#rolling
$LABU BTC 6/1 88.5 call and STO 6/15 89 call at 2.60 added credit.
#shortputs
$NVDA STO 7/20 225/235 BUPS at 2.00 Dr SCience at OMM
#shortputs
Sold Early
$AMZN BTC 6/15 1460/1480 BUPS at 1.00 STO at 8.40 Have one more of these trades at lower credit still open
Bought to close $AZO Jul 20 590 put @ 3.70. Sold for 9.80 on 5/22. This is a margin hog so I’m being aggressive in taking them off when they’re more than 50% profitable. I’m also still short a Dec 500 put from 11.60 that I’ll look to close hopefully pretty soon.
#Earnings before the open tomorrow. I’ve got long LEAPS against 101 strike weeklies. Position makes money up to the expected move then tails off a little after that. Looking for something else to go with it for low risk. Premium isn’t to shabby.
Up 10% on more than double average volume.
All things considered, I handled it as best as I can expect, in that I protected myself by closing some bullish spreads, but didn’t panic close positions, leaving a couple ATM/ITM put spreads in place. Now I’m stuck with some underwater call spreads but won’t panic close them… tough part is we are officially under Downside Warning again, which means we could easily collapse in the coming weeks. Below is a chart showing the warnings on the SPX chart… after the 2nd warning, we still had some wild swings. But since then we’ve been squeezing into a tight range. Anyone’s guess, but this third warning could be a head-fake.
Usually don’t trade Wed. but apparently my wife signed me up to be a chaperone on a school trip tomorrow so taking advantage of the snap back and rolling a bunch of #pietrades
LABU various accounts roll 84 put to next week 85 for credits of 1.35, 1.38, and 1.30.
AMAT rolled the 51 CC to next week for 0.42 credit. This is the one that dropped after earnings. Cost basis now 52.69 and should be able to scratch in in 3-6 more weeks. For those following stick with it, will make some $ on it in a few more rolls.
The second batch rolled 50.5 cc out a week for 0.37 credit. This one is already ITM with a cost basis of 49.56. My plan is to keep rolling as long as I can bring in more than 0.2 per week. Once it drops below will let it assign and then go back to put sales until assigned and do it over and over, true #pietrade style. This one works unlike GM because you can get about 1% per week out of the options. I traget 0.5% or higher every week for the #pietrades.
SOXL 125/130 vertical debit sitting on hands for 2 more weeks. Bought for 4.65 and should close for 5 credit.
GM 37.5 CC closes next Friday. Cost basis 37.72 and I will gladly take the .24 loss just to get out. Rolling to next week only gives 0.09, hardly worth the effort so once this closes it is off the #pietrade list unless the premiums increase dramatically.
All told picked up $1976 cash for next week including commissions so even rolling a few days early does not hurt 🙂
Hope everyone is having a good week, won’t be able to check in until Friday afternoon but at this point sitting on my hands for another week.
ERX Bought to closed my June 01st short call @ 1.20 when ERX hit 39.02. That was a fast recovery.
What a day! I have a boatload of premium sold against synthetic stock that expires this week. My whole world right now is scrolling through extrinsic values to catch the right time for rolls or closures.
TSLA: I’ve got a double-sided position here hedged with both puts and calls, rolled both today from June 1 to June 8 collecting $699 on the roll. June 8 275 put/300 call (that 300 might be tight!!).
SHAK: I did a small CoveredBackRatio on this due to it being at all time highs….high begets higher though. I did a debit roll for .28 to capture an additional 1.50 upside. I’ll usually only debit roll once on these. SHAK has already blown the new strike, so I’m watching extrinsic value for the exit point.
TQQQ (pre split): Ditto on above. .29 debit for 1.67 add’l upside.
AMZN: Trying to get a full position exit on this for around $1450 profit. There’s still about $3.00 of extrinsic in my DITM short calls. No rush, but need to keep an eagle eye on it. Update: filled for $1443 profit in one week. Flat AMZN now but will look for a reset.
A few other things with hedges ITM, but enough extrinsic still to wait a bit: CRM, ADBE, RHT, GRUB, TWTR, NVDA.
#LongCalls #LEAPS – Just a one lot experiment since it’s my first time in this ticker. Reaching negative deltas today so rolling out and up a week. I’ll look to close if it gets to negative deltas a second time. I’d book it for a quick 3 or 4 bucks if possible and wait for another pullback to go a little bigger next time.
Rolled LABU JUN 1 2018 90.0 Call to JUN 8 2018 92.5 Calls @ .15 credit
#LongCalls #LEAPS – It’s days like today where I’m becoming a believer in only selling enough weeklies to rapidly cover the cost of the LEAPS while eliminating upside risk (or most of it). As these weeklies get reset I’m trying to get all my positions setup like this.
Bought to Close FAS JUN 1 2018 67.5 Calls @ .09 (sold for 1.02 full position)
Sold FAS JUN 8 2018 66.0 Calls @ .96 (70 percent)
This position is a 10 lot out to 2020 requiring .42 per week ($420.00). Selling 7 for .96 more than covers that while giving this risk:
#SPXcampaign Sold $SPX June 8th 2750/2775 for 3.25, as a #ReverseRoll
Sold $SPX June 29th 2800/2825 call spreads for 1.80.
#coveredcalls
DBX Covered my long stock with June 8th 31 calls for .40 when the stock was at 30.17
#shortputs
TWTR Sold June 1st 34 Puts for .36 when TWTR was at 34.18. TWTR has a relatively nice level of premium in the weeklies. It has been in a flat to slight up trend. Year ago earnings were in late July so it might make a good income trade.
I solved my confusement over my MU position. Just one of those maroon days I guess.
#SPXcampaign Sold $SPX June 22nd 2610/2585 put spreads for 2.30, with 1.33x-position size. Not much lower on the strikes than the spread this replaces, but it’ll do.
$CPB Jun 15 37 puts out to Jul 20 37 puts for .45 credit
Good Morning
#VXXGame Yesterday, Sold $UVXY July 20th 20 calls for 1.20.
#SPXcampaign These two also got stopped yesterday, orders filling on the end of the day bounce. The May 31st one kinda sucked, since it is much cheaper this morning, but it was too close to expiration to risk a further drop. I am mapping out rolls for everything today… some in calls, some in puts, some in condors.
Stopped: $SPX May 31st 2675/2650 put spreads for 6.50. Sold in a #CondorRoll for 6.70.
Stopped: $SPX Jun 14th 2610/2585 put spreads for 2.90. Sold for 1.65 on May 14th.
Options Bistro 