VXX part 2


Sold $UVXY Apr 20th 26 calls for 1.45
Closed UVXY May 18th 20 call for 4.00. Sold for 2.50 on March 19th. This is my only position ITM. Closed one today and will close the other, and roll them to Sept higher strike.

Bought $VXX May 18th 30 puts for .05. I already had a couple of these; looking like a loss but why not add a handful more to make it a lottery ticket?

SPX calls closed

#SPXcampaign Closed $SPX April 13th 2745/2770 call spreads for .50. Sold in a #CondorRoll for 6.30 on 3/26… the call side was sold for 2.95.

#shortputs CRUS On March 16,…

#shortputs CRUS

On March 16, on a Motley fool recommendation(to buy the stock, not the option), I sold an April 20 40/45 put spread, just threw the 40 dollar, 40 put in for margin purposes, the short put being 1.85. My timing was impeccable as CRUS illogically is now at 38.75. I rolled the short 45 to June for a credit of 1.08, sold the April 40 long put for 2.35, staying naked on the June 45 short put. Of course, if CRUS was a buy at 45….

On the bright side…


Another Downside Warning possible?

#VIXIndicator We exceeded 25% above Thursday’s close which is an additional signal. Secondary signals/warnings like this can sometimes signal a bottom, but it’s impossible to be sure. For those keeping track on this double-header correction:

1/16: First signal of trouble ahead/cancel Upside Warning
1/26: SPX high
1/29: Downside WARNING
1/30: 2nd warning
2/2: 3rd warning
2/5: six warnings in one day (a record)
2/9: SPX low
2/23: downside warning canceled
2/28: New downside WARNING
3/22: 2nd and 3rd warnings
Today: SPX lowest since 2/9


STO May18 16 puts @ 1.20


STO January 2019, 55 puts @4.70

Thanks to Fuzzball for the idea. I think I am going to stop selling puts or doing anything until I feel we have reached a bottom.

Who broke the market today?

#pietrades and rolling with some good premiums.

ANDV rolled 11 DTE 95 put to 25 DTE 93 put for 0.25 credit. Cost basis 90.78 if assigned.

NSC rolled 11 DTE 131 put to 25 DTE 128 put for 0.32 credit. CB 126.63 if assigned.

I will probably #jadelizard these if we get a bounce in next few days and also UTX but want better prices on a rebound.

ERX 21/26 4 DTE under water. Still some time value in the short option so will wait and roll later in the week. I will likely #fuzzy it to the Jan 19 call 20 strike, then just sell weekly options against it. With 41.5 weeks left would only need 0.19 per week to scratch the trade to zero so will probably sell OTM to give it a little room. I can roll the long option out and down for 4.15 right now and gain 41 weeks. 2-3 strikes oTM usually brings in 0.6-1 each week so this could be a good longer term trade.

Actually as I am typing this ERX going to parity, will roll it now.

New trade is a #fuzzy Jan 19 call 20 strike, rolled for 4.25 debit and the short 26 call rolled to next week 25.5 for 0.45. Total CB now 8.22 for 10 contracts. Work it down each week from here.

Trade wars should spike the price of commodities including oil so this should rebound.


BTO May 18 2770/2790 1.55 & 1 for 1.50
A Jeff trade, looking for a big run up. When I can cash out I will close 1 and let 1 run if conditions warrant


VXX gamin’

#VXXGame Sold $UVXY Apr 20th 25 call for 1.47.

BTC $UVXY Apr 20th 14 puts for .11. Sold for 1.05 on Mar 20th.

BTC $VXX Apr 13th 38.5 puts for .04. Sold for 1.10 on Mar 20th.

SPX puts sold

#SPXcampaign Sold $SPX Apr 6th 2475/2450 put spreads for 2.20. This is the spread I took profits on this morning, closing for .55. Now I’m using same strikes again for a new trade.


STO January 2019, 70 puts @6.90 with stock at 131


#BearCallSpreads – Going up and out to Sep for this one…

Sold UVXY SEP 21 2018 30.0/40.0 Bear Call Spreads @ 1.20

#shortcallspreads TSLA Sold April 20…

#shortcallspreads TSLA

Sold April 20 290/300 for 1.18

SPX calls closed

BTC $SPX Apr 19th 2820/2845 call spreads for .25. Sold for 1.95 on Mar 21st.
BTC $SPX Apr 19th 2825/2850 call spreads for .20. Sold for 1.65 on Mar 19th.

Whipsaw carries on

#SPXcampaign $SPX It was nerve-wracking selling calls on Thursday, but this approach is what’s needed with a VIX that can’t get far away from 20.00 in either direction. I closed out my Apr 6th spreads (the calls much too early), and now looking to pick the intraday low to add another put spread.

BTC Apr 6th 2725/2750 call spreads for 1.35. Sold for 3.25 on Thursday.
BTC Apr 6th 2475/2450 put spreads for .55. Sold for 2.80 on March 23rd.

STO May 4th 2400/2375 put spreads for 1.70.

Econ Calendar for week of 4/2/18

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