5. IWM 20 new Fuzzy 155/155/152 @ 2.35 Jan 19 155.5 call -.73
6. CMCSA BIG BIG BIG UOA on this 15 min before the close (that’s when those sneaky hedgies do it) so I very quickly unhedged this to fly free BTC jan 12 40.5c .58

The biotech Fuzzy experiment behaving well today, driving fresh new highs across the board.


Scrolling through my watchlists looking for some #Fuzzy candidates. Here’s an interesting one.

Going out to Jan 2019 a 23/23/20 is only 3.55. Max loss 6.55 with 53 weeks to go. With the crazy premiums in this thing you could almost have that risk covered in 5 or 6 weeks. Then…let it ride un-hedged as a freebie. Otherwise, just 12 cents a week to cover a trip to zero…

SIG #FallingKnife Didn’t see this…

SIG #FallingKnife
Didn’t see this was filled earlier.
Sold $SIG 7/20 35 put @ 1.35.


#SyntheticStock – Nice base being built here and entering a squeeze. Adding small in the only account without biotech exposure.

Sold AGN JAN 18 2019 175.0 Puts @ 18.73
Bought AGN JAN 18 2019 175.0 Calls @ 18.78
Bought AGN JAN 18 2019 170.0 Puts @ 16.57

This gives a net debit of 16.62 for the Jan 2019 position. Add the 5 point max downside and get a max loss possibility of 21.62. Based on that, and the 53 weeks remaining in the trade I only need to average about 41 cents per week in sales to cover the absolute worst case scenario.


Sold AGN JAN 19 2018 180.0 Calls @ .73

SPX puts sold

#SPXcampaign Sold to Open $SPX Feb 9th 2660/2635 put spreads for 1.55.



STO XBI Jan19’18 90 calls for 0.54. Sold these against the XBI #Fuzzy I opened yesterday