#SPXcampaign Closed in pre-market on GTC orders:
$SPX Feb 28th 2675/2650 put spreads for .30. Sold for 3.80 on Wednesday.
$SPX Mar 2nd 2625/2600 put spreads for .30. Sold for 5.75 on Feb 13th.
Monthly Archives: February 2018
Econ Calendar for week of 2/26/18
Be sure to periodically click Home/REFRESH to keep Bistro features updated.
JOBS report will be the SECOND Friday, March 9th.
Good Morning
Good Morning
Notable Earnings AMC Fri (Last Week)/BMO Mon:
AWI, BCC, CLDT, CPRT, CRK, DF, ECYT, EMES, GOV, I, KOS, NSA, SEMG, SN, VST, WBT
Notable Earnings AMC Mon/BMO Tues:
ALDR, AWR, BGC, CLGX, CLVS, CRC, CRZO, DK, DPLO, DRH, EHC, ESV, EXEL, FIT, FRAC, GSM, LNTH, NTRI, NUVA, OKE, PANW, PDCE, PEGA, RBA, SBAC, SNHY, THC, TWOU, VERI
AES, AMAG, AMRN, AMT, AZO, BCRX, BLD, BMCH, BMO, BNS, CRI, DISCA, EE, ENDP, EV, FI, GCP, GTN, HYH, IART, IONS, IPI, LAMR, LGIH, LL, LXP, M, MNK, NXST, PAH, PNM, PRGO, RLGY, SAH, SEAS, SERV, SFL, SHLX, SHOO, SNH, SRE, STAY, STKL, TOL, VSI, XHR
Notable Earnings AMC Tues/BMO Wed:
AAXN, ACAD, AKAO, ALB, ATSG, ATUS, BBG, BGFV, BGS, CPE, CTRE, CYH, DAR, DEPO, DXCM, ENPH, EOG, ESRX, ETSY, EVH, EVHC, FGEN, FPRX, FTR, GTE, HTZ, IMAX, JONE, LADR, LYV, MASI, MHLD, MNKD, MTZ, NBR, OAS, OUT, PCLN, PZZA, RLJ, RRC, RRD, RRR, RSPP, SQ, SRG, SUPN, TDOC, TIVO, TPC, TSRO, VEEV, WDAY, WMGI, WTR, WTW, XOG
ADI, CHS, CLH, CROX, DOC, DRQ, DY, FOLD, FRO, FSS, HZNP, LIVN, LNCE, LOW, OCN, ODP, PCRX, RDC, SBGI, SSP, SSYS, STWD, SYNH, TA, TJX, TTI, UNVR, VRX, WP
Notable Earnings AMC Wed/BMO Thurs:
ALEX, AMBC, BLDP, BLDR, BOX, CRM, DDD, ECR, EPR, FOE, GPT, HGV, HIIQ, HK, HLIT, ILG, KTOS, LB, LQ, MNST, MYL, NCS, PTLA, QEP, SGMS, TCAP, TWNK, UHS, WTI
AMC, AMCX, BBY, BID, BKS, BUD, CLNS, CNQ, CNSL, COT, CPG, CWT, DEA, FND, HPT, HZN, IPXL, ITCI, KSS, LOXO, NRG, NSM, NYLD, ORBC, PDCO, PEGI, PF, TD, TGNA, TRCO, TROX, USCR, VGR
Notable Earnings AMC Thurs/BMO Fri:
AHT, AMBA, AOBC, BW, GPS, JWN, KEYS, MBI, NKTR, NPTN, NSU, NTNX, PBYI, PK, PSTG, RDUS, SGYP, SPLK, SRPT, SWN, TNDM, UNIT, VMW, WSR, XON, ZIOP
FL, JCP, JD
Hey @fuzzballl what do you…
Hey @fuzzballl what do you think about bi-directional #fuzzies on range bound names?
I was looking at some of my recovery trades and this may work. Buy LEAPs calls and puts, and sell weekly straddles/strangles against them. You can leave the original longs on, then just move the straddles and strangles around depending on how it moves. On most names could take in $2-4 credits per week.
Would not really need a hedge because you are long the put as well as the call but there may be a margin requirement if your strikes don’t line up after a while. Looking at 1 year leaps it would probably work. 2 years would take a few weeks just to break even. Here is a WDC example using Jan 19 leaps. I used to do this with multi -strike calendars and it was hugely successful until it just stopped working (once the VIX stayed below 15). However, it benefits from increasing VIX.
