$SPX STC 1/19 2765/2785 BUCS @ 18.70 BTO @ 2.92 Thank you @jeffcp66
$SQ BTC 1/19 35/40 BUPS @ 65% profit
#spxcampaign
$SPX STO 1/22 2755/2780 BUPS @ 2.20
#shortputs
$WYNN STO 1/26/170/175 BUPS @ 2.20
$SVXY STO 2/9 110 puts @ 3.00 Thank you @fuzzballl
#shortcalls
$EXAS STO 1/26 50 call @ 1.80 I will probably be assigned some stock tomorrow. If these are called away my position size would stay the same.
Not a lot to report here. The SPY double #Fuzzy performed well today (but really, and @hcgdavis already knows this, it’s just kind of a glorified double calendar–I doubt it will stay in the toolbox. It was nice to have a day where hedges actually got to work a little.
I’m working on a new Fuzzy derivative. Anyone a Don Kaufman fan? Don is at a site called Theo Trade. He sent out a video (free) last night for a trade called a “Risk Twist” trade. Perfect for continuing with trend participation without fear of reversal. His trade is a 7DTE 85-delta long call coupled with a 90-day broken wing reverse 1×3 put butterfly. I know, that’s a mouthful. It’s kind of a franken-fly. I modeled it, it was ok. Net long delta gives you trend participation, coupled with some protection. But I knew I (we) could do better! I must say I’ve got a couple great Fuzzy partners that help with tweaking and testing of fuzzies, @MamaCash and @Kathy111.
Enter…the “Fuzzy Twist” 7DTE 85-delta long call, 90 day Fuzzy bear (unhedged). This is a pretty nice trade for trend continuation (at extensions) with downside protection that kicks in almost immediately.
I put a bunch of them on today to gauge performance. Here’s one you can throw into an analyze tab to check out, pay attention to the t+1 line (purple line):
QQQ:
1. Jan 26 161 call @ 4.71
2. Apr -165 call @ -5.29
3 Apr 165 put @ 4.84
4. Apr 167 protective call @ 4.21
I’ve got these on the Q’s, SPY, DIA. You can be sure I’ll report back on their value, but I’m kind of psyched that it’s a tool to keep me in the trend at extensions.
Sue
Taking a free 10 day trial here. Been following him awhile on Twitter and seems to do pretty good. Specializes in buying pre-earnings straddles. Maybe I can stumble on to something here that we can use…similar to some Whiz trades that eventually became the #SyntheticStock and #Fuzzy trades here.
Would be fun to have pre, current, and post earnings trades going!
I’ll keep you posted. 10 day trial and then I’ll probably stick around another month with earnings really cranking up….
https://steadyoptions.com/
…just a theta decay day for me. If we get government shutdown, will it be a BTFD or something bigger? If they avert it, will another blistering rally commence?
I am off to the gym.
#goldminers $NUGT
BTC Jan 19 $31.5 for $1.90, sold Jan 2 for $2.90. Not as good as expected but it could have been much worse. I own stock at $38 from Sept 14 near its peak, when will I learn about stops?
#RocketManHedge -Last put sale was aggressive and open to a lot of whipsaw risk so closing it until after the shutdown gets resolved. Plenty of time to re-sell next week and still get out of the overall hedge in the green.
Bought to Close SPX JAN 19 2018 2790.0 Put @ 4.10 (sold for 9.70)
We have broken above the 2.60 level on the TNX but, I want to see if we stay above that level or this is a false start. If we stay above 2.60, the next resistance is 3%. Not good for stocks if it breaks 3%. If we go into backwardation on the SVXY, we could see a big move because I think there are a lot of shorts in the futures contracts and when it turns, there is no liquidity.
#coveredcall $SVXY
Well the $134 Jan 19 covered call bought yesterday for $131.50 went south pretty fast. I rolled the Jan 19 $134 call to Jan 26 for a $2 credit this morning when SVXY near bottom ($129.80.) Funny now it is back over $134.
#pietrades #shortputs AMAT
I saw AMAT in the list, I have a 52.50 put expiring tomorrow, so I sold a Jan. 26 57.50 for 1.09, stock is at 57.58, apparently recovering from the chip issue
#ShortStrangles – Still slogging away on this. Considering tripling the size and rolling it into #SyntheticStock . Might get me out of it sooner..
Bought to Close AAOI JAN 19 2018 37.5 Calls @ .05 (sold for .90)
Sold AAOI JAN 26 2018 34.5 Calls @ .70
Why are there 2 different options showing tomorrow’s date? Is there a PM settled on the monthly expiration now along with the usual one that settles at the Friday open on monthly expirations?
#SyntheticStock #Fuzzy – I’ve been watching everyone trade this recently so thanks for getting it on my radar. Weeklies with decent premium and a little pullback. Exactly what I look for to get in these types of trades. I’m going hybrid again…in between a 90 day Fuzzy and a full blown LEAP. Taking it out to July to give it some time.
Sold EXAS JUL 20 2018 50.0 Puts @ 7.55
Bought EXAS JUL 20 2018 50.0 Calls @ 7.37
Bought EXAS JUL 20 2018 48.0 Puts @ 6.50
This gives a net debit of 6.32 for the Jul 2018 position. Add the 2.00 point max downside and get a max loss possibility of 8.32. Based on that, and the 26 weeks remaining in the trade I only need to average about 32 cents per week in sales to cover the absolute worst case scenario.
So:
Sold EXAS JAN 26 2018 51.0 Calls @ 1.15
#UOA over there today?
EDIT…it’s now a hashtag 🙂
#Fuzzy – BTC XBI Jan19’18 90 calls for 0.05, sold last week for 0.54. Waiting to sell for next week, the stock is bouncing after running down this morning. I’m liking this ticker (at the moment)!
Also closed a short term #Fuzzy in CRM that I hadn’t admitted to, stole the idea from @smasty160, made 0.78 on that one. Thanks Sue!
Options Bistro 