/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.

#spxcampaign tried my luck again…

tried my luck again buy Apr 09 2635 puts 5.30, close 3.80
I guess today I am the grease that keeps the wheels turning.


#LongCalls – I agree with Whiz and @jsd501 . Facebook isn’t going out of business any time soon and premiums are fantastic. Going with the basic long calls and selling against them. Only 1.50 more out of pocket up front but a 2.70 less max loss vs the synthetic.

Bought to Open FB JAN 18 2019 160.0 Calls @ 18.50

Only going out to Jan 2019 so 41 weeks to cover max loss requires 45 cents per week. This particular trade doesn’t even seem that directional. With the premiums available (Zuck testifying and earnings approaching) a big chunk of this will be recovered in the first 3 weeks. Even at just a dollar a week the trade makes 22.50.


Sold FB APR 13 2018 162.5 Calls @ 1.64

#spxcampaign try again buy Apr…

try again buy Apr 09 2625 put for $6.70, place sell at $9.70

#spxcampaign buy Apr 09 2625…


buy Apr 09 2625 put for $10.50, have sell in at $12.50, got close

SPX puts sold

#SPXcampaign Sold $SPX May 11th 2400/2375 put spreads for 1.75. I’m expecting an up day… hopefully a decent rally but it may be muted. If VIX or put/call ratio start acting up, my theory may change.

Morning. We finished the Escape…

Morning. We finished the Escape room set Saturday and now its time to refocus on the market. I’ not in any hurry.

Good Morning all

Good Morning all

Econ Calendar for week of 4/9/18

Be sure to periodically click Home/REFRESH to keep Bistro features updated.

Blue asterisk refers to “market moving indicator.”
Screen Shot 2018-04-09 at 5.29.53 AM