Evening all. I’m finally getting to post after a crazy day. Contractors came in and demo’d the bath down to the studs with much violence and noise. I was out during the afternoon so missed an alert on my Mar 16th class credit spread.
#spxcampaign
BTO April 20th 2800/2810 for 4.05 with SPX @ 2759.39
Rolled my Short Mar 16th 2800 Call up to Mar 16th 2815 to form a BuCS with the long 2810 late in the afternoon with SPX @ 2777.80. This was an adjustment I made for the class trade. May not have been the best idea.
BTC the SPX Mar 16th 2365/2325 BuPS @ 0.10. Took this off incase the market reverses next week.
BTC SPXL Mar 16th 45 Put @ .60 off a GTC order. Originally opened at 1.25 on the 7th.
I have had a GTC order on my Mar 23rd 2870/2890 BeCS @ .10 that never got filled. It is back up to 1.10. Go figure.
Expired ERX Mar 09th 27.5 Thanks @hcgdavis
Hope everyone has or had a great weekend.
Daily Archives: Friday, March 9, 2018
Options Expiration for 3/9
Only 2 today, with no assignments:
$DUST Mar 9 35 calls
$UVXY Mar 9 26 calls
Have a great contango-filled weekend:
Expiration / SPX Campaign / Closed Early / Short Puts
#optionsexpiration
$SPX 2600/2625 BUPS
$SPX 2650/2675 BUPS
$COST 3/9 180/197.50 Earnings Strangle Thank you @jeffcp66
#spxcampaign
$SPX STO 3/12 2735/2760 for 3.40 Thank you @jeffcp66
Closed “Early” and as it turns out Too Early (GTC order – I was irresponsibly away from computer.)
$SPX BTC 3/9 2775/2800 BUPS at 23.50. STO for 17.00
Closed Early I am finding closing before expiration saves a lot of perspiration
$SPX BTC 3/16 2475/2500 BUPS at .10 STO at 1.40 91% profit Thank you @jeffcp66
$AMZN BTC 3/16 1420/1440 BUPS at .10 STO at 2.85
$WYNN STC 3/16 165 Calls at 21.76 BTO at 9.80 Still have a few left.
#shortputs
$EXAS STO 3/16 51.50 puts at .75
Have a nice weekend everyone. Thank you for all your inspiration and guidance.
Calling an audible
#VIXIndicator. Based on this week’s action I’m going to cancel the Downside Warning. I believe we may also have entered an Upside Warning and I started trading it that way today. This is only a small tweak in the VIX Indicator, since this particular circumstance has only happened once before this week.
What is everyone using to…
What is everyone using to track transactions for tax purposes?
I use Excel, but find that entering hundreds of transactions is a tedious process.
Some transactions are capital gains. Others are deemed to be income, etc…
For active trading there has to be a better way.
How about you? Have you found a way that works and saves time?
Final trades and Options Expiration 3/9/18
#SPXcampaign Closed on GTC orders:
$SPX March 16th 2650/2625 put spreads for .30. Sold for 3.10 on March 7th.
$SPX March 28th 2525/2500 put spreads for .20. Sold as a 1.5x roll for 2.20 on March 1st.
#VXXGame
Sold to close final $VXX long March 9th 40 put for 1.61. Bought for 1.44 on Feb 20th.
BTC $UVXY Apr 20th 26 calls for .44. Sold for 2.00 and 5.30 in early Feb.
BTC UVXY March 16th 16 call for .32. Sold for 1.95 on Feb 27th.
BTC UVXY Jan 2019 70 call for 1.20. Sold in early Feb for 6.50 (avg price) -still holding more.
Bought the following highest strikes, adding to my positions, for protection against future short calls:
April 20th 59 calls for .09
May 18th 40 call for .30
June 15th 60 call for .25
#ContangoETFs
BTC $DRIP April 20th 25 call for .15. Sold for 1.70 on Feb 9th.
#OptionsExpiration
— Expiring —
COST 180/197.5 strangles, sold for 1.55 on Wednesday.
