#shortputs
$MZOR BTC 2/16 60 put at 1.80 STO for 8.60 on 12/27
$AMZN BTC 2/2 1240/1250 BUPS at .40 STO 1/19 at 3.00
Daily Archives: Tuesday, January 30, 2018
#spycraft /ES trades 23/5 and…
/ES trades 23/5 and did not have time to trade today, so I am looking at legging into a short strangle. Nice boost to premiums with the still small vix spike. Will probably leg in, tech indicators are about to give long signal. Went back to SMI, percent r still too whippy even with the longer settings. See below and if you want the smi settings I can post. To be honest, I personally like /es better than spy or spx. Better margin, more trading hours, easier to hedge with a smaller $ amount, good liquidity, and better margin treatment.
So signal just printed while I am writing this. Selling the 45 DTE 2575 put at 7.5 (went through). I will wait on the call side in case this is another BTFD. This is a delta 8 option.
JNPR
#Earnings – Nice pullback after hours. Could be one to consider tomorrow…
SPX puts bought
#SPXcampaign After a fairly dull afternoon I entered a Feb 2nd put spread after the bell. Couldn’t decide whether to buy or sell it. Then I decided I would sell it, so entered a sell price, and… I bought it. I forgot that I had “BUY” selected. I left it because I’m still net long on SPX so this’ll be a nice double or triple if we gap down again tomorrow.
Bought $SPX Feb 2nd 2780/2755 put spreads for 2.00
Jan 30 #Fuzzy Land Hi…
Jan 30 #Fuzzy Land
Hi Guys! Quite a day today. Lots and lots of activity for me, hedges and protection working overtime.
1. I’ve got a decent number of Gorilla Fuzzies now (Fuzzies based on the Gorilla Trades Portfolio). These are all very small lot, mostly unhedged, with 50% GTC targets: ANSS, APH, BAH, BLDR, DAL, FLIR, IDTI, MYGN, PX, STZ, TSEM, VFC. Let me know if you want specifics.
2. Earnings run-up fuzzies: Open right now are ANSS, FLIR, VFC, MKSI (must be closed tomorrow), NTGR,
3. Closed one SPY Fuzzy bear today when hedge was blown, netted $1070.00
4. Opened new QQQ Fuzzy bear: Mar 169/169/171 @3.07 with Feb 9 164 hedge @.62
5. Closed VIX fuzzy for $530 profit on a 5-lot. I thought this VIX fuzzy was a really nice strategy. Any time we get a VIX pullback these will be layered in on the portfolio, unhedged.
6. LMT was a new fuzzy I opened yesterday, Mar 350/350/345 @ 7.83, it was hedged with 360 calls, closed those today for $2100 profit and reset at 355 for next week, based on trend exhaustion. Those may prove to be too tight.
7. Opened a new MCD fuzzy today (on the drop) for income, it did really well last month when I had it on. Apr 170/170/165 @ 4.88 hedged w/ feb9 175 @ 1.06.
The day was all about Fuzzy Bears, VIX fuzzy, Hedges and Protection, yay for those!
SPX
STO February 20, bull put spread, 2600/2700 @ 3.90,a small trade.
#shortputs SBUX Sold Feb. 16,…
#shortputs SBUX
Sold Feb. 16, 56 put for .55, appears to have bottomed
AMD Earnings
#Earnings – Selling tight iron fly…
Sold 12.5/13/13.5 @ .44 (risk 6 to make 44)
WYNN
#Fuzzy – BTO WYNN Mar’18 170/170/165 Fuzzy for 7.28, but just 5 contracts (wish I’d bought more now!). Unhedged for now. Thinking about closing it as a day trade, it’s really taken flight.
SVXY
#SyntheticStock – These are very low margin and low risk. Adding one or two more about every 20 point drop for now.
Added Jan 2019 115/115/112.5 Synthetic @ 34.50
37 max loss with 51 weeks to go. Need .73 per week for worse case so:
Sold Feb 2nd 120 calls @ 1.22
SVXY
#ShortPuts – Sold 1 SVXY APR 20 2018 70.0 Put @ 3.52
TLT
#SyntheticShortStock – Small roll of the weeklies…
Rolled TLT FEB 16 2018 122.5 Puts to TLT MAR 2 2018 122.0 Puts @ .12 credit
MU
Rolled Feb 2 45 to Feb 9 .30 #Hedge
#shortputspread WYNN Sold Feb. 15…
#shortputspread WYNN
Sold Feb. 15 145/155 for 1.20, Bottom feeding maybe
MU
#SyntheticStock – Aggressive sale so if these catch any heat my AAPL should be looking good…
Bought to Close MU FEB 2 2018 44.5 Calls @ .18 (sold for .60)
Sold MU FEB 9 2018 43.0 Calls @ .98
NUGT
#SyntheticShortStock – Only hedged on half the core but rolling it down a little anyway…
Rolled NUGT FEB 9 2018 32.5 Puts to NUGT FEB 16 2018 32.0 Puts @ .14 credit
WYNN
#ShortStrangles – Nice gain in 24 hours…I’ll book it.
Bought to Close WYNN FEB 16 2018 140.0/180.0 Strangles @ 2.29 (sold yesterday for 3.95)
VIX futures term structure
We’re awfully close flipping to backwardation. http://vixcentral.com/ At last read, months 1 and 2 were only .05 apart.
If that happens in any meaningful way we should really see an acceleration of SVXY to the downside (and UVXY to the upside).
SVXY
STO January 2019 45 puts @5.93, a 13.17% return if it expires at zero but, I would be happy to be assigned at that price.
