Taking the ITM vertical debt…

Taking the ITM vertical debt spread idea a little farther, here is an example. Best returns appear to be on the leveraged products but higher risk, obvious with the higher premiums. Here is a TQQQ example. 10 point spread, 20 DTE, 10 lot $1350 profit, max loss 8650 if you don’t manage it, and it is 33 points ITM now. Could it hit the short strike, possibly but would require more than a Feb 6 event to get there.

The more I look at these, the more I like. Easy to roll to #fuzzy if needed. Set up a ladder and would be a good income stream. Thoughts, other comments, see anything I am missing? I have an ERX one on now, it was challenged last week but never hit the break even point. I will likely roll it 3 weeks out this Thurs. or Fri. to avoid the assignment fees as long as it will close at or a few pennies shy of 5. If not will let it expire.

If it works I think we should call it a #supercharger

2017-12-01-TOS_CHARTS

Wife is already asleep, daughter…

Wife is already asleep, daughter has a friend over so looking at some possible trade ideas. Taking the ITM debit spread a step further here are some numbers to consider. Based on closing prices all 22 DTE so we are comparing apples to apples. TNA as example, this is leveraged but with excellent weekly premiums. 10 contracts on all to keep the numbers consistent. These are all about 6 points ITM on the call side or 6 points OTM for the puts.

50/60 vertical debit spread cost 8.95 for a 10 point spread at expiration. Max profit $1050. Max loss $8950 but this can be converted. 11.7% ROC for a 140.4% annualized return.

60 strike CC 58.22. Max profit $1780. Max loss 58,220 for 3% ROC or 36% annualized.

60 put requires full cash secured because leveraged. 54,471 at risk for $1020 max profit, 1.87% return or 22% annualized.

All could be rolled or hedged if needed.

I am going to experiment more with these, like the idea, the returns, limited risk and can be done in a smaller account. Also could set up a ladder for an income stream. Right now have ERX going, may add FAS and TNA in small contract size in a few weeks.

#fuzzy

Expiration

$SPX 2585/2610 What a year and it is only three months long.
Have a great Easter/Passover. Three days to enjoy on hopefully, a high note for all.
Thanks for all you help.

XBI

#Fuzzy – STO XBI Apr06’18 91 calls for 0.47.

Have a nice holiday everyone!

Have a nice long weekend

Back on Monday.

Happy Easter!

Enjoy the long weekend everyone! Resting up…16 underlyings with expirations next week. Gonna be fun!

This week in covered calls

Wednesday: BTC $BABA Apr 20 2.10 call for .35. Sold for 2.90 on Mar 15th.

Today:
BTC BABA Apr 13th 205 call for .20. Sold for 2.05 on Mar 6th.
STO BABA Apr 27th 200 call for 1.90
STO $FB Apr 27th 175 call for 1.60
STO $AAPL Apr 27th 180 call for 1.55

#CoveredCalls

RH roll

#Earnings #StrangleRoll
BTC $RH Mar 29th 91.5 calls for 4.30. Sold in 65/91.5 earnings strangle for 2.53 on Tuesday.
STO $RH Apr 20th 87.5/100 strangles for 4.535.

WFC

STO September 45 puts @ 1.08

STO October 40 puts @ .61

XBI strangle

Idea from TastyTrade
Sold $XBI May 18 75/96 strangles @ 1.85
XBI currently at 88.96

SPX puts sold

#SPXcampaign Sold $SPX Apr 27th 2460/2435 puts for 1.75.

This does not fit into my approach of selling at extremes, but it is the last hour of the week and I had not sold my standard second put spread. Since VIX has not dropped too much I am not assuming the big down days are over. I will sell some additional calls if we close higher. Or puts if we sell off into the close.

FAS Fuzzy

BTO 2020,63,63,61

Sold 6April 13,  65 calls @2.53

#pietrade BTC the ANDV 108…

#pietrade

BTC the ANDV 108 call 15 DTE for 0.25. Sold for .95. Part of a strangle. Leaving the 95 put on still has .70 left.

When I roll the put will convert to #jadelizard. I violated my own rule of selling naked calls on individual names as a recovery for the dip(s). Strangles on ETF’s and indexes are ok because the entire ETF will not be bought out by another company. I had to pay up when Berkshire bought heinz a few years ago so learned my lesson on uncovered calls on a single company. Will unwind UTX and NSC calls as soon as they decay a little, hopefully over the long weekend.

