#earnings #ironbutterly JPM
sold Oct. 19 100/108/108/115 for 4.16
Monthly Archives: October 2018
Lightening up on DUST
Had a lot of short call exposure so with a 20%+ down day I thought it would be a good idea to take advantage and lighten things up a bit.
Bought to close:
$DUST Nov 16 49 calls @ .35. Sold for 1.60 and 2.00 on 8/15.
$DUST Dec 21 60 calls @ .39. Sold for 2.30 on 8/16.
#longcalldiagonals First step Bought SPXL…
#longcalldiagonals First step Bought SPXL Jan 2021 46 Call @ 12.00. 1 comtract (Only contract today). I will cover as thing recover. Also Trying for TQQQ but no bites.
Taking off FXB finally
Bought to close $FXB Oct 19 129 puts @ 1.15. Sold for 4.02 as a rollout on 9/5.
This was rolled twice. Recovered losses from July and September–total profit .45. Tough trade but glad to be out for a profit. It was also quite the margin hog so it frees up a nice amount of buying power. So I got that going for me. Which is nice.
SPX put spread closed
STC $SPX Oct 12th 2725/2700 bear put spread for 4.35. Bought this morning for 1.90. Missed the lows, waited for the bounce to fade, then it didn’t fade, so I bailed. Still have some SPY puts down at 270 which will work if we can get another flush.
Day trade shot
Bought $SPY Oct 12th 270 puts for 1.55. Will sell it if we get another flush down, or hold overnight if we don’t.
#UVXY Jeff, wow, this is…
#UVXY
Jeff, wow, this is the time of UVXY today went nearly +10 then back a bit
#shortputspread AMZN Tradewise recommendation, sold…
#shortputspread AMZN
Tradewise recommendation, sold October 19, 1637.50/1640 put spreads for .63.
T2108 update
Now at 13.34. Not yet single digits @jsd501 but an impressive pullback (near 8% at the lows) nonetheless.
For those unfamiliar with TC2000, this indicator is the % of stocks above their 40 day moving average.
A few trades
#ContangoETFs
BTC $GUSH Dec 57 call for .75. Sold in May and July for 5.35 (avg price)
BTC $DUST Nov 16th 60 call for .15. Sold for 1.95 on Sep 5th.
#VXXGame
STO $UVXY March 95 call for 10.15
#CoveredCalls
BTC $PVTL Oct 19th 20 covered calls for .05. Sold for .45 last week.
Went for bike ride, everything…
Went for bike ride, everything had turned green. Came home thought there may be a double/triple bottom forming then it looks UGLY now!
Really wish I had kept the hedge insurance on, but way too expensive now.
ERX STO ERX Oct26’18 29…
ERX
STO ERX Oct26’18 29 PUT $0.55
STO ERX Jan18’19 25 PUT $1.25
STO ERX Nov16’18 27 PUT $0.80
STO ERX Dec21’18 26 PUT $1.15
You can do better now.
SWK pre-earnings
#Pre-Earnings Bought $SWK Oct 26th 140 calls for 2.00. Earnings are Oct 25th. This looks like the top performer on Mama’s chart. Starter position, will add more.
Updates rolls and adjustments, just…
Updates rolls and adjustments, just trying to pull some cash out of the market until it stabilizes. Paper losses are high but everything hedged so as we approach expiration the paper losses will improve.
#shortstrangles
/CL added 34 DTE 60/84.5 strangles for 0.22 credit. On oil I have finally figured out the best way to trade it is take profits early, re-enter later if you want back in. Adjust early if it is going against you. The theta decay is wicked fast. 5 contract strangles is roughly $100 a day in decay so as long as it stays in your range you can take some profits early. Closed previous strangles last night for $900 profits in 9 days even with oil moving. Just reset the strangle this morning.
#fuzzy
WDC 60/58 LEAP cost basis 15.41. Sitting on this until closer to expiration.
MU 55/50 LEAP cost basis 8.67 so not expensive but MU has SUCKED. I will adjust it once the short options are under 0.2, soon I suspect.
EOG 115/120 put leap at 14.88. May adjust back 115 depending on where it is at expiration.
EXPE 125/125/126 LEAP cost basis 14.88. Just waiting for theta decay to kick in.
LNG 50/66.5 LEAP cost basis 17.24
XBI 95/97 LEAP adjusted to 95/95 for 0.25 credit. CB 3.37 and 99 days left to manage but this is red on paper.