Have a great WE Guys…
Have a great WE Guys & Gals
SLB
#SyntheticStock – Closing down the hedge on my SLB Jan’19 67.5/67.5/65 synthetic stock, BTC SLB Mar9’18 67.5 calls for 1.40, sold these last week for 0.28 so loss of 1.12 per contract. Instead of rolling immediately I’m gonna leave unhedged for now, SLB looks to be blasting out of a volatility squeeze (I hope!).
#shortputs ROKU Sold a March…
#shortputs ROKU
Sold a March 16 40 put after earnings for 2.20, ROKU turned down this afternoon, decided to bail at 2.25.
SPX long
#SPXcampaign So I’m still holding $SPX March 16th 2840/2860 call spreads, double-sized position I bought for 1.00 (avg price) back during the correction on 2/12 & 2/14. It’s been dead money for a couple weeks, but if this rally continues next week, may be nice. I’m debating whether to close half today for around 1.50…
But I added another long:
Bought to open March 14th 2810/2830 call spreads for 2.50.
VXX long sold
#VXXGame I took @ramie77‘s idea on this one, but did not close it with profit when he did. On this last day of its life, it’s paying me back a little. Selling one now and seeing if I’ll get more for the other in the next hour.
Sold to close $VXX March 9th 40 put for 1.10. Bought for 1.44 on Feb 20th.
LUV
#SyntheticStock – Another roll…I really wanted a down market today 🙂
Rolled LUV MAR 9 2018 58.5 Calls to MAR 23 2018 60.0 Calls @ .10 debit.
Small debit to pick up another 1.40 of upside.
More SPX stops
#SPXcampaign Up 1.5%… face-ripping mode
Stopped $SPX March 23rd 2775/2800 call spreads for 11.50. Sold for 5.25 on March 1st.
Stopped $SPX March 29th 2840/2865 call spreads for 3.60. Sold for 1.60 on March 1st.
I’ve been looking for even the slightest pullback to get longer, but it ain’t coming.
OLED
#SyntheticStock – Strong recovery here…
Rolled OLED MAR 9 2018 128.0 Calls to MAR 23 2018 133.0 Calls @ .17 credit
PYPL
#SyntheticStock – Going a little further out on this one. Still not sure why it’s going up after the eBay controversy from a few weeks ago..LOL
Rolled PYPL MAR 9 2018 77.0 Calls to APR 6 2018 78.5 Calls @ .15 debit picking up another 1.35 of upside.
CELG
#SyntheticStock – Another roll I was hoping would expire…
Rolled CELG MAR 9 2018 92.0 Calls to MAR 16 2018 93.5 Calls @ .35 credit
BABA
#SyntheticStock – Almost closed the whole thing yesterday. Forced to roll now…
Rolled BABA MAR 9 2018 187.5 Calls to MAR 16 2018 190.0 Calls @ .33 credit
TSLA
#Earnings – Still dealing with an old earnings strangle. Just rolling around collecting premium and it’s starting to add up.
Had a 342.5 Straddle for this week. Closed the call and rolled the ITM put out to a new straddle.
Bought to Close TSLA MAR 9 2018 342.5 Call @ .02
Rolled TSLA MAR 9 2018 342.5 Put to MAR 23 2018 335.0/335.0 Straddle @ 3.20 credit.
Current position now March 23rd 335 Straddle @ 16.40 accumulated credit
SPX
#RocketManHedge – Booking the short put and leaving the long un-hedged over the weekend…
Bought to Close SPX MAR 12 2018 2700.0 Put @ .35 (sold for 9.00)
SLB
#SyntheticStock – In a squeeze and looks ready to run. Rolling the hedge…
Rolled SLB MAR 9 2018 66.5 Calls to MAR 29 2018 68.0 Calls @ .22 debit picking up another 1.28 of upside.
AZO
Leaving this under my #SyntheticStock tag even though it’s slightly modified. Replacing this week’s expiration with another hedge. Reducing basis in Jan 2019 660/760 BuCS by selling bear call spreads.
Sold AZO MAR 16 2018 675.0/700.0 Bear Call Spread @ 2.40
CTRP
#SyntheticStock – Earnings next week. It’s run up to resistance and to a negative delta on my overall position. Gonna book it as a quickie and maybe re-load with an earnings play next week…
Sold to Close CTRP JAN 18 2019 47/47/45 Synthetic
Bought to Close CTRP MAR 9 2018 48.0 Calls
A couple weeks of weekly selling and nice gain on the core for grand total of 1.18 gain per spread. Not risking a blowout on earnings next week.
