That’s a red day, first chance to look at the market.
So lots of #pietrades are now ITM but still have 3-4 days left. The only one that looks like it needs to covert to CC is MU, down 10 points in a week. Will be quicker to take assignment at cost basis of 58.44 and work it back with calls. Others are still ATM so will let more time value evaporate before doing anything with them. Will update as I adjust.
TWTR #Longstock Stopped out of TWTR at 44.17. Basis 40.99
#VIXIndicator has passed an intraday warning level for the first time since the most recent Warning fired on May 29th. Any close above 17.21 will be another warning… which could also be a capitulation low… hard to tell with these secondary warnings. So far the LOD is the lowest point on the S&P since May 31st.
ROKU #longstock Stopped out of my long stop position at 42.72. Sold June 29th 41 Put @ .55 for a possible re-entry.
#BearCallSpreads – Sold UVXY JAN 18 2019 20.0/30.0 Bear Call Spreads @ .91
#LongCalls #LEAPS – Doing a cautious roll down this week for a possible double dip…
Rolled NVDA JUN 29 2018 260.0 Calls to JUN 29 2018 250.0 Calls @ .90 credit (3.62 total now)
#coveredcalls
ROKU Bought to close June 29 46 call @ .40. Sold last Thursday for 1.28
TWTR Bought to close June 29th call @ .20. Sold last Friday for .50.
Looking to resell them again if or when they go green.
#fallingknife maybe CCL
Carnival Cruise line down almost 10% after earnings
#shortputs #coveredputs FB
Sold June 29, 190 put for .52, short FB stock due to assignment
Sold $ABBV Nov 16 75 puts @ 1.44.
#FallingKnife
#CoveredCalls #IRA – Sold CELG JAN 18 2019 95.0 Calls @ 2.46
GOOGL 1132.5/1130 BuPS 27.00 Profit
AMZN 1682.50/1680 BuPS 32.50 Profit
AAPL Jul 20 195/190 BePS cost 2.44 closed for 3.60 TT Trade
. Took profit
TSLA Had 355/357.5 #supercharger cost 1.85 closed yesterday for .47 Loss 143.00
Still had profit for week.
All done on iPhone in hospital
$SPX 2595/2620 BUPs Thank you @jeffcp66
$NFLX 352.5/357.5 BUPS Thank you @kathycon I know I should have had profit target hit but NFLX zoomed and I extended my stay. Did close the BUCS part of the trade early.
Everyone have a great weekend. Lots of graduations going on. On that subject, I feel I am getting a PhD in trading following all the exotic (to me at least) opportunities. Now to put it to work. Thanks to all.
See you back on Monday.
TWTR #Coveredcalls Looks to have fought its way back up to try and pin at 46. Sold to open June 29th 47.50 call @ .50
#optionsexpiration #coveredcalls
Well Good afternoon all. I’ve rolled or closed all my June 22nd options except these short 31 calls which will be assigned. I’ll make a bit on the stock gains so I’m letting these go and may reload later once it finds support.
Have a great weekend all.
STO SPX 8/17/18 2590 puts
BTO SPX 8/17/18 2570 puts
BTO SPX 8/17/18 1300 puts
1.25 credit.
5%+ on capital
#LongCalls – Almost a scratch…replacing this week’s expiration.
Sold CELG JUN 29 2018 81.0/85.0 Bear Call Spreads @ .34
#LongCalls #LEAPS – Replacing this week’s expiration. Selling 4×5 ratio…
Sold AMBA JUN 29 2018 44.0 Calls @ .67
ROKU #Shortputs Rolled my 46 Puts out to June 29th 46 Put for .70 credit.
#shortputs
$SGH STO 7/20 40 puts at 5.50 Earnings were good but Brazilian currency weak. Business prospects appear good and their forward guidance was mostly positive. Viva la bounce is my thesis.
Joining Fuzzball. I need .17cents per week to pay for this over 82 weeks.
BTO January 2020 67 calls @ 13.734
STO July 6, 71.5 calls @.356
An @optioniceman #FallingKnife trade from 5/8.
Bought to close $WBA Jul 20 57.50 puts @ .o8. Sold for 1.26.
#LongCalls #LEAPS – Same as TQQQ. LEAPS sale price got hit so booking it. I’ll wait and see if weekly 67’s expire (it’s close). I’ve got FAS in three different accounts. I will definitely reset this one to be able to sell weeklies thru bank earnings.
