#optionexpiration Afternoon all. Assigned FAS…

#optionexpiration Afternoon all.
Assigned
FAS 65 Puts
SQ 51 Puts
Expired
OIH 27 Puts
Thanks for all the ideas and guidance. Have a great weekend.

Expirations

Besides me ;-),

#optionsexpiration
$FB 150 puts Thank you @ramie77
$SPX 2400/2425 BUPS Thank you @jeffcp66

Pleasant weekend to all.

Signing off

I am going to the gym early. Fridays tend to be quiet after lunch time on the east coast so not much to do.

My FAS 67 calls will expire and I will wait until Monday to sell them again on the fuzzy trade.

My TQQQ 160 calls will also expire and I pre sold the May 4, 155 calls this morning at 2.10 and if they expire will have reduced my cost by 11% in 3 weeks. I will be much happier when it is 100% and have a year to go before expiration.

Have a nice weekend to everyone.

Rolling OLED

Well my idea for a 1 week roll pre-earnings on this didn’t work. Stock was 94.45 when I did that last Friday. I’m short the 100 puts. Thought that if there was a bit of a rally in the stock I could get out near my basis of 97.75. Didn’t happen. So I’m rolling to May, past next week’s earnings announcement.
Rolled $OLED Apr 27 100 puts out to May 100 puts for 2.46 credit. Basis reduction so far is 4.71 so I’m looking for around 95 or so by expiration. Of course if earnings disappoint this has the potential to be another long term roll project.

FB roll

#Earnings #CoveredCallCampaign #StrangleRoll #ShortStrangles
Closed $FB Apr 27th 170 call for 2.95. Sold for 1.00 on Wednesday.
Sold FB May 18th 165/180 strangle for 2.92.

Back To Risky Business

$TSLA STO 4/27 300/290 BECS at 2.10

Another Early Close

$FB BTC 5/11 190/180 BECS at 1.00 STO at 1.38

#fallingknife X is down 12%

#fallingknife
X is down 12%

#jadelizard #ironcondor FB A little…

#jadelizard #ironcondor FB

A little more enticing than long term short puts on cable companies, followed Fauzia at Tastytrade , June 15, 170/175/175/195 for 7.35

AMZN

May 18 trade, 3 weeks to expiration.

STO 1360/1310 Bull put spread @ 1.20

STO 1800/1850 Bear call spread @ .77

MDT

BTC June 65 put @ .10 Sold @ 1.15 as a falling knife. Taking it off almost 2 months early with no brokerage.

Expiration and learning/growth opportunities

Sometimes it takes blowing out an account (or 2 on SVXY) to really make you focus. I have always learned more with a 2 x 4 to the back of the head than with a gentle nudge. So I went back to the drawing board, looked at all my trades that worked, what didn’t, and some alternative ways to trade and it has allowed me to concentrate on what works since Feb. 6, 2018. You would have thought I would have kept something in my head from Aug. 24, 2015 but apparently not.

So here is what I have going forward in order of how I am trading in the future.

#pietrades. This is my bread and butter, pays the bills, making some of the losses back, easy to roll and adjust and works week in and week out no matter what the market does. Occasionally get stuck with one for a while, currently GM but can usually roll them to even.

#supercharger. Works better than credit spreads for really small accounts. I have learned how to adjust from @jeffcp66 and from the options for edge book, but because of my schedule I can’t always make the adjustment in time before they go ITM or breach the short strike. By then you are already controlling losses not making money. They expire for full profit most of the time because you set then up deep ITM, if assigned on the short strike easy to exercise your long, and very easy to convert to a #fuzzy or calendar leap if they explode. Then fairly easy to work back to even or profit.

#spycraft will be rolling some of these out on the mid size accounts again but found that the ones that were farther out in time were easier to manage. So these will be 21-45 DTE in the future, mostly using spy but some qqq, iwm and maybe even dia. 3-5 points between strikes so I can manage by buying in between the strikes when needed and will not let them go to expiration, will close at 50% profit or any profit that is decent.

