$fuzzballl
Is there a secret to getting back on track when a short call gets run over?
ERX as an example. It appears that every time I sell or roll a call against my 2020 Leaps the market takes off, glad these are ratio’s although the negative numbers keep adding up.
Monthly Archives: July 2018
Expiration / Close SPX Campaign Early / Short Puts FB
#optionsexpiration #spxcampaign
$SPX 7/25 2725/2750 BUPS
#spxcampaign
$SPX BTC 8/3 2885/2860 BECS at 4.15 STO on 7/24 at 1.85. With GDP expected tomorrow at 4% I decided to close.
#shortputs
$FB STO 8/17 160/170 BUPS at 2.45 Thank you @ramie77
$FB STO 8/17 155/165 BUPS at 1.70
Taking it easy
Only trades today were GTC orders to close $BIIB July 27th 300/415 #Earnings strangle. Closed each side for .20; sold on Monday for 2.40.
Other than that, looks like I’ll be long more $FB stock tonight or over the weekend (a couple 197.5 puts and one 200 put).
I’m planning to execute few if any trades until August 9th. We are staying with my wife’s parents in Yokohama until then, and we’ll be touring the country and climbing Mt Fuji. On the 9th, we check in to a Tokyo AirBnB for another two weeks, and then I’ll start transitioning back into the job. We return to Portland on August 23rd.
Glad to have all your posts to read when I wake up! Let’s me know what’s happening out there.
GOOGL and MU
BTO GOOGL 10 AUG 18 1245/1250 BuCS @3.95 GTC order @4.70. Now have Aug 3 and Aug 10 positions. #supercharger
STO MU 3 AUG 18 52 PUT @.60. #pietrade
#fallingknife #closing #shortputs ALK Some…
#fallingknife #closing #shortputs ALK
Some airline stocks are skying today, including Alaska air up almost 10%, Tuesday I sold a January 50 put for 1.45, bought today for .80. Thanks @Iceman
#fallingknife MHK has decent premium…
#fallingknife
MHK has decent premium in Jan 140 @ 2.40
Any takers?
TWTR
#Earnings – OK…after this TWTR should be trading about 15 dollars tonight. 🙂
Sold 38.5/42.5/46.5 Iron Flies @ 3.27
Risking 73 to make 327 needing just slightly less than the expected move…
SPY Hedge
#Hedge – With the hedge subject being discussed here’s what I did based on last nights Theo Trade free update video. Playing SPY both ways for minimal cost but still very nice protection. He says max risk is what you paid for the position but it looks like there are small pockets of slightly greater risk if held all the way to expiration. I’m not 100 percent sure I’ve got the risk graph configured properly. I also moved the strikes up a little from the video.
#earnings #shortputs CMG Sold Sept….
#earnings #shortputs CMG
Sold Sept. 19 380/390 for 1.27. CMG can move 50 points after earnings faster than you can be charged 4.50 for a small scoop of guacamole.
#earnings #shortstrangles TWTR Sold August…
#earnings #shortstrangles TWTR
Sold August 17, 35/50 strangle for 1.54, outside the expected move for tomorrow.
AMBA AZO ERX FAS OLED PYPL
#LongCalls #LEAPS – Some rolls and adjustments….these are all ratio’s except for AZO which is a trade repair from an old strangle that I’m working.
AMBA:
Bought to Close AMBA JUL 27 2018 41.0 Calls @ .05 (sold for .62)
Sold AMBA AUG 3 2018 40.5 Calls @ .50
AZO:
Rolled AZO JUL 27 2018 662.5 Call to AUG 10 2018 665.0 Call @ .31 debit
Stock was up big on ORLY earnings earlier. We know how that worked out last quarter 🙂
ERX:
Rolled ERX JUL 27 2018 37.5 Calls to AUG 3 2018 38.0 Calls @ .15 credit
FAS:
Rolled FAS JUL 27 2018 65.5 Calls to AUG 10 2018 66.0 Calls @ even
OLED:
Rolled OLED JUL 27 2018 91.5 Calls to AUG 17 2018 95.5 Calls @ .13 credit
PYPL:
Using the earnings weakness to roll and reduce the ratio. Should pay off on the next bounce…
Rolled PYPL JUL 27 2018 85.0 Calls to AUG 17 2018 85.5 Calls @ total debit of $75.00 (reduced from 8 to 7)
TQQQ
#ShortPuts #IRA – Clearing out a little more to make room for the next implosion…these are the post-split numbers.
