STO Feb 2 61 .42 #hedge
Monthly Archives: January 2018
KMB closed
Closed $KMB Jan 26th 120 calls for 1.80. Closed the 111 puts for .05 on Tuesday.
Sold the strangles for 1.05 on Monday.
I may look at another strangle to make back the loss, since premium look decent.
Good Morning
Good Morning
$SVXY
No market access again today, but had a couple of GTC orders get hit
STO Mar 2 $80 puts @ $1.15
STO Mar 16 $75 puts @ $1.55
These were following @optioniceman trades from yesterday.
Rolled Up and One Week Out EXAS / Closing Early SPX BECS / Rolled SVXY / Short puts ETE
#shortcalls
$EXAS BTC 1/26 50 call STO $EXAS 2/2 52 call at even
#rollup
$SVXY BTC 2/16 130 call STO 3/16 140 call at additional .50 credit
#spxcampaign
$SPX BTC 2/16 2895/2870 BECS at 6.00 STO 1/17 at 1.80
#shortputs
$ETE STO 2/16 18.50 put at .50 Attempting to acquire stock
Jan 25 #Fuzzy Land and…
Jan 25 #Fuzzy Land and #PieTrades
Another very nice day in Fuzzy Land here. I feel very balanced in the portfolio right now. Hedges are working on the trouble makers. JNJ–nice move today. EA–moved the wrong way but I’ve learned to stay patient on the earnings trades that have a 100% backtest win rate, and I keep them small. AAPL got cut today, when I ran the backtest on it today it only wins 25% of the time for earnings run up, so I was a goof to even have that trade on. BUT I had a pre-earnings trade on for BA today that ran up big in just a few hours. I’ve got a nice mix of shorts and longs. With volatility up, it’s easy to hedge the Fuzzy Bears with a strike that allows beautiful profit even if runover.
1. Closed the FLIR Earnings Run Up Fuzzy for 47% profit, $415
2. Opened hedged SPY Fuzzy Bear Feb 284/284/285 @ 2.54 Jan31 280 hedge @.53
3. Closed AAPL pre-earnings fuzzy for net $1115 loss….BUT
4. Opened BA pre-earnings fuzzy and closed it 3 hours later for $2100 profit
5. Rolled MU Hedges to next week, and opened a new MU Fuzzy (Mar 43/43/41 for 2.22). I’ve collected a net $4200 in MU hedges…MU can be a little dramatic (like a toddler in a store), but that’s what makes for nice premium to sell for hedges. So MU is now in 3 of my 4 accounts.
6. VIX I compared long calls to a long fuzzy for VIX…remember the grocery store question? ATM Fuzzy costs the same as $2 OTM long calls, with higher deltas on the Fuzzy for better performance. So I opened Mar 21 12/12/11 Fuzzy, unhedged, for 1.57 as an overall hedge. I’d like to layer more of these in as vol/price drops.
7. AMTD, there’s a sell program going on in this ticker, I’ve got lots of cycles in front of this for hedges, so rolled today from 58 to 56 calls. There was a LOT of call buying on this today, probably due to ETFC reporting. I didn’t see the call buying affect price though, like it usually does. It’s sitting on a 50% retracement here. I’m grateful for protective puts + hedges for a nice counterbalance.
8. Added 2 small-lot DIA unhedged fuzzies at the bottom today. Feb 263/263/261 @ 2.45
9. Added MGM pre-earnings run up Fuzzy (early I know) Feb23 36.5/36.5/35 for 1.13
10. Although not technically a fuzzy since it was a synthetic only, I made 422% on a BX-synthetic, buying yesterday at .09 and selling today at .47. 5x my entry price. That was an earnings run up play.
11. PieTrades: so far my only ticker is LMT for this campaign. Sold 327.5 puts on Monday, was able to cover 1/2 of them today for .05. I assume other half tomorrow morning. That will equal $680, thanks @hcgdavis LMT reports Monday morning, so Monday or Tue next week will be good for the next round.
Closing LUV
Bought to close $LUV Feb 16 58/67 strangle for .90. Sold yesterday for 1.15.
#Earnings
AAL puts
Going out to August to get some premium at a relatively low delta (these are at 21).
Sold $AAL Aug 17 puts @ 1.17 with the stock at 52.95. IV is still elevated (IVR 57).
