#optionsexpiration Did not have time…


Did not have time to post yesterday (it was windy and warm and I had the day off so kiteboard season officially started Thurs).

XBI BTC 81 puts for 0.3 sold for 1.02 last week.

UTX BTc the 21 DTE 122/131 strangle for 2.49. Sold for many rolls for 2.5 so basically a scratch, wanted to free up the capital to use somewhere else. This was just wasting time and had already rolled 3 times and earnings coming up so just wanted out.

NSC btc 14 DTE 127/141 strangle for 2.8. Sold for 3.63 so same situation as UTX, just wanted the money to use somewhere else.

ERX #fuzzy ran away to the upside so closed for a slight profit. I lost track of the math since I had rolled it but bottom line is I gained back a little more than I put in. Closed for 6.6 and I think I had 6.22 in the trade.

FAS this week 64 cc rolled to next week for 1.25 cb 60.63
FAS this week 65 cc rolled next week for 1.2 credit. cb 58.17
FAS this week 67 cc rolled to next week 65 cc for 1.02 cb 64.11

LNG cc assigned at 54 cost basis 53.27.

Opened TNA ATM cc for next week at 69 for 67.55.

A few observations with all the whipsawing in the market. The leveraged products are easier to roll because of the higher premiums. Even though most of the FAS trades were underwater in 2 weeks that are all back to break even or profitable.

The deep ITM vertical debit spreads #supercharger work very well and easy to convert to #fuzzy if they need adjusting.

#pietrades are still my bread and butter but as @fuzzballl pointed out below, I am also moving towards more ETFs than single names. But they have to be on higher volatility names or the premiums are not there. XBI, FAS, ERX, TNA, TQQQ, UPRO, SMH, UDOW, QQQ, SPY, DIA are all trading well at the moment and I will be focusing on the names that work more consistently and actually require less work. My GM trade has taken 8-9 weeks to break even. ERX was down way more and only took 2 weeks of rolls to break even.

Going with the KISS principle going forward. Finally made back 6k of the SVXY losses in those accounts but still a long long way to go 😦

Spring here as well, 60 mile bike with friends this morning now going out to mow the lawn. Hope everyone gets to enjoy the weekend. Have a few trades lined up for Monday but depends on how we ope with Syria news.