#pietrade candidates for this week…
#pietrade candidates for this week or next 2 depending on how you want to trade in order I see best potential returns. It was hard to find names not way over extended, these are kind of mid range within their ranges.
1. NSC any strike between 136-140 should work. Personally I am going with 136-137 ITM CC or may go ATM depending on how we open tomorrow.
2. MAR slight call skew but puts are still good.
3. LNG same
4. FSLR definite skew to call side but either works.
Personally I am going CC if there is a skew and I do not have a directional bias.
hcgdavis, back on January 26,…
hcgdavis,
back on January 26, 2018 you mentioned a repair trade on SWKS using a put based #fuzzy. Could you please post the trade and the repair? I am trying to learn how this works. May save my bacon some day.
Thank you. Mike
Expiration / Covered Call SQ
#optionsexpiration
$SPX 2665/2790 BUPS Thank you @jeffcp66
$SPX 2550/2650 BUPS Thank you @alsumde
$WYNN 160/170 straddle Thank you @honkhonk81
$ETE 17 call (covered)
$EXAS 49.5 call (covered)
#shortcalls
$SQ 3/2 46 call at 2.00 (covered)
Thank you all. Have a terrific weekend.
CELG FSLR LUV OLED SVXY and “The GOAT!”
Was out all day today chasing the G.O.A.T. up and down grassy hills in the sunshine. Yes….that’s right…I followed Tiger Woods today in the Honda Classic. Since he was only 45 minutes up the turnpike I couldn’t pass it up. I hadn’t seen him hit a ball in person since the 1999 Byron Nelson tournament down in Ft. Worth. For a lifelong golf nut like myself, it really was a thrill even though he’s the “Old Tiger” and no longer the “Tiger of Old”. Just a lot of fun and a great day seeing him and all the young guns that were in diapers back in 1999 (if they were born yet) 🙂 🙂 .
Along with all that I did manage to find a shady spot and take care of all my #SyntheticStock and #Earnings Friday action that was needed…
Bought to Close CELG FEB 23 2018 96.0 Calls @ .02 (sold for 1.00)
Sold CELG MAR 2 2018 96.0 Calls @ .68
Bought to Close FSLR FEB 23 2018 63.0/66.0/66.0/69.0 Iron Flies @ 2.65 (sold for 2.60) small loss…
Bought to Close LUV FEB 23 2018 58.0 Calls @ .05 (sold for .60)
Sold LUV MAR 9 2018 58.5 Calls @ .75
Rolled OLED FEB 23 2018 145.0 Puts to MAR 16 2018 143.0 Puts @ .30 credit (I’ll sell calls against these for a few weeks and then maybe roll to a new strangle) basis now 138.75
SVXY – Sold almost all of my stock @ 12.90. I think I will now go all synthetic at twice the size (and much less out of pocket). This will indirectly lower my basis in all the former stock positions by half. I’ll get the exact basis on each lot over the weekend. Haven’t decided yet on adding disaster puts…I probably will at some point.
Have a great weekend!
Options Expiration for 2/23
Only 2 positions expiring today:
$RUTW Feb 23 1530/1540/1570/1580 iron condor
$UVXY Feb 23 20 calls
No assignments but I’m a little burnt on this assignment thing with the SVXY overdose. Speaking of SVXY it was up 8% today. All we need is 15 consecutive days of an 8% increase and it will be over 40 again 🙂 Ahh, fun with math.
Have a great weekend everyone.
Options Expiration 2/23/18
#OptionsExpiration #SPXcampaign #Earnings #ShortStrangles
— Expiring w/Max Profit —
$SPX 2690/2665 put spreads, sold for 5.45 on Feb 15th
$STMP 150/230 strangles, sold Wednesday for 2.30
— Expiring w/full loss —
$SPX 2425/2400 LONG put spreads, bought for 3.00 and 1.50 on Feb 9 and 12.
Downside Warning canceled
#VIXIndicator This is the first day we closed below the VIX Fib 78.6% line. Two more consecutive days will mean an Upside Warning.
Have a nice weekend to everyone
No expirations today.
SPX puts sold
#SPXcampaign Sold $SPX Mar 2nd 2725/2700 put spreads for 5.20.
