BTC DIA Jul13 245c @ .20. Sold @ 1.61
STO DIA Jul13 242.5c @ 1.97
BTC SSO Jul6 113c @ .20. Sold @ 1.18
STO SSO Jul13 111.5c @ 1.46
Core long positions lost the ground they gained yesterday but nice to collect and keep some premium.
#shortcalls
#unbalanceddiagonal
#coveredcallcampaign LUV
Tradewise recommendation last month, today I bought August 17, 52.50 #coveredcall for 49.83, 51.69 and 1.86
BTC Jul6 53.5c @ .20. Sold @ 1.24
STO Jul13 51.5c @ 1.40
Things are getting sloggy going into the close.
#shortcalls
#unbalanceddiagonal
BTC July 20, 90 puts @.05 covering over 2 week early. Because I am doing leaps and selling short calls, I am letting a lot of these put just run off.
#fallingknife maybe TSLA
40 point drop in the last 2 days (making me happy-for now)
Bot Jul20 310c @ 1.94.
GTC order to sell at 80% profit or will sell the day before the earnings report whichever comes first.
LMT has had a rough patch the last couple months so it may be riskier than usual to take a pre-earnings momentum trade. However, it has the best CML study results of all the pre-ER trades I’m following. Excellent returns on entering trades 14 days, 7 days, or 3 days (any day for that matter) before the report. All study results are based on exiting the trade before the report. There is no earnings risk on these trades.
Rolled DIA Jul6 242c to Jul13 245c for .76 debit. Short call had no more extrinsic value and this gives me another $3 of breathing room for next week.
I rolled my July 13, 67 call to July 20 68 call for a credit of .14 cents
#LongCalls #LEAPS – A couple minor adjustments. Have to say the whole ratio thing is working great. No upside risk at all even when the short calls get a little underwater.
AMBA:
Rolling down and in to get out of these sooner allowing an extra week of sales.
Rolled AMBA JUL 20 2018 43.5 Calls down and in to JUL 13 2018 41.0 Calls @ .02 credit
LABU:
Rolled LABU JUL 6 2018 88.0 Call to JUL 20 2018 90.0 Call @ .11 credit
#coveredcallsSold ROKU July 13th 47 calls @ 1.00 when stock was at 45.33
#coveredcalls
Sold MU July 13th 56 call @ .70 when MU was at 54.13
#Shortput
TQQQ Sold July 06th 56 Put @ .45. The 50dma is at the 56. TQQQ was at 58.22
Yesterday, I bought two NFLX calls to play the runup into earnings. The 20 delta call sold at target this morning.
STC NFLX Jul20 440c @ 7.40. Bot @ 5.30.
Rolled my July 6, 97 calls out to July 13, 98 calls for a credit of 1.51
First #pietrade 24
EXPE 24 DTE 115 put sold for 1.90. This is heading into earnings but will probably roll or close before then.
These work great but always looking for ways to improve on tactics. Improve returns, success rate, less adjusting because adjusting costs money or delays profit taking. I am not greedy, just trying to figure out what works the best with the least amount of work or adjustments.
So I have been experimenting with this on a limited basis. Instead of starting #pietrades with only 4-8 DTE, go out about 3 weeks. Split the distance between tasty trades recommended 45 DTE and the 1 week for classic PIE trading This does 4 things. Gets you farther OTM, collects higher premiums, but stays on the steepest part of the decay curve, and allows quicker recycling of capital. Also most will be rolled or closed before full expiration. My limited experimenting with them shows most are closed or rolled within 2 weeks of opening.
I don’t think we need a new hashtag, they are still in the PIE realm. Maybe just add a 21 to it if you post it, so 21 #pietrade or #pietrade 21 or however many days until expiration.
So I am looking at 3 possible this morning. EXPE, VLO, AXP. Will post once I see where market opens. Also on vacation week of 7/14-21, be out in @smasty160 country so a perfect time to start a few of these as I will not be trading that week.
As the time value erodes, would then roll each week in same name if you still like the ticker or move to new positions as the market oscillates.
Will keep posted on how they work real time and on a larger scale.
Options Bistro 