Sold Early SPX / SPX Campaign

Sold Early
#spxcampaign
$SPX BTC 3/29 2600/2625 at 2.00 STO at 1.60. At one time this trade down A LOT. Glad to close it at a small loss even though market looks strong. I am not strong! 😉

#spxcampaign
$SPX STO 4/13 2745/2720 BECS at 3.50 Thank you @jeffcp66

XBI # fuzzy

BTO January 2020, 88,88,86

STO April 91 calls, total cost of 12.35

EWW

#SyntheticStock – Forgot to do this til now: BTO EWW Jan17’20 52/52/50 synthetic for 5.00. Max loss would be 7.00, trade runs for 94 weeks so need 0.075 cents a week to break even. STO EWW Apr06’18 52 calls for 0.30. Been needing something long term and stress-free (I hope!). Thanks to @fuzzballl!!!

VXX

#BullPutSpreads – Closing the short side of BuPS sales that I sold to finance Jan 2019 BePS. I’ll leave the long side and maybe get lucky next week.

Bought to Close VXX APR 6 2018 40.5 Puts @ .05 (sold spread for .47)

#pietrades A bunch today since…

#pietrades A bunch today since this is effectively expiration day. But it is nice out, first day can wear shorts here so going outside as soon as all the trades execute, still working 1 order.

GM Rolled 38.5 CC 22 DTE to 29 DTE for 0.17 credit. CB now 38.33. Taking forever to work this one back, will just be happy to scratch it so I can use the money somewhere else. For those following, I am taking this off the #pietrade list for a while, weekly premiums are not good enough for as much as it is moving around and to prone to steel tariff tweets.

FAS today 65 CC to next week 64 CC for 1.58 credit. CB 62.07
FAS today 64 CC to next week for 1.59 credit. CB 61.11

LNG Apr. 6 to Apr. 13 55 CC down to 54 CC for 0.52 credit. CB 53.27

ANDV 95/108 15 DTE strangle looking good, probably roll Monday to new week but #jadelizard the call side.

ERX 21/26 long debit 8 DTE should expire for full profit next week. If for some reason stays below 26 will convert to #fuzzy. I can add another 9 months to the long call for $3 and can sell $2 in premium each week, kind of a no brainer. However, this is also part of a deep ITM #syntheticcoveredcall experiment so my plan is to actually roll it next week and re-establish the position. On a percentage basis looks like a 13.7% return every month with moderate risk but very little work. Potentially a 160% annualized return so this is worth trying. I think this is what Chuck Hughes does to get some of his high returns. Buy deep ITM call with almost no time value, then sell ITM call that has a decent amount of time value left. Gives 10-20% downside protection and can still make max profit. I will keep one of these running for a while and report the results as it unfolds. Cheaper way to play a CC or #fuzzy maybe.

NSC 131/143 strangle 15 DTE. It moved around so much still at break even. Hope some theta decay will make some profits this weekend. Earnings late April so will only roll the put side.

UTX 122/132 strangle 36 DTE. Had to adjust. Same problem as NSC. Will let some of the premium suck out of it then only roll the put side. Earnings late April or I may #jadelizard both so there is no risk to the upside.

Hoppy Easter as the kids say! Hope everyone has a good long weekend.

I am still showing paper losses from the SVXY implosion. My net liq. keeps going down because of all the adjusting, only 1 positive week since Feb 6 but it was a good one. However, once these all close will have a nice bump finally and the theta decay is huge now, close to 800 per day, just need a few days of not whipsawing so it makes a difference. Once everything closes in 1-3 weeks will at least be positive for March.

Cheers, Chris

REGN

#SyntheticStock – Been selling against this all the way down. It’s in a squeeze and attempting to get off the ground but seems to get rejected right around this level each time. Rolling up and out a little for now…

Rolled REGN APR 6 2018 340.0 Calls to APR 20 2018 350.0 Calls @ .40 credit

AZO

#BullCallSpreads – Letting this week’s expire so selling next week…cost basis reduction in the Jan Bull Call Spread…

Sold AZO APR 6 2018 660.0/690.0 Bear Call Spread @ 2.50

XBI

#SyntheticStock #IRA – Thanks @1strangealien for getting this one back on my radar. I’ll take a shot out in Jan.

Bought to Open XBI JAN 18 2019 88/88/86 Synthetic Stock @ 7.69 (filled better than mid)

Max loss of 9.69 with 42 weeks to run requiring 23 cents per week to cover.

