Just stumbled across this…LABD is the bearish version. Weeklies available and a reverse split already in the books. Could be one to watch for a short entry on the next biotech selloff. Maybe buy some 2020 puts and sell weekly against them. Not a ton of liquidity but spreads aren’t terrible.
FWIW…
Have a great long WE
#optionsexpiration
$GS 242.50 call
$FB 187.50 call
The best to all at the bistro and especially to all those
who serve or have served our country.
God Bless America
#SPXcampaign Sold $SPX June 22nd 2795/2820 call spreads for 1.70. No upside warning so I’m still selling both sides of this market.
#spxcampaign
Closed Early
$SPX BTC 6/8 2800/2775 BECS at 50% of max profit.
$SPX BTC 6/15 2835/2810 BECS at 70% of max profit. Thank you @jeffcp66
#spxcampaign
$SPX STO 6/22 2595/2620 BUPS at 1.95
$SPX STO 6/15 2675/2700 BUPS at 5.70 Thank you @jeffcp66
#LongCalls #LEAPS – Last one…squeezing in one more sale before earnings.
Bought to Close AMBA MAY 25 2018 50.5 Calls @ .08 (sold for .80)
Sold AMBA JUN 1 2018 51.5 Calls @ .91
BTO January 2020, 55 calls @ 15.22 and sold June 29, 60 calls @ .87 for a net debit of 14.35 and .18 cents per week to cover the trade.
#ShortPuts #IRA – Thanks @Iceman !
Sold JNJ NOV 16 2018 115.0 Put @ 3.05
#LongCalls #LEAPS – The NOC replacement at twice the size…BTW this is Whiz’s favorite and he’s always right! 🙂 🙂
Bought RTN JAN 17 2020 220.0 Calls @ 22.50
Sold RTN JUN 8 2018 217.5 Calls @ 1.25
Payoff by Jan 2019 and Jan 2020 is .66/.25
#LongCalls #LEAPS – Now that RTN has finally joined the weekly world I’m moving over there. It’s a little cheaper so I can do more contracts too. NOC needed a little pullback to get back to the top of the risk profile (max profit) and it got it today.
Sold NOC JAN 17 2020 330.0 Calls
Bought NOC MAY 25 2018 327.5 Calls
All said and done 17 day position booked 3.08 per contract (just a 2 lot here)
#VIXIndicator Looking less likely we’ll get an Upside Warning today, but in any case here’s an updated version of the chart I posted months ago. The blue bars with numbers on top represent the percentage move UP from the close of an Upside Warning day to the eventual SPX high before another pullback. The numbers at the bottom of each bar are the percentage move DOWN from the preceding correction, and the date of the Upside Warning. Please ask any questions you have! (you can click on the chart to see it full screen)
I can wait until the end of day and post these together all at once and avoid some clutter or I can post them individually in closer to real time. Am I posting too much? Fridays can be busy sometimes…just don’t want to irritate anyone. I like to add the details since it might help someone out there. Let me have it…I’ve got thick skin! 🙂 🙂
#LongCalls #LEAPS – Here’s the 2020 reset…
Bought TQQQ JAN 17 2020 55.0 Calls @ 14.60
Sold TQQQ JUN 1 2018 56.5 Calls @ .80 (sold 8 of 10)
Payoff by Jan 2019 and Jan 2020 is .42/.16 (assuming full sales)
#LongCalls #LEAPS – Still selling less than max to control upside risk but still enough to cover cost by end of year…
Bought to Close EWZ JUN 1 2018 40.5 Calls @ .03 (sold for .40)
sold EWZ JUN 1 2018 38.0 Calls @ .32
#LongCalls #LEAPS – Was a little irritated at this one but the rally helped. Needed 657.75 to get even but didn’t quite make it. Short put was exercised a couple days ago. Sold the stock today for 633.95 with a basis of 657.75. Taking the 23.80 loss and rolling it into a Jan 2020 LEAP position. Only rolling one for one since these are pricey. I might consider adding another one on a big drop.
