Bot EA Jul27 152.5c @ 2.41. First layer 1 lot on today’s pullback
Bot ABT Jul18 64c @ .33. Starter position 5 lots
#earningsrunup
Monthly Archives: July 2018
FAS
#LongCalls #LEAPS – Was busy all weekend so just now getting caught up on last weeks trades. In the meantime had a small position over at Tastyworks that went negative deltas today (non-ratio) so booking it.
Sold to Close FAS JAN 18 2019 65.0 Calls
Bought to Close FAS JUL 20 2018 64.0 Calls
Booked 1.45 per contract on a huge 2 lot 🙂
Donald J. Trump
@realDonaldTrump
Pfizer & others should be ashamed that they have raised drug prices for no reason. They are merely taking advantage of the poor & others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe & elsewhere. We will respond!
Notable Earnings PM Mon:
None
Notable Earnings AM Tues:
PEP
Notable Earnings PM Tues:
AIR, WDFC
Notable Earnings AM Wed:
FAST, MSM
Notable Earnings PM Wed:
OZRK
Notable Earnings AM Thurs:
CBSH, DAL
Notable Earnings PM Thurs:
None
Notable Earnings AM Fri:
C, FRC, JPM, PNC, WFC
Notable Earnings PM Fri:
None
VIX
#Hedge
BTO Aug 22 15/19 BuCS & 13/10 BuPS cost .09
This is a DK trade
#coveredcalls BTC TWTR July 13th…
#coveredcalls
BTC TWTR July 13th 47 Call for .05. Sold Friday for .55
BTC DBX July 13th 33 Calls for .15. Sold Friday for .35
SPX rallies (aka SPX champagne)
Bot SPX Jan 11/13 call calendar @ 1.75. Looking for a double by Wed.
Bot SPX Jan9 call @ 1.75. Sold @ 3.50. Lucky on this one.
Sold SPY Butterfly Jul13 274c/282c/284c 2/-4/2 @ 3.73 x4. Bot @ 2.13
More GUSH
#ContangoETFs
Sold $GUSH Dec 57 call for 5.20, adding to my position
Sold $GUSH July 20th 48 call for 1.05
#PIETrade #ShortPut Sold DOCU July…
IWM short calls
Rolled IWM Jul13 166.5c to Jul20 170.5c @ .82 debit.
Another case of getting run over since Friday. These are ratio trades so still making money but not much.
Closing SWKS
Bought to close $SWKS Jul 13 95/90 BuPS @ .10. Sold for .63 on 6/19.
#Shortput #PieTrade Sold TQQQ July…
DIA short calls
Sold Jul13 245c @ 1.61 on Friday. Covered today @ 2.65 because it ran out of extrinsic.
Replaced short call with BeCS DIA Jul20 251/249 @ .58.
While we’re in rally mode, I’m switching from 45 delta short calls on my ratio trades to 35/21 BeCS. I want a hedge but not so tight that it cuts off profits.
#shortcalls
#unbalanceddiagonal
JPM pre earnings
Sold JPM Jul20 106c @ 2.10 x4. Bot in layers for avg price of 1.40.
Still holding JPM fuzzy Jul20 105c/105p/102p 1/-1/1 @ .70. Current price 2.03
#earningsrunup
#coveredcallcampaign JCI EWZ Tradewise cc,…
#coveredcallcampaign JCI EWZ
Tradewise cc, sold August 17, 37 call for .43
EWZ sold July 20, 34 call for .39
GOOGL
STO Jul 13 1140/1137.5 BuPS .40 #Bitty
WFC
BTC October 40 puts @.10 cents.
AMZN
STO Jul 13 1677.5/1675 BuPS .25 #Bitty
NFLX pre earnings
Bot NFLX Jul20 420c @ 10.04. Sold @ 20.00
Will open new position on any significant pullback before earnings report on 7/16.
#earningsrunup
GUSH reaching new highs
#ContangoETFs Sold $GUSH Aug 17th 50 call for 2.15.
SPX
BTO SPX Jul 13 BF 2780/2790/2800 calls 1.50
Econ Calendar for week of 7/9/18
Be sure to periodically click Home/REFRESH to keep Bistro features updated.