So:

Sold XBI APR 6 2018 89.0 Calls @ .83

XOM

Rolled Mar 29 76/74 BuPS to May 4 76/73 .30 Db need to add call to try to come back with this one. #Fuzzy did not work so far
BTO May 4 76 1.08

FAS

#SyntheticStock – Getting the next sale going. Going out two weeks to give it a little room with much better premium with bank earnings cranking up. JPM on the 13th and MS GS and BAC the following week so premiums should be pretty sweet that week too.

Bought to Close FAS MAR 29 2018 65.5 Calls @ .03 (sold for .85 as a bonus week 🙂 )

Sold FAS APR 13 2018 65.0 Calls @ 2.15

#pietrades

LUV

#SyntheticStock – Looks safe this week so selling next week on this tiny pop…

Sold LUV APR 6 2018 57.5 Calls @ .54

XOM

#SyntheticStock – Next week’s sale…still a weak looking chart but starting to form a nice squeeze. Gonna see if I can “squeeze” in one more aggressive weekly before this thing rebounds and runs to glory (or not 🙂 ). Jumped the gun on it…could do a little better now.

Sold XOM APR 6 2018 74.0 Calls @ .60

Expiration /Rolled LABU CC / AMZN IC / Close Early BIDU BECS / FB BUPS

#optionsexpiration
$SPX 2500/2525 BUPS Thank you @jeffcp66

#shortcalls
$LABU BTC 3/29 90 calls STO 4/13 87 calls for 2.14 credit
#ironcondor
$AMZN STO 1180/1190/1610/1600 IC for 1.95 Thank you @thomberg1201
#shortputs
$FB STO 4/20 135/145 BUPS at 1.85

Closed Early
$BIDU 4/20 290/280 BECS at .15 STO at 2.05

SPX Trades

#spx

STO May4th 2425/2525 BUPS at 15.10 credit….

XBI

#Fuzzy – Right before close BTO XBI Jun’18 88/88/86 synthetic stock position for 3.70.  Unhedged for now. XBI printed a dragonfly doji today and Tech is due a bounce, right? Crossing fingers and toes.

XOM

#SyntheticStock – Right at the bell…no time to sell next week.

Bought to Close XOM MAR 29 2018 74.5 Calls @ .03 (sold for .48)

EWW

#SyntheticStock – Core position is all the way out to 2020 requiring .10 per week to cover max loss. Weak market so I will continue aggressive selling. Pretty good weekly income while it grinds around. Gonna throw this out as an example of how I’m trying to keep the big picture on how these will hopefully turn out some day.

10 lot Jan 2020 48/48/46 synthetic with max loss now reduced to about 8900. That’s actually a little high too since I rolled a small loss on a strangle into the synthetic cost.

30 cents per week in sales for the next 94 weeks brings in 28200. Assuming max loss then total gains are 19300. Over two years against 3800 in margin is about 150 percent annualized on margin. These are rough numbers but still something to keep in mind looking on down the road. Do that in 10 different underlyings and you’ve got a pretty good annual income that’s (hopefully) low risk. Running the numbers for 40 cents per week and 50 cents per week really starts getting interesting especially when factoring in the possibility of not taking max loss!

It’s tough watching the drawdowns when the core is getting hit but looking out further helps a lot. If the stock tanks right after you set the trade the drawdown will be pretty tough to watch but realizing it is capped with plenty of time to continue selling helps a lot. Adding up the max loss on all the positions is a nice way to figure out what your absolute bottom could look like overall also. Knowing this will help control position size. Each weekly sale over and over again reduces that ultimate max drawdown number.

Bought to Close EWW MAR 29 2018 51.5 Calls @ .03 (sold for .40)

Sold EWW APR 6 2018 51.0 Calls @ .50

FB

If the stock finishes up on the day with the volume, we may have a tradable bottom.

#pietrade

SWKS Aug

Sold $SWKS Aug 17 70 puts @ 1.25
#FallingKnife

TQQQ

#ShortPuts #IRA – Thanks again @jsd501 …..

Sold TQQQ MAY 18 2018 80.0 Put @ 2.00
Sold TQQQ SEP 21 2018 80.0 Put @ 6.50

Closing BKNG

This one has been hanging around way too long, mainly because of the lack of liquidity in the options. Finally got the opportunity to take it off for 75%+ profit. I’m probably going to avoid trading the options on this stock going forward.
Bought to close $BKNG Apr 6 2220/2240 BeCS @ .58. Sold for 2.55 on 2/28.

