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— CNBC Now (@CNBCnow) May 17, 2018
Monthly Archives: May 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.
Short Puts ANET / SPX Campaign / Roll MZOR / Closed NFLX
#shortputs
$ANET STO 5/18 230/240 BUPS at .75 Thank you @thomberg1201
#spxcampaign
$SPX STO 6/15 2835/2810 BECS at 1.65 Thank you @jeffcp66
#rolling
$LABU BTC 5/18 83 call and STO 6/1 88.5 call at 1.00 debit (gained potential 5.5 points if called. Current price 91.90)
$MZOR BTC 5/18 70 put and STO 6/15 70 put at .70 added credit Now if the stock could start rolling upwards. Good thing that all these rolls are keeping me from gathering moss. (Sorry)
Closed Early
$NFLX STC 5/18 300/320 BUCS at 19.50 BTO on 4/9 at 8.40 But I did bite my nails on occasion.
TGT
#shortputs
Sold to Open $TGT June 15 77.50 puts @ 4.00. If assigned CB 73.60, shares selling at 74.96ish also take 3.31%, .62 div.
NOC
#LongCalls #LEAPS – Another week…
Bought to Close NOC MAY 18 2018 330.0 Calls @ .20 (sold for 2.30)
Sold NOC MAY 25 2018 327.5 Calls @ 1.80
Adding another GUSH
Sold $GUSH Sep 21 57 call @ 2.50. Highest strike.
#earlyassignment #coveredcalls TLT Assigned on…
#earlyassignment #coveredcalls TLT
Assigned on a May/June 121 put calendar, sold the June put, then sold a June 15, 120 call, cost basis of 116.94.
May 16 SPY Put Roll
I had a lot of 273 naked puts for today’s expiration (BTW, I love using Wed expiration for assignments so I don’t have to wait for over a weekend to hedge in 401K accounts. In non-401K I will sell calls in advance of assignment but you can’t do that in 401K accts). I was able to cover my puts for 25% profit today, then I flipped them to #BigLizard trades.
SPY May 23 -272.5p/-272.5c/+273.5c for 2.03 cr. Doing a Lizard brought in 25% extra premium vs. doing an ATM put only. Break even is 270.47 on these.
It looks like I will get an assignment on $274 SPY shares. Rather than sell calls-only against that position, I will explore a reverse Jade Lizard to bring in some put revenue, similar to a covered strangle, but less risk. I’ll update this after the close.
Sue
Calls sold
#Earnings #Rolling Sold $OLED June 15th 110 call for 1.95
#CoveredCalls #CoveredCallCampaign Sold $SQ June 15th 60 call for 1.40
QQQ
OLED
#LongCalls #LEAPS – Slow day today. I really like the premiums and rollability of this ticker. I’m in a tiny 2019 position so adding a little more out in 2020. I’ll add more when (if) I get the 2019’s covered but for now…
Bought OLED JAN 17 2020 105.0 Calls @ 26.90
Sold OLED MAY 25 2018 104.0 Calls @ 1.70
Payoff by Jan 2019 and Jan 2020 is .74/.30
SPX calls sold
#SPXcampaign Sold $SPX May 25th 2745/2770 call spreads for 5.80. This offsets aggressive put spreads sold for this expiry last week.
EDIT: strikes were previously entered incorrectly as 2750/2775
TQQQ
In my IRA, BTO 2020 165 calls and sold June 29 170 calls for a debit of 36.20 so I need .42 cents per week to break even.
APA
BTC October 22.5 puts @ .05
DBX #Coveredcalls Started a covered…
DBX #Coveredcalls Started a covered call on DBX. Late to get it on but bought stock @ 30.75 and sold the May 25th 31.50 calls @ 0.55.
BABA covered call
#CoveredCalls #CoveredCallCampaign
Sold $BABA Jun 22nd 215 call for 2.00.
MU #Shortcalls Closed my May…
MU #Shortcalls Closed my May 18th 54.5 call @ 1.72 when MU was at 55.81 just after the open. I have a feeling the upgrades will keep the price up. Depending on how the stock trades I will keep my long June 50 call uncovered.
Good morning
May 15–LMT
Not a ton of activity today, I have on enough ITM naked puts that I need to see what shakes out this week before taking on anymore risk.
