Sorry I have been a little quite for over a week as wife in hospital and am there most of the time.
But am watching and trading a little bit.
Daily Archives: Wednesday, June 20, 2018
GOOGL
BTO Jun 29 1165/1167.5 Calls 1.96 2x #supercharger
Adding disaster puts? Hmmmm….
Something my brother came up with that seems interesting. Ticker isn’t important or the length of trade or the strikes. The point of the exercise is the curve on the graph during an implosion. Adding disaster puts only adds a few pennies to weekly sales required on these 2020 positions while practically eliminating long term downside risk. This example is FAS buying LEAPS slightly ITM and disaster puts 20 percent below the current stock price.
You can play with the numbers and strikes to get a suitable position. I’m kinda liking the disaster puts idea though…
TWTR
#Coveredcall Sold the June 22nd 48 Call @ .35. Essentially a roll from yesterdays 46 Call.
#Shortputs #pietrades Sold ROKU June…
#Shortputs #pietrades
Sold ROKU June 22nd 46 Put @.50
DBX
#coveredcall Well having screwed up the position Monday I covered up my now uncovered stock with a June 22 43 call @ .46 this morning. When DBX hit my stop of 38.50 I closed the short call at .18 and sold the stock being filled at 38.10. Who knows maybe it will fall to the 50dma by Friday. Still have some 6/22 31 covered calls. Over all loss was $405. Not one to be repeated ever again.
#shortputs SQ bought July 20,…
#shortputs SQ
bought July 20, 60 put for .64, sold June 8 for 2.40
#butterfly BIDU Followed the young…
#butterfly BIDU
Followed the young Bat July 20, 240/250/250/255 for .42 (bought 240 put, sold (2) 250 puts, bought 255 put), profitable above 244, currently at 262.
#pietrade updates. When the market…
#pietrade updates.
When the market gives you a gift early, take it an don’t ask questions so rolling/closing early and set up new trades.
Ok, so after #pietrades for 15 months straight here is what I have figured out works the best. Need a little bit of timing and a directional bias. Personally use the 4 hour chart as that seems to correlate well with the next week.
Higher premiums = easier to manage.
I am moving towards more ETFs as it gets rid of some of the single stock risk.
My current bull pen has contracted dramatically. Here is what I am trading and only about 3-6 on an every week basis, others are more weekly scalps.
True weeklies: AAPL, EOG, EXPE, IBB, XBI, LABU, FAS, TQQQ, TNA, UPRO, WDC, AMAT, SMH. Even with these I will try to time and do not trade every one every week.
All the others I trade are set up like #pietrades but they may only run a week or 2 depending on movement. LABU is on hold until a pull back. Up 25% in 3 weeks and I am not going to chase it but great premiums and will re-enter when we have even a little pull back. It was in the 80s 3 weeks ago, hit 112 today.
BTC LABU 96 and 92.5 puts for 0.1, 0.15 and 0.15 across 3 accounts.
New trades
EOG STO the next week 115 put for 1.1. Plan to trade this true #pietrade week to week. Has stabolized now that oil is in a range again.
WDC STO next week 78.5 put for 1.13 same as above but its range is now 78-87.5 or so.
FAS STO next week 66 p for 1.18 and will roll week to week.
STO TQQQ next week 61 p for 1.05 same.
Old trades still on
AMAT 51 CC rolled to 49 next week for 0.69 credit. Cost basis 51.54. Few more weeks and should be able to cover the earnings drop.
AMAT 50.5 cc rolled to next week 49 for 0.64 credit. Cost basis now 48.42 so will probably let is close and start over or use a different ticker.
Total income $3147 for the week so not a bad weekly pay check for a vacation week. Now go sit on my hands at the beach, actually can’t sit still that long. Will surf, SUP, kiteboard, windsurf, bike, depending on weather 🙂
Have a great week!
FB
#LongPuts #LongCalls #LongLEAPStraddles #PureProfit – I have no idea how this stock can be so high. I’m not a fan but I will trade it. Working both sides…
Puts:
Bought to Close FB JUN 22 2018 192.5 Puts @ .17 (sold for 5.60)
Out of the 5.60 the last 1.70 becomes #PureProfit in the position. The cost of the LEAP puts has been recovered now. On a 5 lot this should generate some nice income. With earnings coming in late July I’ll continue to sell aggressively.
Sold FB JUN 29 2018 200.0/180.0 Bull Put Spreads @ 2.30 credit. (I expect this to take some heat but that’s alright with call side needing a little pullback).