Bailed on AVGO
#ShortStrangles Closed $AVGO Feb 16th 250/290 strangles for 7.40. Sold legs separately for a total of 9.35, so profit of 1.95. Not rolling, I’ll just take profit and wait for earnings in late Feb.
LNG
Doing it again
BTO Feb 16 58/58/56 1.67 #fuzzy
Have order in to sell feb 2 61 .35
LUV
#SyntheticStock – Don’t want all of my eggs in the AAL basket so taking a shot with LUV…
Synthetic Stock:
Sell to Open LUV JAN 18 2019 60.0 Puts @ 5.89
Bought to Open LUV JAN 18 2019 60.0 Calls @ 6.64
Disaster Puts:
Bought to Open LUV JAN 18 2019 57.5 Puts @ 4.75
This gives a net debit of 5.50 for the Jan 2019 position. Add the 2.50 point max downside and get a max loss possibility of 8.00. Based on that, and the 51 weeks remaining in the trade I only need to average about 16 cents per week in sales to cover the absolute worst case scenario.
Giving it a little breathing room in the beginning until I see how the recovery goes:
Sold LUV FEB 2 2018 61.5 Calls @ .41
SVXY March
Still going really slowly on this.
Sold $SVXY Mar 16 70 put @ 1.20.
Will add at lower strikes and/or higher premium.
ISRG earnings
#Earnings Sold $ISRG Jan 26th 410/490 strangles for 3.00. Biggest UP move: 8.9%, Biggest DOWN move: -5.6%, Average move: 4.7%. My strikes are about 8.9% OTM
WDC
#Earnings – Total crapshoot here. Playing it bullish but have no clue…only theory is short puts are easier to deal with on a big move than short calls. 🙂
Sold WDC JAN 26 2018 86.5/93.0 Strangles @ 1.94
ISRG
#Earnings – Playing it at the expected move to the downside and twice the expected move to the upside…
Sold ISRG JAN 26 2018 425.0/490.0 Strangle @ 4.75
EWZ
Well crap! I’m running out of time and ran out of hope and ideas on this one, I can’t catch up and she’s not coming back.
STC EWZ 17JAN20 +41C-41P+36P, BTC EWZ Jan26’18 41 calls.
I walked down the tracks too long and the freight train hit me. Lost 0.85 on 10 contracts. The good news is you guys have shared ideas that have more than made up for that loss. Thanks!
SPX no more shorts, again
#SPXcampaign After we tested going negative this morning, $CAT bounced off its rollercoaster of a morning and helped nudge the markets higher. $NFLX is going parabolic again, too. My $KMB calls are now underwater; could have closed for a nice profit on Wednesday. So I think we go higher, driven now by earnings.
Closed $SPX Feb 9th 2875/2900 call spreads for 6.00. Sold for 4.50 yesterday. That was my only short hedge on SPX. I also went long with a risk/reversal that’s making me a whole lot more than this 1.50 loss.
LNG
STC 57/57/55 #Fuzzy 2.50 BTO 1-23 @1.22 113.00 profit 2 days
Put a close price in as a marker and was out this AM, hit it. Damm
$NFLX Rolling again
Rolled $NFLX Feb 2 265 calls up and out to Mar 9 275 calls for 1.42 credit with the stock at 269.71.
REGN
#SyntheticStock – Rolling weeklies again into earnings week as high as I can for a credit…
Rolled Feb 2nd 390 calls to Feb 9th 400 calls @ .31 credit
Rolled Feb 2nd 395 call to Feb 9th 407.5 call @ .19 credit
SVXY
STO January 2019,265 covered calls @6.70
VRX
#SyntheticStock – One of my last ones where the weekly was run over from almost the second I set the trade. Been running negative deltas for awhile. This pullback is giving me a chance to get out at even. Lousy fills out in 2020 or would’ve been a decent profit.
Sold Jan 2020 15/15/12 synthetic stock
Bought Apr 2018 16 calls
Made $36.50 after commissions! 🙂 🙂
SVXY
STO June 70 put at 4.70 on 1 contract. Just testing the water.
NWL
Sold to open September 21, 16 puts @.60
UNG
#SyntheticShortStock – Still messing around in the tastyworks account. I think I could get used to it. After seeing the commissions and fees it’s looking like an average of about 56 cents per contract with each leg capped at 10 dollars.