#brokenwingbutterfly TSLA Followed BAT at…
#brokenwingbutterfly TSLA
Followed BAT at TT which I rarely do March16, 362.50/370/370/385, profitable below 378, TSLA has been running up
FSLR TLT SPX
VRTX up over 5% today
All my recently assigned stock position up: AAPL, BABA, VRTX, FB. And of course, SVXY.
Also, AZO earnings on Tuesday morning…. now with weeklys!
SPX trades
#SPXcampaign Sold to Open $SPX March 23rd 2845/2870 call spreads for 1.55.
#ITMroll Closed March 2nd 2800/2775 put spreads for 23.60. Sold for 23.80 on 2/14.
Sold March 9th 2800/2775 put spreads for 19.70.
Closed on GTC order: March 15th 2400/2375 put spreads for .20. Sold for 1.60 on Feb 13th.
Stopped Feb 28th 2750/2775 call spreads for 6.50. Sold yesterday for 4.45.
Cancellation of the Downside Warning looking likely. This could mean Upside Warning as early as Tuesday.
A years worth of trading…
A years worth of trading and learning condensed into as few lines as I can write.
Had 5 days off to go skiing but was 70 on Wed and raining since, not good for skiing so am getting my taxes done early this year. I review every trade from the previous year so here are some lessons I learned, a few of them the hard way.
SVXY was my biggest winner until it became my biggest loser. Don’t hold unhedged short volatility. Probably better to use spreads or just buy VXX puts. Even if I had just left the #fuzzy would have limited my losses to 5 k.
#pietrades are very effective but occasionally get one that you have to roll for a long time and ties up a bunch of capital. You can eventually roll it for even or a profit but I think there may be a better way to avoid that but have not discovered it yet. I will be looking for the happy medium between tasty trade 45 DTE and 1 week with #pietrades to see if I can avoid having to roll as much. Recent segment on tasty trade says 30 DTE may be between them. Maybe I will start some positions there on Monday.
https://www.tastytrade.com/tt/shows/market-measures/episodes/shorter-duration-or-managing-earlier-01-12-2018
Managing winners really is more important than trying to save a large loss. Had I just closed SVXY at the end of the day when we were sitting at 70 I would have broken even. Instead now have 70-80% to make up loss.
Diversification is good, but once above about 10-12 tickers, tends to water down returns. I will be trading the same names a lot more this year.
CC can make more than naked puts because of the additional capital gains and skew built into some names. I will be doing more balance between CC and put sales.
#fuzzies are a good way to recover a position that really went the wrong way. Less capital at risk and if set up with a hedge limited risk. However, they take a while to repair a really bad trade. Months in some cases.
As much as I try and have the tools, I just can’t make directional trading work for me. Don’t have the time when I am at work and when I am at home don’t want to sit in front of a computer. However, timing the option sales improves returns and winning percentage. Will sell options more often at the pivot points going forward.
Selling options beats the crap out of any other trading strategies I have tried over the years. All my good trades (except SVXY) started with an option sale as the beginning of a position.
Look at positions instead of a trade. You may lose on sales the first 4 weeks but with recovery eventually can get out with a profit.
Weekly options make adjustments a lot easier.
My fellow bistro’ers gave me a lot of ideas that ended up being profitable. Thanks! 🙂
#spycraft also works and thanks to @jeffcp66 for showing me how to roll credit spreads, however, make sure it is in an account that can handle that. Tradestation cannot which is where I was trading those and with the run up the call sides were taken out but they would not let me roll. TOS fine so will be firing up some spy trades again soon with the TOS accounts.
Keep the ideas rolling, looking forward to trading with everyone again this year and maybe we keep a 2 sided market for a while 🙂
Down done?
This is the time of the day where I post that it looks like we’ll be cancelling the Downside Warning today, but then immediately after that post, S&P drops a bit and the VIX quickly frightens itself higher.
#earningstrade #shortcallspreads OLED Sold March…
#earningstrade #shortcallspreads OLED
Sold March 16, 115/120 put spreads for .95 each, taking full loss on 135/140 put spread sold yesterday for 102. I’ve heard you can’t them all
#shortputs SVXY Closed March 2,…
#shortputs SVXY
Closed March 2, 12 put for a gain of .28, being cautious
Posting early #optionsexpiration so of…
Posting early #optionsexpiration so of course these will all reverse later today.
