#VIXIndicator We’ve seen this movie before, but each time it happens at a lower VIX level. Today should be the second close below the PREVIOUS 78.6% Fib line, but we need to close at 11.01 or lower to cancel this current warning. Because we are in the third Downside warning without an Upside one, the normal levels may be out of whack. It certainly looks as if we’re ready to cruise higher but we’ve been fooled many times this year.
STO Jun 15 BuPS 172.5/170.0 .35 #Bitty
#LEAPs Thanks for all the input on my question below. It was very helpful and educational. I elected to TTMAR. I sold my call @ 2630 with QQQ at 175.16, right when the market turned up. Didn’t I once say I was the master of bad timing. Lol
#SPXcampaign I built this one up to a triple-sized position, back when we thought maybe an Upside Warning was coming. Now they’re close to expiration with less chance. Taking off 1/3 now at about breakeven.
Sold $SPX June 15th 2825/2850 call spreads for .70. Acquired in May for .743, avg price. A double position still remains.
Older study but good data. They keep showing 45 DTE is always the best performance for selling options OTM. Also managing at 50% seems to be key to consistent gains.
I like the #pietrades a lot and will continue to do them as my primary trade tactic but for those with bigger accounts may be better to sell 45 DTE and set up ladders. Can stay farther OTM, stay on the sweet spot of decay fro OTM options, less adjusting, and steady income. This alludes to the million dollar account with SPY from a few days ago.
Rolled my June 29, 50 puts out to July 15, 50 puts for a credit of .45 cents. I have covered 35% of the cost of the bearish hedge in January 2019. I hope to cover the rest by the end of the year. Hopium!
Definitely a risk on day, people piling into the market at all time highs. To quote Buffett, be greedy when others are fearful and fearful when others are greedy. I think we are approaching the latter.
I am sitting on my hands and letting theta work but am actually starting to look for some potential hedges that could pop in value if/when we get reversal and pull back. Not saying it would be big, but this is not going to end well for people that are just getting into the market at all time highs.
BTC June 29, 85 calls and sold July 20, 86 calls for a credit of .60 cents. I am long the 84.78 calls in 2020. If they expire in July, I will have covered 32.3% of the original cost and I am trying to cover the cost by the end of this year.
BA: I’ve got two of these on, a #CoveredBackRatio and an #UnbalancedDiagonal . The CBR had a virtual call assignment today, closing the full position for a net $2964 profit on an 8×4 setup. The UB I put on right before the close yesterday and is up smartly today.
TWTR: Opened a new Unbalanced Diagonal: Aug 37 call x10 @ 5.25, sold Jun 15 40.5 call x8 @.92. I’m really loving these unbalanced diagonals, how you can really bring the long strike up closer to ATM, thus lower risk, and at the same time bring the short call down closer to ATM (collect more $$), but the ratio makes the trade work so well.
SPY added a few more #Saf-T contracts. I’m still waiting for Saf-T shares to get called so I can reset them. I decided I make more profit waiting for full profit and paying the assignment fees, vs front running the assignment myself and giving up a few cents in order to save the fees.
I expect a really slow day from here on. It’s a “theta day” where I just sit back and catch the pennies.
Sold July 20, 50 put for 1.00, NKTR up 7 to 63 today
#LEAPs QQQ Question if anyone wants to opine. I bought 1 QQQ Jan 2020 161 Call @ 19.50. I gave up trying to sell calls against it because of the recent uptrend. I kept having to buy them back, adding to my basis which is now about where I started. I have a nice profit in the call and am wondering where to go from here. I see four options. Try to sell another call against it. Close the position and TTMAR. Roll the call up to say the 165 strike. Or do nothing. If I were to sell a call would it be better to go further out or continue the weeklies trying to whittle away the original basis. Thanks in advance for all your opinions and support.
TWTR #shortputs Closed my June 08th 37 Puts @ .04. Sold Monday for 0.87. Its good to be lucky. Just not wise enough to have gone long.
#SPXcampaign Closed on GTC order: $SPX June 14th 2590/2565 put spreads for .20. Sold for 1.65 on May 17th.
#LongCalls #LEAPS – This was one of my first attempts at this style of trade. With the low weekly premium I’m cutting it loose due to the whipsaw risk vs the potential profit…just not enough premium to sell.
Bought to Close LUV JUN 8 2018 52.0 Calls @ .05
Sold to Close LUV JAN 18 2019 60.0 Calls @ 1.35
Stock moved against me from day 1 but still squeezed out a profit after commissions…LOL. A whopping 8 cents per contract. Better than a loss!
Adding a shorter rung to the Dec/Jan ladder that @fuzzballl sold yesterday.
Sold $WYNN Sep 21 140 puts @ 2.10.
#LongPuts #LongCalls #LongLEAPStraddles – 2020 position playing both sides (for now). This early in the trade I can afford to be really aggressive. Put side only needs 1.19 per week to be covered a year early. Call side is just 68 cents.
Bought to Close TSLA JUN 8 2018 292.5 Puts @ .85 (sold for 7.15)
Sold TSLA JUN 15 2018 302.5 Puts @ 6.43
Rolled TSLA JUN 8 2018 292.5 Calls to JUN 15 2018 295.0 Calls @ .40 credit
SOXL is going ex-div on 2018/06/19.
Amount is not known so far.
Sold $AMBA Nov 16 32.50 puts @ 1.10. Stock hasn’t been there in almost 4 years.
#SPXcampaign Sold after the closing bell yesterday: $SPX July 6th 2830/2855 call spreads for 1.65.
Today I’m just letting time decay do its thing. I may sell something if we reach significant highs or lows.
#LongCalls #LEAPS – This thing is in a squeeze that could go either way. Selling this new batch a couple weeks out and won’t hesitate to roll if deltas become negative. 2020 position that need 66 cents per week to be covered a year early.
Bought to Close RTN JUN 8 2018 217.5 Calls @ .10 (sold for 1.25)
Sold RTN JUN 22 2018 217.5 Calls @ 1.25
I notice that it has been going up but on low volume. Perhaps a warning sign?
BTC July 20, 30 puts @.05, sold at 1.20
Rolled Jun 8 103 call to Jun 15 104 .13 Cr have a Jun 15 100 call
up 17% after earnings
AMBA down 14%
STO BeCS Jun 8 1750/1752.5 .23 2x makes an IC
STO BeCS Jun 8 380.0/382.5 .16 Also an IC
Just a bit more credit for this week.
STO BeCS 2760/2770 for $2.25, 2760 is about R2, but delta is 0.33, higher than I like
STO BuPS 2745/2735 for $0.90, prices moving up strong, delta 0.172 safer level I think
This approach worked well last 2 expiration days so I’ll keep trying it until it fails. I add later in day after volatility dies down but premiums richer early in day.
Rolled my June 29, 202.5 calls out to July 13, 205 calls for a debit of .30 cents. I own the January 2019 calls.
BTO Jul 20 176/174 Put spread .81 #Bitty