/ES Hedge

#ButterflyHedge – Just for fun…centering it down near last week’s lows expiring this Friday…

Bought to Open BUTTERFLY /ES APR 18 (Wk2) 2560/2550/2540 PUT @ .35

I did it 5 times risking 90 to make 2400

Some reversal, was there a…

Some reversal, was there a stupid tweet I missed or the Syria and trade war rhetoric back in the news?


#SPXcampaign I set up an…

#SPXcampaign I set up an April 13th 2575/2570 BuPS for 1.05 this morning. Filled on the pummeling into the close when SPX was at 2621.25.

MLM July put

Sold $MLM Jul 20 170 put @ 3.10. Will add if premium increases.

SA article: “Leveraged ETFs Decay Dashboard”


Lunch trades, work is cutting…

Lunch trades, work is cutting into my trading 🙂

FAS sold 4 DTE 65 CC for 1.74 against long stock. CB now 59.37, nice accrued rolls on this one.
NSC 18 DTE rolled out another week 128 put to 127 put for 0.3 credit. CB 126.33
FAS cold 4 DTE 65 CC against long stock for 1.77. CB now 61.88.

I was also looking at the triples and inverse funds. FAS has had several reverse splits, ERX as well. However, TQQQ, UPRO, UDOW, and TNA have only had positive splits. Not saying they cannot go low enough to reverse split but I am trying to refine this ITM debit spread idea #supercharger and I think going with names that are unlikely to reverse split would offer some additional cushion on the way down.

Trying to get the benefits of what we had with SVXY without the pain associated with it going close to zero.


SPX puts closed

#SPXcampaign Closed $SPX April 13th 2500/2475 put spreads for .45. Sold last Monday for 3.10.

After being whipsawed about six too many times, I’ve made two significant adjustments to survive this volatile period. I plan to stick with this until VIX is below 17.76.

Last week as we cruised higher, I got stopped on 3 call spreads and did nothing. If I’d sat on them, they would have all been winners. If I’d rolled them higher, they also would have been winners. So…

1. If I get stopped out, I need to roll FORWARD, and not reverse roll and don’t sit on my hands.

2. But before stopping out, consider just sitting on the troubled spreads. This is what I did Friday, as I sold a few put spreads early in the day, only to see them get under heavy pressure into the close. I felt certain, since we bounced off 2585 again, and because market keeps whipsawing, that we’d be up today. Wasn’t the most relaxing weekend, but I got the bounce.

So while I’ve closed one put spread today, I’m not selling calls. I’ll look for higher levels tomorrow and then start selling some calls, then wait for the next deep dive before selling puts.