#ironcondor AMZN 100% IV rank,…

#ironcondor AMZN

100% IV rank, down another 70 today sold April 20, 1180/1190/1600/1610 for 2.00

Realized equity volatility highest in 2 years

From Seeking Alpha:

The S&P 500 has moved more than 1% in 20 sessions over the last two months vs. a total of 10 such moves in the prior 12 months before that (via Michael Batnick).

With rising volatility, exotic ETFs are seeing increased volumes, most notably inverse leveraged technology products. Volumes for funds like the 3x short Nasdaq 100 is touching multi-year highs, with investors betting on both sides of the trade.

“One theory for SPY and VXX’s lack of heightened volume might be that the very big fish aren’t worried or are already hedged, and that the sort of mid-sized institutional crowd is playing this,” says Bloomberg’s Eric Balchunas. “It’s the quick buck trading group.”

ETFs: VXX, UVXY, XIV, TVIX, SVXY, VIXY, ZIV, VXZ, VIXM, VMAX, VMIN, VIIX, CVOL, XVZ, TVIZ, XXV, IVOP, VIIZ

#shortputs WBA sold May 18,…

#shortputs WBA

sold May 18, 60 put for .74

SPX calls sold

#SPXcampaign Sold $SPX Apr 27th 2800/s825 call spreads for 1.50. Looks like it filled at the high tick of the day.

#volatility What a day for…

#volatility

What a day for trading volatility. I’m buying and selling UVXY and calls the next couple of weeks out. Range is $19.50 to $21.50 seemingly heading higher. Nice short-term trades. I’ve closed March 29 $20 puts for nice gain. It sold for $1 as late as $20.15 this morning.

NVDA

#ShortStrangles – Rolling the call side down to near all time highs for additional credit…

Rolled NVDA APR 27 2018 265.0 Calls to APR 27 2018 250.0 Calls @ 1.73 credit

TQQQ

STO January 2019, 80 puts @ 9.10, but staying small and scaling in. This ETF will be a long term trade for me if I am assigned.

RH earnings

#Earnings Closed $RH Mar 29th 65 puts for .05. Is it possible to trade this one for earnings without getting shredded on the call side? Seems not. My 91.5 calls slightly ITM. Will roll or wait for tomorrow.

Sold the strangles yesterday for 2.53.

TSLA

#ShortStrangles – Even though it’s only a one lot strangle, I’m going to play it cautiously. Closing the short put and will continue to sell calls or call spreads to get back to even as long is the stock is below about 300. Could be setting myself up for a whip saw but there’s no telling how low it can go. Once a little bit of good news comes out I may start selling the put side again.

Bought to Close TSLA APR 27 2018 312.5 Put @ 54.90

Sold against next week’s 300 call. Total premium received so far of 22.65.

SPX calls sold

#SPXcampaign I was trying to stick to my rule of only selling at extremes. My suspicion was that the peak above positive for the morning was the extreme high for the day. For once, I was correct (so far).

Sold $SPX Apr 13th 2720/2745 call spreads for 3.15. Part of a #CondorRoll from puts stopped yesterday. Will try to sell put side on or near an “extreme” low.

Good morning

I am not doing much these days.

FYI tt joint accounts announced…

FYI tt joint accounts announced in an email today:
“Joining Finances has Never Been More Exciting…
The wait is over and you can finally do just that with a tastyworks joint brokerage account. And the good news is, it only takes a few short minutes to open an account!”

“P.S. We are now currently offering SEP IRAs in addition to, Individual Margin accounts, Traditional IRA accounts, Roth IRA accounts,Trust accounts, Corporate accounts and Joint Accounts. Custodial accounts will be added shortly.”

SPX whipsaw

#SPXcampaign I have never been so whipsawed in my trading career. I have been stopped out at extremes too many times to count. I am forced now to take a new approach:

1. Tone down the aggression.
2. Only sell at extremes. How do I define extremes? That’s not always easy, but I would say yesterday’s close and today’s close would qualify.
3. Try some cheap long spreads, purchase at extremes. The amount I’m getting eaten alive with short spreads makes me always wish I’d been long rather than short. Need to try it.

That will have to do until VIX gets back below 17.76 (at least), and not comfortable going back to aggressive strategies until it’s below 12.61.

Today:
Stopped $SPX Apr 27th 2770/2795 call spreads for 3.75. Sold yesterday for 1.60. This was well over 4.00 at the highs, which is my stop point, so at least I waited for some pullback.
#ReverseRoll – plan was to sell a condor as a roll, I was filled on put side, then never filled on call side. And then, I had to stop out. Great illustration of how difficult this strategy is in this market.
Sold Apr 4th 2560/2535 put spreads for 1.95. Stopped later for 5.35.

