#OT Pattern Day Trader in…

#OT Pattern Day Trader
in a small account, I followed MamaCash on a LopHir and got flagged by IAB for too many day-trades. They count LopHir as two day-trades! Same for an Iron Condor, if you opened a spread it is one day-trade. Didn’t think of it as Tastyworks counts it as a single trade. I called and got already reset, but that makes things very complicated. Are the other brokers interpreting the rule as IAB does?

Downside Warning

#VIXindicator A downside warning is enacted today, since we closed at over 25% of Wednesday’s close (2-day closing low).

This new Warning resets VIX levels. The Warning would be canceled with a new SPX high above 2,940.91, or a close of the VIX of 12.44 or lower, with three consecutive closes leading to an Upside Warning.

Happy weekend to all!

Let’s meet here on Monday for a Traders Anonymous recovery meeting. lol.

MU expires

#LongCalls My shot at a long trade didn’t pan out. This is why I never used to buy options; too hard to determine when to close. Could have taken only a small loss had I sold at the right times Monday, Tuesday, or Wednesday! How many times does the market have to tell me before I’ll make the move?
Expired: $MU Oct 5th 45 long calls, bought for 2.02 on Sep 14th.

#optionsexpiration Afternoon. Just a couple…

#optionsexpiration
Afternoon. Just a couple expiring.
NUGT 10/5 14.5 Calls sold @ 0.47
MU 10/5 47.5 Calls Sold @ 0.32

A TRADE:

TNDM BTO STOCK @36.78

WTW

#CoveredCalls – Right down to the wire. Took the stock with a basis near 80 but aggressive weekly selling has kept the position at near even all the way down.

Bought to Close WTW OCT 5 2018 68.0 Calls @ .39 (sold for 3.23)

Sold WTW OCT 12 2018 68.0 Calls @ 1.89

That’s it for my week. Have a great weekend everyone!

Expirations

BABA, 185 calls

LABU,  115 calls

I am off to the gym so have a nice weekend to everyone.

CAT

#pre-earnings

Added 2nd layer of CAT 10/26 165 calls @.96 to position opened yesterday. Thanks @MamaCash

#preearnings

PVTL covered calls

#CoveredCalls Sold to Open $PVTL Oct 19th 20 calls for .45.

#OT

Over on SMM, someone posted that Gartman turned bullish 3 days ago. What an indicator?

PYPL

#LongCalls #LEAPS – Double selling the weeklies here also. Stops set on previous positions at 50-75 percent of max gain. Adding again prior to earnings and selling up in congestion.

Sold PYPL OCT 12 2018 85.0 Calls @ .51

TLT

#PerpetualRollingStrangles – On the last pop in TLT I bought a bunch of disaster puts to help out with the DITM short puts. I’m rolling them down a couple strikes to insure a double on the position but leaving the rest on for a free shot at more downside. Was tempted to close it all for a 5 bagger but prefer leaving some protection on.

Rolled 20 TLT NOV 16 2018 110.0 Puts to NOV 16 2018 108.0 Puts @ .33 credit (bought for .15)

SOME TRADES:

ROKU STO 10/12/18 69.0 CALLS @.94
ROKU STO 10/12/18 70.0 CALLS @1.00
TNDM STO 10/12/18 38.8 CALLS @1.05

#spxcampaign #ironcondor Afternoon all. Popping…

#spxcampaign #ironcondor Afternoon all. Popping in here to check up on the day. All three of the call sides of my IC’s were closed. SPX Oct 15th 2985/3005 and SPX Oct 17th 3020/3000 @ .20. AMZN Oct 19th 2160/2180 @ .30. These offset some of the losses from the Put sides taken yesterday.

CAT LMT MSFT SWK

Added second layer for pre-earnings on this pullback (or should we call it a correction). Parameters for my trades in the spreadsheet if you’re interested.
#pre-earnings

UVXY

#BearCallSpreads – Added to yesterday’s starter…

Sold UVXY NOV 2 2018 45.0/55.0 Bear Call Spreads @ 1.92

NFLX, AMZN

Closed both NFLX and AMZN #superchargers

STC NFLX 12 OCT 357.5/362.5 BuCS @1.65. BTO 9/28 @3.95

STC AMZN 19 OCT 1920/1925 BuCS @1.94. BTO 9/28 @3.96

Adding to MSFT

#PreEarnings Bought to open $MSFT Oct 26th 116 call for 1.15, adding to the position started yesterday.

