Expiration

From Friday
$EXAS 50 call (covered)

Today
$SPX 2525/2550 BUPs Thank you @jeffcp66

Time to short the VIX?

https://seekingalpha.com/article/4145659-time-short-vix?auth_param=bf3bv:1d83egb:9d077ee3a9d04c2fe782d0a4c6d608d5&uprof=37&utoken=5b32faa14fc320dfd5f3f44880808118

Closing Feb EXAS

With the stock now back above the strike (after spending a good part of the last couple of trading delays below it), I decided to close this position for 75-80% of the max and not risk another dip before the end of the week.
Bought to close $EXAS Feb 16 45 puts @ .40. Sold for 1.85 on 1/17.

Taking off some DUST

Bought to close $DUST Mar 16 45 calls @ .15. Sold for 1.20 on 12/7. Reducing some exposure.

REGN

#SyntheticStock – Trying to get out of the way of this thing just in case…

Rolled REGN FEB 16 2018 337.5 Calls to MAR 16 2018 350.0 Calls @ .16 credit

SPY STO Feb 14 274…

SPY STO Feb 14 274 Call @ .18 #Hedge

AAPL

Rolled Feb 16 167.5 Call to Feb 23 @ .63 #Hedge Roll

Reverse Roll

#SPXcampaign Closed $SPX Feb 16th 2650/2675 call spreads for 13.80. Sold on Friday for 6.20.
#ReverseRoll Sold $SPX Feb 21st 2700/2675 put spreads for 14.00.

Higher

#Market #SPXcampaign This recent click higher and corresponding dip in the VIX signals to me this market is going up. Still not close to confirmation on the VIXIndicator but I’m going to start reversing some positions in SPX.

#pietrade 2 additional tickers to…

#pietrade

2 additional tickers to add, MRK and PFE. Stable blue chips but with the vol spike they qualify for the 1% per week return on puts/calls 1-2 strikes OTM.

I am sure there are a lot more at the moment but don’t have time to trade until Thurs. unless I figure out what I want to do with all my SVXY shares now. I caught up on the conversations below, maybe better to just take the loss and move on as opposed to hold and potentially see it go to zero/0.

BABA Fuzzy

STO February 23 190 calls @.52, trying to buy February 210 calls for .01 which were sold @ .90
Covered @ .01

CMG adding to Sep

On Feb 8 I sold a 200 put in Sep for 5.60. Just added to Sep at a lower strike.
Sold $CMG Sep 21 180 put @ 5.10. Delta 11.

SPX Trades

#spx

STO Mar18 2450/2550 BUPS @ 14.00 credit near the 9:20am time frame
STO Mar 23 2500/2600 BUPS @ 21.00 Credit Near the 10:00am time frame

#pietrades #shortputs AMAT Rolled Feb….

#pietrades #shortputs AMAT
Rolled Feb. 16, 57.50 put to March 16, 57.50 for .40, 4th roll cost basis of 290, AMAT hovering around 49

UVXY

#ShortCalls – Not the perfect time but wanted to wait for some of the violence to calm down. Margin free against some 2020 5 strike puts leftover from a synthetic short. I’ll use these profits to peel some of those off.

Sold UVXY APR 20 2018 59.0 Call @ 2.81

AMZN

#SyntheticStock – Yes…the SVXY situation sucks but there is a silver lining. The higher volatility across the board is nice for selling/rolling. For the last year when rolling these ITM weekly sales up on AMZN I’ve had to pay about a 2 dollar debit for a one month 10 point roll up. Not any more! While IV is high I’m rolling this one a little earlier than normal picking up another 23.30 of upside.

Rolled AMZN MAR 16 2018 1220.0 Call to APR 20 2018 1240.0 Call @ 3.30 credit.

20 point roll up for a 3.30 credit? Unheard of in the last year…

Apparently there was more excitement…

Apparently there was more excitement in the market than skiing this weekend. Driving through NYC heard the dow was down another 1000 points, WTF? So at my next rest stop I had time to check SVXY to make sure it was still alive.