Sold UNG Feb 16 2018 25.0 Puts @ .63
AVGO
Nice bounce of 250 area so far. I hold #ShortStrangles Feb 16th 250/290
AAPL add
#Earnings #ShortPuts Added another $AAPL Feb 2nd 175 put for 5.20. The bet is we raise into and after earnings. But if not, I’m okay rolling or taking some stock at 170 cost basis.
FFIV closed
#Earnings Closed $FFIV Jan 26th 130/155 strangles for .16. Sold yesterday for 1.60.
UNP
#ShortPuts – Throwing these in the divvy part of the #401k ….
Sold UNP May 18 2018 125.0 Put @ 3.70
Sold UNP May 18 2018 120.0 Put @ 2.45
SVXY
The 10 year treasury note is now at 2.66% and the SVXY continues to see selling even though we are still in contango. I think that some institution is taking profits and getting ready for a correction. I have a large position in the puts of the SVXY from 40 to 60 and don’t intend to add to it until we get a correction. I would also not mind being assigned at those levels and sit on the position for the next 10 years.
REGN
#SyntheticStock – Clearing the 50 ma and looking like it’s finally getting some air under it. Rolling weekly out and up. All weeklies are now next week with earnings the following week. Lots of options going into that high IV.
Rolled REGN JAN 26 2018 380.0 Call to FEB 2 2018 390.0 Call @ 1.70 debit
$SVXY Rolled my Jan 26th…
$SVXY Rolled my Jan 26th 120 Puts out and down to Feb 16th 95 Puts for .75 credit. Originally sold for 2.45 on 1/16
GS
The stock is making new highs and I decided to roll my Feb. 2nd. 267.5 call to Feb. 9, 270 calls for a credit of .15 cents. I just rolled these yesterday. I would be better off not selling the nearby calls.
FFIV LRCX Earnings
#Earnings – Worked great…I’m out and moving on down the road towards ISRG and WDC.
Bought to Close FFIV JAN 26 2018 130.0/155.0 Strangles @ .19 (sold for 1.33)
Bought to Close LRCX JAN 26 2018 200.0 Put @ .05 (sold for 1.80)
Bought to Close LRCX JAN 26 2018 202.5 Put @ .65 (sold for 2.70)
#Fuzzy just completed another on…
#Fuzzy just completed another on KR this morning. positive result thanks for the direction from you all. Profit was 40% and used a 2-lot
LRCX closed
#Earnings Closed $LRCX Jan 26th 200 puts for .05. Sold yesterday for 1.20.
Missed The Roller Coaster Day But Trades Did Fill
#spxcampaign
$SPX BTC 1/26 2845/2820 BECS @ 12.00 STO at 4.75
$SPX BTO 2/2 2865/2885 BUCS at 2.40
$SPX STO 2/26 2710/2735 BUPS at 1.60
#earningstrade
$LRCX STO 1/26 207.5/212.5 BUPS at 1.60 Looks good after hours
$AMZN STO 2/16 1345/1350 BUPS at 2.08
UNG
#SyntheticShortStock – Missed another one from earlier. Filled in tastyworks account. Is there a way to get text alerts on fills there?
Bought to Close UNG Jan 26 2018 24.0 Puts @ .01 (sold for .22)
Sold these this morning before…
Sold these this morning before I had to be away for the day. Saw the apparent carnage on my ticker feed. Must have been an exciting day.
$SVXY Sold Feb 16th 95 Put @ 1.00 when SVXY was at 130.53 Thanks Iceman
$SVXY Sold Feb 23rd 100 Puts @ 1.71 when SVXY was at 132.16
Jan 24 More #Fuzzy 1….
Jan 24 More #Fuzzy
1. New QQQ Fuzzy Bear Feb -168.5calls/+168.5puts/+169.5 calls for 2.47, hedged w/ Feb2 166 puts @.82
2. JNJ, been waiting to see buyers come in on this, there was some nibbling today Apr 140/140/135 @3.85 (has $2.00 intrinsic). Hedged w/ Feb2 145 calls @ .43
3. EA added a 2nd Earnings Run Up fuzzy on the drop today, Feb 2 114/114/112 @3.17, I have 5 of the 117-line fuzzies and 2 of the 114-line. These are unhedged, to be closed before report, profit target is always 40% for me using a GTC order.
