Per CNBC…SEC settles charges with Tesla’s Elon Musk, will remain as CEO but relinquish chairman role
1680/1700 bull put spread @ .93 cents on 10 contracts. It pays for a nice case of wine.
#LongCalls #LEAPS – Something I’ve started doing on these longer term positions is really working nicely. I’m setting the initial position after a pullback (or run up for short positions) and only starting with about a half position. This allows nice gains if my timing is perfect (ya right! LOL) but more importantly it allows a nice averaging down into the full position and drastically reducing the cost basis (in addition to the weekly selling).
Added another AMAT today:
Bought AMAT JAN 17 2020 50.0 Call @ 2.43
I’ve added 3 times now. Original half position at 7.70 and adds at 2.55, 2.55, and 2.43 reducing basis to 5.75 overall. Weekly sales have further reduced this to 4.12 with the position out to 2020. LEAPS are trading at 2.40 now so slightly underwater but not nearly as bad as it would be had I gone all in from the beginning.
AMBA is an even better example. Original position at 11.20 with adds at 11.00 twice to get to a half position. Added the other half after the implosion at 5.20 and 3.40.
New basis is 7.44 with weekly sales reducing that to 3.93. The LEAPS are trading at 4.65 so the position is actually profitable in spite of over a 30 percent selloff since starting the trade. What really helped was piling into my full position on the big earnings drop on Aug 31st. Actually caught the bottom there so a big help.
Same thing with the DUST short position. Started at 14.50 with adds at 14.20, 14.00, 13.49, and 12.50 getting to only an 80 percent position but the trade is nicely profitable already.
#OptionsExpiration – Had a few this week…
AMBA 39 Calls (sold for .70)
EWZ 35 Calls (sold for .46)
LABU 98.5 Calls (sold for 2.10)
PYPL 88.5 Calls (sold for .75)
SMH 106.5 Calls (sold for .77)
XBI 97.5 Calls (sold for .80)
$MTN BTC 10/19 310 calls at .10 STO at .90 Earnings looked good but street freezing the stock out
$CAT 130/120 bull put spread
$DUST 49 calls
$SPXW 2930/2950 bear call spread
That’s it for this week. Have a relaxing weekend.
$SPX just finished its best quarter since 2013. It didn’t really feel like that.
“For the quarter, the S&P 500 rose 7.2 percent, its best quarterly gain since fourth quarter 2013. The Nasdaq also notched a 7.1 percent quarterly gain, its best since first quarter 2017. The Dow outperformed in the third quarter, rising 9.3 percent.”
#PreEarnings I wasn’t planning on increasing size on this, but I’m getting such a discount today that I figured why not. If we don’t bounce by Monday or Tuesday, this won’t be looking too good.
BTO $JPM Oct 12th 116 calls for .50, adding to my position, started yesterday for 1.14.
#Earnings Closed my remaining $TSLA Oct 5th 275/322.5 strangle for 19.92. Was trying to work a decent exit when it was reaching its intraday high, but missed my fill. Then got caught in the steep dive for a crappy exit near the lows.
Partial roll: Sold Oct 12th 250 put for 11.30.
I’ll wait to see Monday before adding more.
Rolled EOG 115 put 35 DTE out to 42 DTE and 120 for 0.96 credit. Cost basis now 8.17 and my long 115 puts are worth more than that so technically this has broken even after 6 weeks. Rather than close it will keep it rolling. Can’t say I have ever taken a #fuzzy to full expiration but may be fun just to see what happens. Everything now should be income and can probably scratch the trade in another 12 weeks.
Could probably do the same with MU but will wait 1 more week the short still worth 0.68.
ESPR STO 10/19/18 50.0 CALLS @3.20 Will cover if necessary.
BTC ISRG Oct 26 lophir @ 1.80. STO @ 3.60. Hit 50% profit target
BTC NVDA Oct5 lophir @ 1.00. STO @ 3.35. Hit 70% profit target.
Or falling something–CEO credibility, board of directors credibility, stock price, etc. Taking a shot at a crazy out of the money strike in Nov.
Sold $TSLA Nov 16 80 puts @ 1.13.
I doubt it gets down there but if so I might buy the stock at 2013 prices.
Delta of the 80 puts is 1.5.
BTO AMZN 19 OCT 18 1920/1925 BuCS @3.96…GTC order in to close @4.70
STC Sept 28 1157.5/1160 Calls 2.48 BTO @ 1.71 #supercharger
Margin reduction trade, did not have to do this but was using up a ton of buying power.
With 120 weeks left to trade only need 0.124 per week for zero cost basis. I will still manage these as 43-22 DTE PIE ladders, just hedged.
