#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.
Monthly Archives: August 2018
SHAK Earnings
#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.
AMBA
#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
EXAS Jan puts
Sold $EXAS Jan 18 2019 35 puts @ 1.45
TQQQ
@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
TSLA
#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…
$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?
#fallingknife EXAS is down 16%…
AAPL
Apple just past into a trillion dollar market valuation…”a billion here, a billion there, etc.”
#fallingknife TRIP is down 14%…
#fallingknife
TRIP is down 14%
Good premium in Jan for $39 and $40
X is down 10%
#pietrades and #fuzzies MU 2020…
#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.
UVXY call spread
Continuing to work on my SVXY losses.
Sold $UVXY Sep 14 (weekly) 12/15 call spread @ .37
WYNN
STO January 110 puts @1.60
SIVB,CVS
STO SIVB September 300 puts @7.20
STO CVS January 2019, 50 puts @.70 cents
WYNN took advantage of the…
WYNN
took advantage of the drop and STO Jun21’19 80 put for .93
More TT research confirming 45…
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.
RRGB,WYNN
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.
Good morning
It is going to be fun today.
Short Puts TNDM / Short Calls TRTN
#shortputs
$TNDM STO 8/17 30 puts at 3.oo
$TNDM STO 8/17 28 puts at 2.65
#shortcalls
$TRTN STO 8/17 35 calls at 1.60 Continuation of an @thomberg1201 trade. Thank you.
#earnings #shortstraddle X sold Aug….
#earnings #shortstraddle X
sold Aug. 17, 35 straddle for 3.26, TT follow.
Good luck with TSLA everyone, I’ll be back Tuesday.
TSLA
STO BWBF Aug 3 322.5/325.0/332.5 .64 Cr
TT Trade #Earnings
#pietrade conversion to #fuzzy MU…
#pietrade conversion to #fuzzy
MU sold stock for 52.61 against cost basis of 55.33 for 2.72 per share loss. Took the proceeds and bought a 55 2020 call to create a LEAP calendar. Frees up 40k in cash/margin for other trades.
Now my new cost basis adding in the purchase of the leaps at 10.60 is 13.32. Will sell weeklies against it with goal of decreasing cost to zero at some point. Have 75 weeks left (already have short 55 for next week) so that means only need about 0.17 per week to break even. Anything extra is BONUS.
I may do this more often for #pietrades that move a lot and are taking longer than normal to get back to even but I still want to stay in the ticker. MU has good premiums and want to stay in it but did not want to have 1000 shares tying up so much capital.
May do the same with WDC later in the week.
Will keep posted as to how it works out long term.
#fallingknife CAKE is down 13%…
PSX
From Tradewise Volatility Advisory
SELL PSX 31 AUG 18 124/126 BeCS @.67
Question about Butterfly trade. I…
Question about Butterfly trade.
I made a mistake with the strikes when buying a butterfly on TSLA.
I got a DITM Call BTF instead of an OTM Call BTF
August 3rd EXP
CALLS 265/270/275
Total paid $0.23
Is there a risk for holding this trade, other than losing $23?
Is there any benefit for holding this trade?
TOS analyze tab is showing strange numbers.
I tried to close the trade, but no takers so far.
amzn
Sold to open, August 10, 1670/1680 bull put spread at .70 cents.
Hey
I’m still here…just been a crazy week outside the market so far. Nothing much to do anyway…just letting weeklies wind down for the next sales.
Have a great week!
#earnings TSLA Anybody rolling the…
#earnings TSLA
Anybody rolling the dice?
#shortstrangles TWTR Followed from Tastytrade…
#shortstrangles TWTR
Followed from Tastytrade September 21 29/36 for 1.63
#fallingknife #shortputspread IPGP It’s not…
#fallingknife #shortputspread IPGP
It’s not falling today but sold Sept. 21 145/155 for 1.23, currently at 174, was at 240 a couple days ago.
HBI Jan puts
Sold $HBI Jan 18 2019 16 puts @ .50
Anyone noticed TOS freezes for…
Anyone noticed TOS freezes for 5-15 seconds, it started yesterday and today?
Good Morning all
Good Morning all
Good night from Kyoto
This is the first time on this trip I’m still awake for the open.
Sold to close $AET Aug 3rd 190 calls for 1.00. Bought for 1.50, #PreEarnings.
BTC $MU Aug 3rd 55 call for .10. Sold for .80 last week. Looking to replace. #PieTrades
#Earnings:
Sold to Open $SQ 71 calls for .78. Order in to sell the 60 puts. Calls are covered, some with stock, some synthetically with long LEAPs.
Sold $TSLA Aug 3rd 260 puts for 2.75. Looking to sell 330 calls for 2.25 on the bounce.
AMZN
Sold to open, August 10, 1910/1930 bear call spread at .55 cents, adding to my small position.
#pietrade Late post, too busy…
Late post, too busy yesterday and nearly everyday. Work is decreasing my trading profits. s
MU rolled the 55 cc that expires Friday out a week for 0.44 credit. Cost basis now 55.79. 2 more weeks should break even then can decide whether to keep rolling for profits or reset.
I may convert this and WDC when assigned to #fuzzies to free up margin for other #pietrades
Options Bistro 