Earnings this week
Notable Earnings PM Mon:
None
Notable Earnings AM Tues:
PEP
Notable Earnings PM Tues:
AIR, WDFC
Notable Earnings AM Wed:
FAST, MSM
Notable Earnings PM Wed:
OZRK
Notable Earnings AM Thurs:
CBSH, DAL
Notable Earnings PM Thurs:
None
Notable Earnings AM Fri:
C, FRC, JPM, PNC, WFC
Notable Earnings PM Fri:
None
Expiration Closed Early and Trades
#optionsexpiration
$NFLX 380/390 BUCS Max Profit
$WYNN 165/170 BUPS Max Loss
$EXAS 60/70 BUCS Assigned stock at 60 with basis of 67.10 Current price 62.46 Expecting an earnings run
#closed
$SPX BTC on GTC order 7/9 2600/2625 BUPS at .10 STO at 1.60 on 6/27
$FB BTC on GTC order 7/20 180/190 BUPS at .60 STO at 1.85 Closed half the position
#shortcalls
#ROKU STO 7/13 47.50 calls at 1.30 (covered)
Afternoon all. I have been…
Afternoon all. I have been popping in and out and never could grab the time to post. So here is my summary for the day.
#Coveredcalls
TWTR BTC July 6th 45.5 Calls @ .48 and .61 this morning. I will cover up later.
TWTR Sold to open July 13th 48 Call @ .55 Still have 1 to go. Tried the July 13th 48.50 @ .45. Didn’t get filled.
FAS Rolled July 6th 64 Calls out and up to July 13th 66 Calls for a .25 credit.
MU Rolled July 13 56 Call down and out to July 20th 55 Call for 0.72 credit..
DBX Sold July 13 33 Call @ .35
BAC Sold July 27th 29 Call @ .25
#ShortPuts
XOP BTC July 13th @ .30. Sold 7/3 @ .80
#Expired
TQQQ July 06th 56 Put
DBX July 06th 34 Call
BAC July 06th 28.5 Call
I hope everyone has a great weekend. Getting some much needed rain here.
SPX Iron Condor
STO SPX 8/31/18 2560 puts
BTO SPX 8/31/18 2540 puts
STO SPX 8/31/18 2890 calls
BTO SPX 8/31/18 2910 calls
2.35 Credit
Introducing VXXB
https://basicsoftradingstocks.wordpress.com/2018/01/22/vxx-etn-changing-to-vxxb/
AAPL
BTC 6 JUL 18 187.5 CALL @.27..STO 6/28 @1.07..
STO 13 JUL 18 190 CALL @.75..timing not good on this sale…now trading for 1.00..:(
#shortputs #rolling NKTR It took…
#shortputs #rolling NKTR
It took all day but rolled July 20, 50 put to August for 2.00, a lot of premium for a 47 dollar stock, earnings Aug 6
TGIF
Hi Everyone! Hope you’ve had a good week! This has been a rest and reset week for me. Ditching #Saf-T trades and back to #AtomicFuzzy for me. The atomics are good for higher vol environments. When vol drops back down below 13-14, then regular fuzzy will work.
Just wanted to pop in and say today will bring 2-of-5 1-standard deviation moves up. Looking for that 3rd. The last signal we got was May 10 and about a 95 pt rally ensued. Mon/Tue/Wed are all candidates for a signal.
Sue
Mining for cash in the ratio trades
With the rally today, many of my long calls moved up to the 75-80 delta range. I took advantage of this bounty and rolled these long calls back to 63 delta in the same expiry. This allowed me to raise appx $5000 in cash while keeping the ratio trade design in tact. I would list all the trades but this has been a long week. If questions, please ask.
GOOGL
BTO 13 JUL 1125/1130 calls @4.00…GTC order in to close @4.70 #supercharger
FAS NVDA OLED
#LongCalls #LEAPS – All ratio positions so no need to get crazy. Just easing them up and keeping a little downside cushion. Done for the day!
FAS:
Rolled 63.5 Calls to next week 64.5 @ .17 credit (2 accounts)
NVDA:
Rolled 242.5 Call to next week 245.0 @ .57 credit
OLED:
Rolled 87.0 Calls to next week 90.0 @ .20 credit
Aug GUSH
Sold $GUSH Aug 17 55 calls @ 1.10
SSO
Thank goodness for the ratio trades because otherwise, my SSO short calls would be wiping out my profits today.