Also rolled Lot 2 LNG 66 cc out 14 DTE for 0.63 credit. Cost basis 63.6 now.
That’s all for me until next Thurs. unless someone points out a really good trade before then.
BTO NFLX 10/12 357.7/362.5 BuCS @3.95. GTC order to close @4.70
Bot MSFT lophir as #2 holding in XLK, one of the top 3 sector ETFs based on last 3 months.
BOT Oct26 +1/-2/-1/+2 112/111/108/105 PUT/PUT/PUT/PUT @-1.15 x2. GTC order to close @ -.34
Another way to look at this trade is to buy 112 put x1, sell 111 put x2, sell 108 put x1, buy 105 put x2. In ToS, I create a custom trade one leg at a time and open all four legs as a single trade.
XBI…BTC 9/28 97 Call @0.02…STO 9/18 @0.62.
XBI…STO 10/5 97.5 Call @0.39.
EWZ…Rolled 9/28 34 Call out to 10/12 35.5 Call @0.39 Credit.
Bot C Oct12 74.5c @ .58 x4. Second layer on pullback.
Bot JPM Oct12 117c @ .59 x4. Second layer on pullback.
Bot DIA lophir based on top performing index ETF for last 3 months.:-)
Nov2 1/-2/-1/2 262.5/260/257/253 PUT/PUT/PUT/PUT @ -.77 x4. GTC order to close @ .23
STO November 16, 1700/1720 bull put spread @ 1.90
TSLA buy back Sept 29 260 put for 0.60, sold hour earlier for 1.72, looking for price drop to reload.
Early July I sold a 75 put, rolled it on the way down to Oct., assigned last night, basis of 73.70 grrrr
Got lucky yesterday and sold Sept 29 300/310 spread for $6.60, looks like a winner.
Today I sold BuPS 260/250 for $1.15, considering buying back for 0.40 now.
I loaded up a BeCS 280/290 for $1.00, now 1.20 but the risk seems too high – finally a little prudence in my trades.
BTO Oct 5 1970/1972.5 Calls 1.81 #supercharger
BTC $TSLA Oct 5th 322.5 call for 1.01. Sold for 5.44 (avg price) earlier this week.
Still sitting on an Oct 5th 275/322.5 strangle.
STC October 5, 247.5/257.5 bull call spread @9.55, bought at 8.25
Hat tip to Jeff for the idea.
Closed this for .19 today
BOT +1 +1/1/-2/2 NFLX 100 19 OCT 18 360/355/340/335 PUT @-.66
Order BTC .19 30% of credit. Think I got this correct.
$MPC STO 11/16 77.50/82.50 BUPS at 1.70
#SPXcampaign Sold to Open $SPX Oct 12th 2825/2850/2960/2985 iron condors for 4.25. This is my third round of 2-week-DTE condors, replacing one that is expiring tomorrow.
Rolled my Sept 28 225 Call to 5 Oct 225 Call @1.65 Credit.
Selling against Jun 20 215 Call which needs 0.38 per week to cover.
Sold $BOIL Jan 18 45.00 calls @ 1.50. Adding to position at the highest strike.
Sold AMAT OCT 26 2018 41.0 Calls @ .43
Rolled LEAPS out to 2021 and continuing to sell against.
Sold DG OCT 12 2018 113.0 Calls @ .60
Sold DG OCT 19 2018 112.0 Calls @ .65
Closed position since it’s near resistance. Made .73 per contract on a little quickie.
Rolled EWW SEP 28 2018 48.0 Calls to OCT 19 2018 48.5 Calls @ .14 debit (ratio’d)
Sold GLD OCT 19 2018 113.5 Calls @ .52
Bought to Close OLED SEP 28 2018 140.0 Call @ .05 (sold for 1.32)
Still running a #PerpetualRollingStrangles on this one….
Sold TLT OCT 26 2018 119.0 Calls @ .40
Still messing with a #CoveredCalls position…
Bought to Close WTW SEP 21 2018 70.0 Calls @ .23 (sold for 2.45)
Sold WTW OCT 5 2018 68.0 Calls @ 3.23
SWK is new to my pre-ER list but it has amazing stats for the last four quarters. I’ve run at least 20 setups on this ticker and all are winners. So with their confirmed earnings date of 10/25 am, I’m going to start building a position. This layer is tiny.
Bot SWK Oct26 155c @ 1.90 x1
STO IC Sept 28 2945/2950 2885/2880 .40
$NKE STC 9/28 77.50/87.50 BUCS at 7.20 BTO at 5.45
#PreEarnings Bought to open $JPM Oct 12th 116 calls for 1.14.