LMT: I’m still stalking a share assignment for dividend (2.00 div on 5/31) (you guessed it…for Daddy! The “D-word” makes his old eyes light up). Turns out I’ve made way more than the dividend by stalking the dividend, which is as it should be. I’ve done 3 rounds of ratio spreads now, all closed for 70-80%. After closing a 3×5 spread for this week, I put on a #BigLizard #JadeLizard . A Big Lizard is a Jade Lizard using the same strike short put/calls (straddle) plus the protective call. Like a Jade Lizard, if done for a credit greater than the width of the call spread there is no upside risk. By adding the call credit spread onto the naked put, additional premium is collected pushing down that lower break even. I really wish I’d done more Big Lizards this week on stuff vs. naked puts. Here’s my trade:
May 18 -320p/-320c/+322.5c for net 3.62 cr. Since 3.62 is greater than the $2.50-wide call credit spread, there is guaranteed profit to the upside, no upside risk. The break even is figured by simply subtracting net credit from the put strike: $320 – $3.62 = $316.38. I’m running all my LMT’s with 3 contracts.
Sue
Rolling MTN / Closed Early SPX / Short Puts AMZN
#rolling
$MTN BTC 5/18 240 call and STO 6/15 250 call for additional .80 and gain potential 10 points
Closed Early
$SPX BTC 5/18 2745/2720 at 6.00 STO at 2.45 Took advantage of today’s dip. Whew!
#shortputs
$AMZN STO 6/15 1460/1500 BUPS at 4.68
SPX trades
##SPXcampaign Sold a couple before and after the closing bell.
Sold $SPX June 1st 2625/2650/2750/2775 #CondorRoll for 8.00.
Sold $SPX June 14th 2810/2835 call spreads for 1.60.
Taking some profits
Bought to close:
$CMI Jun 15 120 put @ .15. Sold for 1.60 on 11/17.
$KR May 18 25 puts @ .43. Sold for 1.31 as a rollout on 4/20. Overall profit on the position .42.
$CI Oct 19 135 put @ .80. Sold for 3.00 on 3/13.
TQQQ FUZZY
Rolled May 25, 162 calls to June 29 162 calls for a credit of 4.95 against my 150 calls in 2020. I am done rolling until June 15 when I may roll out to 45 days again. Now I am going to the gym. Back tomorrow morning in Option Bistro.
TQQQ and TNX
With the TNX breaking the 3.00% level I see the next stop at 3.60% and then 4.00%. So what does that mean for the TQQQ and market in general? The top of the trading range was 190 and the two corrections this year took us down to 130.If we break 130, I can see the TQQQ down to 70 since this is triple leveraged. The RSI has turned down but is still above 50 and the stochastics are still above 80 but have turned down. I can only say that at the 70 level, I like them a lot.
#earnings #shortstraddle M Following Mike…
#earnings #shortstraddle M
Following Mike at TastyTrade, sold June 15, 30 straddle for 3.59
BABA
Rolled May 18, 200 call to June 29, 202.5 call for a credit of 4.17. This is my 2019 200c,200p,195p fuzzy. I would like to get out of this one because the expiration is too short and I think the 2020 would be a lot better.
#shortputspread #bitty ANET Sold May…
#shortputspread #bitty ANET
Sold May 18, 230/240 for .75
#shortputspread #fallingknife WYNN Sold June…
#shortputspread #fallingknife WYNN
Sold June 15, 170/180 for 1.37
AMZN
Would like an opinion on a trade I may make.
BF Jun 1 25 1580/1600/1620 now at 2.25 looks like interesting R/R
any comments would be appreciated.
Did it for 2.30
DIS
STC May 18 99/100 call spread paid .53 5/9 .96 #Bitty profit
ULTA
BTO May 25 247.50/250.00 Calls 1.30 earnings 5/31 usually runs up into earnings.
#Bitty
Chinese Market
Chop Chop
Dec GUSH
Sold at the highest strike.
$GUSH Dec 21 57 call @ 4.00.
IWM
Closed spread from yesterday 1.01 bought for .71 small profit but not sure we will
continue down
HD
BTO May 25 188.50/190.00 Calls 1.25 #Bitty
UVXY
#BearCallSpreads – Replacing some of the ones that have closed recently. One fourth size to allow room to add.