Should be assigned on #coveredcalls
ERX at 28
FAS at 69
GILD at 72
AAL at 52.5
These were all #pietrades so max profits for the last 3-4 weeks and I will take it. First time the net liq has gone up in a few weeks.
Next week already have the SMH 103 puts and GM 42.5 puts off several rolls (cost basis 39.75) and will add a few more on Monday.
Hope everyone has a good expiration and great weekend! Will load up some new #pietrades on Monday with the cash from the expiration.
OLED earnings repair
#Earnings #ShortPuts #ShortStrangles #StrangleRoll
Yesterday, sold $OLED Feb 23rd 140 puts for 2.15 and 2.25. In what was clearly an error by the trading Gods, the stock went down rather than up. So I’m rolling into a tight strangle because I know exactly where this stock will be on March 16th.
BTC OLED Feb 23rd 140 puts for 10.40.
STO OLEN March 16th 135/140 strangles for 12.85
OLED puts
Sold $OLED Apr 20 100 puts @ 1.40
$VIX I set an alert…
$VIX I set an alert for the VIX below 17.75 per hcgavis discussion of contango/backwardation. Just went off.
TTD
BTC April 20, 35 put @ .05, sold @ 1.50 on 1 contract.
$FCX #PIEtrade Covered my long…
$FCX #PIEtrade Covered my long stock with Mar 02nd 20 Calls for 0.18.
OLED
STO April 100 put @ 1.35 on 1 contract.
#fallingknife OLED Jun 90/250 Strangle…
#fallingknife
OLED Jun 90/250 Strangle 3.00
MU
#Fuzzy – STC MU Mar16’18 44/44/42 Fuzzy for 2.57, bought for 0.76.
BTC MU Feb23’18 45 calls for 1.17, sold for 0.31.
This ticker took off this morning plus March is just around the corner. All said and done made 0.91 on 10 contracts.
#earnings #fallingknife OLED Oh Boy
#earnings #fallingknife OLED
Oh Boy
SPX puts sold
#SPXcampaign Sold $SPX March 23rd 2530/2505 put spreads for 1.60.
BABA covered calls
#CoveredCalls #CoveredCallCampaign
On Wednesday, BTC $BABA March 9th 192.5 call for 5.05. Sold for 1.86 on Feb 12th
Sold BABA March 16th 177.5 put for 1.35
Today: Sold BABA March 23rd 207.5 call for 1.50.
EXAS puts
Sold $EXAS Jul 20 30 puts @ 1.65 with the stock at 40.32. It’s printing a dragonfly doji.
#Short call spread Buy to…
#Short call spread
Buy to close IWM Feb 23 153.5 call for 0.22, sold for $1.24 Feb 16. Let expire worthless 157 protective call, lost 0.19
Good Morning
Good Morning
Good morning
More assignments on SVXY. This time it was the 60 puts.
Closed Early SPX Campaign WYNN ALGN (Hearing Footsteps)
#spxcampaign
$SPX BTC 2/23 2710/2735 @ 8.00 STO for 1.60
#shortputs
$WYNN BTC 3/16 200/190 BECS @ .20 STO 2/7 at 1.82
$ALGN BTC 3/16210/220/BUPS at 82% profit
$Longput
VXX buy Mar 16 $40 put for $1.87, if volatility settles down even half way to 50 ma this should pay off big. VXX $43.87
#shortcalls NUGT Jan 2019 $64…
#shortcalls
NUGT Jan 2019 $64 call closed $2.10, sold $4.10. redeploying cash
Closing WBA Apr
Bought to close $WBA Apr 20 60 puts @ .40. Sold for 1.43 and 1.85 from 10/9/17-10/13/17.
With earnings estimated before April expiration I decided to close this down for most of the profit.
STMP Apr
Big move up after earnings but has come back to the lower end of today’s range.
Selling some premium in April with the IV still elevated (IVR 60).
Sold $STMP Apr 20 230/240 bear call spread for 1.72 credit.
Short strike is near the Oct highs.
Be careful with this one–markets are really wide; both of these contracts have low volume and OI.
$MU #shortputs I decided to…
$MU #shortputs I decided to close mu Feb 23rd 45 Put at .99. Just not feeling the love today. Just too early yesterday. 0.44 loss plus fees.