87/95 LEAP cost basis 4.33 and same as above
95/95 LEAP cost basis 0.85
#pietrades
TQQQ lot 1 65 cc rolled down to 63 CC and out to 22 DTE for 1.4 credit. CB 60.65
TQQQ lot 2 65 CC rolled down to 63 same as above. CB 61
LNG lot 1 66 CC rolled out 8 DTE for 0.53 credit. CB 63.07
LNG lot 2 66 CC rolled out 8 DTE for 0.63 credit. CB 63.63.
Biggest paper losses are the 401k as it is half bonds and half stocks but I can’t trade my way around the dip in those. My 6 trading accounts are not doing too badly 🙂
Just a few observations, my accounts that are much more concentrated are doing better. Not saying put all your eggs in 1 basket, but 1 basket is certainly easier to watch and adjust.
Aggressively collecting income and rolling options helps keep cost basis down and brings in cash even when the market dumps. Also helps offset bad timing.
Picking the right horse makes a difference. I am going to pay a lot more attention to sector rotation. My oil and gas trades are saving my bacon at the moment.
Hope everyone is doing ok with this and has some cash for when a floor is put in 🙂
SPX call spread closed
Bought to close $SPX Oct 12th 2800/2825 call spreads for 5.40. Sold this morning for 9.00. Holding on to the long puts for another drop.
Did a hedge fund or…
Did a hedge fund or something blow up? The last few days are obviously not retail selling. I did not see any news about a fund crashing but that’s what these candles look like.
TOS question
For small accounts, where can I see my day-trade counter?
T2108
Does anyone know where the T2108 is trading this morning?
New UVXY strikes, hedging
#VXXGame UVXY added strikes up to 95 in all expiries. $VXX up to 58 or 60.
Bought $VXX Nov 2nd 58 calls for .62
Bought $UVXY Nov 2nd 95 calls for 2.09
These are a minor hedges against UVXY short calls. I don’t have many yet but will add more if it gets higher.
#longputs MCD STC Oct 19…
#longputs
MCD STC Oct 19 167.50 for 3.20 bot yesterday for 1.00 maybe too early but concerned with theta decay and no further movement.
#longputspread STC DIA Oct 19…
#longputspread
STC DIA Oct 19 $1.80 bot yesterday 1.70 price stalling out so took small profit.
#longcallspread STC SPY Oct 19…
#longcallspread
STC SPY Oct 12 280/285 for 0.70, bot yesterday 1.70, bounce didn’t materialize so cut loss.
SPY long
#LongCalls Bought to open $SPY Nov 16th 285 calls for 2.71. This is grounded in the belief we’ll be reaching for new highs by the end of October. Pretty cheap play that will be a double if we get back to 2900 on SPX.
#shortstock #closing BOX Oct. 8…
#shortstock #closing BOX
Oct. 8 sold short 100 shares of BOX at 19.93, covered this morning at 19.04.
SPX short
#SPXcampaign Sold $SPX Oct 12th 2800/2825 bear call spreads for 9.00. Short-leash idea that we’ll go lower today.
/CL
Closed out the 30 DTE 64/88 strangle for 0.41. $900 profit in under 10 days. Left the 65 DTE open.
Futures down big after hours so just freeing up some cash for hopefully a bottom soon.
SPX chart….
My SPX Chart for this current sell off…as is usually the case, on oct 4th, teh indicators I use called for a reversal at the top..see the white Line, as it intersected teh ADO and DPO moves to the downside..after a double top retested the 2940, the dam broke down…and as usual, I took advantage of the sell off based on my chart indications….
I think every financial pundit…
I think every financial pundit has said that “the market doesn’t know you or care about you, etc.” so it’s not about you. Hmm, occasionally I ponder that thought because…the last crash – SVXY dump in Feb – was on my birthday, today’s dump is our 37th wedding anniversary…no coincidence, right?! Carol’s birthday comes on Dec 5th, so I’m advising you now to put your stops in for Dec. just in case the market has a TGT on my back?
I’m very thankful that we’re not hunkered down, fighting to survive Cat 5 Hurricane Michael, and if you are in it’s path take cover and stay safe.
Fear and Greed
Yeah I would think so.
TNA
#ShortPuts – Same strike for better premium….
Sold TNA JAN 18 2019 60.0 Put @ 4.00
Fugly
#VIXindicator An additional triple warning at the close, following through on Friday’s first warning.