Once I calculated the final numbers it definitely looks doable and possibly even very profitable…
Bought AZO JAN 17 2020 640.0 Call @ 99.50 (basis 123.30 now)
Sold AZO JUN 1 2018 642.5 Call @ 4.10
Payoff by Jan 2019 and Jan 2020 is 3.61/1.40
#shortputs #shortcalls SPY
tastyTrade video compain short puts and calls to long puts and calls over the last several years.
https://www.tastytrade.com/tt/shows/market-measures/episodes/directional-trading-with-naked-options-05-25-2018
#ShortStrangles #LongCalls #LEAPS – A timely pullback today in this thing. Two different trades going and both sets of short calls were DITM. Selloff allowed for much better rolls to get all the positions back in the game.
===================================================
Position 1:
Selling weekly calls against longer term short puts that (used to be) deep in the money. Good chance to roll the weekly calls now.
Rolled ADSK MAY 25 2018 131.0 Calls to JUN 8 2018 133.0 Calls @ .25 credit
===================================================
Position 2:
Long LEAPS against short calls where short calls had gotten absolutely demolished. Using the weakness today to roll up the LEAPS and taking the credit to make a huge roll up of the weeklies.
Rolled ADSK JAN 18 2019 120.0 Calls to JAN 18 2019 130.0 Calls @ 5.90 credit
Rolled ADSK MAY 25 2018 122.0 Calls to JUN 15 2018 130.0 Calls @ 5.66 debit
===================================================
Assuming no more crazy rallies in this thing the weekly calls are now back in play for further selling….
#LongCalls #LEAPS – Rolling out and up. Earnings next week so the premium helps on the roll…
Rolled DG MAY 25 2018 96.0 Calls to JUN 1 2018 101.0 Calls @ .02 debit
@LongCalls #LEAPS – This was a short put repair trade I put on two weeks ago. Rolled those losses into the basis of this trade. Had to roll the short calls twice and they’ve reached zero deltas for a second time already so booking it.
Sold ROKU JAN 17 2020 35.0 Calls
Bought ROKU JUN 1 2018 37.0 Calls
All said and done made back the put losses and another 1.11 per contract on top of that. A nice 10 lot and recovery. Love this ticker….in and out quite a few times this year already. Waiting on the next pullback now.
BTO Jun 29 103/101 Put BePS .93 #Bitty
AMZN 1545/1542.50 & 1550.00/1547.5 =85.00
NFLX 315.00/312.50 17.50
From a loss to a profit. Had 74/72 Put spread for today was way under water so yester day saw it turn over added a 77/74 Put spread any way was down 88.50 now closed for a 52.00 profit. Was a DK trade that I followed.
Learned how from you guys & gals.
NFLX: The market makers got $.05 on the close. A couple week’s worth of #PieTrades brought in over $1500. Reset with #CoveredBackRatio “Cobras”. Dec 305c x 3/Dec 350 c x-2 ($125.15) Plus June 1 357.5 call @4.01. For 100 delta/100 shares of stock replacement.
Stock cost basis is $342.65. Net risk right now $12K.
TQQQ: Added another tranche Sep 50c x 6/Sep 56call -4 for 200 share stock replacement, Jun 8 58 call @.60. Stock Cost Basis: $55.30, Net risk: $3400
CVX: Rolled down calls from June 1 130 to June 8 127, added an additional #BeCS. Pocketed $174 on the roll, but struggling to keep up with underlying decline. New basis = $125.11
IBM and CRM are still left to manage: IBM I will allow May 25 to expire and open June 1 $144 call closer to the close. CRM has earnings next week. I was hoping the stock would be called, but I will roll to ITM calls for next week.
BABA: Added another tranche. Oct 175c +4, Oct 195 call -2, Jun1 202.5 call -2
Everyone have a SAFE weekend!!! Don’t get too sunburned! Military folks THANK YOU A MILLION TIMES for your service. I heart you!