Sold UVXY SEP 21 2018 20.0/30.0 Bear Call Spreads @ .71
UVXY
#BearCallSpreads – Surprisingly, the rest of this filled today…
Bought to Close UVXY JUN 15 2018 25.0/35.0 Bear Call Spreads @ .06 (sold for .81)
NVDA
#LongCalls #LEAPS – Booked this one a little early so I could get the next sale going…
Bought to Close NVDA MAY 18 2018 260.0 Calls @ .34 (sold for 3.57)
Sold NVDA MAY 25 2018 255.0 Calls @ 2.59
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Looks like I’ll be rolling the short puts down so bringing the short calls down and in with them. May end up with a short straddle for next week…
Rolled TSLA JUN 1 2018 312.5 Calls down and in to MAY 25 2018 295.0 Calls @ 2.20 credit (6.90 total now)
TLT
#PerpetualRollingStrangles – Going out a couple weeks on next sale…
Bought to Close TLT MAY 18 2018 119.5 Calls @ .05 (sold for .52)
Sold TLT JUN 1 2018 119.0 Calls @ .40
LUV
#LongCalls #LEAPS – Another week done…
Bought to Close LUV MAY 18 2018 53.5 Calls @ .08 (sold for .60)
Sold LUV MAY 25 2018 53.0 Calls @ .32
EWW
#LongCalls #LEAPS – This completes another double dip. NAFTA deadline this week so it could go anywhere…
Bought to Close EWW MAY 18 2018 49.5 Calls @ .03 (sold for .36)
Sold EWW MAY 25 2018 48.0 Calls @ .25
Closed my SVXY at $13.145,…
Closed my SVXY at $13.145, bought for $133.57, now I don’t have to look at it anymore.
ERX
Rolled May 18, 37.5 calls to June 29, 38.5 calls for a credit of 1.05
#Coveredcalls Rolled my ROKU May…
#Coveredcalls Rolled my ROKU May 18th 37 Calls down to 36 for a .20 credit.
Gartman
Funny, according to SMM, Gartman wrote that he has to be bullish and that was yesterday in his letter.
SPX puts closed
#spxcampaign
Yesterday: Closed $SPX May 31st 2570/2545 put spreads for .35. Sold for 2.85 on May 4th.
This morning, pre-market: Closed SPX June 1st 2610/2585 put spreads for 1.30. Sold in a #CondorRoll last Wednesday, for 2.45 for the put side. I closed this to lighten the load if we get crushed today, and to give myself a nice chunk of buying power back.
A-bomb
#Earnings Big drop in $A this morning… I called my strangle “super-safe”… it has only ended the day after earnings over 10% down twice in 16 years, and exceeded 10% intraday one additional time. So this is an unusual move, but we have until Friday for recovery.
Interest rates
The 3 month treasury bill now have a higher yield than the S&P 500 so it is a risk free return for institutions.
Tumbling
Volatility has not left the building
Catching Up on Monday
Out all day for a golf outing. Weather great. golf needs improvement.
Closed Early
$SPX BTC 5/18 2750/2725 BECS at 10.50 STO at 2.70
$TSLA BTC 5/18 350/340 BECS at .05 STO at .90
$GOOGL BTC 5/18 1047.50/1055 BUPS at .10 STO at 2.60
$AAPL STC 6/15 165/180 BUCS at 14.00 BTO at 6.25
$NFLX BTC 5/18 300/310 BUPS at .30 STO at 1.95 Closed half of position
#rolling
$SPLK BTC 6/1 110 call and STO 8/17 120 call for 1.30 debit. Gained $10 on call price but stock spelunked
#spxcampaign
$SPX STO 6/15 2585/2610 BUPS at 1.65 Thank you @jeffcp66
#earnings #shortstrangles
$A STO 65/75 strangle at .78 Thank you @jeffcp66 Put side will need watching
Directional tweak to #pietrades. Less…
Directional tweak to #pietrades. Less adjusting, faster and larger profits. Not going full directional but I am using a 4 hour chart with all my technical indicators to improve the probability of the trade working out. 4 hour charts seem to predict the next week expiration fairly well.
Example below is of IBB. I sold the 104.5 put for 1.15 on Friday. If you notice, it was coming off support and had just signaled a buy signal, confirmed on 3 indicators. Not that they can’t be wrong but they are fairly accurate. Perfect time for a close to the money or even ITM put sale. In retrespect I should have sold ATM.
The second chart is MAR which I sold a put on today. Normally a chart like this I would sell an ITM CC with the expectation that it would pull back. I could then roll the call to the next week for additional income. Today I had exactly 8 minutes for lunch and it was quicker to sell the put. So my logic is that it will pull back a few points but looking ahead to next week if assigned at 139 = 137.90 cost basis, I can immediately sell the 138 call for 1.75-1.9 for 4 DTE or 2.35-2.55 for 11 DTE to gain additional cash and dropping cost basis another 1-2 points. Sometimes by looking a week or 2 ahead you can see in advance how to manage the trade if it ends up ITM. My hip is to be just barely assigned, then roll to CC until called away. Then rinse and repeat.
