#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
STO May4th 2425/2525 BUPS at 15.10 credit….
#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.
#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)
#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
If the stock finishes up on the day with the volume, we may have a tradable bottom.
Sold $SWKS Aug 17 70 puts @ 1.25
#FallingKnife
#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
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, down another 70 today sold April 20, 1180/1190/1600/1610 for 2.00
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, 60 put for .74
#SPXcampaign Sold $SPX Apr 27th 2800/s825 call spreads for 1.50. Looks like it filled at the high tick of the day.
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.
#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
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.
#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.
#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.
#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.
I am not doing much these days.
Options Bistro 