4. Hedged AAPL earnings fuzzy on the poor performance this week. Jan 26 175 for 1.26.
Almost all of the Earnings Run Up fuzzies are based on historical 100% win rates (backtested), but AAPL doesn’t have that kind of historical win rate running up to earnings. I went a bit rogue on this one. Keeping the full $1260 on this hedge will go a long ways to fixing this trade. But this is a bit dicey, one news release and the hedge is blown.
Sue
TXN
#ShortPuts #IRA – Missed this one earlier…
Sold TXN APR 20 2018 105.0 Put @ 3.00
Earnings trades
#Earnings $FFIV strangles and $LRCX bullish trades look good so far.
#coveredcalls $SVXY Buy to close…
#coveredcalls $SVXY
Buy to close Jan 26 $134 calls for 0.38, sold Jan 18 for $2.67
SPX #UOA The Trader held…
SPX #UOA
The Trader held this one until right after the regular close. Big trade for mid-week next week, selling 2790/2775 Bull Put Spread
CMCSA #UOA In the last…
CMCSA #UOA
In the last 1/2 hour today, a lot of block trades and call buying.
NFLX rollout
With the strike getting breached at 261.25, I rolled $NFLX Jan 26 260 calls up and out 1 week to Feb 2 265 calls for .35 credit. Let’s see if this thing can’t slow down.
EXAS
#SyntheticStock – Delta was approaching zero so closing and hoping for a pullback to reset…or might reset anyway 🙂
Closed July 50/50/48 synthetic
Closed Jan 26th 51 calls
Net gain of 75 cents on a six day trade. Thanks guys (and gals)!
URI earnings (sort of)
BABA
BTO April 200 calls and also bought April 195 puts @22.40 on 2 contracts. It is breaking to a new high.
GWW
Hey @Iceman ….how’s those GWW short puts looking? Completely missed this earnings trade yesterday.
🙂 🙂
svxy
Someone is putting a lot of pressure on this ETF. I get the feeling that someone is taking a big profit. Also, watch the 10 year. It is creeping up very slowly.
#earnings #strangle F Bought 11.50/12.50…
NUGT
#SyntheticShortStock – Adding to the short at original strikes for simplicity. Just averaging down on the debit..
Added to Jan 2019 32/32/34 synthetic short @ 7.80 debit
VRX
#UOA – Alert saying bullish but I’m not sure why…LOL @smasty ? Any ideas?
SWKS closed half a #fuzzy…
SWKS closed half a #fuzzy the 100 put 2020 leap and the 104 9 DTE for 12.10 credit.
Starting clean out to get back to cash so I can restart #pietrades and #spycraft trades.
Will take me 2,9, 16, 23, and 30 days to have everything flat or until the time value is out of the short options, hopefully before then 🙂
ISRG
#CoveredCalls -This was a reverse roll of a strangle where the call side got blown out and then turned into covered stock. Finally back to a decent profit. Debating on holding it through earnings but finally decided to unload it and set up a new earnings play on the ticker tomorrow.
Sold to Close ISRG JAN 26 2018 420.0 Call Covered Stock @ 415.50 (bought for 410.45)
LRCX
#Earnings -Thanks @Jeff ….almost forgot about this one. Selling put side for now.
Sold LRCX JAN 26 2018 202.5 Put @ 2.70
Sold LRCX JAN 26 2018 200.0 Put @ 1.80
This is about one third size of what a #Fuzzy would be so if the stock implodes well below these I’ll set up a Fuzzy down there wherever it ends up…or possibly roll the puts if not too DITM.
SPX risk/reversal
#SPXcampaign I did not catch the bottom but kind of chased as the bounce became clear:
Sold $SPX Feb 16th (Friday PM) 2800/2775 put spreads for 5.05.
Bought SPX Feb 2nd 2865/2885 call spreads for 4.00.
GS
I go to the gym for the spin class and come back to this. What have you done? While I was gone I rolled my GS January 265 calls out to Feb. 2, 267.5 calls for a credit of .40 cents
EXAS
#Fuzzy – Since others are bailing on this one and biotech is pulling back, I’m bailing with ya. STC EXAS Feb’18 50/50/45 synthetic and BTC EXAS Jan26’18 51.5 calls. Made 0.96 on 10 contracts. Glad to see XBI come back into orbit!
