#fallingknife, #shortputs FYI RHT is…

#fallingknife, #shortputs

RHT is down about 12% in after-hours trading.
MED down 12%
STMP down 10%
TUP down 9%
SHOP had a pullback of 4%

#coveredcall, #pietrade

Rolling IQ TWTR FB Calls / ALRM Long Calls / ALRM WYNN TQQQ KEM Short Puts / Rolling SQ Puts

$IQ BTC 7/20 25 calls and STO 7/20 40 calls at 11.50 debit
$TWTR BTC 7/20 40 calls and STO 7/20 44 calls at 3.00 debit
$FB BTC 1/2019 190 calls and STO 1/2019 205 calls at 8.50 credit
$ALRM BTO 7/20 40 calls at 1.40 Stock downgraded by GS.
$ALRM STO 7/20 37.50 puts at .85
$WYNN STO 7/13 167.50/172.50 Thank you @kathycon
$TQQQ STO 7/13 80 puts at 2.12 Thank you @jeffcp66
$KEM STO 7/20 24 puts at .80
$SQ BTC 7/6 58 put and STO 7/6 65 put for added 1.00 credit

MU #ShortPuts #PIEtrade Joined to…

MU #ShortPuts #PIEtrade Joined to group. Sold June 29th 59.5 Put @ 1.25 when Mu was at 60.23.


#LongCalls #LEAPS – I’ll jump in this with you guys. Premiums great so can’t get hurt too bad even with that big ‘ol red bar today. 40 percent size here for a starter.

Bought LABU JAN 17 2020 110.0 Calls @ 31.00
Sold LABU JUN 29 2018 112.0 Calls @ 2.45

Payoff by Jan 2019 and Jan 2020 is .98/.25

Playing this as my standard entry for first two weeks. Sell max calls and roll if negative deltas are reached. If negative deltas reached a second time then book it.

VXX call spread

Borrowing a trade from TT (Nick) but I went a strike higher on the spread. Sold $VXX Jul 20 36/41 BeCS @ 1.00 with VXX at 34.81. Being that this is the July expiration, it should decay rapidly when volatility starts coming back in.

Jun 21 Happy Summer!

1. SPX #UndieBear I just took $1290 profit in one day. This is a highly responsive trade to the combo of vol increase and price decrease. Market Profile is showing a developing 45 degree line for today, meaning folks are getting short in the hole. So decided to take profits. (Whoops scratch that on the 45 degree line, it looked like it was holding as support, but it broke)

2. Was at the hospital all day so took off the AMZN “vol fly” at the open so I wouldn’t have to manage it. Saw an $88 loss. I slipped in the close order before the drop in AMZN…it would have been fine in my fly range, but would have had some short term pain on it.

3. New AMZN trade: AMZN/XLY #DoubleRatioUndie AMZN is too expensive to double-undie, so I’m using XLY as a proxy for the put side. AMZN: Aug 1700c x2@106.15/Jun 29 1745c x-1 @19.30 XLY Aug 113 p x10 @2.93/June29 111p x -8@.63. The XLY side removes about 20% of the risk on the AMZN side.

4. TQQQ roll #Saf-T : Rolled Jun 22 to Jun 29, netted $4660 on the Jun 22’s. Rolled same qty but dropped to 62.5’s for 1.38.

5. Added an MU #DoubleRatioUndie at the open this morning: Sep 57.5c x10 @7.65/Jun 29 62c x -8 @1.39, Sep 62.5p x 2 @5.35/Jun 29 60 p x -1 @1.15. Max loss about $4800, gain at $62 next week is $1302. Premium sold for next week = 16% of risk.

Only two things left to manage tomorrow: CVX and IWM.

TSLA battery draining

If you like charts this looks like a bearish development on the daily. Stock down almost 15 points, about 4%. If it closes below Tuesday’s low of 346.25, which is near the S2 pivot point (stock currently at 346.95), I think the next stop could very well be the 200 day moving average, currently around 323.