With earnings on 5/3 I decided to roll my ITM Apr 20 100 puts out only 1 week, for .85 credit, instead of going into the May expiration and having earnings in the cycle. I figure I’d give it another week to recover a bit and maybe be able to take it off by next Friday. With the credit, basis has been reduced by 2.25 so I would need the stock at 97.75 or higher next Friday to be able to do that.
Rolled $OLED Apr 20 100 puts out to Apr 27 100 puts for .85 credit.
#SyntheticStock – BTC EWW Apr27’18 55 calls for 0.07, sold a couple days ago for 0.31. Gonna wait and sell more calls for next week after I see if EWW bounces off the 200 day sma, which it is hitting.
#BullCallSpreads #LEAPS -Going back into the belly of the beast with something more realistic to the upside. Buying a narrower spread but using two contracts instead of one. Also, a lower debit so easier to get it covered and be risk free. Let’s see if 600ish can hold…(not looking good so far). A bounce back up to the 200ma resistance would be a good point to take profits. Buying the vertical below and selling the weekly at it.
Bought to Open AZO JAN 18 2019 600.0/620.0 Bull Call Spreads @ 9.95
39 weeks to run so needing 26 cents per week to cover. I’m going for way more than that to get the risk off as soon as possible…
Sold to Open AZO MAY 4 2018 625.0/645.0 Bear Call Spreads @ 2.70
#Fuzzy – BTC XBI Apr20’18 92 calls for 0.03, sold for 0.38. STO XBI Apr27’18 92 calls for 0.47.
#BearPutSpreads – I’ve been selling against my Jan 2019 50/30 Bear Put Spreads….trying to gradually cover the debit.
Sold VXX MAY 4 2018 39.0/35.0 Bull Put Spreads @ .71
#BullCallSpreads – Interesting trade and another lesson for me in the power of basis reduction.
Originally Bought Jan 2019 660/760 Bull Call Spread after last quarter earnings. Stock started dropping from almost the exact moment the trade filled. Continued selling weekly Bear Call Spreads against the position. Also, rolled down the LEAP short 760 to 710 for additional credit. Stock is still imploding as I type this but…
Bought to Close AZO APR 20 2018 625.0/650.0 Bear Call Spread @ .00 (sold for 2.25 and legged out for zero cost 🙂 )
Sold to Close AZO JAN 18 2019 660.0/710.0 Bull Call Spread @ 15.43
After reducing my basis of the original position to 9.23 the trade still made 6.20 without ever having a single uptick. Now that’s basis reduction!
CVS, BTC May 18, 50 puts @ .05, sold at .64 cents
DGX, BTC May 18, 85 puts @ .06, sold at 3.20
EXAS, BTC April 20, 45 puts @.10 to avoid possible assignment. Sold at 3.10
EXR, BTC June 15, 65 puts @ .10, sold at 2.15
Assigned early on half of my ERX 8 DTE 20/25 call vertical debit spread. So short half the spread. Easy fix, the 20 long call was so far ITM exercised at intrinsic value so made half the profit a week early. Will let the rest expire next week.
Sitting on my hands the next 2 days, then have a lot expiring tomorrow and will either let assign or roll on Monday depending on what’s left.
FAS CC at 65, 64, 66 are all ATM so will see what happens. Cost basis 61.27, 64.11, 58.17 and 60.63 so all looking good either way.
TNA 69 CC at full profit so will let assign tomorrow.
GM 38.5 CC next week, it is also ATM.
Finally 2 positive weeks in a row, easier with market moving up but I had some trades with a bearish bias as well. Have pulled back 11k on the SVXY losses. Still a long way to go but every bit helps.
Looking at trades for next week, good premiums still out there, WDC, EXPE, SMH, XBI all at top of the list. Some have earnings. SWKS possible #fallingknife looks like finding bottom.
That’s all I have until Monday, have a good expiration and weekend!
After closing ITM puts under margin pressure, I have now rolled them all back into profit range. I still think this is a decent bullish candidate on pullbacks. The call was over 3.00 yesterday so slipping out today in case it rallies back tomorrow.
New highest strikes in some of the months.
Sold $GUSH Jun 15 45 calls @ 1.00.
#Earnings BTC $CP Apr 20th 175 puts for .45. Sold yesterday for 1.10.
#SPXcampaign I love these short-term reverse rolls when a rally starts, but of course they only work with a sustained rally… since January, sustained rallies haven’t been happening. Thus, got whipsawed on this one, albeit without much damage. Stopped out when we started dropping for the third time, and of course, that led to the strongest bounce. Will likely roll into a condor later, depending on how the day shakes out.
Closed $SPX April 20th 2690/2665 put spreads for 5.35. Sold for 4.35 as a #ReverseRoll on Tuesday.
#SyntheticStock – An old “earnings gone bad” repair trade that might actually turn into a nice winner…needs 99 cents per week. Earnings May 3rd so staying aggressive until then.
Bought to Close OLED APR 20 2018 103.0 Calls @ .10 (sold for 1.58)
Sold OLED APR 27 2018 100.0 Calls @ 1.40
#SyntheticStock – Plugging away against a Jan 2020 position…selling next batch in earnings week. Might adjust it a little as the day approaches.
Bought to Close REGN APR 20 2018 337.5 Calls @ .20 (sold for 2.20)
Sold REGN MAY 4 2018 345.0 Calls @ 2.40
The ten year note took a nice pop up in yield this morning. Not good for stocks if we go over 3%.
BTC July 155 put @ .10, sold at 3.30 and a hat tip to Iceman for the idea.