MikeL 10:53 pm on Thursday, February 8, 2018

I have a quick question…

I have a quick question about rolling naked puts.

Many traders recommend rolling a put as soon as it gets ATM or slightly ITM. Especially, if it is close to expiration date. Would the same rolling recommendation apply to a put that has 1-2 months to expiration and gets ATM or ITM?

For example, I have UPS Mar 16 $110 put. The stock is at $109.28.
In a normal market, I would probably wait for a while, but in this market, it is easy to get deep ITM.
Rolling out and down would be simple right now.

What is your opinion on this?

Thanks.

1strangealien 9:27 pm on Thursday, February 8, 2018

Here’s Dan’s free chart of the day view on the market: http://stockmarketmentor.com/2018/02/looking-for-some-clarity-on-the-sp-action-this-should-help-february-08-2018/

smasty 4:02 pm on Thursday, February 8, 2018

Trader’s Almanac “December Low” warning

Anyone with this fun little book, go to page 38. Since 1952 there are only two instances where a close below the Dow December low in Q1 did not result in additional down moves, on average another 10%. The December low was 23,921.90–so today we closed below that number.

MikeL 1:49 pm on Thursday, February 8, 2018

Does anyone know why the…

Does anyone know why the market goes in the opposite direction as soon as I put a trade on?
Is that a curse? 🙂

smasty 1:22 pm on Thursday, February 8, 2018
Tags: Augen ( 3 ), Fuzzy ( 414 )

Feb 8 Howdy!

Hey everyone, just wanted to pop in and let you know I’m trading VERY small. Just 1-2 lots of #Fuzzy . Mostly shorts. Fuzzies are very expensive now. It helps to hedge them since hedges are also expensive (credit). But hedging slows them down considerably in movement. I like to get out with 50-100% gains. Where I’m doing best now is scalping /NQ.

I’ve mentioned my ” #Augen Spike Code” in the past (From Jeff Augen’s book The Volatility Edge in Options Trading). It translates price action into standard deviations. It helped me find a crash indicator different from what everyone else was viewing. But I also found an important bottom indicator is when there are 3-out of-5 daily bars with 1-standard deviation up moves. .99 doesn’t count, must be over 1.0. Going back in time w/ the indicator I found anything less than 3-in-5 led to shallow false or short term rallies. So on rally days I’m watching and counting those bars.
Sue

Here’s the code if you want it: http://tos.mx/FnguWH

Jeff 1:00 pm on Thursday, February 8, 2018

New LOW on SPX and NDX

Not on Dow or RUT

Jeff 12:56 pm on Thursday, February 8, 2018
Tags: SPXcampaign ( 2,265 )

SPX day trade

#SPXcampaign Caught this flush with a short call spread.

Sold to Open $SPX Feb 9th 2630/2655 call spreads for 11.15 at 2:57 ET.
Bought to close for 6.00 at 3:54 ET

Jeff 12:26 pm on Thursday, February 8, 2018
Tags: SPXcampaign ( 2,265 )

SPX puts stopped

#SPXcampaign Pulled the plug on this one with the intention to roll later. I feel like we need to test this week’s lows again before we can assume correction is over.

Closed $SPX Mar 9th 2630/2605 put spreads for 9.00. Sold as a 1.5x roll for 2.00 last Friday.

fibwizard 12:25 pm on Thursday, February 8, 2018
Tags: SPX ( 105 )

SPX Long Side

#spx

Exited the Final of Long side put from my 3 spreads in Jan 16 time frame..This clears out my Pre-sell-off Longs that I held thru the sell off..

STC 2 Mar09 SPX 2650 Long Puts , Bought at 12.40, Sold earlier at the SPX low today for 49.00..