#LongCalls #LEAPS – Been in this awhile. Got caught in the December whipsaw but finally back where it started. Getting even and getting out is the goal here. Not a fan of GLD with weak premiums. On the bright side it’s out to 2020 so a lot of time…
Bought to Close GLD MAY 25 2018 124.0 Calls @ .05 (sold for .78)
Sold GLD JUN 8 2018 124.5 Calls @ .51 (70 percent size)
#LongCalls #LEAPS – After the split I’m booking my current position and resetting with the new strikes and using more even numbers and sizes. This was nicely profitable so a good time to adjust on the tiny dip right at the open…
Sold to Close TQQQ JAN 17 2020 50.0 Calls (150.0 pre-split)
Bought to Close TQQQ JUN 15 2018 52.0 Calls (156 pre-split)
Pounded down the basis really early in this one including originally buying the call spreads and then closing the short on the big drop.
All said and done a 7.07 gain on the pre-split number. Only a 4 lot but good enough!
SLB #FallingKnife ?
Interesting look at the VIX chart… I think today’s close will be telling.
Fascinating. Tags on both sides this week. $VIX pic.twitter.com/XpfPoGHlhh
— Sven Henrich (@NorthmanTrader) May 25, 2018
#SPXcampaign Added another batch of long $SPX June 15th 2825/2850 call spreads for .40. I now have a triple-sized position at avg price of .743
It’s a long shot, but no so outlandish as to be called a lottery ticket. I think we’ll get an Upside Warning today which gives us a good shot at a new all-time high on SPX. $RUT is already doing that, and $VIX is telling us these intraday swoons aren’t causing any panic.
#ContangoETFs $GUSH topped out early this week at 47, which triggered my rolling of several ATM positions… then it did what a ContangoETF is supposed to do… dropped dramatically. Bummer that its highs had to be right around my strikes, forcing the rolls. I rolled one into a strangle that may soon have its 31 puts breached. I waited on another, which was a mistake as it is now too low to roll into a higher call. Such is the folly with these ones destined toward zero.
Good Morning
#shortputs
$AMZN STO 7/20 1600/1620 BUPS at 9.75
#longcalls
$SPX BTO 6/16 2800/2825 BUCS at 1.00 Thank you @jeffcp66
#LongCalls #LEAPS – Late fill…
Bought to Close NVDA MAY 25 2018 255.0 Calls @ .10 (sold for 2.59)
Sold NVDA JUN 8 2018 255.0 Calls @ 2.90
BA: This is a put diagonal that I have, I rolled puts from May 25 to June 1 and added an extra short put, collected $161 for the roll
BA in a diff account: Added a #CoveredBackRatio. @MamaCash has now dubbed these “Cobras” (from CBR). Nov 320/355 8×4, June 1 360 call @2.76, Stock cost basis is $352.83.
NTNX and VEEV: Closed both of these positions in advance of earnings, netting about $482 exclusive of previous rolls
IWM: Rolled calls from Jun 1 to Jun 8, the Jun 1’s didn’t have any juice left. Netted $150 on the roll
The only thing left for tomorrow is NFLX (share call), CRM (pennies away from share call, ER next week), IBM (roll)
Of the $11,613 in sold-premium that I started with for the week, it looks like $8,587 will be my realized amount.
#VIXIndicator Another somewhat volatile day capped with a plunging VIX. That’s two consecutive days below the Fib 78.6% line… if it happens again tomorrow we shall be entering next week with an Upside Warning.
Adding to my put ladder
Sold $WHR Dec 21 110 puts @ 1.40
#SPXcampaign
Closed $SPX May 25th 2700/2675 put spreads for .45. Sold as a #ReverseRoll for 7.60 on May 10th.
Sold $SPX June 22nd 2620/2595 put spreads for 1.70.
Sold $SPX June 15th 2700/2675 put spreads for 5.25.