Stopped Apr 13th 2550/2525 put spreads for 5.95. Sold yesterday in a #CondorRoll for 6.30, when a CALL spread was stopped.

Stopped Apr 27th 2550/2525 put spreads for 2.50. Sold yesterday for 1.75. At least I got out on this one at a bounce.

TRTN

BTC Oct 19 #CoveredCalls @ 1.45 sold at 2.45 on March 16.

#earnings #shortstraddle RH At the…

#earnings #shortstraddle RH

At the bell,sold April 20, 75 straddle for 14.25

UVXY calls

#VXXGame Sold a couple against my far-OTM long hedges:
Sold $UVXY May 18th 25 call for 2.60
Sold $UVXY Jun 15th 30 call for 2.50

This product is much less crazy since they reduced the leverage.

TQQQ

STO January 2019, 60 puts @4.50 with stock trading at 140.

Lowest TICK readings since Feb 8th.

This is most whipsawing I can remember seeing in years.

#fallingknife, #volatility

CELG

#SyntheticStock – Getting a jump start on next week’s sale. Haven’t close this week’s yet and since it’s in an IRA I’ll need to sell a spread instead. Trade is a shorter one only out to July. Sitting well below the core and needing 36 cents per week to cover max loss.

Sold CELG APR 6 2018 90.0/95.0 Bear Call Spreads @ .53

TSLA

#ShortStrangle – Rolled the put side out and down yesterday. Selling calls against it….with 5 or 6 dollars a week available on the call side the put shouldn’t get hurt too badly.

Bought to Close TSLA MAR 29 2018 305.0 Call @ .80

Sold TSLA APR 6 2018 300.0 Call @ 6.05

Position is Apr 6 300 call and Apr 27 312.5 put @ 22.65 credit

Stock gets in between the strikes again then that’s good. Stock keeps dropping then my basis on the short put is 289.85 with 3 more weeks to sell before deciding on the put.

NVDA

#ShortStrangles – Been looking to get back in this thing. Self driving technology put on hold temporarily is the rumor. Selling strangles 30 days out and before earnings. Puts below the 200ma and calls well above all time highs.

Sold NVDA APR 27 2018 195.0/265.0 Strangles @ 4.15

RH earnings

#Earnings Selling $RH March 29th 65/91.5 strangles for about 2.40. Selling legs separately (1.40/1.35 for puts, 1.20 or lower for calls).

This has long been a big mover, so proceed cautiously. Over last 12 quarters, Biggest UP move: 44.8%, Biggest DOWN move: -25.7%, Average move: 12.6%. My strikes are +19.6% and -15.0% OTM.

#pietrade UTX widening out the…

#pietrade

UTX widening out the strangle. Rolled the 24 DTE 125/130 strangle out to 38 DTE at 122/132 for 0.36 credit. 5 points wider and more time to manage if needed. I had pulled it in with the drop but now need to give it more room.

UVXY

#BearCallSpreads – A small one out to April…

Sold UVXY APR 20 2018 24.0/34.0 Bear Call Spreads @ .70

TLT

#PerpetualRollingStrangles – Just to give it a little more room….

Bought to Close TLT MAR 29 2018 120.5 Calls @ .31 (sold for .62)

Sold TLT APR 6 2018 121.0 Calls @ .40

Jeff is Bistro working?

Jeff is Bistro working?

FDX

Thank you Jeff I closed the 270 for 0.02 waiting for the 240

Closed Early / Long Calls / Short Calls / SPX Campaign

Closed Early
$SPX BTC 3/29 2600/2625 BUPS at 6.00. STO at 1.60 Left a few open. See what tomorrow brings.
$FB BTC 4/20 155/165 BUPS at 4.50 STO at 1.80 Should have kept some.

#longcalls
$MSFT BTO 4/20 95/97.50 BUCS at 1.05
#shortcalls
$LABU STO 3/29 90 calls at 2.20 (Covered)
$FB STO 4/20 170/162.50 BECS at 2.00
#spxcampaign
$SPX STO 4/27 2795/2770 BECS at 2.20 Thank you @jeffcp66
$SPX STO 4/27 2400/2425 BUPS at 1.90 Thank you @jeffcp66

SPX roll

#SPXcampaign
Stopped: $SPX Apr 6th 2700/2725 call spreads for 6.00. Sold for 3.10 on Friday.
#CondorRoll: Sold Apr 13th 2525/2550/2745/2770 condors for 6.30.

