Sue, what do you think about using your strategy for trading over earnings?
Am I missing something here?
BTO Aug 17 62.50 Put
BTO Aug 17 60 Call
STO June 22 58 Put
STO June 22 63 Call
Limited risk + possibility to keep selling premium.
After window shopping at Options Bistro for several months, I’ve decided to come inside and talk shop. One of my best days as a trader was the day I discovered the Bistro. I’m so impressed with the creative ways that everyone here makes money. I love how you fight to get back to even no matter how long it takes. My inclination as a trader has been to take my lumps when I have a loser, dump it, and move on. I’ve learned at Bistro that there is a better way.
As to where I fit in the growing Bistro family, I’m Smasty’s (Sue) sidekick. We are on a perpetual hunt for better, stronger, and more profitable trades. She is the options maestro and I’m the wordsmith and caretaker of the petri dishes. She comes up with innovative, sometimes complex trade designs. Together we analyze them, tweak them, name them, and test them with real money. We are relentless mad scientists. We’ve discovered and customized trade designs that work in almost any market conditions.
I’m a trend trader at heart. My approach is to determine the trend (bullish, choppy, or bearish), identify instruments that move with the trend, and use designs that capitalize on the trend. I gravitate to high probability, limited risk trades that allow me to trade another day if the worst-case scenario plays out.
My favorite setups are diagonals, collars, fuzzies, superchargers, calendars, pre-earnings, and long shots. I trade unhinged when I’m really bullish and unbalanced when mildly bullish. Forgive my cheeky sense of humor.:-) Beware my favorites list is subject to change daily. After all, Sue is my trading partner. We never met a trade that couldn’t be improved and we don’t mind leaving our failed petri dishes by the side of the road. Lol.
Thank you, JeffP, for allowing me to be a contributor. It is an honor. I look forward to sharing trades with you and continuing to learn from all of you.
A late fill. BTC July 20, 205 calls and STO August 17, 210 calls for a credit of 1.92
This against my long January 2019 200 calls.
$SPX STO 6/22 2755/2780 BUPS at 6.20 Thank you @jeffcp66 Long live the SPX Campaign
$MTN BTC 6/15 250 call and STO 7/20 270 call for 15.40 credit. Will gain 20 if called on 7/20. Uneasy feeling.
Afternoon all Had a few trades this morning before I headed out.
AMZN #BuPS June 22 1585/1605 @ 1.05 when AMZN was at 1687.
ROKU #ShortPuts Sold ROKU June 15th 39 Put @ 0.65 when ROKU was at 41.37
FAS #ShortPuts Sold June 15th 69 Puts @ 0.80 when FAS was at 70.81
Sold DBX June 22nd 31 Calls @ 0.45 when DBX was at 30.13. Had to go out 2 weeks for a fill on the 31 strike.
Have a wonderful evening. Stay cool.
#ShortPuts #IRA – Moving out into Jan for next sales…
Sold EWZ JAN 18 2019 35.0 Put @ 4.46
Sold EWZ JAN 18 2019 3o.0 Put @ 2.10
#Earnings – This thing just looks way overbought here. Taking a shot with a #JadeLizard with no upside risk while giving it some downside room. Thanks @Jeff for the data on this. Staying small here…
Sold RH JUN 15 2018 94.0 Puts @ 1.37
Sold RH JUN 15 2018 120.0/122.0 Bear Call Spreads @ .75
Total credit 2.12 with 2.00 of upside risk. Breakeven of 91.88 to the downside which is about 10 dollars more than the expected move.