#SyntheticCoveredCalls #LongLEAPs
Bought $TQQQ Jan 2020 66.67 call for 17.60. Plan to sell calls against it.
Monthly Archives: October 2018
XBI
#LongCalls #LEAPS – And finally….adding, booking, and selling.
Bought XBI JAN 17 2020 97.0 Call @ 8.35 (adding)
Bought to Close XBI OCT 12 2018 97.0 Calls @ .05 (sold for 1.07)
Sold XBI NOV 2 2018 95.0 Calls @ 1.10 (half ratio)
Perspective
Today could be the first 1% drop for the S&P 500 in 70 trading sessions.
That might feel bad, but remember 4 years ago this month there was a legit fear that ebola was going to spread over the globe.
The SPX is up 55% since those October '14 lows.
— Ryan Detrick, CMT (@RyanDetrick) October 4, 2018
TQQQ
I see support around the 200 day MA which is around 58. I intend to add to my position by buying the 2021 calls but am not sure which strike price yet.
LABU
#LongCalls #LEAPS – My biggest loser today. Got caught a little under ratio’d so need to get some more sales. Giving it plenty of room. I’ll be looking to add to the #LEAPS on another big down day.
Sold LABU NOV 2 2018 95.0 Calls @ 1.35
AMBA
#LongCalls #LEAPS – Same as AMAT. Current batch profitable so adding new above resistance. I’m banking on the volatility expansion also helping call premium and the overhead resistance to slow down any major rally.
Sold AMBA OCT 26 2018 39.5 Calls @ .55
AMAT
#LongCalls #LEAPS – Ratio’d and laddered.
Bought to Close AMAT OCT 19 2018 43.0 Calls @ .05 (sold for .41)
Another batch the following week are about 50 percent profitable so I can stop those out at even if it rallies. Selling another batch the week after. Should all be prior to earnings.
Sold AMAT NOV 2 2018 40.0 Calls @ .53
UVXY
#BearCallSpreads – Selling a few more…
Sold UVXY NOV 2 2018 45.0/55.0 Bear Call Spreads @ 1.22
What the heck?
I sell a couple little UVXY call spreads and go work for a few hours and the world comes to an end….oops! Just getting the computer turned on now.
#shortstrangles #closing SMH Sept. 20,…
#shortstrangles #closing SMH
Sept. 20, sold Nov. 16, 98/113 strangle for 2.53, bought today for 1.98.
Stopped out
#CoveredCallCampaign
Strikes breached so stopping out. I will wait to consider rolls tomorrow. The bottom could be in at any second here, but since it looks like we’re entering a Downside Warning, I have to be ready for more downside in the coming days.
BTC $SQ Oct 26th 94 puts for 4.65. Sold in 94/105 #StrangleRoll for 5.50 on Friday. Will leave the 105 calls in place.
BTC $FB Oct 19th 157.5 puts for 3.90. Sold for 2.30 on Tuesday.
#ratiostrangles EWZ Nov. 16, sold…
#ratiostrangles EWZ
Nov. 16, sold 2, 30 puts and 1, 40 call for 2.32. If it goes to 40, I’d be happy having been put 100 shares a few months ago.
AMZN put spread
$AMZN Oct 19 1820/1810 BuPS @ 2.05
Sold in 2 IRA accounts
#spxcampaign Stopped out of my…
#spxcampaign Stopped out of my Oct 15th 2850 / 2830 BuPS at 3.35. Tiz a spanking day.
A Soft spot
#PreEarnings Bought to Open $MSFT Oct 26th 116 calls for 1.40, starter position.
A (very) quick aside…
#OffTopic I was pretty sure they had that wrong…
#shortputs STO LABU Jan18’19 55…
STO LABU Jan18’19 55 PUT $3.20
TSLA stopped
#Earnings repair Stopped $TSLA Oct 12th 285 put for 11.95. Sold for 4.15 on Tuesday.
Flat in TSLA. My earnings repair has done well after being whipsawed in August; reduced my losses by more than half. But the last week has been another whipsaw, with the wins being canceled by losses, so I’m taking a break. Margins are jacked up on this one anyway.
VIX stops being boring
#VIXIndicator… new highs today, 15.19 highest since Sep 10th. If we close the day above 14.51, it will be a new Downside Warning. This just one day after the lowest close since August 9th.
UVXY sold
#VXXGame Sold to Open $UVXY Jan 2019 70 calls for 4.25. Filled on the way up, not the top.