Bought to Close TQQQ JAN 18 2019 16.67 Puts @ .15 (sold for 1.07)
#shortputs #pietrades T Sold Aug….
#shortputs #pietrades T
Sold Aug. 17, 30 put for .52, T is at 30.40 had drop after earnings.
Recent ALGN/LMT/BA trades
ALGN from yesterday is up $475.00 but the market makers make exit on this a little hard, so I need a little more to cover the exit slippage.
LMT: This is currently up $180, target around $250.
BA: This is currently up $284, target is $350 for closing.
What are the types hedge(s)…
What are the types of hedge(s) to protect a losing option(s). The ones to get while the market is open, and ones after the market close. A detail explanation would be great not for me but for our group.
PYPL
Opened first layer of PYPL post-ER. Bot Aug10 strangle 93c/87.5c @ 1.76. Historical data shows that PYPL makes a big move after earnings but is fickle about direction so we play both sides here.
#earnings
Well I’m still in the…
Well I’m still in the AMZN trade. It just will not close. Any other suggestions.
BIIB is down 10% (-$40)…
BIIB is down 10% (-$40) after their drug for treating Alzheimer did not show good results.
#optionsexpiration maybe, have 2 earnings…
#optionsexpiration maybe, have 2 earnings plays that may not cooperate after the close today.
MU 55 cc rolled yesterday for 0.44 credit. CB now 55.79. 2 more rolls should put it in the green. Decidied not to #fuzzy it yet since so close to breaking even.
WDC 75 expires next week. Earnings today. Up 1.23 to 76.87 as of this writing but has been bouncing around all day.
EXPE 115 put expires tomorrow. Earnings today. Currently at 127.38 but it can move much more than that on earnings.
FAS 65 CC will let assign tomorrow. cb 63.10 so 1.9 profit on each 1 lot.
TQQQ 59 cc will let assign tomorrow. 57.80 cb so 1.2 profit on each contract.
AMAT Lot 1 cc at 47 rolled to next week for 0.38 credit. cb now 50.17. A few more weeks should be able to scratch it.
Lot 2 47 CC rolled for 0.41 credit. Cb now 46.99 so in the green after the earnings play went south.
XBI 87 Jan 2019 and next week 96.5 cost basis 9.72. Looking good at the moment but still a lot of time value in the short options so will roll next week or close for profit. In that case may re-establish new range.
Only made $708 total last week while on vacation but not bad for out having fun, the previous week was awesome so no complaints. But that confirms to me trading weeklies definitely brings in more cash if you are income trading than selling longer dated options. The weeklies also give faster compounding. However, I will be doing more 21 DTE #pietrades going forward, they need a lot less adjusting and my core account is finally big enough again to run 3 names for 3 weeks each.
On the smaller accounts (under 10k) mostly #fuzzy or variations.
UNP
After a failed short term #fuzzy #syntheticstock in Jan 18 with a loss of $144.00 per contract I tried for redemption in April 18 with a BTO Jan 20 135 call @18.45….With my previous loss rolled in and 92 weeks to go I needed $0.22 per week to cover…After 8 short call sales including 2 debit rolls and today touching negative delta I choose to close the position for a net gain of $178 per contract. Not earth shattering but I will take it.
QQQ
BTO QQQ Jul 27 179.5 put .73
insurance for a AMZN dump.
Sorry
EA Earnings
Ratio Straddle Time Spread
STO 143 Straddle @ 7.95 x8 BTO 143 Aug 3 straddle @ 8.83 x10. Sold 93% vol, bought 49% vol. Ave vol crush is 8% on EA.
#shortputs #earnings #shortstock FB I…
#shortputs #earnings #shortstock FB
I am short 100 shares of FB, assignment at 175 but a basis of 186 so I’m going to be happy even though I sold a 185 put that expires tomorrow.
Followed Ramie with a 160/170 Bups for 2.14, also sold Dec. 140/150 BuPS for 1.57
FB falling knife
Bot FB Aug3 175/180 cds @ 2.40. Looking for a dead cat bounce on FB.