SOXL STO SOXL Nov16’18 65…
SOXL
STO SOXL Nov16’18 65 PUT $0.85
STO SOXL May17’19 70 PUT $7.80
STO SOXL Feb15’19 70 PUT $4.80
STO SOXL Dec21’18 70 PUT $2.80
SPY
BTO Oct 24 Calls 281/283 $1.05
Last Trade:
ESPR BTO STOCK @45.60 A starting position. Have taksan, ;>) short call and put positions.
Adding to SOXL
#ContangoETFs This is one of the few short options positions I’m managing in this correction…
I have a few #VXXGame positions, but other than that my shorts are mostly calls in commodity ETFs that aren’t as affected by the selloff.
Sold $SOXL Dec 85 put for 5.40.
Sold that for 1.60 more than I sold the Dec 90 put on Monday.
TQQQ
BTO 2021 60 calls @ 19.50
VIX long puts
#VXXGame Not something I’ve done before,
Bought to open $VIX Oct 30th 16 puts for 1.30. A bet we’ll be back below 12 by the end of the month. I’ll add more if I can get the price down closer to 1.00.
SPY calls
Not my usual type of trade but playing an oversold bounce into the close.
Bought $SPY 10/12 280 calls @ 2.62. Will keep a tight leash on it, stop at 2.50.
Dump!
Big day. Time to turn on CNBC and watch them all freak out. The British host seems so calm, though.
LABU STO LABU Oct19’18 55…
LABU
STO LABU Oct19’18 55 PUT $0.90
TQQQ STO TQQQ Oct19’18 50…
TQQQ
STO TQQQ Oct19’18 50 PUT $0.60
TQQQ
STO October 66.5 calls @ .60 against my 2021 long calls.
Afternoon. #spxcampaign BTC my Oct…
Afternoon. #spxcampaign BTC my Oct 19th 2940/2960 BeCS @ .30. Opened yesterday at 1.65. This makes the IC profitable.
XBI, EWZ.
VIX Game
Bought VIX Oct17 20/25 BuCS @ .63 avg price for insurance to protect against another big leg down in SPX.
#vixgame
UVXY adding
#VXXGame Sold $UVXY Jan 2020 85 call for 14.15. Highest available strike.
SPX-it
#SPXcampaign Stopped out, $SPX Oct 19th 2790/2765 put spreads for 6.05. Sold this morning for 3.25.
Basically I just lost the same amount that my call spread is winning me.
Will look for better entries at a better time. Now is not it!
TQQQ
BTO January 2021, 60 calls @20.50
AMZN
STO October 26, 1550/1570 bull put spread @ 2.15
Doubling Down
#PreEarnings Well, you gotta pick a bottom sometimes… actually, you don’t really, but I did. Doubling down on my two lowest priced long options trades. These report Oct 23 & 24, respectively.
Bought $CAT Oct 26th 165 calls for .29. Avg cost now .827 on a double sized position.
Bought $VALE Oct 26th 15.5 calls for .44. Avg cost .477 on a double size.
Adding to TQQQ
#LongLEAPs Bought $TQQQ Jan 2020 66.67 call for 12.60, adding to my first one I bought for 17.60 last Thursday.
Closes and adjustments
Closed WMT and UNH lophirs for profit.
Closed half of SSO lophirs for loss.
Adjusted ADBE, AMZN, DIA, GOOGL, ISRG, MSFT, NFLX, and remaining SSO lophirs with call credit spreads and long puts. Adjustment goal is to extend range to the downside and neutralize rising deltas.
It’s been a tough week for my positions. Down but not out.:-)
DENN
Denny’s is up today, apparently the flight to quality is from AAPL, ANET, AMZN–to Dennys!
VIX hedge
#Hedge – I didn’t think this would pay until the election. It may do better but I’m booking it while it’s nice and green.
Sold 10 VIX Nov 11/13/17/21 double verticals @ .56 (bought for .10)
Actually left the long 11’s on for maybe a drop…
TNA
#ShortPuts #IRA – Adding one here…
Sold TNA JAN 18 2019 60.0 Put @ 3.05
SJM
BTC October 19, 90 puts @ .05, sold at 1.15
My only winner of the day.
TRADES:
ROKU BTC 10/12/18 69.0 & 70.0 CALLS @.05
SFIX BTC 10/12/18 29.,29.5 &30.5 CALLS @.02 & .03
S
No predictions here but I…
No predictions here but I don’t think we bounce until the VIX is in the 20s.
Only trade that is working for me at the moment is /CL. MU, WDC, EXPE, and most of the chips all suck. Good thing they are #fuzzies and still have 1-2 years to break even.