On a 9 hour drive to Maine had plenty of time to think about what the hell to do now.

So the first thing is I need to pay attention to rule #1, first do not lose any money and rule #2, do not forget rule #1.

All of my big losses have been on derivatives or leverage on derivatives. SVXY now and futures options. So no more leverage on leverage or as @jeffcp66 said a derivative of a derivative of a derivative.

Anything I have been assigned on a loss have always been able to work it back to even or a profit.

So rule #3 for me now is only trade hard assets, something you can be assigned when the crap hits the fan. From there can work it back with options, usually quicker than you think.

Rule #4, weekly options give more options for adjustment, so my ticker must have weeklies.

Rule # 5, stop trying for home runs, playing money ball I can double an account every 2 years conservatively.

#6, if anyone here has a dog they can train to bite me when I violate any of these rules, I will come pick it up.

Right now looks like the algos will be driving volatility for a while until we establish a new range.

Trade wisely!

SPX new hedge

#RocketManHedge – A new one out to May with a more traditional put buy / sell against…

Bought SPX MAY 18 2018 2640.0 Put @ 101.20

14 weeks to run so need 7.25 to cover it. As of right now with this volatility that strike is 185 points out of the money. Not gonna give it quite that much room!

So:

Sold SPX FEB 20 2018 2540.0 Put @ 14.10

For fun here’s the metrics on that particular put sale:

Short delta down to 2475. At that point the profit would be 27 points. That’s six percent lower from here. Will definitely help with the longs if we roll over…

SPX complete reset…

#RocketManHedge – Had two of these running…one that had become long deltas on the selloff and one where I had rolled the weekly sale out to Dec to give it room. Clearing both out with profits and starting fresh in May with long puts only and a conservative weekly sale against. Put premium is up but it works both ways. Weekly sales are juicy allowing more downside room to run…

Hedge #1

Closed March 2670/2670/2675 synthetic short
Closed March 2725 put (that was the big profit blocker)

Collected a lot of weekly premium and all said and done made 20 points

Hedge #2

Closed April 2800/2800/2810 synthetic short
Closed Dec 2500 put (too slow to get it out of the way or could’ve been big)

Collected a lot of weekly premium and all said and done made 17 points

Kinda disappointed in how I traded it but still winners…

SPX long put plays

#SPXcampaign I didn’t post a couple trades Friday… here are long put trades Friday and today…

Friday:
Sold to CLOSE $SPX Feb 16th 2600/2580 put spreads for 8.00. Bought for 1.80 on Wednesday.
Bought to open Feb 23rd 2425/2400 put spreads for 3.00.

Today:
Doubled my size of the Feb 23rd 2425/2400 puts for 1.50.

BIDU

#SyntheticStock – Earnings are now this week and my weekly call sale is sitting in next week and way out of the money. Taking advantage of the high IV and rolling it down and back into this week. Still higher than the expected move and freeing up next week to sell again.

Rolled BIDU FEB 23 2018 250.0 Calls to FEB 16 2018 242.5 Calls @ .09 credit

Covered calls sold

#CoveredCalls #CoveredCallCampaign

Sold $AAPL Mar 9th 170 call for 1.23
Sold $BABA Mar 9th 192.5 call for 1.86

Premium much better in BABA than AAPL.

WYNN Fuzzy

BTO 2020 165 call @ 35.18

STO 2020 165 put@ 30.75

BTO 2020 160 put @ 28.28

STO Feb. 16, 170 call @ 1.51

Closing GUSH

Decided to take this off more than a month early for more than 90% of the max profit.
Bought to close $GUSH Mar 16 44 calls @ .16. Sold for 2.05 on 1/11.

$SVXY Morning all. Well, all…

$SVXY Morning all. Well, all of the stock has been assigned. Basis is +/- 102. Once the market gets through these gyrations and $SVXY gets up off the mat I will sell OTM weekly calls against the long position. Whittling away at the loss a few cents at a time. Rolling as needed. These are in my IRA so I have time and patience. Hope I live that long.