#BuPS Stopped out of my…
#BuPS Stopped out of my AMZN BuPS @ 5.55
TQQQ pietrade
LMT pre-earnings… again
Bot LMT Oct26 362.5 call @ 2.15. First of five possible layers.
#preearnings
GOOGL
BTO Oct 19 1160/1162.50 BuCS $1.70 #supercharger
STC GTC 2.40
AMZN supercharger
Bot AMZN Oct19 1840/1850 CDS @ 7.75. GTC order to close @ 9.40. Inspired by Jeff. Thanks @jeffcp66
MSFT pre-earnings
Bot MSFT Oct 26 116c @ 1.67 x3 (first layer half size). This trade is based on a 100% win rate for the 21/1 setup. ER hasn’t been confirmed but the bloated vol in the Oct26 expiration is a good indication that they’ll report that week.
WYNN trades
Rolled short Oct 19 140 puts out to Nov 16 140 puts for 2.10 credit. Position was originally rolled to Oct from Sep. Total premium now 5.65. Basis 134.35.
I also added a ladder rung. Sold Jan 18 100 put @ 2.00.
AMZN #BuPS I decided to…
AMZN #BuPS I decided to re-enter my Oct 19th 2860 / 2840 BuPS now that AMZN has pulled back to the 50dma. Filled at 4.55 when AMZN hit 1924.16. I was filled quickly so a little more price discovery was in order. Stops are .30 and 6.50
#coveredcalls Legged into Bought ERX…
#coveredcalls Legged into Bought ERX @ 39.80. Sold Oct 19th 41 Call @ 1.10 when ERX hit 40.19
Copy CAT
#Pre-Earnings Bought to open $CAT Oct 26th 165 calls for 1.80. Starter position, following MamaCash. Will add up to two more lots.
VIX short
STO VIX Nov 20/30 call credit spread @ .60 on today’s spike. Selling against longer-dated VIX longs per my strat. @fuzzballl I know I owe you the details for this strategy. Sadly, it’s a black box trade. If I tell you the secret, I will have to (blank) you. Didn’t want to fill in the blank for fear of being censored. lol.
JPM, half closed
#PreEarnings Put in my order near the highs but then the flush came. Closed half my position.
Sold to close $JPM Oct 12th 116 calls for 1.43. Avg purchase price .83
#shortputs SPXL Sold Oct 19th…
#shortputs SPXL Sold Oct 19th 52 Put @ .70. The strike is near the 50dma.
Trades and rolls.
/CL added another strangle 71 DTE 63.5/91 for 0.70 credit. Goal is to close the other one in another week, already up $900 then leave the longer one on a few weeks. The decay rates on these are about $100 per day for 5 contracts.
XBI #fuzzy lot 1 80/97 rolled out 36 DTE for 1.23 credit. Cb 18.33
LNG #fuzzy 50/66.5 rolled out 36 DTE for 1.33 credit. Cb 17.24
XBI lot 2,3, and 4 at 95/98 adjusted to 95/97, 87/95 and 95/95 rolled out to 26 DTE for 1.15 and 1.35 credits. Cost basis now 3.62, 4.33, and 0.85. Almost have a freebie, one more roll should do it but then have until Jan 2019 to keep bringing in cash.
Equity curve still flat with all this adjusting but on a positive note I have A LOT of theta decay over the next 32 days and it is all OTM at the moment so that should move the needle on the equity curve finally. Just need to sit on my hands for a week or 2 and let theta decay do its magic. Some expire next week, some week after and it all clears in 32-36 DTE.
#shortcallspreads DE Tradewise recommendation, sold…
Tradewise recommendation, sold Oct. 26, 162.50/165 for .75
A TRADE:
SFIX STO 10/5/18 27.50 PUTS @.45 Want to add a little stock, a little cheaper. Expires tomorrowl
CAT pre-earnings
Bot CAT Oct26 165c @ 2.10 based on 21/1 setup. 1st of up to 5 layers
#longcalls #closing #preearnings C JPM…
#longcalls #closing #preearnings C JPM
Closed the Oct. 12 long calls today
C bought for .55, sold for .98
JPM 116 bought for 1.12, sold for 2.06
JPM 117 bought for .47, sold for 1.51
Thanks Jeff and Mama
AMZN Super Dooper
#SuperCharger Kind od surprised this is available for such a low price, expiring before earnings.
Bought to Open $AMZN Oct 19th 1880/1890 bull call spread for 7.25.
MU #fuzzy Rolled 30 DTE…
MU #fuzzy
Rolled 30 DTE 50 call out to 44 DTE for 0.43 credit. Cb now 8.67. Briefly had a break even, need a few more rolls to put it solidly in the profit column.
