Closed Early –
$SQ STC 3/16 46 call at 4.10. BTO at 5.50. Probably should have waited but this quick move up let me get out at a reasonable loss. Cannot predict future or look gift horses …
$BIDU BTC 3/16 210/220 BUPS at 82% profit on a GTC order
I am curious if there is a version of #SPXcampaign that does not require watching the monitor all day long?
I reviewed all posts on this site for #SPXcampaign going back to 2016 and noticed that Jeff has to do a lot of rolls and must stay on top of the action.
Going far out and down, does reduce the need to watch SPX every day, but it also produces small results.
Someone recommended going with a fewer contracts, but $50 to $100 wide, because it would be easier to manage a spread this wide.
In 2015 I was actively trading SPX spreads $20 wide and got wiped out in August.
Just trying to find something more consistent and less demanding. 🙂
Edit: I have a regular margin account, no portfolio margin.
Any suggestions?
#SPXcampaign With today’s 52-point range and a fat ATR, it’s much harder to sell short-term spreads because the swings can just crush you in the last hour of the day. So, when I entered this condor with the intent of selling it, I decided to buy it instead when I saw how cheap it was.
Bought to open $SPX March 7th 2640/2665/2775/2800 #LongCondor (1st use of that hashtag) for 1.55.
#shortputs
A quick question.
I have puts on MCD ITM – Mar 16 $155 originally sold for 0.83
Is it a good time to roll out, or out and down?
Thanks.
ERX #PIEtrades Elected to get in this on with that base formed between 26 / 28. Sold to open Mar 9th 27.50 Put at 0.70 with ERX at 27.69. Thanks hcgdavis for the ticker.
#SPXcampaign Seems to me we may be in consolidation for awhile, chopping around. The Downside Warning was canceled, then reinstated, but the second one has NOT produced new low. So I’m going to play the swings as best I can until it stops working. Missed my chance to sell one of these at this morning’s low… had an order ready but it took off on me.
Sold $SPX March 9th 2750/2775 call spreads for 3.80.
#shortputs #coveredcalls T
sold April 20, 35 put for .63. I also have a Tradewise advised March, 39 covered call that I expect will be rolled any day now. stock price is 36.63
#pietrades and #vxxgame
Looking at the new structure of SVXY, it will take decades for it to get back to 100 (just my opinion) so rather than sitting on dead money, I closed out all my SVXY stock from 12.34-12.40 at large losses no longer just a paper loss. But that is so I can use what’s left to make some money back. It will take about 2-4 years to get back to where I was if I can avg. 50% returns, slightly less if I can do better. Unfortunately one of the disadvantages of going back to small accounts is you lose the leverage, especially on non-margin accounts so I am having to be more conservative. I still have one contract of SVXY at 50 for Jan 2019 that has not been assigned. Hopefully they will wait…..it was easy money while it lasted but I think we all have a better understanding of the risks in SVXY now!
At least I only trashed 2.5 accounts this time, in 2015 it was my main trading account so at least not as bad as then on a percentage basis. On a dollar basis it was more 😦 though.
With that in mind and some of these orders are still working but should go through.
1. FAS 68 CC this week for 67.15
2 FAS 66 CC for next week at 65.11
3. WDC 87 CC for next week for 86.09
4 LNG CC (assigned over the weekend at 55.02 cost basis) 54 CC at 0.4 cost basis now 54.65
$765 in premium for 12 days, far away from what it used to be but all of these have a little downside protection in them and should not go to zero like SVXY could. Bringing some money in every week is better than a loss or having it just sit there.
Will add some long term #fuzzy in a few weeks as they can have 100% returns on capital over a year.
Not doing much today. Enjoying the little drop in volatility and the theta decay. Weeklies rolling off in 14 tickers on Friday. Love to see them all expire! If I can roll or re-sell one more week I’ll be looking at 22 expirations next week. As long as the synthetic isn’t tanking too badly it’s tremendous weekly cash flow into the account.
Almost forgot how nice it was to have VIX up closer to 20!
#CoveredCalls #CoveredCallCampaign
Sold $FB April 6th 190 call for 1.85.
#SPXcampaign Now the other side of the puts I sold this morning:
Sold to Open $SPX Apr 6th 2840/2865 call spreads for 1.75.
Rolled $NFLX Mar 23 270/300 strangle up and out 1 week to Apr 6 300/315 strangle for .93 credit
STO March 9, 172.5 calls @ .60 cents replacing the 170 calls that expired on Friday. I have 97 more weeks to sell weekly calls.
#fuzzy #shortcalls MCD
On Feb. 22 I stated that MCD had stabilized following a drop after earnings and entered into a Sept. fuzzy. MCD went up a couple more days and promptly dropped about 15 more points (the 155 long put looks really good right now). Today, sold a March 9, 155 call for .27, MCD is up to 150.
The chart is not looking good this morning so, I rolled the March 9, 177.5 calls down to the March 16, 175 calls for a credit of .37 cents on my 2020 Fuzzy.
$SPXL #PIETrade Taking a shot at this one Sold the Mar 16th 43 Put at 1.40. Filled with SPXL at 43.45 There are only monthlies on this on so maybe it doesn’t qualify as a true PIETrade.
#SPXcampaign Sold to open $SPX Apr 6th 2475/2450 put spreads for 1.65.
Be sure to periodically click “Home/REFRESH” to keep Bistro features updated.
February Jobs report is this Friday, 8:30am ET.
Options Bistro 