#shortcalls
$ALRM BTC 8/17 52.50 calls and STO 9/21 55 calls at added .20 credit. Stock price 53.55
Daily Archives: Thursday, August 16, 2018
Covered Calls
#PieTrades. Sold $OLED Aug 24th 122 call for 1.65
#CoveredCallCampaign Closed on GTC order: $FB Aug 24th 190 call for .15. Sold for 1.35.
DUST calls
#ContangoETFs Put in these orders after the open and they filled as the ETF rose. Wish I’d waited until the close!
Sold $DUST March 15th 60 call for 3.00
Sold $DUST Nov 16th 49 call for 2.50
Sold $DUST Jan 18th 50 call for 4.00
#bearputspreads GOOGL first buy Aug…
GOOGL
first buy Aug 17 1210 put for $1.10
wait an hour sell Aug 17 1200 put for $1.10
cross fingers for tomorrow’s action with no cost and $10 possible gain.
#earnings #ironcondor DE Sold Sept….
#earnings #ironcondor DE
Sold Sept. 21, 120/125/150/155 for 1.18, Deere is at 137
XLK XLY and the new kid XLC
Forgot to post this the other day. A re-shuffle is coming moving around some big names. Might find some opportunity during this….
https://www.investors.com/etfs-and-funds/etfs/sp-sector-reshuffle-play-faang-stocks-xlc/
Taking off my last NUGT position
Bought to close $NUGT Jan 17 2020 55 call @ .60. Sold for 5.60 on 4/11.
In a perfect world gold goes back up taking its supercharged derivative with it so I can sell more calls. At the same time, DUST would implode and I can clear the decks on those positions. Oh and a reverse split for NUGT wouldn’t be a bad thing to add to that recipe. 🙂
DUST
#LongPuts #LEAPS – I tried this with NUGT a long time ago and it didn’t work since I didn’t ratio the position. NUGT was pushing 60 at the time…right idea and wrong execution. I’ll try not to make that mistake here. Sticking with a 3×2 from the beginning since this thing can implode quickly.
Bought to Open DUST JAN 17 2020 40.0 Puts @ 14.50
Sold DUST AUG 24 2018 40.0 Puts @ 1.64
Adding some DUST at new highest strikes
Sold:
$DUST Dec 21 2018 60 calls @ 2.30
$DUST Jan 17 2020 60 call @ 6.50
OLED yuuge adjustment
One I’ve been fighting for awhile. Started out as non ratio #SyntheticStock in 2019 that promptly got run over weeks ago. Gradually worked it back without making much headway. Added a 2020 #LongCalls #LEAPS position on the June pullback. Long story short…weeklies run over again but both core positions combined were nicely profitable.
To clean up the entire mess I booked the gains on the cores and rolled the ITM calls to Jan 2020 ITM put spreads for a nice credit. This will give me many weeks to sell against those put spreads to drastically lower the basis in case the stock is assigned then. I should be able to collect more credit than the width of the spread eventually.
This adjustment also frees up a ton of cash and really simplifies everything…
Sold to Close 2 Jan 2019 115/120/120 synthetic stock positions @ 10.71 (basis 22.49 so loss of $2356)
Sold to Close 3 Jan 2020 105 Calls @ 34.80 (basis 23.18 so gain of $3486)
Net gain on core positions of $1130. I’ll book that and not apply it to this call/put reverse roll:
Rolled Sep 7 2018 96.5 short calls to Jan 2020 145/105 Bull Put Spreads @ 1.66 credit
Original call sales brought in 1.25 so basis on the ITM put spreads is 2.91 on a 40 wide. That’s what I’ll be selling against now over the next 70 or so weeks. Using spread sales to protect against runaway upside.
Sold OLED SEP 7 2018 130.0/135.0 Bear Call Spreads @ .55
#ironcondor TSLA sold Sept. 21…
#ironcondor TSLA #shortputspread #closing ANET
Sold Sept. 21 295/300/375/380 for 2.00, followed Beef at TT
ANET Yesterday sold Sept. 21, 230/240 put spread for 1.39, bought this morning for .85.
RTN
#LongCalls #LEAPS – Ratio’d with this week’s 200 short calls. I’ll be watching it closely. That’s a beautiful squeeze that looks ready to go higher.
GLD
#LongCalls #LEAPS – I’ve been staggering these out over 2-3 weeks selling the ratios. Once the near ones get profitable I put on a stop and sell the next batch. Just killing time with gradual basis reduction until it recovers.
Bought to Close GLD AUG 17 2018 116.5 Calls @ .01 partial fill so far (sold for .50)
Sold GLD SEP 7 2018 114.0 Calls @ .43
Still holding (with profits) Aug 24th 116’s and Aug 31st 115.5’s
DDS is down 14% on…
DDS is down 14% on earnings
NVDA #Supercharger closed #SuperCharger Sold…
NVDA #Supercharger closed
#SuperCharger Sold to close $NVDA Aug 17th 230/240 call spread for 9.25. Bought for 7.55 on July 21st. Took awhile, but taking profit today to clear out before earnings. 22.5% profit.
#rolling With the drop yesterday…
With the drop yesterday can pretty much roll everything instead of letting call out or assign. Bad few weeks for MU and WDC down 11 and 14% respectively. They were converted to #fuzzies so a little easier to manage now but this is the only account showing a drop.
New trade STO SQ next week 70 put for 0.95.
MU 55 leap 50 call rolled a yesterday dropping cost basis to 11.26
WDC 60 leap 65 call rolled yesterday dropping cb to 18.01
EOG 115 put 36 DTE was challenged yesterday. Cost basis 113.2 if assigned.
