$SVXY $65 puts
Other trades today
Closed Jan 12 $UVXY $8/$9.5 call spreads @ $0.60 (sold for $0.75) made lunch $
$DWDP Rolled #CoveredCalls from Jan 12 $71 to Feb 2 $71.50 for even, last of my stock so holding a bit longer
$RCL Rolled #CoveredCalls from Jan 12 $125 to Jan 26 $127 for @0.61 credit.
Sizable position so letting it run the distance.
HIMX 11.5 calls (sold for .27)
Jan. 19 170/175 BuPS for .60
This was a busted #ShortStrangles that I turned into a #CoveredCalls position. After selling for quite a few weeks I’m using this bounce to book it for a .10 loss. Happy to be out and freeing up some room for earnings season.
Sold to Close SWKS Covered Stock @ 99.23 (bought for 99.33)
Took the cue from @fuzzballl and closed one of these (I originally had 2). Can’t make a whole lot more on this since we’re getting closer to zero on the stock.
Closed $UVXY Jan 2019 positions:
Long 30 put, Short 30 call, Long 40 call for 23.91.
Bought for 17.10 on Aug 17th.
That’s a $6.81 profit, BUT I also lost $818 total in the attempt to sell short-term puts. Since I had 2 positions, that’s a $409 loss for each, so profit on this one is $272.
As for the other one, I previously closed the call spread for 1.60 (on Dec 20th), and I put in an order to close the remaining long put for 24.50, which price is already near. That would mean a $171 profit on that half.
I am keeping my $VXX version of this open, since the stock is still at 25.75 so my long 20 puts still have a lot to gain. I have closed a third of my short call spreads, and I added more long puts “naked” anyway, so I’m long 18 puts, currently at 4.68, average purchase 1.77. I lost a bigger bundle on the sale of short-term puts on VXX, but my ending profit on the long puts will make up for it and them some.
I will look to do this again when they launch $VXXB with the 2020 LEAPs. But that time, I will skip the #Fuzzy hedging and just go with the synthetic short.
Only 4 expirations today. I wonder if the big boys are waiting for after the nest expiration to try and sell this market.
SVXY: 60 puts,65 puts,70 puts, and 75 puts.
#ShortPuts – In my “SVXY only” account that has done absolutely nothing this year…I’ll follow @hcgdavis ‘s lead and try to shake things up a little. Sort of a #TakeOneForTheTeam trade…
Sold SVXY FEB 2 2018 120.0 Put @ 2.31
Sold SVXY FEB 9 2018 120.0 Put @ 3.20
#ShortStrangles #CoveredCalls – There was a method to my madness…LOL Turning inverted strangle into a covered stock position.
Current position is 435/415 Inverted Strangle @ 19.35 credit.
Rolling the 415 call out a week to 420 for a small .35 debit and taking the stock at a 416 basis. Should work nicely with earnings the following week and bigly premium available.
#SyntheticShortStock – Next split has to be soon so I’m now fully loaded after closing the short VXX the other day. I’ve rolled my short puts out to 5 strike 2020’s. I’ll probably ride those into the ground unless we get a huge spike but should easily be offset by this position and should be able to ride 2019’s down again and 2020’s at least twice. I’ll roll them another year if I can but not sure if we can roll when they become “post split” options.
Sold to Close UVXY 30/30/55 Synthetic Short Stock @ 23.47 (bought for 14.91)
This was all just a big experiment when I first suggested it back at the last split. I’d have to say a stress free huge success along with the VXX short!
Dream big they say!
BTC March 35 puts @.05, 2 months early, sold @ 1.40 when the credit unions tanked.
Jeff I have a fellow wants to join you. How can he do that?
Taking this position off before expiration next week. The stock was below the strike as recently as yesterday so I decided to close it for 65% of the max profit.
Bought to close $HSIC Jan 19 72.50 puts @ .35. Sold for 1.00 on 8/9.
Rolled Jan. 30 put to Feb. 30 put for .99
$SPX BTC 1/17 2705/2730 BUPS @ .20 STO 1/5 @6.25 97% of profit Thank you @jeffcp66
Rainy day here, had planned to go skiing as I have the day off but no fun when 65 degrees and raining, so stayed home and traded.
#vxxgame SVXY closes, rolls and take a few for the team. By going directional now the market should reverse which will help some of my other trades 🙂
SVXY BTC Jan 19 50 put for 0.04 and 55 put for 0.05. Sold at 1.27, 1.37, 1.14
BTC Jan 19 80 put for 0.11 sold for 1.14
STO SVXY Feb 9 125 puts for 3.90. I have feeling these will get tagged, that’s may hope anyway, a reverse hedge for some of my other positions. If this one does not do well will still make $ on the others then.