#fallingknife
FYI LVS is down 5%
FYI
LVS is down 5%
EFX is down 4.5%
FB puts
STO January 125 puts @1.33
STO January 120 puts @1.00
LABU
Rolled August 17, 103 calls to August 24, 104 calls for a credit of .35 cents.
AMZN earnings
Bot AMZN call fly Aug3 1850/1900/1960 @ 4.40 in two accounts to hold through earnings. Looking for a pin around 1900 after earnings but will take any profit I can get in the 1850 to 1960 range.
#earnings
AMZN
BTO august 3, 1820/1830 bull call spread at 5.00, I was too early on this one.
SQ
BTO Aug 3 72.5 Call 2.05
2nd trade #earnings
NVDA FB
#ShortPuts – Alright…my 52 dollar loss on the iron fly single handedly brought down FB (sorry Zuck!). 🙂
Had to book an NVDA position to make room for a new FB. Was considering doing it before earnings anyway.
Bought to Close NVDA SEP 21 2018 175.0 Put @ .40 (sold for 4.90)
Sold FB JAN 18 2019 155.0 Put @ 5.50 (a little early)
#shortcalls FB BTC Aug 17…
FB BTC Aug 17 225/235 for 0.10, sold yesterday for $2.20, thank you SMM
CAT
STC Aug 3 145 Calls 1.85 BTO 7/12 1.55 #Earnings
Thx MamaCash
FB trades
Sold
$FB Aug 17 170/160 BuPS @ 2.20
$FB Dec 21 150 puts @ 3.70
Thanks Iceman for the 150 strike idea. I doubt it gets there but it would be a great level to buy long term shares. I may go higher today.
Good Morning
Good Morning
good morning – need advice…
good morning – need advice on a trade in AMZN – I have the Jul 27 1685/1680 bull put spread expiring Friday. My options are to close for a loss, roll it out to Aug 31 for .27 credit, or ???? Thanks!
Efficiency of capital round 3…
Efficiency of capital round 3 or 6, lost count.
While sitting in airports and riding in the plane was thinking about how to improve #pietrades and any trade you were assigned. Here is what might work, may convert MU tomorrow to see how it works.
1. set up weekly ladders, 21 DTE seems to be ideal except going into earnings. EXPE and WDC are holding most of its time value right up until tomorrow. Less chance of getting assigned, easier to adjust farther out, more premium for strikes OTM. Also they decay quickly enough you can usually roll in 1-2 weeks if they stay OTM.
2. If put deep ITM better to take assignment and convert to covered calls.
3. However, instead of taking the stock long term like I did with GM (22 weeks), may be better to sell the stock at a loss and reset to a #fuzzy using a calendar or lower strike call. Then you are in the trade longer term, cost basis goes up, but the big advantage is you free up a ton of margin to use on more profitable trades. Then just a matter of recovering the initial loss and working the LEAPs down to cost basis of zero.
I may try this as a long term experiment with MU tomorrow, close to break even on cost basis but want to keep collecting MU premiums but would rather not hold the stock for 24 months. This is how I recovered a 17 point drop in SWKS so I know it works. My only concern is could end up with a bunch of #fuzzies when what I really want is #pietrades. However, once profitable could close out the #fuzzy and reset.
Will keep everyone posted.
Greetings from Yokohama
After 24 hours of travel I was NOT staying up for a 10:30pm market open, so I set up a few orders and slept through the night.
Sold strangles on $FB #Earnings… 197.5/230, fortunately small in size!
Closed $EOG #PreEarnings trade for almost a double.
Closed my final $SPX spreads for profit. Now flat in $SPX for first time in 3 years.
Boom… sputter
Today was a fun and busy day. Looks like tomorrow will just be a busy day.:-)
STC EA pre-ER for small loss. Second pre-ER loser this quarter. GOOGL was the first.
STC CAT pre-ER Aug3 140c @ 3.80 for 58% profit. Bot @ 2.40. Third and last round of CAT
STC SHOP pre-ER Aug3 180c @ 4.40 for 42%. Bot @ 3.10 ydy. Third round of SHOP pre-ER
Rolled BABA Aug10 calls down to 35d twice collecting $1552 profit.
BTO BABA pre-ER Aug3 202.5 @ 1.46. Third round of BABA pre-ER
BTO WYNN pre-ER Aug3 167.5c @ 3.60. Fourth round of WYNN pre-ER
BTO LRCX strangle Aug3 175c/167.5p @7.37. Will hold through earnings for a pop or drop.
