#earnings #shortstrangles VLO sold Nov….

#earnings #shortstrangles VLO

sold Nov. 16, 75/100 for 1.19


#VXXGame Throwing one more out there…
Sold $UVXY March 112 call for 8.75. Adding to one sold for 5.25.

#shortcallspreads IYR IYR up today,…

#shortcallspreads IYR, SMH

IYR up today, sold Dec. 21, 78/80 for 1.00
SMH sold Dec. 21 90/95 for 2.26


#LongPuts #LEAPS – One good thing about UVXY staying strong…getting the long LEAP puts paid down a little. More on that later.

Bought to Close UVXY OCT 26 2018 51.0 Puts @ .10 (sold for 2.10)


Two that I wouldn’t mind selling off a little….jeez 😦 Up strong on a lousy day.


Sold $NVDA Jan 18 120 puts @ 1.32.
Stock down 30% this month. Is it going down another 40% between now and January? Delta is 04. Basis would be around the 200 day moving average if assigned. In that unlikely event I’d be loading the boat with NVDA <120.

New low on SPX

But pretty far below the VIX highs. This is somewhat typical… the VIX will often spike to its highest point on the first major downdraft of a correction, the calm a bit even though the index sinks lower. We need a strong flush in the market to get this correction behind us. Although we just went lower on SPX (and NDX, and Dow yesterday) it doesn’t seem like that capitulation panic we usually get at the bottom.