Rolled Jul13 111.5c to Jul20 116c for 2.53 debit
Rolled Jul13 112.5c to Jul20 116c for 1.72 debit
Rolled SSO long call Sep21 110c to Sep21 112c @ 1.53 credit (resetting to 63 delta)
#fallingknife FYI PSMT is down…
FYI
PSMT is down 8%
CELG again….
#LongCalls – This is getting old. Big rally today above the 50ma. Rolled iron condor to a (semi) Jade Lizard putting most of the risk below the 50ma now.
Won’t bore you with numbers but rolled the short put side up to the 50ma. Took the credit and rolled short call side up. Call side is now a dollar wide with .40 credit. Put side is wider now so that’s where the risk is.
Plan A:
If it continues rallying I’ll roll the short puts up again to try to get as much of the 60 cent risk as I can.
Plan B:
If it tanks I may close the whole thing and see where I stand. If I’m not satisfied I’ll roll it all into a new 2020 LEAP position since it seems like it’s finally reversing course.
GOOGL
STC Jul 6 1110/1112.5 Calls #supercharger 2.48 cost 2.00 early this week. Also have a few BuPS expiring today.
Have #supercharger Jul6 1165/1167.5 that is going to be a loss, will add trades to fix loss hopefully.
AMZN
STC Jul 6 1675.0/1677.5 #supercharger, with a few BuPS from 6/19 multi trades.
Finally closed this 260.50 Profit. A bit of work. Am trying to make all trades work by adding additional trades to make up any loss before closing it all and starting over again.
There was 5 different trades in this one.
Volatility and SPX rallies
I trade VIX and VXX based on extremes I see in the price channels. I’ll start by sharing a few trades and more on strategy later.
Closed trades
STO VXX Jul13 38/39 BeCS @ .38 x 10. Bot back @ .10
Bot VIX Jul11 16P @ 1.62. Sold @ 2.02 x2
Bot VIX Jul11 15P @ .90. Sold @ 1.15 x2
Bot VXX Jul13 35P @ 1.02. Sold @ 1.45
Open trades
Rolled VIX Jul18 15/20 BuCS bot @ 1.12 to create a Jul18 15/13 BeCS for 1.90 credit – directional bias changed
Bot SPX Jul9 2780c @ 1.75 x2 in anticipation of the rally continuing thru today and perhaps Monday.
Call sales
#LEAPs #SyntheticCoveredCall Sold $PYPL July 20th 87 calls for .90
#PieTrades Sold $AMAT July 13th 46 call for .70.
#CoveredCallCampaign Closed $SQ July 6th 66.5 put for 1.35 to avoid assignment. Sold for 1.43 on June 21st.
#Rolling to: SQ July 27th 68 call for 1.53.
SPX calls stopped
#SPXcampaign Stopped $SPX July 13th 2765/2790 call spreads for 8.55. Sold Monday for 3.65.
Since I have a total of one other position in SPX, I have the margin to roll this not a double sized spread. I’m looking at a July 20th condor for 4.30 or more.
Hedge/lottery ticket idea from OIB/income masters.
Use a LEAPS sale to finance SPX hedges. You could sell a LEAPs put or buy write on something you want to own long term, then use the cash generated to pay for monthly puts on SPX but with a twist. They budget for a 10% market correction and only costs about 3% of your income yearly. Most months it expires and you lose everything you put in but in Feb. a few people in the service made a ton. 1 guy had puts worth 55k each while most of us were losing on SVXY. So occasionally the lottery ticket pays off.
Here is how it works. Not saying I am doing this right now but there is potential, especially when VIX is down. I have also heard this called the Hindenburg trade, buy insurance when it is cheap.
With SPX at 2757 as I type this, a 10% correction would put SPX at 2481. You do not want to buy that put because at expiration it would be worthless. What they suggest is buying a put that would have a value of roughly 10k if it dropped that much. So at current prices that would mean buying the 2550 put 31 DTE for 4.5. If we had a 10% drop 1 put would be worth about 8k if we made it to 2481. However, because of the volatility expansion it would likely be worth much more.
Figure out how much insurance you want on your portfolio, then figure out how many options to buy. Keep in mind more options will cost more but will also be a bigger payout when they finally pay out.
I may start experimenting with this when the market is complacent. Don’t think I need a full time hedge. The income masters hedge about 80-85% of the time but only pays off on the big down spikes.
