#Shortputs #Shortcalls. Afternoon all. Set up a few orders this morning then headed out to the Deere dealership. Looking to pick up a new Deere as the old one is wearing out after 27 years of use. Should get the new toy in a week or so.
Sold these for May 4th Expiry
XOP 95.5 Calls @.50 against my long stock when XOP was at 34.41
FAS 66 Call @ 1.02 against long stock when FAS was at 65.58
I adjusted the remaining in the last 20 minutes or so of the day.
Sold QQQ 164 Call @ 0.45 against my long 2020 161 call when QQQ was at 161.37
Sold MU 48 Call @ .40 against my June 50 call when MU was at 46.07
Sold FAS 64 Put @ 1.20 when FAS was at 64.12
Sold ERX 35.5 Put @ .80 when ERX was at 35.82
Sold ERX 35 Put @ .70 when ERX was at 35.52.
Missed getting out of the SPX May 18th debit spread. Rats.
#SPXcampaign Closed the iron condor I sold last week for this Friday’s expiry. Pulled in decent profit today rather than giving it the chance to blow me up on either end.
Closed $SPX May 4th 2625/2600 put spreads for 3.95. Sold for 10.00 last Wednesday.
Closed $SPX May 4th 2690/2715 call spreads for 2.00. Sold for 6.40 on Thursday.
Also, right at the closing bell, filled on: SPX June 1st 2490/2465 put spreads for 1.75.
#LongCalls #LEAPS #DisasterPuts – Been throwing around this idea for awhile. Taking a shot as an experiment. Instead of buying expensive put protection I’m buying some cheap ones but at twice the size. If this thing implodes I’ll take profits and buy more LEAP calls. If it doesn’t implode I won’t even notice the cost of these in a few weeks of weekly call sales.
Bought to Open TQQQ JAN 18 2019 32.5 Puts @ .80
Using 2019 since there weren’t any cheap ones in 2020. I’ll look at those if they add lower strikes…
Not much more is going to happen today so I am going to the gym and the tread mill.
#Earnings Selling $SHOP May 4th 115/150 strangles. Trying for 1.90, no fill yet.
#LongCalls #LEAPS – Going back in here….had pretty good luck last time. Earnings on Friday before the open so I’d like to capture as much of that premium as possible. After earnings I’ll decide whether to keep it long term or not. Might make a few bucks on an earnings pop and get out. I like the ticker either way…
Bought to Open BABA JAN 17 2020 180.0 Calls @ 34.50
Max loss 34.50 with 90 weeks to run. Need 38 cents per week to cover. That seems reasonable…
Sold BABA MAY 4 2018 185.0 Calls @ 1.81
I may adjust those a little depending on where the stock is Thursday afternoon.
I am usually not an earnings player, but the premiums in AAPL are too juicy to pass up.
If I had not used a big chunk of margin I would buy 5 of the 165 cc and sell 5 of the 165 puts for Friday, earnings today I believe. Only have enough to sell 1 contract so:
STO the AAPL 160 put at 2.14. 4 DTE but if up after earnings will close early. If not, roll it.
#Fuzzy I am in a few, but as with most strategies, results are mixed. Have a hard time to decide when is the right time to close once you are not profitable. I am clear about the combined risk between premium paid and the spread, so I do know what max exposure is. This is mainly such a long term strategy which makes it so difficult, for example I started with MU on 4/12 with 50/52.5/52.5 exp Jan18’19, paid 7.51. Shortly after MU started to tank, but I have been able to clear already a premium of 1.95 after fees by selling the calls, Delta is still almost 50. I am still considerably down at this time and am certainly not interested to give it all away. So, where would you stop and why?
#Fuzzy – BTC MU May04’18 51 calls for 0.05, sold for 0.51. Waiting to sell calls for next week. Sure could use a market bounce.