#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