#spxcampaign
$SPX STO 6/1 2465/2490 BUPS at 1.85
$SPX STO 5/18 2750/2725 BECS at 2.70 Thank you @jeffcp66
Daily Archives: Tuesday, May 1, 2018
Lottery ticket
I am not doing this but popped up on scan SRPT, biotech has earnings on 5/3 and premiums are huge. I am not playing it but looks interesting as a 1 lot.
No one will believe me…
No one will believe me because I did not post and everyone here knows my track record on directional plays, but at 1300 today I saw momentum changing (on my tools, I did not actually see it) and I distinctly counted 5 elliott waves on the way down. Maybe there is some ope for me trading directionally 🙂
AYI Adding Nov
Already short Aug 100 and 90 puts. Extending the ladder to Nov.
Sold $AYI Nov 16 80 puts @ 1.60 with the stock at 113.67.
AAPL strangles
#Earnings #CoveredCallCampaign
Sold $AAPL May 4th 160/180 #ShortStrangles for 1.27. I am also long the stock, so short calls are covered. Leaning slightly bullish on strike selection.
EWW, JPM, SLB
#SyntheticStock – been closing down some calls today in the hopes that the Fed announcement tomorrow will cheer the market and my stocks will blast off to the moon. Yeah right?
BTC EWW May04’18 52 calls for 0.04, sold for 0.37
BTC JPM May04’18 112 calls for 0.08, sold for 0.41
BTC SLB May04’18 71 calls for 0.04, sold for 0.31
NOC put spread
8$NOC dipped below the 200 dma and has bounced back above it. Selling some premium in this name in June.
Sold $NOC Jun 15 280/270 BuPS for 1.25.
TNA,XBI and DIS
BTC DIS 4 May 103 call at 0.03 STO 0.30 waiting to sell next weeks with earnings on 5/8.
Rolled TNA 4 May 72 call to 11 May 70 call for 0.82 credit.
Yesterday BTC XBI 4 May 93 call at 0.04 STO 1.10. looking for a bounce to sell again.
#syntheticstock #leaps.
SPX
BTC May 16, 2900 calls @.05 which was part of a 2900/3000 bear call spread. The spread was sold at .45 and I will let the 3000 calls just expire.
TNA
#LongCalls #LEAPS – In an #IRA so have to close before I can sell the following week. Paying a couple extra pennies to get next week going sooner.
Bought to Close TNA MAY 4 2018 72.0 Calls @ .08 (sold for 1.23)
Sold TNA MAY 11 2018 69.5 Calls @ 1.05
Taking risk off here by…
Taking risk off here by closing my May 4th short PUTs
#shortputs
FAS Closed my FAS 64 short Put @ 2.31. Sold yesterday @ 1.20.
ERX Closed my ERX 35.5 Put @ 1.75. Closed my 35 Put @ 1.37.
FAS #PIETrade Bought to close…
FAS #PIETrade Bought to close May 4th 66 Covered Call @ .15. Sold yesterday @ 1.02.
SPX trades
#SPXcampaign Closed $SPX May 11th 2500/2475 put spreads for .95. Sold for 1.85 on Apr 13th.
#ReverseRoll PLUS: Sold May 18th 2700/2725 call spreads for 3.80.
Closed the put spread earlier than usual and sold the call spread to balance out the SPX campaign portfolio…. I am heavier on short puts but prefer to be more balanced in such a range bound market.
BA put spread
Looking for $BA to stay in its trading range with 310 at the bottom. Stock is in its second big down day (almost 5% since Friday) but it looks like the big volume is starting to wane. I’m admittedly early but there’s enough room here, with the stock at 328.63, that I feel comfortable with it.
Sold $BA May 18 310/300 BuPS for 1.34.
ETF’s in play @ TT
https://s3.amazonaws.com/cherry-picks-s3-bucket-newsletter/live/18_05_01_tastytrade_Research.pdf?mc_cid=b1c14c6f61&mc_eid=c66a1885a5
Thoughts on leveraged tickers.
Benefits:
The premiums are huge, easier to roll than some of my #pietrade names
Because it is an ETF like @jsd501 mentioned one company going bankrupt or merging is not going to destroy the ETF it will still be there.
Most are fairly liquid.
Can take a directional bet if you are into that kind of trading 🙂
Can use them to move into and out of sectors
Risks:
Leverage cuts both ways
Looking at how most are structured do not think we will have an XIV/SVXY occurrence but several have had reverse splits. Need to pay attention to potential reverse splits.
A rapid move may take some time to recover.
Some move a lot more than others, TQQQ for example moves more than TNA.
Margin requirements are stricter. TOS requires full cash value when calculating margin. Don’t know if it is different for portfolio margin.
So far the moves have been more manageable with these than some of my #pietrades. I would not load the boat on them, but see this as a viable option to single tickers to get better premiums and easy rolling.
Thoughts, others seeing something with risk that I may have missed? Anyone found any others I have missed?
Currently using ERX, FAS, TNA, TQQQ, UPRO, UDOW, LABU (many reverse splits), BIB (no weeklies 😦 ), UYG same, UCO, UBIO no weekly, SOXL no weekly.
Anybody found others wiht decent option volume?
TLT
#PerpetualRollingStrangles – This week’s 120s look safe so going out a couple weeks for the next sale…
Sold TLT MAY 18 2018 119.5 Calls @ .52
SPY,SPX
We are 20 points away from the 200 day MA and could go below it on any bad news. The RSI and Stochastics don’t look good. I have positions and they are Fuzzy trades as well as short puts on various stocks. I am also 50% in cash and don’t trust this market. I hope I am wrong but I feel more comfortable being in cash.
#pietrade Rolled GM 14 DTE…
Rolled GM 14 DTE 38.5 CC down to 38 24 DTE for 0.23 credit. Cost basis now 37.81 after 15-16 weeks of rolling. Like an old car this trade just won’t die. I am just targeting a break even on this so I can use the capital somewhere else but I suspect will still be rolling this in the summer.
Take GM off the #pietrade list for a while, moves more than the premiums allow you to adjust.
#shortputs #rolling #earningstraderepair SKX Rolled…
#shortputs #rolling #earningstraderepair SKX
Rolled May 18, 37 put to October for .20. SKX is at 29. I’m a little concerned about assignment, stock is at 29 and now I don’t have to worry about it for awhile-maybe. This was an earnings strangle-hey, the short call worked out.
XOP Bought to close my…
XOP #coveredcalls, #pietrades Bought to close my May 4th 39.5 Call @ .25 . Sold yesterday for .50.
TQQQ
#LongCalls #LEAPS – Added one to my existing position…
Bought TQQQ JAN 17 2020 150.0 Call @ 38.00
Sold TQQQ MAY 4 2018 147.0 Call @ 1.70
SPX #SPXCampaign Closed my May…
SPX #SPXCampaign Closed my May 18th 2770/2790 foray into a debit spread for .30. Originally bought for .75.
TPR post-earnings
Sold $TPR Nov 16 40 puts @ 1.55
WYNN
#ShortStrangles – Rolling the put side up to the 50ma…
Rolled WYNN MAY 18 2018 172.5 Puts to MAY 18 2018 180.0 Puts @ 1.12 credit
Position is now May 18th 180.0/197.5 Strangles @ 4.76
SHOP closed
#Earnings Closed $SHOP May 4th 115/150 strangles for 1.10. Sold yesterday for 1.75. I wasn’t liking the weakness and don’t want to tie up the margin if the puts go ITM.
Options Bistro 