Sold to Close FAS JAN 17 2020 62.0 Calls
All said and done booking 2.53 on a 5 lot. Had zero basis reduction in this one. Fought the short calls the entire time. Perfect time to reset…
#LongCalls #LEAPS – This thing is right up near all time highs and my short calls are (finally) out of trouble. The LEAPS roll up strateegery functioned perfectly here unlocking the profit by getting the short calls out of the way. I’ll take the weekend to decide what to do next….might jump right back in!…LOL
Part of the reason to close this is I had a wild price set to sell the LEAPS (about 75 cents above the mid) and it got filled so closed the short calls that were right ATM.
Sold to Close TQQQ JAN 17 2020 60.0 Calls
Bought to Close TQQQ JUN 22 2018 61.5 Calls
All said and done booking 2.40 per contract on a 10 lot. That’s the second round trip in this thing. Yearly gains pushing 6.00 in the ticker. It’s a fun one!
In keeping with the theme of taking mostly profitable positions off months early, I bought to close $PEP Oct 19 85 puts @ .20. Sold for 1.26 on 5/9.
Besides, drinking that stuff is really bad for you.
Position was probably oversized a bit so I decided to take it off and not wait another 7 months for the last .34.
Bought to close $NUGT Jan 18 2019 64 calls @.34. Sold for 3.65 on 12/26; 4.20 on 1/2; 4.20 on 1/12, 5.00 on 1/24.
My only remaining position in NUGT is a small position, short the Jan 2020 55 calls.
Looking to reload on this if there’s any real follow through to the move up in gold.
#shortputs
$ROKU STO 6/29 46 puts at 2.10 Thank you @matt0311 for the idea.
#spxcampaign
$SPX STO 7/20 2860/2835 BECS at 2.00 Following the maestro @jeffcp66
Closed Better Late Than Never
$SPX BTC 6/22 2725/2750 BUPS at .98 STO at 2.35 on 6/15
$SPX BTC 6/22 2755/2780 BUPS at 14.35 STO at 6.20 on 6/11
#ShortPuts – Leftovers from an earnings trade. I’m booking it with DG up near a double top. Still long with 2019 LEAPS in another position.
Bought to Close DG JUL 13 2018 94.0 Puts @ .45 (sold for 1.95)
#LongLEAPStraddles – On the little bounce got the puts rolled and the new call sold. Unfortunately was very aggressive on the put sales but they are pretty easy to roll while storing some nice premium.
Rolled TSLA JUN 22 2018 367.5 Put to JUL 6 2018 360.0 Put @ .85 debit (total premium now 14.55)
Rolled TSLA JUN 22 2018 350.0 Put to JUN 29 2018 345.0 Put @ 1.90 credit (total premium now 10.45)
Selling against wide bear put spreads in 2020. To give it some more downside breathing room I’m closing one of the shorts in 2020 at a small profit. Will do the same on the call side if we pull back a little further.
Bought to Close TSLA JAN 17 2020 200.0 Put @ 29.60 (sold for 31.52) This becomes part of the basis now…
And finally:
Sold TSLA JUN 29 2018 360.0 Call @ 3.15
On 5/30 I rolled out the June 37 puts to July (with the stock around 34). With the stock’s recovery I decided to take this off for a small overall profit after having been pretty in the red.
Bought to close $CPB Jul 20 37 puts @ .95
Loss on the June puts/rollout: (2.45)
Profit on the July puts: 2.60
Overall profit: .15
I have 2 positions in Nov–short 50 puts and short 60 puts. Taking the 50s off 5 months early for over 70% of the profit.
Bought to close $CVS Nov 16 50 puts @ .32. Sold for 1.20 on 5/8.
#shortputspread ANET
sold July 20, 240/250 for 1.25, ANET is down 8 today.
#supercharger
still trying and making experiences. Today experienced a failure. Opened a FDX trade on 6/20 with expiration 6/29 247,5/252.50 with stock price at 252.50, paid 3.11 with the intention to STC at 4.20. I was aware of being tight but looked for a bounce after the earnings. Today I STC for a 1.02 to prevent going over 2x loss. Not sure what went wrong in my selection, please comment
I lost a significant amount of money on a pre-ER trade in RHT. I opened an Unbalanced Diagonal to try to claw my way back to profit. The chart looks really broken so taking a risk here but hoping to collect some income along the way.