AMZN Calls / TSLA Strangle Unstrangled
#shortcalls
$AMZN BTC 10/5 2012.50 call and STO 10/12 2020 call at extra $9 plus $7.50 is called away.
$TSLA BTC 10/5 322.5 calls at .65 STO 9/26 at 5.42 as part of strangle. Thank you @jeffcp66
Closing some DUST
Going through the end of day trade and just saw this order was filled.
Bought to close $DUST Nov 16 64 calls @ .20. Sold for 1.00-1.35 from 8/23-9/5. Position was getting a little big so I wanted to take some off to reduce size. I may do some more tomorrow if the opportunity presents itself.
WHR adding
Sold $WHR Jan 18 95 puts @ 1.25.
Divvy would be around 5% if the stock got down there.
I’m now short the following ladder:
Dec 110 puts
Dec 105 puts
Dec 100 puts
Jan 100 puts
Jan 95 puts
WYNN
#LongCalls #LEAPS – Starter position out in 2021. Earnings still a few weeks away and leaving room to add. Always decent premium in this one.
Bought WYNN JAN 15 2021 130.0 Calls @ 26.85
Sold WYNN OCT 12 2018 130.0 Calls @ 1.48
UVXY
#BearCallSpreads – Take your best shot Mr. Market…
Sold UVXY OCT 19 2018 40.0/45.0 Bear Call Spreads @ .55
Could this be the reason…
…for this afternoon’s drop? The Presidential test tweet caused the algos to freak out?
Looks like somebody forgot to tell the algos it was only a test. pic.twitter.com/YNhf7hgLH9
— Bespoke (@bespokeinvest) October 3, 2018
Afternoon dump
#Market We just hit the lowest $TICK since mid-May. It seems every day we start the day strong, and then hit volatility in the afternoon, before closing out on a mini-rally.
New Bistro features!
Click “Refresh” to load these new features in the right-hand column.
*Upcoming #Earnings – shows the tickers reporting earnings over next 7 trading days. Included are stocks with weekly options, at least $5.00 stock price, and significant volume. Tickers that are commonly traded by the Bistro community are highlighted in red. You may click on the chart for a larger view. PLEASE SEND SUGGESTIONS of tickers you think should be included if you notice any missing.
*Mama Cash’s #PreEarnings Trades – this is a link to Mama’s excel sheet for trade ideas and past performance of stocks that perform well leading up to their earnings dates. She will keep this updated as earnings season progresses.
*Countdown – will countdown the days until any significant trading events. Again, open to suggestions.
Let me know if you have any questions!
#Welcome
TRADES:
TNDM BTO STOCK 36.46
SFIX STO 10/12/18 27.0 PUTS @.85
#shortputs #fallingknife AAOI Aold Nov….
#shortputs #fallingknife AAOI
Sold Nov. 16, 20 put for .73, thanks fuzzball
MSFT pre-earnings
Tomorrow is entry day for a 100% winning pre-ER trade in MSFT. The backtest is based on entering 21 days before earnings and closing the day of earnings before the pm report.
http://tm.cmlviz.com/index.php?share_key=20181003180959_8HR6GiEXLKbvvt3q
AAOI
#ShortPuts #LongPuts #ShortCalls – Yes I am still in this. Short DITM puts out in Jan 2020. In the meantime trading around it. On the last spike bought a double size batch of disaster puts where the overall position would actually make more if the stock went to zero. With the stock making a big beautiful double bottom today I’m taking some nice gains on the long puts.
Sold to Close 10 AAOI JAN 17 2020 22.5 Puts @ 5.35 (bought for 2.35)
Taking some of those profits and buying shorter term disaster puts to get through next earnings and a possible confirmation of today’s bounce. I’ll decide what to do with these after earnings. Hopefully the stock will bounce and I can close these new ones for the residual value and maybe reload on the next top.
Bought to Open 10 AAOI JAN 18 2019 20.0 Puts @ 1.35
Pocketing the 1.65 gain for now which equates to a 3.30 basis improvement on the DITM puts.
Whew!
A TRADE:
SFIX BTO STOCK @28.19
EWZ
#LongCalls #LEAPS – These were stuck in non-ratio’d limbo for a long time but finally looking better. Rolling the LEAPS out to 2021 for a small debit. Well worth the extra year of selling against them.
Rolled EWZ JAN 17 2020 40.0 Calls to JAN 15 2021 40.0 Calls @ 1.55 debit
And:
Sold EWZ OCT 26 2018 40.0 Calls @ .63
FDX puts closed
#PostEarnings Bought to close $FDX Oct 12th 240 puts for 1.61. Sold for 2.90 on Sep 18th. This never got scary but was annoying.