LUV earnings strangle
Borrowing an idea from TastyTrade (Liz & Jenny).
Sold $LUV Feb 16 58/67 strangle @ 1.15 with the stock at 62.33. Earnings tomorrow morning.
SPX calls sold
#SPXcampaign Sold $SPX Feb 9th 2875/2900 call spreads for 4.50. Throwing one out there in case this weakness holds up. Also looking to sell an aggressive put spread. I won’t be looking to roll any put spreads unless VIX moves over 12.50 or SPX below 2825.
CMCSA BTO Apr 20 42.5/42.5/40 .61 # Fuzzy
STO Feb 16 43.50 .46 #hedge Net Debit .20
Thx
Smasty
SVXY put closed
#VXXgame Closed this one with nice profit, giving a nice chunk of buying power back so I can sell something better.
Closed $SVXY Feb 16th 80 put for .61. Sold for 7.35 in a strangle on Nov 15th
LRCX earnings
#Earnings Sold $LRCX Jan 26th 200 puts for 1.20 (now going for more).
Biggest UP move: 8.1%, Biggest DOWN move: -2.8%, Average move: 2.9%. This trade was 5.2% OTM at the time of the fill (stock price was 211.00).
This has only been making small moves down and bigger moves up on earnings. The last time it moved DOWN more than 3% was Oct 2011.
IWM closed #Fuzzy net 73.5…
IWM closed #Fuzzy net 73.5 profit, gave back a bit too much.
#shortputs #fallingknife but I’m not…
#shortputs #fallingknife (but I’m not qualified to make the designation) UAL
Sold Feb. 2, 67.50 put for .90. This can quickly become a #pietrade
#buywrite $UVXY buy UVXY at…
#buywrite $UVXY
buy UVXY at $9.76, sell Jan 26 $10 call for 0.35, if exercised 5.8% ROI so placed stop at $9.54 to keep very small profit. I may sell stock (if gain on pop) and buy 13 call for 0.05 since unlikely to exercise, undecided.
SVXY
#ShortPuts – Sold SVXY MAR 2 2018 100.0 Put @ 2.55
NFLX
#Earnings – Trading between the inverted strikes for now. To make room for other earnings plays booking with a small profit.
Bought to Close NFLX JAN 26 2018 260.0/252.5 Inverted Strangles @ 10.65 (sold for 11.05)
TLT
#SyntheticShortStock – Uncovering the #FuzzyBear ….
Bought to Close TLT JAN 26 2018 122.5 Puts @ .44 (sold for .30)
Jan 24 #Fuzzy early report…
Jan 24 #Fuzzy early report
Every night I go to bed with one thought in my mind: “please may I have one more day to go flat?” So I did NOT squander today, I went pretty flat (not totally). The Fuzzy Biotech Trifecta….gone (EXAS/GWPH/EXEL). All index fuzzies are gone. Here’s a list of closures: BABA, IBM, JPM, SPY, AXP, SWKS, IWM, EXAS.
My total for the quarter now on CLOSED fuzzies is $46,463.
I do have one NEW Fuzzy: CMCSA Apr 42.5/42.5/40 @ 1.16 with a Feb 9 43.5 hedge @.50
Open Fuzzies: MU, KBH, DIS, IP, AAPL, BAH, MYGN, AMTD, VZ, FLIR, EA, CMCSA
AAPL put sold
#Earnings #ShortPuts Taking advantage of weakness in $AAPL to place an earnings trade early. Release is next Thursday.
Sold AAPL Feb 2nd 175 put for 4.05.
GLD
#SyntheticStock – I should be really enjoying this gold run but not so much. Another weekly sale that’s absolutely gotten run over. Rolling the whole thing up to get back to long deltas but still leave a little cushion for a pullback. Disaster puts were only 2 points below so leaving them in place for now.
Rolled Jan 2020 122/122 synthetic up to 124 (leaving 120 puts in place)
Rolled Mar 2018 124 calls up to 126
All for .35 credit…
SPX puts closed
#SPXcampaign Closed on GTC order: $SPX Feb 9th 2650/2625 put spreads for .20. Sold for 1.60 on Jan 8th.
Options Bistro 