5/14 Trades
Happy Monday everyone!
AMZN: #PieTrades sold May 18 1600 put for $11.15 (last week received full profit of $1071 on a CC)
CVX: Daddy loves his dividends. Bought him some shares for 5/17 $1.12 div this week (@130.23) sold May 25 133 call for .41, will watch to be sure I stay out of the danger zone on the short call w/ div this week. Playing oil shares for div’s has bit me in the past, but he just really really loves dividends, much as I try to explain reality to him.
TSLA: Added @fuzzballl ‘s trade to balance out the short I have on it (Jan 2020 290/390 bull spread with June 1 310 short call). So much drama envelopes this stock, having both sides on sounds good to me. TSLA is like that famous “Daughter/Sister/Daughter/Sister” scene from Chinatown. $100, no $500, no $100, no $500. 🙂
BABA: 1×2 spreads for this week closed for 70-95% profit, added naked puts for friday 197.5 strike for 1.91 cr for #pietrades assignment
GRUB: A top IBD stock, sold puts for Friday 101 strike @ 1.50 cr for #pietrades assignment
MU: Added a new Fuzzy: Jan 19 55/55/47 @3.69, May 18 55.5 call @
SEDG: IBD50 new #1, closed ITM naked puts from last week for 82% profit. It only has monthlies.
SPY: A bunch of 1×2 put spreads closed at the open for 70-80% profit. Added in a few Wed naked puts for #Pie assignment. 273-274 strikes for .71-1.09.
That’s about it for today
sue
Afternoon all Catching up with…
Afternoon all Catching up with positing. #Pietrades, #Leaps,
Bought to close my SQ 54 Put for 0.87. Originally sold for .95 on 5/10. Tried to sell a 53 Put at 0.55 but no dice. Try
again tomorrow. I felt the 54 Put was too high and I wanted a lower strike in case this pulls back more.
Created a covered call on ROKU in a back-ass-ward way. Meant to sell a MU call and had ROKU loaded (Hey they both end in U). So sold ROKU 37 Call @ .68 and followed this by underpinning (Is that the opposite of covering) with stock at 36.39.
Did get the MU May 18th 54.50 call sold for .50.
BTC my ERX May 18th 38 Put @ .30. Originally sold for .88 on 5/09. Will look to reload.
AAOI Sold to open May 18th 31.50 Put @ .50
#Leaps
Sold ERX May 42 Call for .45
Sold QQQ May 18th 172 Call @ .40.
BTC SVXY May 18th 13 Calls @ .46. No premium or clear way to manage this with weeklies.
And that’s all the damage for one day. Have a great evening.
TQQQ & SQ rolls
#LongLEAPs Closed $TQQQ June 1st 170 #SyntheticCoveredCall for 6.00. Sold in a #StrangleRoll on May 9th.
Sold $TQQQ June 8th 157.5/177.5 strangle for 6.30.
Closed $SQ June 8th 56 call for 1.60. Sold for 1.88 last Thursday. Will wait to roll on the next move up.
#shortcallspreads #rolling TSLA Closed May…
#shortcallspreads #rolling TSLA
Closed May 18, 300/315 rolled call spread, made $39. I had a couple chances over the last 2 weeks to close, held out for more, settled for less but salvaged a small gain as TSLA drops.
UVXY
#BearCallSpreads – Starting to run low on inventory…
Bought to Close UVXY JUN 15 2018 25.0/35.0 Bear Call Spreads @ .06 (sold for .81)
EDIT…just noticed only a partial fill on this lot.
TSLA
#BearPutSpreads #LEAPS …adding #BullCallSpreads now. Trading both sides with the great premium. Using 2020’s for the call side.
Bought TSLA JAN 17 2020 300.0/400.0 Bull Call Spreads @ 34.00 (2019’s were nearly 30.00 so went 2020)
87 weeks to go so need 39 cents per week or 97 cents to cover max loss with a year to go…if TSLA really tanks I’ll probably book the winner on the short 400s.
So:
Sold TSLA JUN 1 2018 312.5 Calls @ 4.70
Found a few for the…
Found a few for the weekly #pietrades that expire this Friday.
