fuzzballl 9:47 am on Thursday, July 5, 2018
Tags: LongCalls ( 495 ), LongLEAPStraddles ( 27 ), LongPuts ( 144 )

FB

#LongPuts #LongCalls #LongLEAPStraddles – Had been playing this one from both sides. The bounce today gets the overall position back to zero deltas. Since it’s only out to 2019 this is probably a good place to book it. Call side struggled a little but put side was great.

Sold to Close FB JAN 18 2019 190.0 Calls
Bought to Close FB JUL 13 2018 185.0 Calls

Sold to Close FB JAN 18 2019 160.0 Puts
Bought to Close FB JUL 20 2018 195.0 Puts

All said and done made 83 cents per contract on this wild experiment. (10 lot….5 each side)

jsd501 12:17 pm on Thursday, July 5, 2018

Aside from this trade, I consider you to be a genius for suggesting the long calls against the short calls. It strikes me that as long as the index is going to be in business, you can roll for years and get a better strike price or more premium and sometimes both. it is what I plan to do with the TQQQ. And when the 2021 calls are listed I plan on rolling into those as well.
- fuzzballl 12:57 pm on Thursday, July 5, 2018
  
  Thanks for the compliment but….let’s see how it plays out over the next 18-24 months. So far it seems to be going according to plan with only the occasional unforseen land mine but we’re getting better at these all the time.
  
  I closed the FB since it was one of my few reamaining “non ratio” positions. Still dealing with PYPL, SMH, TNA, XBI, and XLY as 1×1 sales. May possibly be rolling the LEAPS up again in some of these to finance getting the calls to safety. Then, as the calls bleed off book the whole thing and start over. I’ll definitely be at some sort of a ratio from now on to reduce upside risk.

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