Calls:
Obviously difficult to stay up with the stock rise on the call side. Using my strategy of rolling up the LEAPS to finance the weekly call roll. This roll is out to just before earnings. Next roll can then be into the high IV of earnings…
Rolled FB JAN 18 2019 180.0 Calls to JAN 18 2019 190.0 Calls @ 6.85 credit
Rolled FB JUN 22 2018 177.5 Calls to JUL 13 2018 185.0 Calls @ 6.57 debit
Covered Calls
#CoveredCallCampaign
Stopped $FB June 29th 200 call for 3.45, Sold for 1.90 on June 1st.
Closed $FB June 29th 185 put for .23. Sold for 2.00 on May 31st
Sold FB July 20th 190 put for 1.60
Sold FB July 20th 210 call for 2.00.
Yesterday, stopped $AAPL July 6th 185 put for 2.85. Sold for 1.70 on June 8th.
Today, closed AAPL July 6th 197.5 call for .18. Sold for 1.90 on June 4th.
sold AAPL July 20th 180 put for 1.44.
Will sell new #CoveredCalls at highs.
AMZN
STC on the open with GTC order 22 Jun 18 1682.5/1692.5 call spread @9.40 with stock at 1743.22….BTO 14 Jun @ 7.80 with stock @1717.16 #supercharger…
#shortputs #postearnings #fallingknife ORCL Sold…
#shortputs #postearnings #fallingknife ORCL
Sold July 20, 42.50 put for .65, down about 3.00 to 43.60
OLED
#SyntheticStock – Just about the last of my old synthetic stock positions. Out to 2019 needing .95 per week to scratch. As this winds down I may add to the 2020 position. Still liking the premium in this.
Bought to Close OLED JUN 22 2018 98.0 Calls @ .05 (sold for 1.15)
Sold OLED JUN 29 2018 92.5 Calls @ 1.15
#shortputs Bought to close my…
#shortputs Bought to close my 44 Put on TWTR @ .17. Sold 6/15 for 0.87. Rolled to 6/29 45 Put for 0.85
Jun 20 Sue Trades
AMZN “vol fly” Price is sliding down the T+1 line slope, so flattened delta by buying 10 shares of stock @ 1750.11.
SPX: #UndieBear I needed a little downside balance against my long portfolio, so here’s the first Undie bear. Bought Aug 2800 put x2 @ 60.50, sold 1x Jun27 2750 put @10.00. The ratio means there is no profit ceiling on a downside move. 20-day historical vol is under 10%, so buying low here. The trade has over 700 vega, any down move and this should explode.
AAL: Abandoned this position due to poor technicals. Net loss $434.00 on a 10×8 #Undie with a couple rolls. This was a July long too, so wanted to get as much salvage value as I could on the long before accelerated decay. This was a Mark Sebastian pick that I followed. At one point it had very nice profit, but I was piggie 🙂
GS: Rolled calls from Jun 22 to Jun 29, 235 to 232. Netted $946 on 5 lot on Jun 22, Jun 29 sold for $1.52x 5. This is another position I’m not happy holding. Earnings coming up in a few weeks, so I’ll collect some additional rolls on this. GS: Added an in-out put bear spread for more short delta: jul 13 230/225 @ 2.36 x4. I like to butterfly these after a favorable move to lock in some profit.
ROKU: Closed #Fundie for target 20% profit, $165 net. Will evaluate a reset. ROKU is dropping off the Fundie list, Ms. Cash and I have a list of about 22 good Fundie candidates, and ROKU didn’t make the cut.
MSFT: New #Fundie in the earnings cycle for a pre-ER price/vol run up. Jul 20 100 c x6@4.05/Jul 6 103c x -4 @ 1.04. Target profit is 20%, $805 (this target might be a bit high).
PYPL: Closed #Undie for $817 profit. I’ve had a couple of these lately where nice profits evaporated. Plus just found out I might be called away from the trading desk temporarily, so decided to TTMAR. It was a 16×13…so had higher risk.
MA: Closed #Fundie for $135 profit….might be called away on an emergency so clearing out a few things. This was a 3×2.
SPOT: Closed #Fundie for same reason as above. Up $540 today, net $70 profit. 3×2.
AMZN supercharger closed for profit
BTO AMZN Jun22 1682.5/1692.5 BuCS @ 7.83. STC @ 9.40
STO AMZN Jun22 1682.5/1682.5 BuPS @ 2.20. BTC @ .40
For the record, the call side closed first by about two minutes.:-)
Options Bistro 