I am out of all my bullish trades on this ETF. I picked up nice premiums and rolled for better strikes as well. Nice to be in cash right now. About 63% cash and still have a bearish trade on the TQQQ which I am under water on. I think it will be okay as I only need .25 cents per week and the expiration is in January 2019. There are a lot of good traders here and thank all of you for great ideas as well. Now if we could get the TQQQ down to the $40 level I can get back in.
Also, thanks to these trades I have made back 50% of my loss on the SVXY so far.
Daily Archives: Monday, July 30, 2018
@fibwizard What is your take…
@fibwizard
What is your take on the market today? I’d love to know what you see on the NDX and SPX charts.
Adding a WDC position
Sold $WDC Jan 18 2019 55 puts @ 1.30.
I’m now short this ladder:
Oct 60 puts
Jan 60 puts
Jan 55 puts
Rolling up BIIB
Wanted to write some puts on this but I’m being a lot more disciplined these days about position size. So I’m just rolling up to a higher strike (13 delta) for a 4.00 credit instead of adding risk.
Bought to close $BIIB Jan 18 2019 220 puts @ 1.20. Sold for 3.70 on 6/18.
Sold to open $BIIB Jan 18 2019 270 puts @ 5.20.
IWM QQQ XLY risk twist
Opened some of DK’s famous risk twist trades. Typically, you put these on when the market is soaring in preparation for a downturn. In my case, I’m adding to the short side based on the downturn already in progress. Maybe too late.:-)
BTO IWM Bfly Sep21 164p/-156p/154p @ 1.61
BTO QQQ bfly Sep21 175/167/165 PUT @1.85
BTO XLY bfly Sep21 109/104/103 PUT @.85
#ShortBrokenFly
WYNN pre-earnings
Sold WYNN Pre-ER Aug3 167.5c @ 2.70 for 4% loss. Bot @ 2.80.
Sold early due to market weakness. Loss is minimal at this point so want to keep it that way. This is the last round of WYNN for me this quarter. Previous rounds 93%, 20%, 10%, and -2%.
#preearnings
Closing PM
Bought to close $PM Sep 21 75 puts @ .28. Sold for 1.70 on 4/19.
#pietrades In 2 separate IRA…
In 2 separate IRA accounts, small size
TQQQ buy writes at 59 and 60 cc for 58.69 and 57.95 debits.
Found an adjustment to these that will help returns. For IRA and other tax deferred account will be doing more buy-writes and straight covered calls, often ATM or a few strikes ITM. Will roll if at or near the money. If deep ITM will let assign and reset the following Monday.
For margin accounts will usually start with a put sale (better margin rates than cc) and then if assigned convert. That little tweak looks like it will be worth several extra percentage points over the course of a year. Also less holding through weekends when harder to adjust trades.
As of now looks like WDC will assign this week at 75 with a cb of 73.71 so will convert to CC next week.
Earnings adjustments
Keeping some upside risk but also adding some risk to the downside.
Sold LRCX Aug17 202.5 calls @ 1.15 against long post-ER 200 calls
Sold NVDA Aug17 277.5 calls @ .97 against long pre-ER 275 calls
Sold GOOGL Aug10 1282.5 calls @ 4.4 against long post-ER 1280 calls
#earnings
#Coveredcalls. Out for the morning….
#Coveredcalls. Out for the morning. Came back to more selling. Closed NUGT 8/03 24 C @ .04, ROKU 8/03 49 C @ 0.13, DBX 8/03 33 C @ .03. All for small profits which off set the DOCU puts below.
#ShortPut Bought to close DOCU 8/17 50 Put @ 2.02. for a 0.87 loss. Violated my Alert on the Puts at 2.00.
TWTR Falling Knife
I’ve never been a huge fan of this stock but now that it’s a member of the S&P 500 I’m gonna take a shot with some far out of the money puts.
Sold to open $TWTR Dec 21 22 puts @ .56-.57. Delta is 10.
Non-directional trades
Buying straddles and strangles in my favorite index/sector ETFs: DIA, FAS, IWM, QQQ, SPY and XLY.
Also only taking non-directional post-ER trades until the turbulence abates.
#strangles
#straddles
Closing CAT
Closing this for a .92 loss. Bought to close $CAT Aug 17 145/155 BeCS @ 3.14. Sold for 2.22 earlier.
AMZN
STO August 10, 1680 puts @ 5.50
BTO August 10, 1670 puts @4.20, converted this to a spread.
#shortputs #closing TRTN June 19,…
#shortputs #closing TRTN
June 19, sold an August 17, 30 put for 1.00, July 11, sold an Aug. 30 put for 1.35, bought them today for .40, earnings this week. I still have Oct. 35 and 40 rolled puts and 101.73 shares.
PYPL Jan
Sold $PYPL Jan 18 2019 67.50 puts @ 1.27 with the stock at 82.77. Delta 13.
TRTN #CoveredCalls STO 2 Oct…
TRTN #CoveredCalls
STO 2 Oct 19 35 covered calls @ 1.75, half position, CB 35.45. Looking for at least one more div distribution. Shares up 8.36% on Barrons positive article that trade war affecting container biz is overstated. Earnings Aug 3 BMO, see which way this goes before placing balance of option contracts.
AMZN Iron condor
STO 1900/1920 calls and STO 1680/1700 puts For a credit od 1.33 for August 3 expiration.
TQQQ
BTC August 3, 63 calls and sold My 2020 60 calls for a credit 15.20, I am still working on the rest of the trade but it will be a nice profit when I close out the rest of the trade.
AMZN put spread
Sold $AMZN Sep 21 1700/1680 BuPS @ 4.50.
Is this sell off being…
Is this sell off being caused by SPX rebalancing???
CAT call spread
$CAT ran into resistance this morning on the move up after earnings. Sold Aug 17 145/155 BeCS for 2.20.
Options Bistro 