Throwing some long term DUST calls out there
At the highest strikes available. Sold:
$DUST Sep 21 32 call @ 2.70
$DUST Jan 17 2020 40 call @ 4.50
SVXY/UVXY
Sold these this morning (so far):
$SVXY Feb 16 85 put @ 1.45
$SVXY Feb 16 83 put @ 1.40
$SVXY Mar 2 75 put @ 1.30
$SVXY Mar 16 60 puts @ 1.04
$SVXY Apr 20 50 put @ 1.25
$SVXY Jun 15 40 put @ 1.28
$UVXY Mar 2 20 calls @ 1.10
$UVXY Mar 16 30 calls @ 1.03
StreetSmart Edge
#Schwab If anyone is having problems with StreetSmart Edge, it is not you. I’m on with them and they are having reports of problems. So yeah I just got the “it’s not you, it’s me” bit thrown back at me 🙂
/VX VIX Futures
#Futures – Scalp good for a half point…
Sold /VXG8 @ 14.25
Bought /VXG8 @13.75
MU
#Fuzzy – I don’t have a good feeling about the upcoming AAPL earnings with rumors of stagnant iPhone X sales. Plus need more clarity in the market in general. Seems like MU is on the precipice to give me a bigger loss than I want to take. I overstayed my welcome on this one, it was making decent money until recently. STC MU Apr’18 45/45/40 Fuzzy for 0.20 debit, bought for 0.88 on 1/02/18. BTC MU Feb02’18 45.5 calls for 0.12, sold for 0.30. Net loss on the trade is $72.66 (a little more than 0.07 on 10 contracts).
Closed SPX day trade
#SPXcampaign As we meander sideways we are mostly making higher highs and higher lows. Hard to tell whether downside is already finished. Since delta on this spread is high, took 1.25 profit and closed it.
Closed $SPX Feb 9th 2825/2850 call spreads for 12.70. Sold right after the open for 13.95.
Short Puts WYNN
#shortputs
$WYNN STO 2/16 150/160 BUPS at 2.84
$SVXY $UVXY
#VXXGame Made these trades at various points this morning, was in a meeting when the real spike happened so totally missed my chance there. Just waiting now to see what happens later today/into the close.
STO SVXY Feb 9 $95 puts @ $1.15
STO SVXY Feb 16 $80 puts @ $$0.80
STO SVXY Feb 16 $87 put @ $1.45
STO SVXY Apr 20 $50 put @ $0.95
STO SVXY Apr 20 $55 put @ $1.59
STO SVXY Apr 20 $60 put @ $2.07
STO SVXY Apr 20 $65 put @ $2.60
STO UVXY Feb 9 $17 calls @ $0.42
STO UVXY Feb 16 $22 calls @ $0.45
STO UVXY Feb 16 $11.5/$13.5 call spreads @ $0.60
STO UVXY Feb 23 $20 calls @ $0.70
STO UVXY Mar 2 $20 calls @ $0.71
UNP
Bought my UNP Feb02’18 135 calls back for 2.44, sold for 1.09. Going to roll later today hopefully when the stock gets up to 137 again. Hope I don’t get burned waiting.
EA earnings
#Earnings Sold to Open $EA Feb 2nd 110/130 strangles for 1.27. Leaning on bullish side due to historical performance and trend. Biggest UP move: 13.7%, Biggest DOWN move: -7.5%, Average move: +/- 5.4%. Bias: +2.35%. My strikes are -7.0% and +9.9% OTM.
Stopped another
#SPXcampaign On the bounce, closed $SPX Feb 23rd 2735/2710 put spreads for 2.80. Sold last Wednesday for 1.60.
If we get another nice dip here, I will be able to sell more rolls.
URI Earnings
#Earnings -Missed my chance to close this a couple days ago. Unloading it here for breakeven and covering commissions…
Bought to Close URI FEB 9 2018 172.5 Puts @ 2.20 (sold for 2.25)
First roll sold
#SPXcampaign #Rolling Sold $SPX March 2nd 2680/2655 put spreads for 2.05, 1.5x position size, as a roll from stopped Feb 23rd spread.
SVXY
STO Feb 9, 85 puts @.75
STO March 2, 75 puts @1.30
VXX gamin’
#VXXGame Sold $UVXY Feb 16th 16 call for 1.05
Closed $VXX Feb 16th 25 put for .10. Sold for 1.15.
Stopped $VXX Feb 2nd 26 call for 5.35. Sold for 1.35 on 1/23. Will roll to another ITM call at some point.
SVXY
STO Feb. 16, 85 puts @1.25
STO Feb. 23, 85 put @ 1.70
March 2, 85 put @ 2.50
March 9, 85 put @ 3.10
March 16, 85 put @ 3.70
March 9, 75 puts @ 2.05
SPX first moves
#SPXcampaign Stopped $SPX Feb 23rd 2750/2725 for 2.95. Sold yesterday for 1.70. Will roll later when we are down more.
Sold SPX Feb 9th 2825/2850 call spreads for 13.95. Maybe only a day trade.
SPX approach
#SPXcampaign The question is, when do we get the bounce? I closed my most endangered put spread yesterday. Only one other was hitting its stop point before the open, so I will roll it down. I may also sell an ITM call spread as a one or two day trade, and perhaps some OTM if I can find good ones.
For the bounce, I want to sell ITM or ATM put spreads. If I miss timing I can grit my teeth through lower prices and wait for the bounce, and roll if necessary. I will likely wait to BUY call spreads until bounce seems clear, and then more with a new Upside Warning.
Bounce could be today or tomorrow, unless we are in for something bigger. With the biggest earnings announcements this week and next, I think it would be tough to go full-on correction now.
Good Morning
Good Morning
Good morning
Another down day at the opening. Yea!
Options Bistro 