#shortstrangles ROKU
Sold June 15, 32/40 for 1.05, TastyTrade/@Fuzzball idea
@hcgdavis
Do you use a scan to look for opportunities for your #supercharger strategy, or is it a manual search every time?
#shortputs KSS
Bought June 1, 60 put for .15, sold Tuesday after earnings for .62.
STO January 2019, 80 puts @2.05 with stock at 102.80
Keeping with my #Currency theme this week:
Sold $FXB Jul 20 129 puts @ 1.05
#LongCalls #LEAPS – Here’s the 2020 reset. I’d prefer a bigger pullback but not sure when (or if) it will come.
Bought FAS JAN 17 2020 67.0 Calls @ 14.75
Sold FAS JUN 1 2018 67.5 Calls @ 1.02
Payoff by Jan 2019 and Jan 2020 is .42/.16
#LongCalls #LEAPS – Going through all my 2019’s and seeing what’s nicely profitable and looking at closing and resetting to 2020’s. Here’s the first one I came across. Weeklies were ITM and rolled out to July. Taking advantage of the weakness today to take this one off for a nice gain. Even though I’d reduced basis from 10.50 down to 4.50 in just two months I think I’ll feel better starting a new one in 2020. I’m finding the extra time is well worth the little bit extra it costs.
Sold to Close FAS JAN 18 2019 65.0 Calls
Bought to Close FAS JUL 20 2018 68.0 Calls
Net gain of 1.95 on a 10 lot in a couple months. Happily moving on….
STO Jun 1 325.00/322.50 BuPS .25 #Bitty
#pietrades normally would have rolled/closed these tomorrow but there are only 4 of us in the office tomorrow (usually 14) so I doubt I would have any time to trade. Will be busy!
BTC MAR 139 puts for 1.70. After 2 rolls still made $459 in 2 weeks. Did not like the way the chart was starting to look. With gas/oil prices climbing may be less travel this summer.
This brings me to my next conclusion. It is debatable whether to trade individual tickers on #pietrades for the higher premiums than we get with ETFs vs taking advantage of some of the leveraged ETFs. Personally I am trying to move to ETFs, but the weekly premium dried up. Today might help. SMH still looked good for a week but IBB, XBI and the indexes all dropped their juicy premiums. So anyway, I have been doing this for several months now, I think it may be safer and easier to trade the leveraged products. You do not have single company risk, the premiums are high enough they are easy to roll. Yes in a big market drop they will get crushed but in looking at their histories most would be reverse split instead of liquidate like XIV/SVXY. Thoughts? Anyone see a risk I am missing?
So with that said with the recent splits looks like the list from a few days ago is still accurate but the liquidity is not all the way back on TQQQ and UPRO. I tried to #supercharger them but the market makers were not giving reasonable fills.
GM 37.5 CC expires 6.8. Was going to try to keep it for the dividend now but rolling only gives me .14 credit, not worth it. Hopefully I will be called out early for the dividend so I can use the cash somewhere more productive.
LABU STO 84 put for next week 8 DTE for 1.45
LABU rolled 85 put to next week 84 for 1.05 credit.
LABU rolled 85 put to next week 84 for 1.1 credit
AMAT rolled 51 CC to next week for 0.36 credit. Cost basis now 53.11 and will keep chipping away.
AMAT 50.5 CC rolled to next week for 0.42 credit. Cost basis now 49.93. Will allow assignment or roll again next week depending on premiums.
#spycraft closed the 15 DTE 265/262 pcs fro 0.25. sold for 0.24 so lost .1 and commissions.
#supercharger Found a good use for SOXL and BIB since they don’t have weeklies.
SOXL 22 DTE 125/130 vertical debit spread for 4.65. Should close for 5 credit close to the end. 30 + points ITM and still able to squeeze out 13-14% return for 22 days. That’s 169-182% annualized and easy to mange if it implodes.
Hope everyone has a great long weekend! Thanks to all those who served!!