SPX call spreads sold

#SPXcampaign Sold $SPX March 15th (monthlys) 2815/2840 call spreads for 1.75.

WYNN

I am thinking of doing a Fuzzy on WYNN. I don’t see it going out of business in the next 2 years.

Econ Calendar for week of 2/12/18

Be sure to periodically click “Home/REFRESH” to keep Bistro features updated

Screen Shot 2018-02-12 at 6.00.35 AM

Good Morning

Good Morning

8,600% On a Vix Bet

https://www.bloomberg.com/news/articles/2018-02-09/vix-surge-hands-8-600-profit-to-a-tiny-hedge-fund-in-colorado

Boom

#Market One thing about corrections is they can also include face-ripping rallies. This is a huge gap up… the market did what it does best on Friday… shook me out of put spreads which would be doing excellently today had I not ditched them. VIX not dropping too sharply yet, but I’ll be watching what it does during market hours. I have a couple of call spreads in trouble… not sure yet if I should forward roll or reverse roll.

#1, #augen

Notable Earnings AMC Fri (Last Week)/BMO Mon:

BWP, CNA, DO, FDC, HTLD, L, NSP, QSR, RPD, USAC

Notable Earnings AMC Mon/BMO Tues:

AB, ACGL, AMKR, APRN, ARCC, ARCH, ATR, AYR, BRX, CECO, CHGG, CORT, CRL, DAN, DBD, DNB, EIGI, FMC, G, GNRC, HCP, HIMX, LPX, MIME, MLM, MOH, NNN, NVTA, NWE, ONDK, PEP, QTNA, RNG, SHO, SINA, SREV, TRU, UAA, VECO, VIPS, VNO, VRNS, WB

Notable Earnings AMC Tues/BMO Wed:

ACCO, AER, AGIO, ALKS, AMGP, AR, BG, BIDU, BIVV, BXMT, CALX, CCS, CIM, CMP, CMS, CNO, CRTO, CSOD, DCP, DEI, DENN, DNOW, DPS, DVA, FANG, FLIR, FOSL, FRT, FSP, GEO, GRPN, HLT, HUBS, ICL, ICPT, IPG, IQV, KRNT, LECO, MET, MXL, MZOR, NBIX, OHI, OMI, ORBK, OXY, PLAB, QUOT, REXR, RPAI, SABR, SCI, SHPG, SKT, SODA, STNG, SUM, TAP, TECK, TEP, TEX, TRUP, TWLO, VOYA, WIX, WU, WYN, XPER

Notable Earnings AMC Wed/BMO Thurs:

A, AAN, ABX, ACOR, AEM, ALE, ALSN, AMAT, ARDX, AREX, ARI, ARRS, AVP, BAM, BCOR, CBB, CC, CCE, CF, COMM, COWN, CSCO, CTL, CVE, CYBR, CYS, ECA, EQM, EQT, FTS, GEL, GG, GNC, GPN, H, HCC, HII, HL, HPP, HR, ICLR, IFF, INCY, IRWD, KGC, KIM, MAR, MFA, MRO, NLY, NTAP, OIS, OMC, PATK, PBF, PDS, PPC, RMP, RS, SB, SHOP, SLF, SON, SPWR, SYNT, TGH, THS, TRIP, USFD, VNDA, WCN, WM, WMB, WST, XEC, YNDX, ZTS

Notable Earnings AMC Thurs/BMO Fri:

AEE, AMN, ANDV, ANDX, ANET, AUY, AXL, BL, CBS, CGNX, CHSP, CLD, CPB, CRAY, CUBE, CXP, DDR, DE, DLR, DTE, EEP, ENB, EPAM, FLS, GLOG, GVA, HTA, IPGP, IRM, ITT, KHC, KO, LOGM, MDRX, MRC, MULE, NHI, NMIH, NUS, NWL, , OZM, PDFS, PES, PGRE, PI, POR, PXLW, R, SEP, SHAK, SIR, SJM, SNBR, SPXC, SSNC, STAG, TRUE, VFC, WBC, WES