VFC pre-earnings

VFC confirmed ER today so adding a small position for the 14/1 setup.
Bot VFC Oct26 95c @ 1.15 x2 (first of four possible layers)

#preearnings

SuperChargers stopped

#SuperCharger STC $REGN Oct 26th 380/390 BuCS for 5.57. Bought for 7.35 on Tuesday.
STC $AMZN Oct 19th 1880/18890 BuCS for 5.00. Bought for 7.25 yesterday.

I’ll look to add these or others back when it appears a bottom is in.

New VIX highs

Intraday levels highest since late June.
Downside Warning in effect if we close at 14.52 or higher.

Closing IWM

Bought to close $IWM Nov 16 170/180 BeCS @ .63. Sold for 1.71 on 10/1.

SQ long calls sold

#LongCalls A bright spot, sold $SQ Jan 2019 60 calls for 35.25. Bought for 3.51 average price between last November and January. My attempts at short term diagonals ended up being a loss overall since this stock had such wild swings and blew through my calls a few times. So cost basis is actually increased to around 5.50.

Liquidate!

Had a come to Jesus moment at about 2 in the morning. I realized I needed to consider dumping a lot of positions. My account size has not budged much in the last couple months… money I’ve made in options has been sucked away by too many crappy stock positions. Other than AAPL and SQ, stock has not been good to me, all #PieTrades I have tried, rather Earnings repair or from scratch, have been huge dogs.

So I just dumped almost all stock positions.

Winners: $AAPL, $SQ
Losers: $FB, $BABA, $OLED, $MU, $OLED, $YY, $AMAT

Fortunately, other than $FB, the losers were all only 100 shares. AAPL and SQ were both 200. My FB losses were minimal since I have sold covered calls for a year on 100 shares, getting that lot down to 105.00 cost average. I then had more shares added in August earnings dump.

Now I can focus on strategies that I have more control over, rather than the whims of stock prices.

I’m still in options positions in $BOIL, $GUSH, $DUST. Also long calls in $PYPL (Jan 100’s, not doing well). Sticking with pre-earnings trades in $CAT, $JPM, and $MSFT. Long stock in $PVTL, since its so cheap. And a few #VXXGame short calls, and my long running long puts, the $VXX Jan 20 puts, which have lost so much potential in this volatile year.

Dumped underwater short puts in $RH. That symbol has simply killed me, I must quit it!

Also, closed $SPX Oct 12th 2825/2850/2960/2985 condor for breakeven at 4.15.

I’m looking to exit the #SuperChargers since short strikes have been breached, in $AMZN and $REGN.

#pietrade

AMZN

STO October 19, 1580/1600 bull put spread @.55

STO October 26, 1580/1600 bull put spread @ 1.27

If they get down here I will keep rolling, rolling, rolling.

TLT

#PerpetualRollingStrangles – Triple selling these against the DITM puts. Last two batches of short calls are very profitable with stops set so adding another.

Sold TLT NOV 9 2018 116.5 Calls @ .47

Addtacat

#PreEarnings Bought $CAT Oct 26th 165 calls for 1.20, adding to the position started yesterday.

LABU

STO October 19, 92.5 calls @ .80 cents. These will replace the 115 calls that expire today. I have covered 28% of my cost of the 115 calls in 2020 and have 65 more weeks to go.

September Jobs Report

#Jobs Lower than expected, but previous months boosted higher, and unemployment reaches historic lows.

+134,000 non-farm payroll jobs, vs. 180K expected
Unemployment falls to 3.7%, down 0.2%, lowest since 1959
U6 unemployment at 7.5%, up by 0.1
Wages up 0.2%, 2.8% year over year, 0.1 lower than August
Labor force participation 62.7%, no change

July increased 147K to 165K
August increased 201K to 270K

Good Morning

Good Morning