#OptionExpiration June 29th
Taking Put assignments this week
DBX @ 33.50
FAS @ 67
MU @ 59.50
ROKU @ 46
TWTR @ 44 and 45
One Call expired
NUGT @ 26
Selling calls come Monday.
Have a great weekend.
Daily Archives: Friday, June 29, 2018
#pietrades Looks like I am…
Looks like I am being assigned or assigned early on TQQQ, FAS, MU, and will sell calls on Monday. This morning’s bounce looked like it would make these a lot easier. We have comcast at work and entire east coast internet was out which made work hard with an EHR. Looks like the bounce fizzled later afternoon.
Anyway, for those with big accounts, you can take #pietrade one step further. If I had bigger accounts I would do this. The decay is great on weeklies, but weeks like this they all tend to get run over at the same time. I personally would run 3 different names in each account and since I have 5-6 accounts that would give good diversification. My ultimate goal is to sell #pietrade ladders. Start the process 21 DTE. Each week add a new trade in the same 3 names. But for example using XBI. The 7 day ATM put is going for 0.77-.99 (95-96 strike) so can’t even get a buck. But if you go out 21 DTE you can sell the 92 put for 1.03-1.10. Three more dollars OTM so less likely to be breached and if you are breached probably at a better place to take assignment because it is a much bigger pull back. The only draw back is you are in the trade 2 more weeks and tying up capital.
But if your goal is income and you have a large enough account, it would be highly effective. I have tried it on small scale and whenever I was assigned they ended up wining in 1-2 weeks because it was usually at the end of a pull back. I could only run 3 contracts on 1 name or 1-2 contracts on 3 names. So it was not bringing in my income goal but when the accounts are larger this will be my main trading tactic.
Ultimate goal is 10 contracts on 3 names in each account for 3 weeks rolling. If you can get $1.00 or better that would be $3000 a week x however many accounts you have. Nice paycheck either way 🙂 To do that probably need a 300k account if using margin or twice that in a non margin account. You would also need names around $100.
Have a great weekend, update which calls I sell on Monday. If looks like more of a rebound I may leave them uncovered for a few days.
Expiration Taking Assignment of ROKU
#assignment
$ROKU 6/29 46 put assigned. Basis 43.90 Today’s close 42.60
Have a great weekend.
#spx I guess the sellers…
#spx
I guess the sellers are stronger than the buyers at this time.
Financials did not perform even with the Fed approval and stress test.
Canada imposed new tariffs.
Is that driving the market?
Stall
#Markets… looks like major indices will be closing lower than the open….
MU calls, STZ puts closed
#Earnings #PieTrades
Closed $STZ June 29th 220 puts for .65, .45, .20, and one left. Scaling out of my naked puts over the day. I also have some spreads, but I think we will close above 220. Watching closely to avoid assignment.
BTC $MU June 29th 52.5 covered Call for .15 to avoid assignment. Sold for .80 on Wednesday. Trying to sell a call for next week.
#shortputs ORCL DVN DVN June…
#shortputs ORCL DVN
DVN June 12, sold July 13, 40 put for .88, bought today for .22
ORCL June 20, sold #falling knife July 20, 42.50 put for .65 after earnings drop, bought today for .22
SPX Trades
STO aug 3 2525/2625 Credit Spread (BUPS) 7.20 CR when ES was coming off its lows..
BTC Jul 25th short 2625, @ 10.60, prev sold at 14.20..Took a 25% gain as ES Touched the R2 Pivot at its HOD
Resold the Same Short Put for 10.40, to collect another 20-30% profit as SPX moves higher after the gap open and bounce at the 100ma…
TQQQ
In my IRA, rolled the July 20, 57.67 calls to August 3, 58.50 calls for a credit of .10 cents.
This is against my 2020 calls at the 55 strike.
ROKU #Shortputs #PIETrade BTC June…
ROKU #Shortputs #PIETrade BTC June 29th 41 Put @ .05. I will sell a July Put later today unless I get distracted with nonsense.
CELG saga continues…
#LongCalls #CondorRoll – Of course I was a day early on my CELG sale for next week…LOL. Stock has started out strong today and looks to finally be heading back up (for now). I’ve been lucky so far selling just above this base but figured it would pop out eventually. For safety, I’m rolling the short call spread out a couple weeks to a skewed narrower iron condor. Playing it slightly bullish. I’m now in the expiration month of my long calls so we’ll wait and see where this ends.
To mange it I can roll the untested side (short only probably) for extra premium.
Bought to Close CELG JUL 6 2018 79.5/84.0 Bear Call Spreads @ .94
Sold CELG JUL 20 2018 74.0/77.0/83.0/86.0 Iron Condors @ 1.03
Originally sold the BeCS @ .37 so with the roll credit the condor is worth .46
OLED covered calls
I was assigned stock last week from short 100 puts. With good premium at that strike I decided to sell calls in August.
Sold $OLED Aug 17 100 calls @ 2.45. With the put premium it would be a profit of 4.19 if I get taken out at 100 in August. I’ll gladly take that considering how much this stock has dropped over the last couple of weeks. Delta is 25 so the chances are pretty good that I’ll continue holding it though.
SPX calls sold
#SPXcampaign Selling this under my normal strategy as it is set to expire at the start of my trip. Depending on the number of positions I have, I plan to sell some spreads through the vacation, keeping it manageable.
Sold $SPX July 27th 2825/2850 call spreads for 1.85
Options Bistro 