2pm STO Mar 23 2450/2550 BUPS, 25.00/34.10, credit at 9.10

mortlightman 12:10 pm on Thursday, February 8, 2018

SPX

BTC SPX Feb 9 2645/2640 2.75 loss 260.00

fuzzballl 12:09 pm on Thursday, February 8, 2018
Tags: ShortCalls ( 979 )

SVXY

#ShortCalls – That’s the last of these. Wish I had more…

Bought to Close SVXY JAN 18 2019 235.0 Calls @ .02 (part of a 25/235 strangles @ 3.90)

fuzzballl 12:07 pm on Thursday, February 8, 2018

SVXY

Starting to get some stock assigned now. My basis on naked puts will be around 97 and spreads around 34. I would assume that SVXY isn’t out of the woods yet so I’m selling at the money calls as long as we’re in backwardation. If they get in trouble then that’s a good thing. Missed the assignment this morning of some so just now sold second batch of calls.

Sold SVXY FEB 16 2018 12.0 Calls @ 1.09
Sold SVXY FEB 23 2018 11.0 Calls @ .94

fuzzballl 12:02 pm on Thursday, February 8, 2018
Tags: SyntheticStock ( 356 )

BABA

#SyntheticStock – Weekly sale…core position is 175 strike in Jan 2020 so lots of time. You can really see the difference in option premium on a lot of these now.

Bought to Close BABA FEB 9 2018 185.0 Calls @ .05 (sold for .55)

Sold BABA FEB 16 2018 182.5 Calls @ 1.35

Ramie 11:47 am on Thursday, February 8, 2018

Buying some longer term VXX puts

Defined risk so I don’t have to worry about margin effect.
Bought:
$VXX Jun 15 25 puts @ 1.27
$VXX Sep 20 puts @ 1.30

Once volatility calms down and we go back into contango these should start getting profitable quickly.

1strangealien 11:47 am on Thursday, February 8, 2018
Tags: Fuzzy ( 414 )

XBI

#Fuzzy – BTC XBI Feb9’18 93 calls for 0.04, sold for 0.52. STO XBI Feb16’18 93 calls for 0.42.

Jeff 10:40 am on Thursday, February 8, 2018
Tags: VXXGame ( 769 )

UVXY call sold

#VXXGame Sold $UVXY Jan 2019 70 call for 9.60. I still have more long calls than short, so it’s not costly for me to add slowly.

Jeff 10:36 am on Thursday, February 8, 2018
Tags: VXXGame ( 769 )

SVXY final long put sold

#VXXGame Sold to Close $SVXY June 110 long put for 99.25. Originally sold in the 150/110 put spread for 18.40 on Jan 5th. That leaves my highest SVXY naked put (150) ready for assignment. Cost basis on assignment for this one alone would be 32.35. Not so bad, but also not taking into account the rest of my puts that didn’t have the benefit of spreads.

Jeff 10:24 am on Thursday, February 8, 2018
Tags: SPXcampaign ( 2,265 )

SPX trades

#SPXcampaign High $TICK readings of the day… the lows could be in.

Sold to OPEN $SPX Feb 9th 2565/2540 put spreads for 2.20. Expire tomorrow, 70 points OTM.

Sold to CLOSE $SPX Feb 9th 2590/2570 put spreads for 2.75. Bought for 4.25 on Tuesday. Was riding the limit price on this one at the lows, but liquidated once I saw new TICK highs; loss is covered by the one I sold above.

Earlier: Sold to Open $SPX Feb 23rd 2450/2425 put spreads for 2.00.
Closed on GTC order: Feb 9th 2740/2765 call spreads for .25. Sold for 6.20 on Tuesday.

Jeff 9:46 am on Thursday, February 8, 2018

“Traders who continue to play…

“Traders who continue to play the short-vol game with SVXY must read this.”
https://seekingalpha.com/article/4144576-xiv-dies-warning-svxy

Ramie 9:39 am on Thursday, February 8, 2018
Tags: FallingKnife ( 963 )

CMI #FallingKnife Sold $CMI Sep…

CMI #FallingKnife
Sold $CMI Sep 21 115 put @ 1.40. Lowest strike in Sep.

Ramie 9:32 am on Thursday, February 8, 2018

CMG put

Sold $CMG Sep 21 200 put @ 5.60 with the stock at 265.37. Delta is 13. Strike is 25% lower than current price and at a level the stock hasn’t been in almost 6 1/2 years (Oct 2010).