I am now flat on profits for the year in my core account but still have 12k + of decay over the next 35 days. Unfortunately they theta decay is not keeping pace with the dropping market.
XLF flat
Financials are flat on a 1% down day.
MLM Jan
Sold $MLM Jan 18 2019 150 put @ 2.20
#FallingKnife
TQQQ-bearish trade
STO January 55 puts @ 5.10 against my January 50 puts that I am long in January. This trade will cover my exposure and give me a gain of .11 cents on expiration. I was tired of looking at a loss for the last several months and am moving on.
WTW
#CoveredCalls – Continuing to sell these around my breakeven level….
Sold WTW OCT 26 2018 65.0 Calls @ 2.15
TLT
#PerpetualRollingStrangles – Adding another batch with stops on the others.
Sold TLT NOV 16 2018 117.0 Calls @ .40
PYPL
#LongCalls #LEAPS – Earnings next week. Would like a bounce of some sort to sell more there.
Bought to Close PYPL OCT 19 2018 92.0 Calls @ .05 (sold for .62)
Pre-Earnings long call update
#PreEarnings Bought my last batch of $VFC Oct 26th 95 calls for 1.05. Avg price on full position, 1.20.
The remainder are all under water. Holding up best are $GPC And $VALE. $CAT and $MSFT hobbled.
$JPM not too bad… since I sold half, the position has only a small max loss… I may keep this second half past Friday morning earnings in case we get a gap open.
VXX Game
#VXXgame I was early on this but sold $UVXY March 75 call for 7.25, adding to my position.
SPX puts sold
#SPXcampaign Sold to Open $SPX Oct 19th 2790/2765 put spreads for 3.25. Offsets the call spread I sold Monday.
REGN holding up
Everything I dumped on Friday is lower now, except $REGN. The only one holding up.
#spxcampaign Bought to close my…
#spxcampaign Bought to close my Oct 19th 2760 2740 BuPS @ 1.50. Opened at .90.
New lows
$SPX just exceeded Monday’s low, but VIX is a full point lower than Monday’s high.
WYNN…
10/9….BTC WYNN 12 OCT 18 130 Calls @.04….STO 10/4 @1.42….Selling against Jan 2021 125 Calls needing $0.25 per week to cover so off to a good start..
10/9…STO 19 OCT 18 125 Calls @.94
Thankyou @fuzzballl for the idea… #fuzzy #leaps
Today, IYT broke 200.
Trouble indeed.
What does that mean for the bulls?
Should IYT fail to close above 200.20 by Friday, it will be the first failure of the 17-week exponential moving average.
Then, the 50-WMA comes in lower at 192.80.
With Semiconductors (SMH) and Regional Banks (KRE) already below their 50-WMAs, bulls can hope that IYT recovers before it sees its 50-WMA.
Otherwise, the long line of quiet bulls waiting for rebooking, will begin to get very restless.
Especially if there are only 2 buyers trying to hold the market up.
S&P 500 (SPY) Closed just under 287.70 the very pivotal 50 DMA, which puts this in an unconfirmed warning phase
Russell 2000 (IWM) 159.42 is the 50-WMA-if breaks, expect to see weakness and fear. What will save this? It starts with a move back over 164.
Dow (DIA) 259.50 is the underlying 50-DMA support.
Nasdaq (QQQ) Looking more like a double top unless it can clear and close over the 50 DMA or around 182.30
KRE (Regional Banks) Inside day. Lots of bank earnings this week-watch 61 for resistance and it must hold 58.28
SMH (Semiconductors) Inside day above 100. If that breaks, I think much lower. If can get over 102.23, a bit better
IYT (Transportation) See commentary
IBB (Biotechnology) 115 pivotal support, then 112. 118 now resistance
XRT (Retail) 47.75 the 200 DMA
BA Bull Call / ARNC Bull Put / SOXL Put
#longcalls
$BA BTO 11/23 385/395 BUCS at 4.62
#shortputs
$ARNC STO 11/16 19/24 BUPS at 1.75
$SOXL STO 12/21 90 put at 3.51 Thank you @fuzzballl
+Vega short put spread
STO SPX 11/23/18 2700 Puts
BTO SPX 11/23/18 2680 Puts
BTO SPX 11/23/18 1400 Puts
1.35 credit
BA
BTO October 26, 360/370 bull call spread @ 8.05
BABA, STO November 16, 180 calls @ .52
Options Bistro 