#shortputs
$BABA STO 6/15 195/202.5 BUPS at 2.08 Added more contracts on Yahoo tender news.
$SQ STO 7/6 58 puts at 1.45 Thank you @jeffcp66
$X STO 6/15 37 put at 1.07 Thank you @jdietz1954
$WYNN STO 7/6 165/170 BUPS at 1.30
#longcalls
$MDT STC 6/15 82.50/87.50 BUCS at 4.25 BTO at 2.40 71% of max profit PLUS peace of mind. 😉
#shortputs AMAT
sold July 20, 48 put for .81
TO January 2019, 80 puts @1.50
#shortputs T
Closed July 33 put and 34 put, the 34 had been rolled, small gains, being safe.
#shortputs SDRL
Here is a fun little TastyTrade idea, pretty much the opposite of the creative strategies regularly discussed here.
Sold Jan. 2019, 1 put for .86, current price of SDRL is 46 cents, down 4% today, over 4 million shares traded today
Near the top of the range and pulling back today.
Sold $CAT Jul 20 165/175 BeCS @ 1.25.
Forgot to hit the “Post” button earlier. X has since pulled back some. SIG is holding steady.
X #Shortputs Looking like it wants to push higher. Sold June 15th 37 Put @ .70.
SIG #Shortputs Everyone needs a bit of glitter. Break out day 2 after earnings. Pushed back above the 200dma. Sold 1 54 Put for tomorrow expiry @ .60. Looks like it might make a fair income position if it continues to hold up. Initial stop on the stock will be about 52 if assigned.
STO 6/15 37 put 0.79 credit #pietrade
EWZ is down another 5%.
Is it an opportunity to go long?
Rolled my 6/8 38 call out to 7/20 40 call for 0.81 credit, also BTC 6/8 36.5 put for 0.05 sold 6/5 for 0.40. I am working against stock assigned at 42.50. CB now down to 39.79. #pietrades
In my IRA, rolled June 29, 56.67 calls to July 20, 57.67 call for a credit of .05 cents.
#shortputs
WDC is down 4%
Sue, would you hold any Aug/Sep/Oct #unbalanceddiagonal position over earnings, or close prior to earnings?
BTC June 29, 60 calls @ 2.38 and STO July 20, 61.67 calls @ 2.43
#LEAPs Selling some puts on weakness. I’m basically strangling these long LEAP and #CoveredCallCampaign stocks… kind of an adjustable strangle after having to roll some breached calls.
Sold $PYPL July 6th 83 put for 1.25
Sold $SQ July 6th 58 put for 1.20
BTC June 29, 38.5 calls @ 2.74 and STO July 20, 39 calls @ 3.10
After getting smoked yesterday with my June 06 2760/2770 I reentered June 08 2780/2790 @1.50 selected because 2780 was at 3rd Bollinger Band, an unlikely target to attain.
Today I added at 2.50, and also 2785/2795 for 1.80 when prices were rising about 2775. Missed the top 2779.44 but happily it peaked and is falling now. I am watching for support at today’s pivot line: 2764.
SJM is down 4%
#Market Financials ($XLF) got off their ass yesterday and are up again today, but tech ($XLK) is tumbling. Seems that these rallies can’t get everyone to join the party at the same time.
#shortputs TRTN
bought June 15, 35 put for .65, sold for 1.10 on May 23.
STC Jun 8 1617.5/1620 DIM Call BuCS BTO 6-4 2.17 closed for 2.49
Dep ITM call spread.
#SPXcampaign I’m getting pretty torn up on the call side, in triage. I can say I am reconsidering my entire approach. After a couple of good years of SPX spread trading, it simply has not been working for the last 10 months. The Upside Warning works great, but it usually comes too late, and the Downside is too unreliable and prone to head fakes.
My goal was always to build a strategy that can follow rules and roll when necessary. But the market has revealed its ability to whipsaw like no time since the 2008 crash. #SPXcampaign is not sustainable, or at least, selling call spreads is not sustainable.
I have already been working with LEAP and Covered Call strategies, so I’m at a point I need to reassess whether to continue SPX trading, or change it dramatically and make it a smaller part of my portfolio.
I’m not posting my SPX trades today, but I can answer any specific questions you have about trades you’re in. Mainly, I have about 6 call spreads that all passed their stop levels between yesterday afternoon’s surge higher and today’s open. I am selling some put spreads, but not enough (yet) to make up the losses. I will be still watching for the Upside Warning and getting more aggressive, but mostly with shorter term spreads as I can’t trust it to last.
ADBE: This started as an Aug/Jun 15 #UnbalancedDiagonal 7×5, until I realized I had forgot about earnings next week. So I scratched the qty 5 short calls for Jun 15 and sold 7 instead for this week. I took profits out the gate this morning for $602 total. I’d like to thank @mamacash for the idea to flip it to this week. Update: I did NOT see this drop coming, fully admit I had some luck jumping on profits at the open for my exit. My closing timestamp was 07:31:19, one minute after the open.
AMZN: Opening trade, protected #UnbalancedDiagonal 1. Bought July 1650 call x2 @ 80.05 2. Sold Jun 15 1700 call x1 @ 18.87 3. Bought Jun 15 XLY 108.5 puts x10 @ .38. One thing I’m learning at the pit is using partial profits on one trade setup as a sacrificial hedge (aren’t all hedges sacrificial…it was fun to say 🙂 ) in either the same or different/correlated product. It seems obvious, but I haven’t been doing much of that. So the XLY puts take $380 of the Amazon profits for a little extra downside protection. I continue to peel away more and more risk for trading this behemoth. Just a few weeks ago I was taking $160K risk, now it’s down to around $10-12K of risk.
Still to manage this week: I still have zero assignments on the Saf-T’s, LMT x2 (LMT lookin’ good! Will definitely put a dent in the RTN loss), that’s it!
Good Morning
Someone finally took my GM stock for the dividend. Total loss of $321 after 22 or so weeks of rolling. Could have been worse, at one point was down almost 4k.
Rolling works but names with higher premiums work better. For those following #pietrades GM is off the list. Plenty of better opportunities out there.
Options Bistro 