Jan 17 #Fuzzy Well I…

Jan 17 #Fuzzy
Well I flattened out a LOT today. I’m pretty bad at picking tops, but I’m ready to take a little break and see if the market is too. On each of my closed index fuzzies I retained a single long put, just to tuck away for safe keeping. I took losses on closing out the index fuzzies this morning before the rally really took off, and I took a loss and closed out EXEL. This is what I built up the fuzzy profit cushion to handle though. So the new net profit on CLOSED fuzzies is $42,595 (since 2nd week of December). A huge amount of risk has been cleared off my table for now.

Open Fuzzies: MU 1, MU 2, EXAS 1, EXAS 2, JPM, GWPH, and a new one on DIS.

I ventured into the world of Double Fuzzies today with SPY. So I have a SPY long fuzzy, hedged, and a SPY Fuzzy Bear, Hedged, in the same account. This is 8-fuzzy legs, maybe a tarantula? The bear is a 278/278/280 for 1.86 with a Jan 26 276 hedge @ .98.

#pietrades Here are some specifics…

#pietrades

Here are some specifics for what I think makes a good PIE stock for weekly trading.
1. perceived volatility but actually stays in a range. The higher the value the wider the range can be and still work.
2. ATM or OTM premiums of $1 or better. The more you get up front the less you have to recover later.
3. Weekly options.
4. Good volume (BX fits the bill except for the bid-ask spreads), I got hammered getting out of a trade last week. $300 profit was trimmed to 120 so it is off my list.
5. Steady pivot points or long term support/resistance. If it moves out of the ranges establishes a new range quickly.

So here is a list I am looking at broken down by size of account.
Small account AAL, GM, DAL, HAL, LNG, BAC (limited), ERX (triple), EXAS (new addition, thanks), AMAT, XOP, MU, AMD, NKE (not the best but can work), UNG since the split, INTC, TMUS, LUV

Medium account can move to WDC, SWKS, GILD, XBI, MA, V, WMT (a little bit), MON, BIB (no weeklies), UAL, RCL, WYNN, MAR, UTX, AMGN, UPS, CAT, NSC, ANDV (previously TSO and my biggest income producer, not as good since the merger), UDOW, IBB, VLO, UPRO, TQQQ, CELG, JPM, FB, AAPL, EXPE, UPS, TLT @fuzzballl suggestion

For those with really big accounts GS, BA, AAPL with some volume, SPY, LRCX, FDX, COST

Keep in mind a lot of these just went booster stage so I would wait until they establish a new range.
Also if I am assigned puts at a pivot point and have some buying power left I will often go CC with straddle puts at the assignment price. Juices returns a little more but also adds risk.

Please post any other tickers that look like they would work.

Fast Money

Wow…what an exchange between Rich Ross and Dan Nathan. It’ll be on YouTube for sure. Thought there was going to be punches thrown. Crazy!

Closed some Puts early

#SPXcampaign Bought to close $SPX Jan 24th 2775/2750 put spreads for 3.10. Sold yesterday for 6.70.
I had three put spreads close to ATM so I took off this one with a decent profit. If we get a pullback I want to be selling new spreads, not scrambling to manage threatened ones.

#OT Henry at SMM posted…

#OT Henry at SMM posted a tweet from T. Boone Pickens “At 89, anything with the word “crypt” in it is a real turnoff for me.” Very nice.

TEVA

#CoveredCalls – Sold covered stock at 14.97. DITM 15 strike calls not really rollable so closing it and saving exercise fees. Small loss….stock basis of 15.08 on a few shares…

#coveredcalls $SVXY buy at $133.57,…

#coveredcalls

$SVXY buy at $133.57, sell Jan 19 $134 call for $2.02, if exercised 1.86% ROI

Rolling already

#SPXcampaign #Rolling #CondorRoll Already rolling the call spread I sold this morning.

Closed $SPX Feb 15th 2870/2895 call spreads for 3.25. Sold this morning for 1.80.
Sold Feb 15th 2890/2915 call spreads for 1.50.
Sold Jan 22nd 2780/2755 put spreads for 2.10.

EXAS

STO July 20, 30puts @1.20

#pietrades

GLD /GC NUGT

Somebody dumping some gold all of a sudden…

Short Puts BABA

#shortputs
$BABA STO 2/16 175/180 BUPS @ 1.90

Closing Early STZ Puts

#shortputs #earningstrade
$STZ BTC 1/19 220 puts @ 1.20 STO @ 2.35 on 1/4
Still holding $STZ 1/19 210/220 BUPS

WYNN

#ReverseRolling – I’ve been in this thing for a year just selling and rolling. It’s been a sweet ticker with great premium but really running now. Closing the last of my short puts and reverse rolling the DITM short calls to very bullish bull put spreads.

Bought to Close 3 WYNN JAN 19 2018 170.0 Puts @ .25 (sold for 9.00 accumulated after a couple rolls)

Reverse Rolled the calls for $270 total credit (.54 per new spread avg) but had to increase size from 3 closed to 5 open to get the credit.

Bought to Close 3 WYNN JAN 19 2018 140.0 Calls
Sold 5 WYNN FEB 16 2018 200.0/170.0 Bull Put Spreads

Now the big picture:

Aggressive put selling for last few months has now brought in $8343 in premium. That was for 3 contracts but now has to be spread over 5 contracts giving me a basis in the new position of:

200/170 BuPS @ 16.68

If WYNN rallies then it’s all good. If WYNN tanks I’ll roll all of this into #Fuzzy positions wherever the stock finally ends up. Breakeven on the spread of 183.32. Anything around that and I’ll have to decide whether to roll or go #Fuzzy

Whew!

guess it is a Rocket Ship

#SPXcampaign Sold to Close $SPX Jan 19th 2765/2785 call spreads for 18.10. Bought for 3.20 on Jan 10th.

