#Earnings. Quite a week for blind trading… Thursday’s bullish run looks good for my trades in $SHOP (#Earnings), $MRVL (#PreEarnings), and $NVDA (#SuperCharger).
But I’m under water with naked calls 330 calls in $TSLA, and #CoveredCalls in $AAPL and $SQ. I will have to roll on Friday. May require me to stay up late!
Today,
Closed $TSLA 260 puts for .06. Sold for 2.75
Sold $PYPL Aug 17th 87.5 #SyntheticCoveredCalls for .80.
Yesterday I forgot to check earnings, on MZOR, had a 100 shares and a 65.0 August Put. Well it was down over 10 points this morning. Needless to say, I wasn’t happy the rest of the day. So learn from this, and check EARNINGS DATE on your trades. I know I learned from this, the hard way. Good thing I used risk management, and didn’t have too much.
STO June 2019, 80 puts @1.05, took all day to get a fill on that one.
STC Aug 10 1740/1742.5 #supercharger @ 2.30 put on yesterday @ 1.85
allowed 1 winner
Got run over with BWBF was out most of day and now max loss
also
Close #supercharger in NFLX & GOOGL this AM at almost total loss, now coming back
Snake bitten
Bad day at black rock
#Earnings #JadeLizard – With the IV in this thing and only one day to go I feel like I’ve gotta do something. Working both sides at the expected move (+/- 6.50) and selling a Jade Lizard. No upside risk here and breakeven down around the 100ma. One third position size just in case a repair is needed.
Sold 57.0 Puts and Sold 70/71 Call Spreads @ 1.19 total credit
#ShortPuts Afternoon all. I didn’t get to post these yesterday as the current spate of storms kept knocking the power out. With more on the way I decided I had better remedy my deficiency.
Yesterday I sold Aug 03 8 Puts on P @ 0.15. It looks like Pandora might make for a decent PIE trade on a weekly basis. So I’m giving it a whorl.
Sold Aug 03 32.50 Puts on IQ @ 0.50. Crappy timing. I will roll this out.
I was assigned the second MU Aug 03rd 58 Put. Now if it can crawl out of the gutter life would be grand.
#Stairstep STO Sep 50 puts @ .75 x10, BTO 62.5/60 put debit spread @1.10 x 1, BTO 57.5/55 put debit spread @.69 x2.
Break even 48.75, which is getting close to 34% downside with no upside risk.
Important note on these trades: The breakeven is very far away, but on a significant down move there are short term losses that require duration in the trade for theta to overcome. As price drops, the “stairstep” profit levels go up.
#LongCalls #LEAPS – Another week…this thing looks like it’s ready to head back up.
Bought to Close AMBA AUG 3 2018 40.5 Calls @ .05
Sold AMBA AUG 17 2018 40.0 Calls @ .75
Sold $EXAS Jan 18 2019 35 puts @ 1.45
@ShortPuts – Just filled on this…
Bought to Close TQQQ JAN 18 2019 20.00 Puts @ .20 (sold for 1.57)
And right at the open in a small account that I’m going to get a little more aggressive in:
Sold TQQQ SEP 21 2018 60.0 Put @ 3.90
Sold TQQQ SEP 21 2018 55.0 Put @ 2.35
Sold TQQQ SEP 21 2018 48.33 Put @ 1.15
#Earnings – I was early figuring this move would get sold but I’ll take it…
Sold to Close 325/335/345 Call Butterfly @ 2.35 (bought for .64)
.58 loss on the put butterfly so net gain of 1.13….just a little over 100 percent. Same position is sitting at 3.16 right now. No regrets!
$MamaCash
Are you sill holding Supercharger NVDA for 08/17. I’m holding the 240/245 which I bought for 3.35. It just never seems to move into profit! Or am I missing something?
Apple just past into a trillion dollar market valuation…”a billion here, a billion there, etc.”
#fallingknife
TRIP is down 14%
Good premium in Jan for $39 and $40
X is down 10%
#pietrades and #fuzzies
MU 2020 55/55 calendar rolled out to 15 DTE and down to 53.5 for 0.71 credit. Cost basis now 12.62
WDC assigned on 7 contracts 75 puts at 73.71 cost basis. I am sure the other 3 will assign so sold 10, 8 DTE 69.5 cc at 0.93 dropping cost basis to 72.78.
I can see both of these are reversing already so will end up adjusting.
TQQQ 60 cc rolled out to next week for 0.9 credit. Cost basis now 57.79 batch 1
TQQQ 59 CC rolled to next week for 0.7 credit. Cb now 57.25 batch 2
AMAT 47 cc rolled out next week for 0.41 credit. cb now 49.76 on batch 1
AMAT 47 cc rolled out next week for 0.35 credit. Cb now 46.64 on batch 2. Will let this one call out if ITM next week and this batch repaired from earnings after 5 weeks. However, this is a small account and I think I can do better with a #fuzzy.
Seems like 5 out of my last 8 earnings trades all went bad. Maybe time to reconsider earnings trades, at least as a #pietrade. Probably better to skip that week then re-establish the week after.
Also the triple ETFs have been easier to manage. Not saying lower risk, but easier to manage. The extra premiums allow you to roll easier, move strikes ITM, OTM, or ATM and still take in good credits. The higher premiums create more opportunities.
From an income standpoint #pietrades make the most income but on a percentage basis the #fuzzies are doing better. Also better for smaller accounts.
So what does this mean, see below for the 45-22 DTE ladders for #pietrades. Small accounts will use spreads and #fuzzy, and #supercharger.
Have officially made back 33% of the SVXY losses. 3 accounts have fully recovered but 2 accounts have a long way to go. Having to be more conservative with those accounts as well because they are small/tiny now and another loss would wipe them out so the other reason I am looking at longer duration trades.
Continuing to work on my SVXY losses.
Sold $UVXY Sep 14 (weekly) 12/15 call spread @ .37
STO January 110 puts @1.60
STO SIVB September 300 puts @7.20
STO CVS January 2019, 50 puts @.70 cents
WYNN
took advantage of the drop and STO Jun21’19 80 put for .93
More TT research confirming 45 DTE is ideal for selling OTM options but with a twist. Closing at 22 DTE showed the best results. They also looked at other expirations and different management times.
https://tastytrade.com/tt/shows/market-measures/episodes/managing-earlier-varying-durations-07-17-2018
Quicker than usual for them, under 10 minutes.
I may migrate some of the #pietrades and TT work into one hybrid trading plan. #pietrade ladders started farther out but managed quicker, usually only 23 days. Will start a new experiment.
I was looking at selling puts on this one but I think I will pass on this one. There are plenty of other burger joints to look at. I will be looking at WYNN though.
It is going to be fun today.
Options Bistro 