#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
