TSLA

https://www.bloombergquint.com/business/2018/08/09/tesla-is-said-to-face-broader-sec-scrutiny-over-musk-statements#gs.cm_6Odc

We missed again

#VIXIndicator The $VIX avoided an Upside Warning again… clock restarts, we need three consecutive closes below 11.20 (11.19 or lower).

Rolling IQ and AAXN

#shortputs
Rolled
$IQ BTC 8/17 35 put at 5.53 and STO 9/21 35 put at 6.33
$AAXN BTC 8/17 65 put at 5.00 and STO 9/21 35 put at 6.00

#pietrades and #optionsexpiration Fragmented trading…

#pietrades and #optionsexpiration

Fragmented trading day here. They were working on lines near our house and internet kept going in and out which will explain my weird WDC trade.

WDC, keeps going down. Converted to LEAP #fuzzy earlier in week. Was trying to roll to next week at 70 but because of the internet issues it somehow rolled to 66. Ok so took in a lot of cash but then the internet went down for a few hours. Of course during that time WDC reversed so was losing $ on the new trade and deltas were already flat. So rolled out to 43 DTE and up to 70. Took in 1.32 on the 66 call but had to buy them back and roll for 1.02 debit. So anyway after all that, now have the 60 LEAP 70 43 DTE call spread for cost basis of 19.03. If we rebound will buy back 2-3 of the short calls to let it run. Break below 65 will collar it to prevent further losses. As long as it stays 65-70 should break even in about 6-8 weeks.

MU 55/54 diagonal looking ok. Cb 12.43.

EOG 43 DTE 115 put cost basis at 113.20.

TQQQ batch 1 will assign tomorrow at 60 for a 2.21 gain on each contract. Reset Monday, hopefully after at least a little pull back.

TQQQ batch 2 will assign at 59 for 1.75 gain per each contract. Both these are nice 2 week pay checks! Reset Monday.

AMAT batch 1. Rolled 47 cc out a week for 0.52 credit. Cb now 49.24. A few more weeks of rolling then will reset as #pietrade again.

AMAT batch 2 rolled 47 cc out a week for 0.5 credit. This is showing a profit of 0.81 per contract but may keep rolling if it stays in range.

XBI 87/96.5 and 95/96 #fuzzy. Waiting for more decay and will roll next week. Cost basis of 8.62 on first batch and 5.1 on second.

SPX #hedge 2550 put has lost a lot already but gained 0.15 late in the day. Currently 1.75, bought for 2.9. Hope I don’t need it but will roll it at least a week before it expires and change it to a back ratio or risk twist to limit costs. That will be a more efficient hedge.

Hope everyone is having a good week and expiration. Some new trades will be added Monday.

WTW Earnings

#Earnings #CoveredCalls – My final adjustment. I’ll be taking stock at a basis of 79.16. I’m a little bearish thinking this thing is headed for the 200ma. Selling my covered calls ITM a couple weeks out for max downside protection while lowering my basis quite a bit.

Bought to Close WTW AUG 10 2018 80.0 Calls @ .12

Sold WTW AUG 24 2018 75.0 Calls @ 4.13

Stock basis now 75.15 covered with 75 strike calls. I’ll be able to let the stock go near even or roll one more time for a small profit. If it keeps dropping I’ll keep selling slightly ITM until we see a bounce…

TSLA

I’m liking today’s action a lot. But in case the stock gets back above 355 tomorrow and I have to roll the short 352.5 & 355 short calls for this week, I’m adding some inexpensive long positions that will create diagonal spreads for next week’s potential writes.
Bought to open TSLA 08/24/2018 440.00 Calls @ 0.31 and TSLA 08/24/2018 435.00 Calls @ 0.37

The market

The market in vacation, very slow