#ContangoETFs Closed these positions yesterday, leaving me flat in all three tickers.
BTC $KOLD Nov 68 call for .25. Sold for 2.50 on March 23.
BTC $NUGT Jan 2019 50 call for .98. Sold for 5.025 (avg price) in Dec/Jan.
BTC $DUST Jan 2019 45 call for 1.05. Sold for 4.80 on Feb 9.
Most of these news driven pullbacks have been buying opportunities lately.
Dow falls nearly 120 points after Trump sends letter to North Korea's leader calling off the upcoming Singapore summit https://t.co/aUSrApFtNK pic.twitter.com/oZvmYK3FxC
— CNBC Now (@CNBCnow) May 24, 2018
#earnings #shortstrangles BBY
Bought 65/75 strangle for .37, sold yesterday for 1.07
#LongCalls #LEAPS – Did manage a few today…
======================================
LUV:
Bought to Close LUV May 25 2018 53.0 Calls @ .05 (sold for .32)
Sold LUV JUN 8 2018 52.0 Calls @ .50
======================================
OLED:
Bought to Close OLED MAY 25 2018 104.0 Calls @ .10 (sold for 1.70)
Sold OLED JUN 1 2018 99.5 Calls @ 1.25
======================================
TLT: #PerpetualRollingStrangles
Bought to Close TLT JUN 1 2018 119.0 Calls @ .24 (sold for .40 double sale so closed early for safety)
======================================
DG:
Added to DG for earnings next week…full position now
Bought DG JAN 18 2019 95.0 Calls @ 8.70
Sold DG JUN 1 2018 101.0 Calls @ .90
======================================
CELG:
Bought to Close CELG MAY 25 2018 86.5 Calls @ .03 (sold for .65)
Sold CELG JUN 1 2018 79.0 Calls @ .72
======================================
#StockSplits – Have to say I missed this. Kinda surprised when I got back in and saw some strange numbers in my account. Quite a few funds forward and reverse splitting. I was wanting a few more contracts in TQQQ and looks like I got them! 🙂
http://www.proshares.com/news/proshares_announces_etf_share_splits_050918.html
#VIXIndicator I did a double-take when I looked at my screen. Wouldn’t have thought a day opening as negative as we did would finally get us across the threshold, but looks like the official close on VIX is 12.58. That’s the first close this low since January 26th.
If we close below 12.61 for two more consecutive days… tomorrow and Friday, that will be an Upside Warning.
#spxcampaign
Bought more $SPX June 15th 2825/2850 call spreads for .60. A double position now, so I can sell half for maybe 3.00 or 4.00 and then wait to see how far we go up.
Closed on GTC order: June 8th 2820/2845 call spreads for .20. Sold for 1.65 on May 11th.
Sold June 22nd 2810/2835 call spreads for 1.80.
All major US stock exchanges are closed Memorial Day, Monday, May 28, 2018
…but, y’all ready know that? Enjoy your Holiday!
Yesterday BTO 251.0/249.0 Puts .78 today STO 249/247 puts .80 net cost after commish .03
Thx Sue
#shortcallspreads TSLA
sold 2, June 15, 310/315 at .53 each
#ShortPuts
STO $TGT Jun 29 70 puts @ 1.56
STO Jun 1 1552.5/1550.00 BuPS .36 #Bitty 2x
#earnings #shortstrangles BBY
Sold June 15, 65/86 strangle for 1.07, BBY is just under 76
#shortputs TGT
Sold June 15, 67.50 for .52
May 23 Rolls #PieTrades #CoveredBackRatio
LMT x 2: Closed Jade Lizards for this week capturing $820 in profit, about 40% of max, but close to max on the graph position. Flat LMT right now. The campaign to get a stock assignment for 300 shares (for div) brought in $2820 in 3 weeks. Abandoning pursuit of div at this point.