BTO Jul27 140c x3, STO Jun29 146c x2 @ 20.95
#unbalanceddiagonal
#Shortputs BTC my remaining MRVL 22 Put @ 0.98. There is too little premium in the weekly calls to justify holding this position. The assignment fess will eat most of any potential profit now.
#pietrades FAS
Rolled June 22 68 Puts out and down to June 29th 67 Puts for 0.61 credit
#shortputs #rolling KR AMAT
KR bought July 20, 28 put for .31, sold March 13 for 2.82
AMAT rolled June 29, 54 put to July 20, 54 put for .10, AMAT is around 48, not being a very good friend
Sold $RHT Dec 21 100 puts @ 1.10
#LongLEAPStraddles – I’ll be rolling some puts and re-selling this call later today…
Bought to Close TSLA JUN 22 2018 370.0 Call @ .05 (sold for 3.00)
#pietrades
ROKU rolled my Jun22 SP 46 to Jun29 and collected some much needed extra premium of 79 Cents
#SPXcampaign Sold $SPX July 19th 2835/2860 call spreads (monthlys) for 1.90.
STC January 2020, 84.87 calls and BTC July 20, 86 calls for a credit of 18.30 and just wanted to reduce my exposure as well as take a profit 8.78 points. I decided that my exposure with the 115 calls in 2020 was enough.
SPX: The first trade I got off at the open was a new #UndieBear Aug 2785p x2 @52.00 Jun 29 2750p x -1 @ $10.80. No profit ceiling on a downside move.
CVX: Rolled calls into strength from jun 22 to jun 29, netted $330 on roll of 3 calls. Jun 29 126 @ 1.68.
IWM: I have a #Saf-T on this with short calls at 168.50…so dancing around the roll on this to get as much premium collection as I can.
LMT: The bulk of my calls were rolled on Wed, but I have two stragglers that I will let expire and sell new near the close (naked for an hour).
Oh, RHT: I got cute on the dive last night and bought 100 shares @ 150 expecting a snap back. So now I have a #CoveredCall . Sold Jun 29 $150 call for $1.10.
That’ll be about it for today.
Sue
IWM rolled Jun 22 168.5 to Jun 29 168 (went down, itm). Netted $494 on a 13-lot.
I ended up keeping 82% of premium sold for this week: Collected 17,917, kept 14,722.
Oh, almost forgot. The #Fundie maybe not so bueno. Rolled down calls for jun 29 on NVDA/ADBE/BABA to collect some add’l premium for next week. Kept same expiration.
#ContangoETFs. $GUSH moving up in pre-market, above 40 again.
Friday will likely be the year’s biggest stock market volume day with big action in Apple, JP Morgan –
https://www.cnbc.com/2018/06/22/russell-rebalance-will-make-friday-the-years-biggest-stock-volume-day.html
FYI
RHT is down about 12% in after-hours trading.
MED down 12%
STMP down 10%
TUP down 9%
SHOP had a pullback of 4%
#shortcalls
Rolling
$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
#longcalls
$ALRM BTO 7/20 40 calls at 1.40 Stock downgraded by GS.
#shortputs
$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
Rolling
$SQ BTC 7/6 58 put and STO 7/6 65 put for added 1.00 credit
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.
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.
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.
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.
AMZN and NVDA are not working well today for my #bullputspreads. I am always having difficulties with spreads vs. naked puts.
How do you manage your spreads, do you let them run, because of capped loss, or do you close them at 1-2 times the premium received?
I have
NVDA Jun22 -257.50/+252.50 sold @ 0.63
AMZN Jun29 -1690/+1680 sold @1.00
What is your approach?
#ShortPuts #IRA – Thanks @tabortrader for the reminder. Adding to my ladders…
Sold EWZ DEC 21 2018 30.0 Put @ 2.51
Sold EWZ JAN 18 2019 29.0 Put @ 2.24
Sold EWZ JAN 18 2019 28.0 Put @ 1.87
Driving across I76 toward Denver listening to all my rowdy friends have settled down sold Oct. 24 call for 4.95, bought for 2.40,currently unhedged by chance only, KR up big after earnings
#ShortPuts
STO 17Aug 31 put @ 1.25 shares at 32.01. Idea from Dr. Data, TT, EWZ down 31% from Feb highs…
ROKU #coveredcalls Rolled my June 22nd 44.5 call out and up to June 29th 46 call for .10 credit.