This made me realize an easier way to manage deep ITM #pietrades is to convert it to a put leap #fuzzy. Takes out the margin requirement. If keeps dropping can manage it to a put diagonal. If reverses can either add a call side or keep rolling the put up. As you do that the margin requirement will increase but still much less than naked puts. If I had done this with MU and WDC instead of converting to the call side I would be making $ now. With any leap strategy, the short option strike is what determines the profit loss at the expiration of the short option. Going forward I think this will be my preferred strategy but only for deep ITM puts (5 points or more). Otherwise will manage as a regular weekly #pietrade.
SPX hedge rolled next week 2550 short put out to 15 DTE for 0.6 credit. Hedge only costs 1.2 now and if we head to 2550 will still make 12k. Hope I don’t need it. Next month will use back ratio or risk twist.
TQQQ batch 1 65 cc expires tomorrow rolled to next week for 0.9 credit. cb now 62.98.
TQQQ batch 2 65 cc expires tomorrow rolled to next week for 0.9 credit. Cb now 63.23
AMAT batch 1 47 cc rolled out 2 weeks for 0.33. Cb 48.91. Few more weeks to cover it.
AMAT batch 2 47 cc rolled out 2 weeks for 0.31 credit. Cb now 45.88 and if I can’t get more than 0.5 on next roll will let it assign and move to another #pietrade
#fuzzy XBI 87 and 95 leaps with rolled the 96 and 96.5 short calls down to 95 for 15 DTE for 1.1 and 10.6 credits. Cb now 7.52 and 4.04 as they were separate batches.
TOS calculates diagonals weird. They are all showing a loss on the graph but nearly 20% reduction in cost in 1 month so make sure you keep track of your cost basis. In the end that is all that really matters with any trade.
Hope everyone is having a good week. Not much to do until next week now. At least I tripled my theta decay with all the rolls.
Taking off some profitable positions
Bought to close:
$OLED Dec 21 55 puts @ .15. Sold for 1.20 on 6/15 and 1.50 on 6/19.
$TPR Nov 16 40 puts @ .26. Sold for 1.55 on 5/1.
$CVS Nov 16 57.50 puts @ .36. Sold for 1.36 on 7/20.
$DISH Dec 21 22.50 puts @ .30. Sold for 1.20 on 5/8.
$IFF Nov 16 110 puts @ .50. Sold for 2.70 on 5/7.
Closing GUSH
Taking one of my December positions off.
Bought to close $GUSH Dec 21 57 calls @ .81. Sold for 4.00 on 5/15 and 6.00 on 5/17.
Still short the 46 calls.
#spxcampaign Morning all Bought to…
#spxcampaign Morning all Bought to close my Aug 17th 2760/2780 BuPS @ .20. A bit of a hairy ride yesterday but I didn’t panic out. Yay! I closed this out today as I’m taking some time off. My daughter flies in tonight from a science conference. She presented her research on birds as part of her grad school requirements. I’ll be back in a week or two. Need to see my brother and put up a violin display piece I made for our mothers violin. It has been a long project and challenged my craftmanship. I have a few TWTR, NUGT and MU calls that will expire tomorrow. I may roll them out to the end of Aug later today. Everything else is long term. So in my best Arnold voice: “I’ll be back.” Have a great couple of weeks. And thanks for all the teaching that goes on here. You guys are the best.
ERX
#LongCalls #LEAPS – First couple rounds of sales were non-ratio’d so already covered a nice chunk of the LEAPS cost. Switching to ratio’d now after the selloff. 3×5 with no upside risk.
Bought to Close ERX AUG 24 2018 37.0 Calls @ .06 (sold for .73)
Sold ERX AUG 31 2018 33.5 Calls @ .75
GLD
#assignment WYNN I was assigned…
#assignment WYNN
I was assigned 100 shares of WYNN from my rolled Sept 21, 155/165 put spread. Who would do such a thing(dividend)? https://www.youtube.com/watch?v=b9AOVdov5lE
AMAT call closed
#PieTrades #Earnings.
BTC $AMAT Aug 17th 46.5 #CoveredCall for 1.97. Sold for 3.56 last week as a roll. Leaving my stock alone for earnings report tonight.
NVDA earnings
#Earnings. Sold $NVDA Aug 17th 240 puts for 2.43.
In retirement accounts, sold 240/235 put spreads for .87
NVDA earnings after the bell
#Earnings. Here are the last 12 quarters’ moves on $NVDA:
May 10, 2018 AC -2.15%
Feb. 8, 2018 AC 6.69%
Nov. 9, 2017 AC 5.26%
Aug. 10, 2017 AC -5.32%
May 9, 2017 AC 17.82%
Feb. 9, 2017 AC -2.37%
Nov. 10, 2016 AC 29.80%
Aug. 11, 2016 AC 5.59%
May 12, 2016 AC 15.20%
Feb. 17, 2016 AC 8.60%
Nov. 5, 2015 AC 13.85%
Aug. 6, 2015 AC 12.37%
Wednesday Trades
#Earnings #Rolling Sold $TSLA Aug 24th 332.5/340 strangles for 18.60.
#CoveredCallCampaign Stopped $FB Aug 31st 180 puts for 3.40. Sold Sep 7th 172.5/187.5 #StrangleRoll for 3.07.
#ContangoETFs Stopped $GUSH Dec 32 put for 6.20. Sold for 5.05 in a strangle-roll months ago.
#StrangleRoll: Sold GUSH Dec 21/45 strangles x2 for 3.87.
Also, closed GUSH Sep 62 call for .10. Sold for 1.60.
#PieTrades BTC $OLED Aug 17th 120 call for .20. Sold for 2.00 on Friday.
BTC $MU Aug 24th 53 call for .10. Sold for .85 on Monday.
Options Bistro 