Ripping up again. The 2 call spreads I sold earlier have each gone against me by 50% already. I’ll hold overnight but will have to consider rolling if the rally continues tomorrow.

VXX put sold… yep, you read that right

#VXXGame #LongPutDiagonals #SyntheticShortStock
Sold $VXX Feb 16th 25 put for 1.15. Just trying this out ahead of some possible consolidation. I will NOT let this go ITM, but I would like to chip away at some of the loss I took in selling puts months ago. I forgot to sell some short term calls yesterday, which I had been planning on a spike.

Closing Early EGBN

#longcalls
$EGBN STC 1/19 55 call @ 7.00 BTO @ 5.30.
Allowing the companion 1/19/55 put to expire. (I hope)
It is so nice when companions cooperate.
Thank you @honkhonk81

AA earnings

#Earnings #shortstrangles
Sold $AA Jan 19th 53.5/59 strangles for 1.00. Biggest UP move: 9.5%, Biggest DOWN move: -11.4%, Average move: 4.8%. Expected move is 2.98. So this strangle is a bit aggressive, being inside its expected and historical moves. But I also noted that many of the post-earnings moves could be faded on the first day, and that the moves have been smaller in recent quarters. In any case, totally manageable at the stock price of 56.20.

SPX hedge through April

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.

#SyntheticShort out through April expiration…

Synthetic short stock with a protective call. 49.00 debit with max loss of 59.00:

Sold SPX APR 20 2018 2800.0 Call @ 57.55
Bought SPX APR 20 2018 2800.0 Put @ 54.90
Bought SPX APR 20 2018 2810.0 Call @ 51.65

With 13 weeks for the trade to run need to collect 4.55 per week to cover the max loss so:

Sold SPX JAN 24 2018 2785.0 Put @ 8.00

Rolling MHK

#longcalls
$MHK STC 1/19 260 call BTO 2/16 270 call at 6.00 credit. Second roll for this trade. Have taken out total of $15 in credits.

NUGT new highest strike in June

Sold $NUGT Jun 15 54 call @ 2.30

SPX calls sold

#SPXcampaign Sold $SPX Jan 26th 2820/2845 call spreads for 4.25. Provided we’re not on another rocket ship higher, this should be closable within a couple days.

#longcallspread

Rolled FB Jan 29 to…

Rolled FB Jan 29 to Feb 2 170/167.5 .39Cr now total credit is .21+ .39 =.60 – 7.50 comm

Rolling SVXY

Buying Time
$SVXY BTC 1/19 97.5 put STO 3/15 105 put at 3.40 debit. Still up on trade but ……

Rolled IWM #Hedge Jan 29…

Rolled IWM #Hedge Jan 29 160 Call to Feb 2 .31 reduced cost debit

Feb EXAS

Sold $EXAS Feb 16 45 puts @ 1.85

$SVXY $UVXY

I entered some orders before the open as the day job was going to keep me away from the market.
These were the fills I got.
$SVXY Jan 26 $92 puts @ $0.60
$SVXY Jan 26 $90 puts @ $0.40
$SVXY Feb 2 $95 puts @ $0.80
$SVXY Feb 16 $85 puts @ $1.35 (added to position)
$UVXY Mar 16 $19 calls @ $1.05
$UVXY Mar 16 $9/$11 call spreads @ $0.51

Would have done better if I had been able to watch the market. @optioniceman got some great fills.

AMZN

#SyntheticStock – Using this little dip to get my core up to the 50ma. Eventually the weekly will become rollable again. Goal is to get it expired or closed for minimal debit at some point.

Rolled June 2019 1100 synthetic up to 1150
Rolled June 2019 700 disaster put up to 760
Rolled Feb 2018 1060 call up to 1110

Did it all for a 2.84 debit. I’ll take that out of the 40 points of weeklies sold earlier…

$SVXY #ShortPuts Sold to open…

$SVXY #ShortPuts Sold to open Feb 9th 110 Put @ 3.00

#shortputspread #bitty FB After FB…

#shortputspread #bitty FB

After FB dropped the other day I sold a Jan. 19 170/175, looked good yesterday, flirting with 176 now, decided to take the small loss

VIX

It seems strange that the market is up and the vix is also up. There seems like there is a lot of volume in the SVXY again.

#Bear call spread $BABA Buy…

#Bear call spread $BABA
Buy to close Jan 19 190/200 calls for $0.15, sold Jan 9 for $2.15,
freeing margin to sell $UVXY calls.

GILD rolled 16 DTE 76…

GILD rolled 16 DTE 76 put out a week and up to 77.5 for 0.86 credit. Sold for 4.15 off a bunch of rolls and has now been converted to a #fuzzy. It was down to 0.25 and going skiing tomorrow so will not be trading.

Bitcoin…

What’s the best TOS ticker to follow?

STO IWM Feb 16 157/157/155…

BTO IWM Feb 16 157/157/155 1.50 #fuzzy
STO IWM Jan 26 160 Call .30 #Hedge
Thanks Sue (I hope)

SPX calls sold

#SPXcampaign Back in the call game after the Upside Warning was canceled.
Sold $SPX Feb 15th (monthlys) 2870/2895 call spreads for 1.80.

Good Morning

Good Morning

Good morning

The market is up again which is fine with me. I have a large expiration on Friday. I don’t believe we can go another year without a correction.