Jeff 7:30 am on Tuesday, May 22, 2018
Tags: LongLEAPs ( 81 ), StrangleRoll ( 49 ), SyntheticCoveredCalls ( 227 )

TQQQ trades

#LongLEAPs #SyntheticCoveredCalls
Closed $TQQQ June 1st 140 put for .35. Sold in 140/170 #StrangleRoll for 5.00 on May 9th.

fuzzballl 7:50 am on Tuesday, May 22, 2018

Interesting strateegery on these. Do you track the basis from the beginning? Looks like it was originally a 160 strike call sold for 1.60 then closed for 5.00 and rolled to 140/170 for 5.00. Now closing the 140 put for .35 leaves 1.25 of potential profit. Is that your goal then to get out of the 170 call for 1.25 or better to at least break even?

Keep us posted…I may add that to the repair strategy arsenal!
- Jeff 8:03 am on Tuesday, May 22, 2018
  
  I start with selling synthetic covered calls, and then if any short is breached, I often sell a strangle. Then, if either side of that is breached, I’ll do the same again.
  Here’s what I’ve done:
  
  April 20: Bought to Open $TQQQ Jan 2020 150 call for 41.00
  April 24: Sold $TQQQ May 11th 165 call for 1.70.
  May 3: Closed $TQQQ May 11th 165 call for .30.
  May 4: Sold $TQQQ May 18th 160 synthetic covered call for 1.60.
  May 9: Stopped $TQQQ May 18th 160 call for 5.00. #StrangleRoll June 1st 140/170 strangle for 5.00.
  May 14: Stopped $TQQQ June 1st 170 for 6.00. #StrangleRoll June 8th 157.5/177.5 strangle for 6.30.
  Today: Closed 140 put for .35
  
  So now I have June 8th 157.5 put, and June 8th 177.5 call.
  Premium acquired: 2.95 over 4.5 weeks
  
  I need .45 per week to cover cost of the call, so I’m doing alright.
  - fuzzballl 1:01 pm on Tuesday, May 22, 2018
    
    Thanks!
  - fuzzballl 1:18 pm on Tuesday, May 22, 2018
    
    Had to write it all down like I was tracking it in my account. I actually follow what’s going on…LOL!
    
    Nice job!

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