#shortputs #coveredcallcampaign #rolling Rolling day…
#shortputs #coveredcallcampaign #rolling
Rolling day of in the money puts and calls, July 20 to Aug 17
GPRO 8 put for .17
JCI 37 put for .14
FEYE 17 put for .42
MGM 30 put for.53
UVXY 15 put for .65
MAT 15 call for .34
OIH 25 call for .42
XBI roll and reduce
#LongCalls #LEAPS – Another one similar to XLY. Caught a great move and weeklies got run over so trade hasn’t really made anything. Rolling the short calls out a few weeks but not up much. Using the credit to remove one short call. This gives a 10×9 ratio reducing the upside risk. I’ll be watching it closely…in case of a pullback I might be able to get out at even and then reset to 2020 (or add to LABU instead)
Bought to Close 10 XBI JUL 13 2018 94.0 Calls
Sold 9 XBI AUG 10 2018 94.5 Calls
Did the roll for a total debit of .60. Since it was unbalanced that debit is not per contract. It’s 60 dollars total for the trade. A small price to pay to remove a lot of risk…
LABU roll
BTC July20, 99 calls and sold the July 27 100 calls for a credit of .32 cents. LABU jumped up this morning so every time I get a chance to roll up and get a credit, I take it.
A few trades
#Earnings #Rolling BTC $RH 150 puts for 13.65. Sold July 20th 125 calls for 12.40. I’m actually looking for this one to fill the gap. It has tended to do that often after a big rise on earnings. I will add puts to this if we trade lower. I almost never get away from an earnings trade on this one easily.
#Earnings #Assignment #PieTrades Assigned $YY stock when July 6th 110 put was assigned early. Sold July 13th 97 call for 1.25. I’ll turn this into a PieTrade for recovery.
#PieTrades Sold $MU July 13th 53.5 #CoveredCalls for 1.00
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Re-loading the call side…
Bought to Close TSLA JUL 6 2018 320.0 Calls @ .10 (sold for 5.00)
Sold TSLA JUL 13 2018 320.0 Calls @ 4.21
RTN
#LongCalls #LEAPS – Replacing this week’s…
Sold RTN JUL 20 2018 195.0 Calls @ 1.35
XLY
#LongCalls #LEAPS – Instead of messing with this one any more I’m booking it at breakeven. Caught a great move on the entry months ago but weekly (1×1) call sales got run over and the trade just never worked. I’ll re-load on a pullback.
Sold to Close XLY JAN 18 2019 105.0 Calls
Bought to Close XLY JUL 6 2018 107.5 Calls
LMT earnings report
Unfortunately, LMT moved their earnings report date from 7/17 to 7/24. This means that our Jul20 trades are not positioned to capture the high point of earnings momentum. My recommendation is roll them out to Jul27 expiry for a loss or close them. I haven’t seen earnings reports get moved around like this until the last couple quarters. This is the risk that comes with these trades.
June Jobs Report
#Jobs Better than expected.
+213,000 non-farm payroll jobs, vs 188K expected
Unemployment up 0.2 to 4.0%
U6 unemployment at 7.8%, up by 0.2
Wages up 0.2%, 2.7% year over year
Labor force participation 62.9%, up 0.2
May revised up from 223K to 244K
Apr revised up from 159K to 175K
Closed Early KHC BUPS and TSLA BECS and IQ Calls
#shortputs
$KHC BTC 7/20 52.50/57.50 BUPS at .10 STO in May at 1.40
#shortcalls
$TSLA BTC 7/20 400/350 BECS at 1.50 STO 6/8 at 6.00 Thank you @optioniceman. I get cold feet and so I am out.
#shortcalls
$IQ BTC 7/20 40 calls at .60. STO at 3.90 and 7.10
SFIX
Motley Fool has recommended this company, IPO was in 2017
#coveredcallcampaign GIS New Tradewise recommendation…
New Tradewise recommendation buy/write GIS Aug. 17, 45 covered call, I’m in at 44.49 for the stock and 104 for the call, ex div July. 9( not August,thanks to #tabortrader).
LABU
Rolled July 13, 98 calls to July 20, 99 calls for a credit of .95 cents and I only need .35 cents per week so I pick up an extra .60 cents and a point higher in the strike price. This is against my 2020 115 calls.
QCOM
BTC September 35 puts @.10, sold at .90 a long time ago. That is the last of my QCOM puts. China can do whatever it wants for now.
