LABU Rolling Again / AMZN Sold Early / NVDA Short Puts

$LABU BTC 6/1 88.5 call and STO 6/15 89 call at 2.60 added credit.

$NVDA STO 7/20 225/235 BUPS at 2.00 Dr SCience at OMM

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

Taking off a position in AZO

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.

DG Earnings

#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.

AAOI nice pop

Up 10% on more than double average volume.

Classic whipsaw

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.

Screen Shot 2018-05-30 at 11.11.55 AM

#SPXcampaign #VIXIndicator

hump day

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…

ERX Bought to closed my June 01st short call @ 1.20 when ERX hit 39.02. That was a fast recovery.