BTO CHKP post-ER based on reaction to earnings. Aug17 120c @ .85
BTO GRUB post-ER trade Aug10 140c @ 2. Will buy more layers if pullbacks.
Gradually catching up and easing…
Gradually catching up and easing back into trading from vacation.
Only a single roll today. More to follow tomorrow or Friday.
#pietrade MU rolled the 55 call out next week for 0.44 credit. Cost basis is now 55.79.
Tomorrow will have EXPE, WDC or not depending on earnings response.
AMAT, TQQQ, FAS, XBI, and second batch of AMAT.
Hope everyone had a good week.
@smasty160 is right, weather was awesome except for the 104° day but even that did not feel hot compared to east coast.
Stocks down after hours BIIB…
Stocks down after hours
BIIB – $43
TQQQ – $4
TWTR – $3
PYPL – $5
trying to place a post…
trying to place a post please let me know if it appears previous attempts have failed
FB
#Earnings – Just for the heck of it….
Sold 212.5/217.5/222.5 Iron Flies @ 4.48
Risk 52 to make 448 but need half the expected move…low risk with low probability.
@mortlightman Just took CAT profits….
@mortlightman
Just took CAT profits. I’ll post details later but almost a double.
GOOGL Supercharger
Sold GOOGL Jul27 1240/1250 BuCS (aka supercharger) @ 9.40 for 20% profit. Bot @ 7.79.
GOOGL has been a gravy train in the Bistro today.:-)
#supercharger
Closed Early GOOGL Long Calls AVGO Short Puts / Short Calls FB
Closed Early
#longcalls
$GOOGL STC 7/27 1230/1260 BUCS at $27 BTO 6/21 at 6.80
#shortputs
$AVGO BTC 8/17 195/210 BUPS at 1.00 STO at 4.85
$AVGO BTC 8/17 180/190 BUPS at .15 STO at 1.50
Trade
#shortcalls
$FB STO 7/27 230 calls at .90. Sold against 190 LEAPS
$EXAS STO 8/3 65 calls at 2.65 (Covered)
GOOGL #Supercharger Opened this morning,…
GOOGL #Supercharger
Opened this morning, closed just now for .30 gain, $300, 4.40. Just wanted to take the present of a nice one day profit before a big tech night.
ALGN Earnings
STO Sep 270 put @1.40 x9, BTO 370/360 Put Debit Spread @ 3.70 x1, BTO 320/310 Put debit spread @1.25 x 2. Break even: 266, 30% from spot.
GOOGL
STC Jul 27 1240/1245 4.73 #Fuzzy BTO 7/24 4.00
NOC
STO January 220 puts @ 1.65
NOC is down 6% 250…
NOC is down 6%
250 strike has decent premium in Nov and Jan
ROKU
BTO Aug 10 51 call 2.27 #earningstrade
Thx Fuzzball
SPX champagne
Opened some SPX Fri/Mon calendars 2 call x 1 put. Bot Jul 27/30 2840 call cal @ 1.60 x 2 to take advantage of the current bubbly (bid) in the market. Bot Jul27/30 2810 put cal @ 1.75 x 1 for protection against an earnings or trade war catastrophe.
GOOGL
STC 27 JUL 1235/1240 BuCS @4.70 with stock @1267.55…BTO 7/24 @4.00….Thanks MamaCash
#supercharger
SQ
STC Aug 3 73 call 2.60 BTO 7/23 2.14 will look to re-enter on a pull back
Thx MamaCash
#shortputspread AVGO Sold August 17,…
#shortputspread AVGO
Sold August 17, 210/215 for 1.00, earnings Aug. 20, Broadcom appears to be coming back from a big drop 2 weeks ago.
July 25
My last two earnings trades in LMT and BA are looking fine. They are theta duration trades now.
GOOGL: #supercharger BTO Aug 3 1230 STO Aug 3 1235 for $4.10, target $4.55
GRUB: #StairStep STO Sep 21 100 put @.70 x10, BTO 115/110 put debit spread @1.05 x 2, break even: $98.50. Plan to roll the 100 puts to 105 to collect more premium.
BABA pre-earnings
Sold BABA Aug3 192.5c @ 4.60. Bot @ 2 ydy.