Closing some DUST
Taking these off for most of the profit. Didn’t want to wait another 6+ months for the last .50 or so.
Bought to close $DUST Jan 18 2019 50 calls @ .49. Sold for 4.10 on 11/29, 4.30 on 12/5 and 5.20 on 12/7.
NFLX
STC 6 JUL 380/385 CALL @4.70. BTO 6/26 @3.83 #supercharger
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)
PANW RHT
Rolled RHT Jul6 135c to Jul13 137c for .30 credit
Rolled PANW Jul6 205c to 207.5c for .50 credit
This takes care of all my Jul6 ITM short calls.
FAS roll
Rolled FAS Jul6 63c to Jul13 64c for .35 credit.
The ITM short calls in the Jul6 expiry are hitting me in the face today but profit is good so won’t complain.:-)
#unbalanceddiagonal
#shortcalls
TSLA Jul put spread
Could be printing a hammer. Sold Jul 280/270 BuPS @ 1.50.
TWTR short call
Rolled the Jul6 44.5c to Jul6 45.5c for .20 credit. This 2×1 ratio trade has been profitable since entry.
#unbalanceddiagonal
#shortcalls
NFLX supercharger
Sold NFLX Jul6 380/385 @ 4.70. Bot @ 4.39.
I didn’t manage this trade well. Adjusted from 10-wide spread to a 5-wide spread at the low giving up $2 potential profit.
#shortputs WBA sold July 20,…
#shortputs WBA
sold July 20, 60 put for .69, Walgreens dropped about 7 after earnings last week, appears to have stabilized.
#fuzzy XBI 87 2019 leap…
XBI 87 2019 leap and short 95.5 call rolled up to 96.5 and out to July 27 for 0.29 credit. Total risk and cost basis now down to 10.02 in 2 weeks. Initial cost was 10.63.
I think #supercharger and #fuzzy are the best for small accounts. This is only a 2 k account and up $300 in 2 weeks or 11% over that time. Also because of the spread it lowers the volatility.
Sitting on hands until next Thursday, the will roll everything out 2 weeks for vacation.
#earnings #shortstraddle #longstraddle Tastytrade 7…
#earnings #shortstraddle #longstraddle
Tastytrade
7 minutes on post earnings straddles, interesting numbers
https://www.tastytrade.com/tt/daily_recaps/2018-06-29/episodes/selling-cheap-straddles-after-earnings-06-29-2018
Joining LMT rocket
#Earnings #EarningsRunUp
Bought to open $LMT July 20th 310 calls for 1.00. I will assess the trade’s performance next Friday, 7 dte.
#shortputs #pietrades MU Sold July…
Sold July 13, 50 put for .62, MU at 52
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Gonna have to roll the DITM puts as best I can but at least the call side is back in play. I’ll be using the ratio method for the call side since there’s plenty of premium available. Puts have about $15 dollars of premium in them so far so their basis is around 342 against long 2020 300 LEAP puts.
Rolled TSLA JUL 6 2018 360.0 Puts to JUL 27 2018 357.5 Puts @ .19 credit
Sneaking in a double dip on the call side this week….
Rolled TSLA JUL 6 2018 320.0 Calls to JUL 6 2018 312.5 Calls @ 1.81 credit (6.81 total now)
XLY rolled short call
BTC XLY Jul6 109.5 @ .20, Sold @ .91
STO XLY Jul13 109.5 @ .71
Pre-earnings second layer
With pre-earnings, I recommend to use small position size and add layers on pullbacks. I’m adding to LMT and INFY today on the pullback. This is my own refinement of the CMLViz strategy. CML goes all in on the first trade. At 7 days before earnings, they use a 40% profit/loss stop.
Bot LMT Jul20 310c @ 1.30
Bot INFY Jul20 20c @ .29
#earningsrunup
IWM PYPL TQQQ rolling short calls
Rolled IWM Jul6 165c to Jul13 166.5c @ .90 credit
Rolled PYPL Jul6 83c to Jul 13 84.5c @ .97 credit
Rolled TQQQ Jul 58.5c to Jul13 58.5c @ 2.41 credit
#unbalanceddiagonal
#shortcalls
MamaCash
LMT pre-earnings. What is your limit for closing 20 JUL 2018 LMT call? BOT at $1.90, Currently at 1.20
Options Bistro 