Not much

Sat on my hands today… I don’t know whether to short or go long… need another day!

#ContangoETFs
BTC $DUST Nov 16th 49 call for .25. Sold for 2.50 on Aug 15th.
BTC $DUST March 15th 60 call for .80. Sold for 3.00 on Aug 16th.

Bought to Open $UVXY Nov 9th 112 call for 1.30. A hedge against short calls. I’d rather be selling it, but gotta stay safe!

#earnings #shortstraddle CREE Sold Nov….

#earnings #shortstraddle CREE

Sold Nov. 15, 35 straddle for 4.49.

#earnings #longput MS bought Oct….

#earnings #longput MS
bought Oct. 19, 42 put for .23, roll of the dice

TQQQ

BTC October 19, 66.5 calls for .02 and sold October 26, 57 calls for 2.93 against my 2021 60 calls that I am long.

UVXY

#LongPuts #LEAPS – I just can’t help myself. Feel like I have to do more to take advantage of this spike. Going out to 2021.

Bought UVXY JAN 15 2021 50.0 Puts @ 29.60

Sold UVXY OCT 19 2018 50.0 Puts @ 2.35

Oil trades

Taking some profits out of /cl and freeing up margin.

60 DTE 58/91 strangle BTC for 0.25. Had been sold for 0.42 but I rolled the put side down costing 900 so profit was $150 in less than 2 weeks.

30 DTE 60/84.5 stragles BTC for 0.18 sold for 0.22.

So made back my losses earlier in the year and am now + on /CL for the year by $200. Hey at least it is positive.

But here is something to think about. I re-read sections of the option sellers book, they mostly focus on selling futures options and they had 56% returns last year verified. Most years they do 40-50% and a lot less trading than most of us. They like to start ladders 90 DTE and each month add new rung.

The premiums are huge on futures. The issue is not a lot of weeklies and harder to roll. But looking at oil today the 93 DTE 58/87 or roughly delta 7-8 options. Can be sold today for 0.72 credit. Oil is $10 per 1c move per contract. So a 10 lot is $100 per 1 cent move.

Anyway at 60 DTE it has already decayed to 0.50-0.53 by 60 and 0.12 at 30 DTE. So the largest drop occurs from 60 to 30 days but the drop from 90 to 60 days is not chump change. Also can be farther OTM which usually requires less adjusting. So a 10 lot would bring in $7200 cash minus commisions and could buy it back roughly 28 days later for $5300.

At 60 days the options are roughly delta 5s and by 30 they are down to 2.

I am starting to look at this again but only for regular accounts with margin. Will not let you touch futures options in IRA etc.

I may put a 1-2 lot on /CL 93 DTE today just to watch it happen in real time.

REGN

#ShortCalls – One small sale against some put spreads. Looking to add one more on a bounce and staying just prior to earnings. Other than that, a slow day.

Sold REGN NOV 2 2018 410.0 Call @ 2.50