BABA
I took off my weekly hedge for a .02 cent profit. Position is now 190 call,190 put, 185 put with no weekly call.
ADSK
#Earnings #ShortStrangles – Well here we go. Let the rolling begin. I had many weekly hedges that were set to expire but with the strong market today nearly all of them will be rolls now. This one is a roll of the call side of a blown out to the upside earnings strangle.
Rolled ADSK MAR 9 2018 130.0 Calls to MAR 29 2018 142.0/138.0 Inverted Strangles @ 1.92 credit.
Position now is Mar 29th 142/138 inverted @ 4.25
SPX
BTC Mar 23 2600 short puts at 2.70, sold prev on 26-Feb for 7.80..
gain 62%
BTC Apr 02 2600 short puts at 5.00, sold prev on 6-mar for 13.00
gain 62%
SPY STC 274/274/272 Feb 12…
SPY STC 274/274/272 Feb 12 was a big loser after recent drop. 188.50 Profit after Comm #Fuzzy
SPX rolls, getting aggressive
#SPXcampaign Stopped: $SPX Apr 6th 2840/2865 call spreads for 3.75. Sold for 1.75 on Monday.
Sold March 12th 2760/2735 put spreads for 4.85. Expire Monday.
Sold March 14th 2775/2750 put spreads for 10.90. Slightly ITM, expire Wednesday.
#Hedges They kill a good…
#fuzzy MCD Yesterday as MCD…
#fuzzy MCD
Yesterday as MCD recovered, rolled March 9, 155 call to April 20, 160 for 1.42. My fuzzy is in September.
SPX calls stopped, calls sold
#SPXcampaign Stopped $SPX March 15th 2750/2775 for 12.30. Sold for 3.50 on March 1st.
Sold to Open SPX April 6th 2870/2895 call spreads for 1.75.
I need to throw on a few rolls. I will be placing them neural to bearish on the market. If today’s trend stays intact, I’m going to be considering it a provisional upside warning.
JPM
#SyntheticStock – STO JPM Mar16’18 119 calls for 0.27
VIX Indicator, unprecedented
#VIXIndicator This is pretty tough to explain, but I’ll try anyway…
We are currently in a Downside Warning, but this particular pattern has only happened once before, at least since 1/1/2000, where my tracking begins. The warning was canceled on 2/23, and then, before an Upside Warning fired, it was reinstated on 2/28. When THAT has happened before, the SPX made a new low in all occurrences but 2. In those 2 times, only one time, in 2006, did the second downside correction have a lower 78.6% line.
This time, we did NOT make a new low, and the 78.6% line is down at 12.61. It was at 17.76 from the first warning, so quite a lot lower now. Provided we close decently today, it would be three closes at or below 17.76, which would be an Upside Warning from the FIRST downside warning. In the 2006 occurrence, this did turn out to be an effective Upside Warning, because SPX took off and did not wait for the official upside warning.
If you’re lost, no worries. Here’s all you need to know: There’s not enough precedent to call it one way or the other, but a close today below 17.76 COULD signal a rally back toward all-time highs.
Good Payroll Morning
Good Payroll Morning
SPX trades yesterday
#SPXcampaign Mostly watched the market bounce, but closed the condor with today’s expiration… thankfully, since the jobs number just drove the market into my call strikes.
Closed $SPX March 9th 2675/2650 put spreads for .20. Sold for 3.55 on Wednesday.
Closed $SPX March 9th 2750/2775 call spreads for 3.60. Sold for 3.80 on March 5th.
Stopped: March 29th 2810/2835 for 2.70. This got up to 3.50 i the morning, but I was able to close it at the lows of the day for ,such cheaper.
February Jobs Report
#jobs Added jobs blow away expectations, but wage growth weak.
+313,000 non-farm payroll jobs, vs 200K expected
Unemployment holds steady at 4.1%
U6 unemployment steady at 8.2%
Wages up only 0.1%, reflecting 2.6% annualized
Labor force participation up to 63%
Options Bistro 