TQQQ rolled Jan 26 120 put to Feb 16 140 puts for 1.90 credit. Sold for 1.25
BX Closed out #fuzzy Jan 2019 25 Jan 18 33 diagonal and made a whopping 108 profit, it was 318 but the bid-ask on the options on this one do not trade well. BX is not a good trading name-just FYI. However, had I done a CC it would have closed next week at full profit, see @smasty160 fuzzy discussion below. There are a few names where a CC makes more sense than a synthetic, this was one of them.
USO, sold 2 Jan 19 puts at 11 for 0.54. This is a tiny account and that is all I could figure out to do with the BP left and still make a decent premium.
Hope everyone finishes out the week strong!
#SPXcampaign Closed $SPX Jan 26th 2800/2825 call spreads for 5.80. Sold for 3.60 yesterday. These got close to 7.00 at the highs. It is still a folly to attempt to short this market.
#SPXcampaign Closed the $SPX Jan 16th 2750/2770 call spreads for 18.40.
This expires Monday and the max gain is 20.00. I figured if I could get 18.40 of that today, it was worth closing early. I didn’t really think it would fill when the morning started, but it did.
Bought for 2.80 on Jan 5th, the day after the Upside Warning fired.
BTC January 19, 45 puts @.01, sold @ .95
Here’s one out of the dust bin. Just did a reverse split last week and with nat gas up during the arctic blast I’m (sort of) considering #SyntheticShortStock . I’d rather use BOIL but due to the lack of weeklies and no recent splits UNG caught my eye.
Weekly premium is kinda weak but it’s a slow enough mover that over the long haul it could really add up…
No position yet…
BTC NFLX Jan 19 200/197.5 .03 sold 1/9 for .25
#SyntheticStock – Not really using LEAPS and probably too long of a duration to qualify as a #Fuzzy. More of a hybrid here….thanks @smasty for the idea.
Sold KR JUL 20 2018 28.0 Puts @ 2.27
Bought KR JUL 20 2018 28.0 Calls @ 2.68
Bought KR JUL 20 2018 26.0 Puts @ 1.44
This gives a net debit of 1.85 for the Jul 2018 position. Add the 2 point max downside and get a max loss possibility of 3.85. Based on that, and the 27 weeks remaining in the trade I only need to average about 14 cents per week in sales to cover the absolute worst case scenario. I’m adding a small hedge out a couple weeks. This would keep me on pace for weekly sales to cover max loss but also still give the trade long deltas all the way up to about 30.75.
For some reason, I don’t have the ba**s to carry these completely unhedged. For now I’m changing it up a little by selling the first hedge with a lot of room instead of being so aggressive right out of the gate.
Sold KR JAN 26 2018 29.5 Calls @ .25
$SPX STC 1/12 2750/2775 BUCS @ 22.85 BTO 12/20 at .94. Another great trade by @jeffcp66 Kudos
$SPX BTC 1/19 2585/2610 BUCS @ .05 STO on 12/19 at 1.65 Thank you @jeffcp66
#SyntheticStock – Rolling weekly up and out picking up upside and long deltas…
Rolled EWW JAN 12 2018 49.0 Calls to EWW FEB 16 2018 50.0 Calls @ .10 credit
$FB STO 1/26 172.50/177.50 BUPS @ 1.40
SPY Jan 19 270/268/273 rolled hedge from jan 17 276 to jan 19 276 .30 net cost now .63
Using some volatility to sell puts, pre-earnings and post-earnings with the stock at 179.54. IV rank is 87.
Sold $FB Jan 26 172.50 puts @ 1.25
Sold $FB Feb 16 160.00 puts @ 1.25
#CoveredCalls #CoveredCallCampaign #earnings
Got whipsawed on this one… first time in the year since I started this, so not bad.
Sold $FB Jan 26th 182.5 call for 1.30 on Jan 2nd.
Closed it for 5.50 on Wednesday.
Today, we get the dip I wish I’d waited for. But now looking at a run up into earnings, so I sold Jan 26th 180 put for 3.55.
Earnings are Jan 31st. I will look into strangles on the day before.
Rolled $AMZN Jan 26 1255 call up and out to Feb 16 1290 call for 5.75 credit with the stock at 1283.46.
One #Fuzzy Concern
One little thing that concerns me about hedged fuzzies that I wanted to throw out is the real possibility that we’ll start seeing a resurgence of special dividends with the new tax plan. Maybe not this quarter, but this year could be a big year like 2015-16 was for these things. Talk about a hedge killer! Companies on their conference calls are saying they have too much money on their balance sheets—so that means employee bonuses, share buybacks, debit recovery, raised dividends, acquisitions, and special dividends. The last one will catch us by surprise on hedges, ouch!
#SPXcampaign Closed on GTC order in pre-market:
$SPX Jan 17th 2730/2705 put spreads for .40. Sold for 6.50.
Good Morning from sunny So Florida