#longcalls
$COST BTO 6/15 193 calls at 8.60
#spxcampaign
$SPX STO 5/25 2775/2750 BECS at 4.80 Thank you @jeffcp66
$SPX STO 6/15 2565/2590 BUPS at 1.65 Thank you @jeffcp66
Daily Archives: Thursday, May 17, 2018
Music of the Week
Jeff, is this a new feature? Love it!!
Shoot it disappeared, it was in the right-side column.
Let me add a couple trades on here so this post has some bit of use:
CRM: rolled calls from May 18 to May 25. $131 stock assignment now has a cost basis of $127.20 #PieTrades
BA: Rolled puts on a put diagonal from May 18 to May 25, Cost Basis on a long put diagonal has moved up from 324.20 to 331.45 due to income collection. 64 days left on the trade for income collection.
GRUB: Took 70% profit on short puts for tomorrow and flipped the trade to a Jan 2020 Leap (100/100/90) with Jun 1 short calls. Leap core @ 21.60, Jun 1 106 calls @ 1.80.
In play for tomorrow:
AMZN Naked Put @ 1600, cost basis is 1578
NFLX Covered Call ITM, cost basis is 322.85 on a $330 assignment #PieTrades
NVDA ITM Naked Puts @ 257.5, cost basis is 250.69 #PieTrades
NTNX ITM Covered Call, not sure cost basis
LMT Jade Lizard is still in the sweet spot for nice profit
GUSH…living up to its name
Sold $GUSH Dec 21 57 call @ 6.00
Adding to position at the highest strike
SPX puts sold
#SPXcampaign Sold $SPX June 14th 2590/2565 put spreads for 1.65.
#shortputspread #bitty ANET Bought May…
#shortputspread #bitty ANET
Bought May 18, 230/240 for .30, sold May 10 for .95
Trade jitters again
BREAKING: President Trump says he doubts that trade talks with China will be successful https://t.co/vccLO1oIe9
— CNBC Now (@CNBCnow) May 17, 2018
DE earnings
#Earnings Fairly bullish history on earnings, with small drops and big gains.
Sold $DE May 18th 140/135 put spreads for .85. Biggest UP move: 13.5%, Biggest DOWN move: -8.1%, Average move: 5.9%. This trade is -6.3% OTM.
Kicking A
#Earnings Starting to peel off $A 65 puts at a small loss… big rally today but don’t want to leave full position on overnight with risk of early assignment or a big drop tomorrow. Won’t work for #PieTrades or #CoveredCallCampaign since there are no weeklys and weak premium.
Closed $A May 18th 65 put for 1.23; 65/75 strangles sold for .77 on Monday.
NFLX
BTO May 25 310/312.50 Call spread #DIM
Deep in the Money call spread.
LRCX, CVS, OLED
LRCX, BTC June 15, 130 puts @.05
CVS, BTC May 18, 60 puts @.01
OLED, BTC June 15, 75 puts @.10
EWW
#SyntheticStock – BTC EWW May18’18 48.5 calls for 0.03, sold for 0.31. STO EWW May25’18 47.5 calls for 0.31.
#shortcallspreads TSLA Can’t stay away,…
#shortcallspreads TSLA
Can’t stay away, June 15, 320/330 for 1.21. As crazy as TSLA can swing, I’ve found options easy to roll.
Liz and Jny #BackRatios I…
Liz and Jny #BackRatios
I highly recommend watching this video from yesterday’s TastyTrade show. I have been missing a lot of TT in the last few months, but by total accident I caught this segment yesterday. This isn’t your normal backratio. They have found a design that mimics stock 1:1 for a fraction of the expense/risk. It works for both long and short setups. I have immersed myself in this design for the last 24 hours using all different kinds of ratios to get close to a 1:1 delta. Put this in the bucket of long call diagonals and fuzzies for stock replacement, but still with income potential.
The key to their design is you sell 1 ATM call or put, then look to buy 2 ITM where the intrinsic will cover the credit received on the sell. If you do a 1×2 you are free to sell “1” in a front month for income, and be risk defined. Use your risk graph to massage the ratio until you get the delta you seek. 3×5, 6×8, 3×4, you get it.
Here is an example from me this morning: I had on 2 naked puts for MA for tomorrow expiration, risk was over $38,000 on 200 shares of stock. I wanted to redesign a trade with $5,000 at risk. I closed those puts for 60% profit this morning and opened an October 8×6 back ratio. I sold 6 190 calls and bought 8 185 calls, the resulting delta is a little less that owning 200 shares of stock. In addition I sold 2 (8-6=2 for risk defined income) May 25 195 calls for .76. My total risk in this trade is $4821 and it will move almost 1:1 with stock.
Sue
https://www.tastytrade.com/tt/shows/calling-all-millionaires/episodes/calling-all-millionaires-05-16-2018
Done sitting on my hands,…
Done sitting on my hands, theta did it’s thing.
#pietrades
MAR 139 put expires tomorrow rolled out to next week for 0.81 credit. Cb now 137.08 if assigned.
GM CC expires in 3 weeks 37.5 cb 37.72 but if ITM good bye finally. That will be 22 weeks in the trade to almost scratch it. The money will be put to better use somewhere else!
BTC MU 52.5 put for 0.04 sold for 0.63
STO LABU 85 put at 1.45. cb 83.55 if assigned 8 DTE
STO LABU 85 put at 1.2. Cb 83.8 if assigned 8 DTE
AMAT 55 put should be assigned tomorrow at 54.02 cost basis. Will flip to CC on Monday.
BTC AAL 42 put at 0.04 sold for 0.53
AMAT 52.5 put should expire tomorrow, cost basis 50.80 even if assigned. Reload monday.
#spycraft 22 DTE PCS at 265/262 was sold for 0.24. Just waiting another 1-2 weeks for some decay to erode it then will roll it.
Will only have 2 trades for Monday, then sit on my hands again until Thurs or Fri depending on what the market gives us.
Raining here but still going out to bike, have a good expiration!
ERX #Shortcalls Closed my May…
ERX #Shortcalls Closed my May 18th 42 C for .65 as soon as the price breached 42. Originally sold for .45.
Options Bistro 