Jeff 9:31 am on Thursday, February 8, 2018
Tags: CondorRoll ( 191 ), SPXcampaign ( 2,265 )

SPX roll sold

#SPXcampaign Sold $SPX Feb 21st 2425/2450/2750/2775 #CondorRoll for 4.35, as a roll from the Feb 9th put spreads stopped earlier.

MikeL 9:14 am on Thursday, February 8, 2018
Tags: ContangoETFs ( 446 )

DUST Calls

#ContangoETFs

Sold $DUST Jun 15th 40 call for 2.00

Jeff 8:15 am on Thursday, February 8, 2018
Tags: CondorRoll ( 191 ), SPXcampaign ( 2,265 )

SPX trades

#SPXcampaign Bought to close $SPX Feb 9th 2625/2600 put spreads for 4.25. Sold in a #CondorRoll for 4.25 on Monday. Will look to roll later today. Couldn’t risk a precipitous drop into tomorrow’s close.

generalmelchett 8:06 am on Thursday, February 8, 2018
Tags: SyntheticStock ( 356 )

TSLA

Long term quest to become a model s owner one day. BTC 9 feb 370 call 0.10 STO for 3.15. STO 16 feb 355 call for 2.49. #syntheticstock

Jeff 8:02 am on Thursday, February 8, 2018

FANG

FB, BABA, GOOGL, NFLX, AMZN, following market.

AAPL not caring, although still a crappy daily chart.

Jeff 8:01 am on Thursday, February 8, 2018
Tags: Earnings ( 3,108 ), ShortStrangles ( 716 )

TSLA trade closed

#Earnings Closed $TSLA Feb 9th 310 puts for .55. In #ShortStrangles for 3.15, out for .65.

Jeff 7:59 am on Thursday, February 8, 2018
Tags: VXXGame ( 769 )

VXX stock sold

#VXXGame Sold long $VXX stock for 49.82. Assigned via 42 puts on Oct 13th.

Jeff 7:58 am on Thursday, February 8, 2018
Tags: SPXcampaign ( 2,265 )

SPX calls sold

#SPXcampaign Sold $SPX Feb 12th 2700/2725 call spreads for 4.10.

Working on stopping out of tomorrow’s 2625/2600 put spreads. Probably on this bounce.

jsd501 7:51 am on Thursday, February 8, 2018

CAH put

BTC March 16, 50 put at .10 cents, sold at 1.20 on 1 contract.

Jeff 7:48 am on Thursday, February 8, 2018
Tags: SPXcampaign ( 2,265 )

SPX calls closed

#SPXcampaign Closed on GTC order: $SPX 2790/2815 call spreads for .30. Sold for 3.55 on Monday.

Market’s looking pretty weak.

thomberg1201 7:32 am on Thursday, February 8, 2018
Tags: pietrades ( 240 ), ShortPuts ( 4,763 )

#shortputs #pietrades TRTN PFE TRTN…

#shortputs #pietrades TRTN PFE

TRTN Rolled Feb. 16 35 put to March 16 for 1.30. TRTN is at 32.50, rolled Feb. 16 40 put to March 16 for .88
PFE was originally a Tradewise covered call, couldn’t get filled on a recommended roll, fortunately was called away before the damn broke. Getting back in sold Feb. 16, 34.50 put for .36, too early, PFE is at 34.67.

jdietz1954 7:03 am on Thursday, February 8, 2018

$SVXY

Morning all. I have been assigned most of my $SVXY shares at a basis of 100 +/- with 200 more to come.
I followed Fuxxball this morning and added long a few Jan 2020 30 strikes at 3.20. A little early for the morning though but need to get onto the other job. Can’t get a fill on my Feb 16th 2910/2930 BeCS to close at .05. I can wait. I don’t think the $SPX is getting up there again any time soon. I can only wish. Looking to open a new Feb 28th spread down around 2390 at some point. All the best.

Jeff 6:59 am on Thursday, February 8, 2018
Tags: Earnings ( 3,108 ), ShortStrangles ( 716 )

TSLA call closed

#Earnings Closed $TSLA Feb 9th 372.5 call for .10. Order in to close put for the same. #ShortStrangles sold yesterday for 3.15. I would normally let these expire but not in the volatile market.