Bot BABA Aug3 197.5c @ 2.07 using half of the profits for a third round of pre-ER. BABA is rivaling LMT for 1st place in terms of profits on this quarter’s pre-ER trades.
#preearnings
SHOP pre-earnings
Sold SHOP Aug3 180c @ 4.40 for 42% profit. Bot @ 3.10 ydy. Third round of SHOP pre-ER.
#preearnings
ROKU
Hey Mama….how does ROKU look for an earnings runup play? I’m guessing yesterday would’ve been better. We’re about 2 weeks out now.
DIA QQQ SPY
Adding some fuzzy layers on today’s “sort of” weakness. No hedges yet may add after earnings frenzy or close for profit.
Bot DIA fuzzy Aug24 252c/-252p/249p @ 1.82.
Bot SPY fuzzy Aug24 282c/-282p/279p @ 2.10
Bot QQQ fuzzy Aug24 181c/-181p/178p @ 1.99
#fuzzy
EOG pre-earnings
Sold EOG Aug3 128c @ 2.30 for 130% profit. Bot @ 1. This is second round of pre-ER.
#preearnings
#earningsrunup
LH
STO November 160 puts @ 2.40
#shortputs #closing #fallingknife HA June…
#shortputs #closing #fallingknife HA
June 12, sold October, 32 put for 1.12, bought today for .45
DBX #Coveredcalls Sold Aug 03rd…
DBX #Coveredcalls Sold Aug 03rd 33 Calls for .30 with stock at 30.89.
IBB
BTO Sep 21 119C 119/117 BuPS #Fuzzy 2.50
Thx MamaCash
Avoiding #earnings #rolling WDC July…
Avoiding #earnings #rolling #shortputs WDC
July 9, sold 76 put for 1.23, rolled to September, 75 put for .92, earnings are July 26, WDC down a little over a dollar to 75 and change today.
SPX Campaign
#spxcampaign
$SPX STO 8/3 2885/2860 BECS at 1.85
ROKU #Coveredcalls With ROKU down…
ROKU #Coveredcalls With ROKU down at the 20dma and possibly poised to go lower I bought to close my 7/27 50 calls @ .15, originally sold for 1.15 and sold the 7/27 46 calls @ 1.18. My original entry on the stock was 46 back on 6/30 from an assignment. I will probably take assignment here if it happens and look to sell Puts lower down on the food chain.
LABU roll
BTC August 10, 102 calls and STO August 17, 103 calls for a credit of .30 cents
Moving from ratios to fuzzies
Due to low IV, I’m moving to fuzzies for my core trades. On Friday, I closed my ratio trades: DIA FAS IWM PANW RHT SSO TQQQ TWTR XLY all for profit except TWTR. I was able to roll long call deltas down multiple times to collect income on most of these trades. It was a good run in July.
Opened new fuzzies yesterday, Aug24 expiration: DIA, IBB, IWM, QQQ, and SPY. Will reset these positions when core is double the debit paid.
Life is busy so not posting the specifics of all these trades. Most of you know the drill on income trades better than I do. Questions? Please ask.
BA Earnings
STO Sep 310 put @2.06 x5
BTO Sep 340/325 put debit spread @3.33 x1
BTO jul 27 330 p @ .44 x 3
This is a similar trade to LMT yesterday, but resolves the T+1 line drop. If there is a radical drop in BA the breakeven due to the extra Jul 27 puts is all the way down to 276, 23% down from spot.
I’m honestly not entirely sure how this will really play out…I’ll report on it!
SPX Trades
BTC 2 ea Aug 24th 2680 short puts, at $6.40…Prev sold at 16.50
gain at 60%
STO aug 24th 2725 short puts against teh long side from above, at $9.35
TQQQ bought to close my…
TQQQ bought to close my 7/27 63 Put @ .25. Sold 7/19 @ 1.05. Will reload at a better entry
TQQQ (again)
#LongCalls #LEAPS – Trading around this one again. Looking to reduce some of my positions so booking some profits. It was a 3×2 ratio so taking it off on the bounce today.
Sold to Close TQQQ JAN 17 2020 60.0 Calls
Bought to Close TQQQ AUG 3 2018 57.5 Calls
All said and done a 1.49 winner on the 3 lot. A great year in TQQQ so far…
Options Bistro 