I’ve been eyeing the LABU chart as many of you trade it. Decided to dip my toe in with a fuzzy because I can more easily limit my risk.
BTO LABU Jul20 110c/110p/107p (1,-1,1) @ 6.20. Sold Jun29 115c @ 2.15.
#fuzzy
#CoveredCallCampaign. Sold $AAPL July 20th 195 calls for 1.37, rolling from yesterday’s stopped put.
Stopped $TQQQ July 6th 64 calls for 1.80. Sold for 1.35 on June 13th.
Sold TQQQ July 13th 60 puts for 1.45
Sold $SQ July 6th 66.5 put for 1.43
Stopped $PYPL July 6th 87 call for 1.56. Sold for 1.15 on June 5th.
Sold PYPL July 20th 83 put for 1.18
Selling calls in TQQQ, SQ, and PYPL the they get a little higher.
#BearCallSpreads – Sold UVXY JAN 18 2019 15.0/25.0 Bear Call Spreads @ .99
On pullback, added Fundies in FB, PANW, SSO, TNA, TQQQ, XLY. Jul20/Jul6 3×2, 63/45 dte.
Converted BA and DIA from unbalanced long diagonals to bear call spreads. Charts are broken. Attempting to get back to even.
ILMN Supercharger closed for profit. STC ILMN Jun22 275/280 BuCS @ 4.70 (2). Bot @ 3.91
#fundie
#unbalanceddiagonal
#supercharger
I was thinking about these and am not sure which is the best strategy so here is my idea. Take the TQQQ and LABU which IMHO, the long term trend is up. Since that is the case, should one try for the most premium or just enough to cover the cost of the leaps by the expiration. SO I am going to try both in LABU.
I have bought the 2020, 84.87 leaps at 27.15 and sold the short calls for 8.80 out to July 20, but I am short the 86 calls and now need to keep rolling them but, it is hard to get a better strike price and premium.
Today, even though my timing was horrible, I bought the 115 call and sold the June 29, 129 calls for .83 cents which is just enough to cover the weekly . I will try to get a better strike each week and if the long term trend remains up, I should make nice profit faster than the first trade.
#LongCalls #LEAPS – I’ll jump in this with you guys. Premiums decent and earnings not until mid August.
Bought AMAT JAN 17 2020 50.0 Calls @ 7.70
Sold AMAT JUN 29 2018 50.0 Calls @ .49
Payoff by Jan 2019 and Jan 2020 is .25/.09
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.
#ShortStrangles – One of two positions in this one. Selling short term calls against long term short puts. A welcome pullback today for a nice roll. Earnings not until late August…
Rolled ADSK JUN 22 2018 135.0 Calls to JUL 20 2018 139.0 Calls @ even
#LongCalls #LEAPS – Been in it awhile and not a fan. Breakeven is the goal here. Selling carefully at about a 70 percent ratio to the long LEAP calls. Been caught in a couple whipsaws in this thing already…
Bought to Close GLD JUN 22 2018 122.5 Calls @ .01 (sold for .32)
Sold GLD JUL 6 2018 121.5 Calls @ .49
BTO June 29, 1150/1160 bull call spread @ 7.35
#coveredcalls Bought to close my June 22nd 48 Call @ .03. Sold yesterday for .35. I will cover with June 29th call if there is a bounce. TWTR looks to be forming a high base. Day 6 in this range. Volume has tapered off after the breakout.
BTO January 2020, 115 calls @ 33.54
STO June 29, 129 calls @ .83
I need .40 cents per week to break even. Even though I am getting good premiums on the short dated calls, I find that I am missing out on the gain in the leaps and am not getting much premium on the rolls.
MU STO 59.5 put at 1.06 for next week.
Last trade until next week.
One more note on #pietrades. I have moved 60-80% of my portfolio to true #pietrades. 20-35% is one time opportunities and usually a #pietrade type scalp or earnings play or a #fuzzy, and 5% true speculative. I am trying to create and income replacement machine and seems to be working. Just need to avoid big losses like SVXY.
#Earnings. Due to my travels I wasn’t able to post this yesterday, but I sold $MU June 22nd 56 puts for .87, closed this morning for .04.
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.
BTO Jun 29 1165/1167.5 Calls 1.96 2x #supercharger
Options Bistro 