BTC IBB 104.5 puts for 0.25. Sold Friday for 1.15, thanks mr market
#spycraft SPY 25 DTE 265/262 put credit spread for 0.24. Waiting on call side until the manic buying stops.
STO AAL 42.5 puts 4 DTE for 0.53 credit. Cb 41.97 as long as @fuzzballl stays off the throttles, fly slow!
STO MAR 4 DTE 139 puts at 1.1 for cb 137.9 if assigned.
GM 38 CC 2 weeks rolled out 25 dte to 37.5 for 0.32 credit. Cost basis 37.72 and if it is above 37.5 they can have it. Just want the cash out so can trade other tickers.
STO MU 4 DTE 52.5 put for 0.86 cb 51.87 if assigned.
STO 4 DTE AMAT 55 put for 0.98. Cb 54.02 if assigned.
Usually not that active on a Monday but had a ton of expirations on Friday and since IBB gave me a gift was able to double down on MAR doubling my usual cash income 🙂
Now I sit on my hands until Thurs. or Friday.
TQQQ-bear trade.
BTC May 18, 150 puts and sold the June 29 puts for a net credit of 4.30 but these expire in January 2019. I have reduced the cost of the trade from 28.10 down to 19.38 so the premiums are great so far.
LB puts closed
#FallingKnife #ShortPuts BTC LB Jun 15 30 puts at .55, STO May 10 at 1.35. Taking 60% profit early. Thanks @optioniceman
ANET
BTC June 165 puts @ .05, sold at 2.45
ALL
BTO May 18 95/92.50 Puts .41 #Bitty
Another sell from Shadow Trader
#shortputs #fallingknife SYMC Friday was…
#shortputs #fallingknife SYMC
Friday was the day for selling puts in SYMC when it dropped about 10 on internal audit shenanigans, but today sold a June 15, 20 put for .58. This is a Tradewise covered call stock that has brought in $430 in premium and dividends since last August when it was initiated at 28 and change.
TSLA
Amazing it’s holding up this well. Saw over the weekend some top talent leaving and/or taking extended leaves….and this:
https://www.digitaltrends.com/news/tesla-model-s-crashes-into-fire-truck-in-utah-at-60-mph/?utm_source=sendgrid&utm_medium=email&utm_campaign=daily-brief
IWM
BTO IWM May 18 160/157 Puts .71 looking for a pull back per ShadowTrader
#Bitty
14m
ShadowTraderPro Swing Trader Advisory – IWM – Short the Stock
mytrade.com/profile/status…
Rolling….
#LongCalls #LEAPS – A lot of rolling this morning. Out to July for the ones deep in the money. Others not quite so far. Some small debits but no problem with all the premium received so far. On the bright side most of these are trading above the LEAP strike so most of these calls are similar to trailing stops giving some downside protection. On a big pullback these could easily be rolled back in and down.
CELG: May 18th 85.5 to May 25th 86.5 @ .13 credit (nearing end of life so will roll any time it’s near the money)
FAS: May 18th 64.5 to Jun 15th 66.0 @ even
FAS: May 18th 64.5 to Jul 20th 68.0 @ .02 credit
OLED: May18th 96.0 to Jun 8th 100.0 @ .15 debit
ROKU: May 18th 35.5 to Jun 1st 37.0 @ .06 credit (I’ll look to book it if it reaches zero deltas again)
SMH: May 18th 99.5 to Jul 20th 102.0 @ .13 debit
TNA: May 18th 71.0 to Jul 20th 75.0 @ .28 debit
TQQQ: May 18th 152.0 to Jun 15th 156.0 @ .16 debit
XBI: May 18th 88.0 to Jun 22nd 90.0 @ even
XLY: May 18th 103.5 to Jun 8th 104.5 @ .02 credit
FB: Playing the Jan 2019 calls and puts on this one. Stock has rallied and I’ve sold puts all the way up nearly covering the put LEAPS already. Of course the call side has been struggling. It was 160 long LEAPS against 162.5 short calls next week. I’d like to get the call side back in the game so I’m using my old strategy that worked when AMZN was going crazy to the upside.
Rolling the LEAP calls up for a credit and using that to roll the weekly calls up and out. Basically a wash but gets the short calls into a much more rollable position. Moved the LEAPS up 10 but only got the weeklies up 7.50 since I didn’t want to go out any further and wanted a credit.
Jan 2019 160.0 to Jan 2019 170.0 @ 7.17 credit
Then:
May 25th 162.5 to Jun 15th 170.0 @ 6.65 debit
Options Bistro 