BABA x2: Rolled calls from May 25 to June 1 collecting $303 on the roll. #CoveredBackRatio Cost Basis $195.88
NVDA: Rolled calls from May 25 to June 1 collecting $686 on the roll. $257.5 assignment now has a basis of $244.57
MA: Rolled calls from May 25 to June 1 collecting $136 on the roll. #CoveredBackRatio Cost Basis: $188.81
SHAK: New Covered BackRatio Dec 52.5c x 4, -57.5c x 2, short June 1 58.5, Starting cost basis: $57.17
Last Sunday night I added up all the sold premium for May 25 expiration. TT says plan on keeping 25% of sold premium. Sunday night I had a total of $11,613. As of today $6,542 of that has been booked. Still to manage this week: AMZN, BA, CRM, IBM, NFLX.
TGT is down 5%
#spxcampaign Sold to open SPX Iron condors June 15th Weeklies 2820/2800/2585/2565 for 2.30
MU #Earnings BOISE, Idaho , May 23, 2018 (GLOBE NEWSWIRE) — Micron Technology, Inc. (NASDAQ:MU) today announced that it will hold its fiscal third quarter earnings conference call on Wednesday, June 20, 2018 at 2:30 p.m. MDT . A live webcast of the call will be available via the Investor Relations website at investors.micron.com. A webcast replay will be available for approximately one year after the call.
#ShortPuts #CoveredCallCampaign
STO TRTN Jun 15 35 puts @ 1.15, shares at 35.66 on this dip.
BTC TRTN Oct 19 40 CC @ 1.80, STO Mar 3 @ 2.49, strike getting too close to share price to make any profit.
ATTN: 18 Jan 19 strikes now open!
ExDiv: May 31, @ .52
#shortputs #coveredcallcampaign #assignment CRUS
I was assigned CRUS through the exercise of a short 45 put. This started as a put spread that went bad, sold the long and rolled the short to June 15, giving me a basis of 40.15, not bad if CRUS stabilizes, on to selling calls. CELG discussion below noted.
#SPXcampaign Closed $SPX May 25th 2745/2770 call spreads for 1.15. Sold for 5.80 last Wednesday (I posted this at the time as 2750/2775, but it was actually the 2745/2770).
BTO Jun 28 49.50/51.50 Calls .84 #Bitty
STC May 25 247.5/250.0 Call spread cost 1.30 now 2.10
7 days
STO Jun 8 185/182.50 BuPS to make a BF .81 Had 187.5/185.00 put debit spread for 1.03 now cost after commish in net .27 Very low risk
Thx Sue
#SPXcampaign Sold to Open $SPX June 22nd 2585/2560 put spreads for 1.75.
I am holding #SyntheticStock position in $CELG. 105/105/100 for July. Last night I was assigned the 105 Puts.
I was still in the process of covering max loss by selling Calls and would have achieved this if the roof had not fallen in!
Would appreciate your thought’s on the the best way to handle this.
#shortputs
$NFLX STO 6/15 310/320 BUPS for 2.00
#ContangoETFs Closed $GUSH Dec 46 call for 9.90. Sold on Apr 4th for 4.00.
Order filled on the way down, and then it dropped a lot more. Using a #StrangleRoll on this… it’s quite doubtful that both of these strikes will expire, but I’ll take the premium now and deal with any breaches later.
Sold GUSH Dec 32/57 strangle for 10.55.
Borrowing an idea from Tastytrade. I saw a segment where they talked about currency options and that FXE in particular, while having a low nominal IV, had an IV rank of above 60. It’s probably one of those trades that won’t make you a lot of money, at least from a ROC % angle, but won’t kill you either because the underlying typically doesn’t have huge moves (as a %). Currencies are also relatively uncorrelated with the major averages so there’s the diversification angle. Because of the low premiums you have to sell very tight strangles (or straddles) to get anything. Putting this one on for July and will watch it closely.
Sold $FXE Jul 113/114 strangle @ 2.14 with FXE at 113.13. Breakevens are 110.86 and 116.14.
Options Bistro 