CC straddles or strangles if have just taken assignment on a short put and at a support area.

CC return more on a cash basis than puts so with my #pietrades will be selling puts a lot closer to the money with the hopes of getting assigned so I can immediately flip to CC.

#fuzzies are a great way to convert losing trades into break even or winners.

The higher the premiums the easier it is to roll. So I am looking at the history of how often the move is exceeding the expected move. GM is a good example, expected move exceeded almost weekly but the premiums were crap so I have been rolling it for 15 weeks now. The higher premium names even when exceeded were usually back to break even in 2 weeks. Less work + more money = more free and fun time!

Never being short unhedged volatility again!!!

Sticking with those tactics and keeping it simple and profitable until the market changes and these no longer work and have to adjust again, but I think these are tactics that can work in any market condition.

With that said, bunch of rolls today and was assigned early on a few.

ERX #supercharger 20/25 assigned for full profit. Put on 21 days ago for 4.55 debit closed at 5 credit

EXPE 104 put expiring worthless :). That account will open #spycraft on Monday.

Smallest account AAPL 145/150 ITM call debit spread. 3 contracts max gain $207 for $1293 at risk. That is a 16% ROI if AAPL anywhere above 150 or 206% annualized. I will be doing a A LOT more of these going forward on the smaller accounts now that I have seen how they work for 8 weeks and even adjusted 2 to #fuzzies.

FAS 65 CC in 3 different accounts. Rolled for 1.14, 1.1, 1.15 credits and cost basis now 57.92, 55.74, 61.33 with FAS at 64.03.

Hope everyone has a good expiration and great weekend!

JPM SLB

#SyntheticStock

STO JPM May04’18 112 calls for 0.41

STO SLB May04’18 71 calls for 0.31

 

SPX sales

#SPXcampaign
Sold $SPX May 25th 2500/2475 put spreads for 1.60
Sold $SPX May 25th 2785/2810 call spreads for 1.50

#shortputs T Not as exciting…

#shortputs T
Not as exciting as the FAANGs, added a June 15, 34 put for 1.27 to go with a July, 33 put and 101.299 shares.

FB

BTC May 18, 135 puts @ .05, sold at 1.16

TQQQ

Taking a chance.

STO May 4, 155 calls at 2.10, I have the 160 calls that expire today which were sold at 2.90 which will reduce my cost of the 150 calls in 2020 down to 37.43.

Also, rolled my may 4 Fuzzy on the TQQQ from the 170 calls down to the 155 calls for a credit of 1.85 which will reduce my cost basis so far by 13.4%

SPX NFLX AMZN MSFT Closed Early / Rolled SQ Puts

Closed Early
#spxcampaign
$SPX BTC 5/4 2600/2625 BUPS at 3.00 stop. STO 4/25 at 8.50 Thank you @jeffcp66
#shortcalls
$NFLX BTC 5/18 360/350 BECS at .60 STO at 2.12
$MSFT BTC 5/18 105/100 BECS at .40 STO at .98
$AMZN BTC 4/27 1555/1525 portion of the butterfly for 28.41. Saved a 1.50 but maybe should have waited. Put part will expire – I think

Reducing exposure. Getting a day older and an hour wiser thanks to all of you.

#rolling
#shortputs
$SQ BTC 4/27 put and STO 5/4 50 put at 1.00 added credit

SQ put

#CoveredCalls #CoveredCallCampaign
Closed $SQ Apr 27th 46 put for .05. Sold for 1.20 on 4/16 as a #ReverseRoll from a breached covered call. Now waiting for earnings next Wednesday.

AMZN call spreads

Losing a bit of momentum so selling call spreads–splitting the risk up into 2 positions:
$AMZN May 18 1700/1720 BeCS for 3.70 credit
$AMZN May 18 1650/1670 BeCS for 6.90 credit

AMZN, scraping for pennies

#Earnings Closed the 25-pt #IronButterfly for 24.70, saving myself 30 bucks from allowing it to be exercised. Working on something for the 30-pointers…. dare I try to leg out on this pullback?