FAS

#SyntheticStock #LongCalls – With my margin hog AMZN position out of the way now it’s time to start looking for new opportunities. I’d like to stay involved in the banks so this seems like a good way to do it. Wasn’t having much luck out in 2020 with the market makers for a 2 strike wide synthetic. Instead, just going to Jan 2019 and buying the straight calls. (only 5 wide strikes in 2019 anyway). As @hcgdavis pointed out, the weekly premium is really nice in this ticker.

Bought to Open FAS JAN 18 2019 65.0 Calls @ 10.50

Max loss of 10.50 with 42 weeks to run so need 25 cents per week to cover.

So: (premiums are so good that this is a freebie. 42 weeks to go is AFTER this week…crazy!)

Sold FAS MAR 29 2018 65.5 Calls @ .85

XLY

#SyntheticStock – With my margin hog AMZN position out of the way now it’s time to start looking for new opportunities. Whiz pointed this one out the other day. AMZN is a big chunk of it so a cheaper way to stay involved. Pretty nice weekly premium as well.

Bought to Open XLY JAN 18 2019 102/102/100 Synthetic @ 6.50

Max loss of 8.50 with 42 weeks to run so need 20 cents per week to cover.

So:

Sold XLY APR 6 2018 103.5 Calls @ .73

#pietrade FAS CC 68 CC…

#pietrade

FAS CC 68 CC expired worthless on Fri. STO the 67 CC with 11 DTE for 0.95. Brings cost basis down to 66.25.

Hope to start taking some profits on the strangles later this week on ANDV, NSC, UTX (whipsaw on this one, I rolled the call down Friday and now rebounding.

TSLA put spread

Taking a shot with IV at its 52 week high (IVR=100). Sold $TSLA Apr 20 265/255 BuPS for 1.40. Short strike is at 20 delta.

SLB

#Earnings – For anyone trading along in this, the earnings date is now confirmed for Apr 20th. I’ll be trying to keep all the weekly sales prior to that and then decide whether to sell, close, or sit out the announcement.

First one in my current positions list to confirm a date…

TSLA

#ShortStrangles – Fun little single contract position I’ve been playing with….rolling every week to inverted or straddle or strangle or whatever is needed.

Currently sitting at this week’s 332.50/305.00 Inverted @ 17.40 total premium

Weekly premium is through the roof so taking a more traditional approach. Rolling the put side out and down to what I hope is just prior to earnings. Letting this week’s short call side hopefully expire and then continuing the weekly call sales against the short put.

Rolled TSLA MAR 29 2018 322.5 Put to APR 27 2018 312.5 Put @ .40 debit

DG

#SyntheticStock – This week’s 95.5s look safe so adding next week’s sale into the pop.

Sold DG APR 6 2018 93.0 Calls @ .95

SLB

#syntheticStock – Selling up into resistance again…

Bought to Close SLB MAR 29 2018 68.0 Calls @ .03 (sold for .27)

Sold SLB APR 6 2018 65.0 Calls @ .90

SPX calls sold

#SPXcampaign Sold $SPX Apr 27th 2770/2795 call spreads for 1.60. Playing things at the standard distance OTM (.10-.15 delta) while the market is wily.

SPX puts sold

#SPXcampaign Based on the way this market has been acting, lows that create a bounce this big result in a multi-day rally. While I’m not saying the coast is clear for new all-time highs, we should remain buoyant to bullish at least for a few days. So I’m selling puts rather than calls on an up day (however, the weakness since the initial pop is making this less certain). If we reach back toward 2700 I’ll be playing it more neutrally until the Downside Warning gets canceled, which is not until VIX closed below 12.61.

Sold to Open Apr 27th 2425/2400 put spreads for 1.75. Already up above 2.00 since we’ve sold off from the highs. If you wish to follow, I suggest going with the 2400/2375.

CRUS REGN VXX

#SyntheticStock #LongCalls #BearPutSpreads #BullPutSpreads – Selling what I didn’t get a chance to on Friday. Glad I waited on these. Going out another week to take advantage of the entire 3 day weekend…

Sold CRUS APR 6 2018 43.5 Calls @ .50

Sold REGN APR 6 2018 340.0 Calls @ 2.11

Sold VXX APR 6 2018 40.5/37.5 Bull Put Spreads @ .47

Econ Calendar for week of 3/26/18

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Screen Shot 2018-03-26 at 5.19.31 AM