Have a Great WE Guys…

Have a Great WE Guys & Gals

Options Expiration for 2/9

$NUGT Feb 9 41 calls
$NUGT Feb 9 42 calls
$UVXY Feb 9 26 calls (was watching this closely to potentially roll out as it topped 29 but decided to wait and see what the end of the day brought–I got lucky)

No assignments, at least today. This week has been an assignment sh**storm with all the SVXY I now own. Still looking for us to go back into contango on the VIX futures next week with a lot of help from the expiring Feb contract on Wednesday. If volatility calms a bit next week a flat curve/slight contango should be in place by Thursday. Then maybe we can start looking at laddering in some SVXY covered calls.

Have a great weekend everyone.

Have a nice weekend to everyone

It has been a hell of a week and my mark to market has taken a big hit like many of you as well. But we will make it all back. No expirations today.

Correction history

Here are all 36 10% corrections since 1980. Note: a year after the lows, stocks are up a median of 23% and two years later up 36%.

Screen Shot 2018-02-09 at 12.33.49 PM

Fidelity bars purchases of SVXY

I can’t find the story on Bloomberg but just received this link in an email from Seeking Alpha:


SNAP calls

Borrowed this idea from TastyTrade.
Sold $SNAP Mar 16 20 calls @ 1.20 with the stock at 18.96. IV rank is high at 74. I’m looking at the decreasing volume and slowed momentum after earnings this week. Would seem to need another big catalyst to push it back up to the highs from Wed. Will be watching closely. Planning to take it off for .60 (50% profit).

SPX hitting the 200 day sma, that’s far enough Mr. Market!

AGN #FallingKnife Sold $AGN Aug…

AGN #FallingKnife
Sold $AGN Aug 17 105 put @ 1.50

ALXN #FallingKnife Sold $ALXN Jul…

ALXN #FallingKnife
Sold $ALXN Jul 20 75 put @ 2.00

SPX trades

#SPXcampaign Got caught in the down flush… these all could have been closed much better if I’d waited for the bounce.

In chronological order:
Sold Feb 16th 2650/2675 call spreads for 6.20
Stopped Feb 23rd 2450/2425 put spreads for 3.70. Sold for 2.00 yesterday.
Stopped Feb 12th 2550/2525 put spreads for 7.00. Sold for 3.75 on Tuesday.
Stopped Feb 9th 2565/2540 put spreads for 6.60. Sold for 2.20 yesterday.
Sold Feb 23rd 2690/2715 call spreads for 4.05.
Closed on GTC order: Feb 12th 2700/2725 call spreads for .40. Sold for 4.10 yesterday.
Stopped Feb 21st 2450/2425 put spreads for 3.65. Sold in #CondorRoll for 4.35 yesterday.

The only two put spreads I have remaining are the March 9th with short at 2300 and 2200. That’s likely all I will hold over the weekend, as we could have a Margin-Call Monday with a big gap down.