OLED Earnings
#Earnings – Thanks @Jeff for pointing this one out…I almost over looked it. Playing fairly aggressively and skewed bullish. Selling the put side just inside the expected move and the call side at twice the expected move…
Sold OLED FEB 23 2018 145.0/180.0 Strangles @ 4.25
COST
BTC April 125 puts @ .10, sold @ 1.25
SPX
STO Feb 23 2645/2640 .15 #Itty-Bitty
FSLR Earnings
#Earnings – Just a small low risk low probability iron fly. 3 wide on a 5.30 expected move risking 40 to make 260.
Sold FSLR FEB 23 2018 63.0/66.0/69.0 Iron Flies @ 2.60
#pietrade BTO ERX 26 CC…
BTO ERX 26 CC 8 DTE for 25.54. $278 income on 6 contracts in IRA.
Forgot earlier, should be assigned on AAL 52.5 CC tomorrow as well. I had cost basis down to 39.75 or so for decent profit in 3-4 weeks.
SRCL #FallingKnife Taking a huge…
SRCL #FallingKnife
Taking a huge hit after earnings. Sold $SRCL Aug 17 50 puts @ 1.25 with the stock at 61.48.
OLED earnings
#Earnings Sold $OLED Feb 23rd 140 puts for 2.15. Biggest UP move: 23.9%, Biggest DOWN move: -11.5%, Average move: 9.6%. Bias: +3.7%. My strike is -9.1% OTM.
Never traded this one before, but it has a nice upside bias. The -11.5% move in Feb 2016 was its biggest ever move down. Last Feb it went up 20%.
I will sell more if stock drops a bit.
SPX calls sold
#SPXcampaign Sold $SPX Feb 28th 2750/2775 call spreads for 4.45. Offset Feb 28th put spreads sold yesterday.
Closing SNAP
On the down move today, bought to close $SNAP Mar 16 20 calls @ .20. Sold for 1.20 on 2/9.
SVXY
looks like we need 17.75 on the vix now to get out of inversion/backwardization.
Of course it seems like it is taking forever (at least a lot longer than previous spikes) because we all need it to get there.
My accounts took a huge haircut on SVXY and at this point I would be happy just to see it get back to 20. At least that would only be a 50% chop instead of an 80% trimming like it is now. Actually at 50 I would be back to the starting value of the accounts, would just be down the house money I made and lost and I can live with that.
As for the rest of the week, looks like everything will expire ITM on the CC and will let them call out (ERX, FAS, GILD).
On the put side have GM 42.5 and SMH at 103 for next Friday and will add some other #pietrades on Monday.
$ROKU Sold to open Mar…
$ROKU Sold to open Mar 2nd 41 Put @ 1.25 with stock at 42.91.
#fuzzy MCD My contribution to…
#fuzzy MCD
My contribution to the fuzzy world. MCD appears to be coming back from an earnings drop and the correction.
September 165/165/160 for 717, sold March 2, 165 call for .30
AAOI
#ShortStrangles – Back to the old grind on this long running repair trade. Getting partials trickling in one at a time….
Sold AAOI MAR 16 2018 30.0 Calls @ .60
#shortputs ROKU Sold March 16,…
#shortputs ROKU
Sold March 16, 40 put for 2.20, thanks to you guys and the ROKU #earningstrades
ROKU
#ShortStrangles – Decent premium in these….170 percent return on margin (over 400 percent annualized) and even higher if I’m out sooner than expiration.
Sold ROKU JUL 20 2018 25.0/80.0 Strangles @ 2.62
AAOI
#ShortStrangles – These were in the money until the earnings flop…LOL On the bright side, with all the long puts I’m holding I’ll make more at zero. 🙂
Bought to Close AAOI FEB 23 2018 33.0 Calls @ .05 (sold for 1.10)
ROKU & STMP Earnings
#Earnings – That was fun…
Bought to Close ROKU FEB 23 2018 40.0/60.0 Strangles @ .15 (sold for 2.00)
Bought to Close STMP FEB 23 2018 160.0/230.0 Strangles @ .12 (sold for 3.20)
SPY
BTO Apr 271/271/269 Long #Fuzzy 5.57
STO Apr 280/282 .54 2x #atomicfuzzy
XOM
Rolled Feb 23 79 Call to Mar 2 77 .25 #Hedge
WMT
STO CC #Hedge Mar 2 97.5 Call .15
UPS
STO UPS Mar 29 111/113 Calls .32 2x #atomicfuzzy #Hedge
ROKU puts
Sold $ROKU Apr 20 30 puts @ 1.35 with the stock at 40.15
Good Morning
Good Morning
SPX Closed Early / Short Calls
#spxcampaign
Closed Early
$SPX BTC 2/23 2725/2750 BUPS @ 10.00 STO @ 2.10 GTC order thank goodness.