Got this from MamaCash’s excel sheet… buying 40-delta call, 14 days out. The pullback in the stock over last few days provides decent entry for a run up into earnings, which are the morning of the 12th. I’ll plan to close the trade before the market close on the 11th. I’ll look to take profits if stock approaches its recent high of 119.24.
EXPE adding second rung to PIE ladder.
STO the 43 DTE 125 put at 2.90 and still short the 126 from last week at 2.95. Goal with these is to have 3 weeks rolling and as they approach 22 DTE roll them back to 43 DTE. Instead of a weekly #pietrades more like a conveyor belt running from 43 down to 22 DTE. Better premoiums by going out farther, less chance of going ITM, less adjusting, and less gamma risk. Experimenting with a few names based on the Tasty trade research of 45-22 DTE as the best decay rates for OTM options. Currently selling the delta 30 option if trending up on 4 hour chart and more like a delta 20 if pulling back.
TQQQ lot 1 65 CC rolled out 22 DTE for 1.15 credit. Cost basis now 62.05.
LNG lot 1 66 CC rolled out 15 DTE for 0.44 credit. Cb now 64.23
TQQQ lot 2 65.5 cc rolled out 22 DTE for 0.75 credit. Cb now 62.40
LNG 50/66.5 LEAP rolled out 15 DTE for 0.68 credit. Cb now 18.57
LNG lot 2 cc may try to roll tomorrow or just let call out depending on what market does.
Have a good week, have 2 days off, going outside to bike 60 miles.
Whiz must need more subscribers to pay for a new boat, just received FXI BCS 44/43.5 Oct 12 for 0.27. Not taking it but know some of you follow him.
TNDM BTO STOCK 44.80 To test the waters, just a teeny bit, an add. Holding basic position for now.
September 13, sold a September 21, 42.50 put for 1.73, DUST dusted me and went down, September 18 rolled it to September 28, bought today for a gain of $41.
ETSY BTO STOCK 52.64 A day trade.
Closed on GTC orders:
$SQ Oct 5th 82 puts for .10. Sold for 1.00 on Sept 14th
$MU Sep 28th 45 covered call for .08. Sold for .90 last Friday
#SuperCharger Sold to close $GOOGL Oct 5th 1140/1150 bull call spreads for 9.55.
Bought for 6.85 on the 17th, after rolling from the Sep 28th 1155/1165 spread.
BTC September 28, 1130/1150 bull put spread @ .15 cents. These are the ones I rolled last Friday at 3.60 credit. I am happy to be out of this one as anything can happen in the next 2 days.
STC Sept 28 1897.5/1900 Calls #supercharger 2.45 BTO 9/21 1.90
Should be a low volume day because of hearing drama in DC
#VXXGame Filled right after the bell (since VIX ETF options stay open until 4:15p):
STO $UVXY March 75 call for 5.00. Highest strike.
STO FAS Oct12’18 65 PUT 0.47
Borrowing an idea from TastyTrade. Selling premium in South Korea.
Sold $EWY Oct 19 68.00/68.50 strangle @ 2.13.
I will treat this like a straddle and take it off at a lower profit target (something around 25%). Breakevens 65.87 and 70.63.
#ContangoETFs Sold to Open $BOIL Jan 2019 45 call for 1.25. Highest strike.
STC on GTC order 10/5 340/345 BuCS @4.70. BTO 9/18 @3.98 #supercharger
STO $FB Oct 19th 172.5 calls for 2.00
BTC $OLED Sep 28th 124 call for .15. Sold for 1.65 on Friday
BTC $TSLA Sep 28th 275/322.5 strangle for 1.10. Sold for 8.20 on Sep 17th.
STO $TSLA Oct 5th 322.5 call for 5.60, adding to my position. Will sell another put on a down move.
$GOOGL BTC 9/28 1140/1160 BUPS at .50 STO at 5.75 on 9/14 This was a roll of the 9/14 1160/1180 Net loss on transaction of 1.80 per contract. Might have kept rolling but half a bird in hand worth something. If I closed out original 9/14 trade per contract loss would have been 7.12. Thank you @jsd501 for your tutelage.
Sold $SQ Oct 19 90/85 bull put spread for 1.18 to offset my now in the money 90/95 bear call spread. I may have to stop trading this one. Can’t seem to get it right.
BTO January 2000, 370 calls and STO October 19, 390 calls for a debit of 43.00, adding to my position.
Square up +11%
STC #supercharger Sept 28 1147.5/1150 Calls 2.40 cost 1.90