$SPX BTC 2/23 2665/2690 BUPS @ 1.00 STO @ 6.70 Thank you @jeffcp66
#shortcalls
$MSFT STO 3/16 95 call at 1.15 (Covered)
Feb 21 #Fuzzy Land Hi…
Feb 21 #Fuzzy Land
Hi there everyone! It’s been a couple days since I’ve posted, but I didn’t want to bore you with the same trades. As it turns out, I’m really liking the #AtomicFuzzy! The built in hedge is working really great this week. I was having problems sleeping over the weekend, when I can’t sleep I plan out trades in my head. The first trade I mapped out was a series of laddered SPY fuzzies in Apr/May/Jun, unhedged, totaling 250 contracts (across multiple accounts) when fully built. This would equal 25,000 shares of SPY, total risk approx $175,000, with about $87,500 profit on every $5.00 up move in SPY (assuming .7 delta). That was a fun dream. The next night I designed the same trade but as an Atomic Fuzzy. 250 contracts, risk is now aprox $87,500, and a $5 move in spy = $43,750 (assuming .35 delta).
I’ve got Atomics now on SPY, QQQ, TBT, JPM (based on #UOA today–Mar 120 calls). 45 SPY contracts, 40 in QQQ. I won’t be adding anymore unless I can get some good strike diversification.
Q’s: May 166/166/164 @ 5.86 170/175 Call Credit Spread @ 2.00 double size.
SPY: Apr 272/272/270@ 5.91 278/283 Call Credit Spread @ 1.69 double size.
There’s a chance we’re entering a range bound market here for awhile, meaning I will need to be opportunistic on taking profits, vs if we are in a trending market (that’s another reason why I went heavy on Atomics vs Unhedged). But I am trying to set up longer term trades that require little management. I do realize that SPY and Q are heavily correlated. Until more profits start getting booked, it’s still an experiment! BTW, Atomics won’t work on Fuzzy Bears due to the put skew, you can’t get enough selling put spreads to even come close to covering the cost of the protective calls.
Sue
p.s. My 45 SPY contracts have about $18,000 total risk, for virtual control of $1,215,000 of SPY shares. The beauty of fuzzies! I probably won’t post a lot unless some of these start coming off, or need some kind of management.
UPS, XBI
#Fuzzy – BTC UPS Feb23’18 110 calls for 0.05, sold for 0.43. STO UPS Mar02’18 109 calls for 0.43.
STO XBI Mar02’18 95 calls for 0.48
SPX puts sold
#SPXcampaign Sold $SPX Feb 28th 2675/2650 put spreads for 3.80.
STMP earnings
#Earnings Got put the stock last quarter so was going to skip it, but then saw @fuzzballl‘s trade and couldn’t resist. Going 10-pts lower than he did.
Sold $STMP Feb 23rd 150/230 #ShortStrangles for 2.30.
Biggest UP move: 38.1%, Biggest DOWN move: -22.6%, Average move: 17.1%. My strikes are +23.0% and -19.8% OTM.
SPX trades
#SPXcampaign In pre-market, closed on GTC order:
$SPX Feb 23rd 2775/2800 call spreads for .45. Sold for 5.70 on Feb 6th.
Sold on the post-Fed spike: SPX March 23rd 2860/2885 call spreads for 1.75
ROKU Earnings
#Earnings – This thing could go anywhere but at least it’s cheap enough to roll into synthetic if it tanks…
Sold ROKU FEB 23 2018 40.0/60.0 Strangles @ 2.00
Stock at 51 with an expected move of 8.25. Weekly IV of 248%…that is some serious IV priced in!
STMP earnings
#Earnings – Had to work a couple quarters ago to get a profit out of this ticker so going back in again for round two…IV for the week an incredible 194%.
Sold STMP FEB 23 2018 160.0/230.0 Strangles @ 3.20
Stock at 189 with an expected move of 24.30…skewing this slightly bullish.
Options Bistro 