BA and RTN
I decided to close out the long dated calls on BA and RTN since we have had a nice run.
BA, STC 2020, 370 call and BTC 10/19, 390 calls at 51.50, cost basis 43.67
RTN, STC 195 calls and BTC 10/5, 205 calls at 24.80, cost basis 20.92
AMZN #BuPS Decided to close…
AMZN #BuPS Decided to close my Oct 19th 1860 / 1840 BuPS @ 3.00 with AMZN at 1957.97 before things get worse. I may reopen this once AMZN finishes pulling back. Maybe closer to the 50dma.
TLT
#PerpetualRollingStrangles – Still plugging away on this one. Put side rolled out and down to 2020 and selling the weeklies against those. Been a nice solid performer considering it was an experiment started nearly 3 years ago…LOL
Bought to Close TLT OCT 5 2018 119.0 Calls @ .01 (sold for .43)
Sold TLT NOV 2 2018 118.0 Calls @ .44
Fun stuff to worry about
Here is every time in the past 25 years when the Dow closed at a 52-week high while most of the NYSE was in a bear market. pic.twitter.com/CZNWhZhq30
— SentimenTrader (@sentimentrader) October 3, 2018
#spxcampaign Opened Oct 17th 3000…
#spxcampaign Opened Oct 17th 3000 / 3020 BeCS at .75 when SPX was at 2936.41 Stops are .20 and 1.50.
NFLX
BTO Oct 19 350/355 BuCS $3.45 #supercharger
GTC 4.75
LOW
BTO Oct 12 114/112 BePS $.95 #in-out
GTC 1.55
DG
#LongCalls #LEAPS – Gonna be a long grind on this one out to 2021. Off to a good start. Triple selling these up near the all time highs. Staying in expirations prior to earnings.
Bought to Close DG OCT 12 2018 113.0 Calls @ .05 (sold for .60)
Sold DG OCT 26 2018 110.0 Calls @ .75
#jadelizard SFIX Tastytrade idea sold…
#jadelizard SFIX
Tastytrade idea sold Nov. 16, 26/32/34, (+26 put, -32 call, +34) call for 2.23.
TBT 2x or 3x?
Hi Guys!
It’s been awhile since I posted, thought I’d pop in here and say hi! I’m deep in the weeds at Option Pit. I’m in their pro group now. My trading is changing quite a bit, to a style that is more “book management” than “trade management.” Using low volatility to build a catalog of long puts and calls, then selling around them to pay for the decay, and selling out the longs as the market demands (for example I have a bunch of IWM puts that are getting close to being up 100% now, so I’m metering them out). I’m doing a lot of ratio calendars to acquire the longer dated options at a discount. This would be impossible to do with the old commission structures that had a ticket fee + contract fee. Thank goodness Tasty Trade caused a lot of pricing innovation! It’s less stress knowing a big move in either direction pays out nicely….it’s just managing the middle that’s important. It’s going to be an interesting quarter with everything going on. I’ll try not to be such a stranger!
Sue
Closing trades
Rather than posting closing trades throughout the day, I plan to post a daily summary. I’ll continue to post opening trades individually to ensure that they’re timely in case anyone wants to follow.
BA. Strong stock in strong sector strat. BTO Oct26 lophir @ -2.61. STC @ -.80 for 70% profit. Days in trade 12
AAPL. Pre-ER strat. BTO Oct26 supercharger @ 7.93. STC @ 9.40 for 16% profit. Days in trade 8
NFLX. Pre-ER strat. BTO Oct19 lophir @ -8.31. STC @ -2.50 for 70% profit. Days in trade 13
Note: Profit on lophirs is based on credit received, not max risk. I’m willing to report based on max risk if you all prefer that.
AMZN lophir rinse and repeat
Couldn’t resist adding another AMZN lophir on today’s pullback. My trading plan allows me to own two at a time.:-)
Bot AMZN Oct26 +1p/-2p/-1p/+2p 1940/1885/1840/1780 @ -14.40. GTC order to close @ -7.20.
VIX strat
Sold VIX Nov 18/28 BeCS @ .70 against my Feb and Mar BuCS.
This is my long-running strat where I sell short-dated 10-wide call credit spreads on continuous low volatility or small spikes and buy long-dated call debit spreads 10-wide whenever they are cheap, meaning less than $1. The long dated debit spreads provide protection for the call credit spreads and also serve as insurance against big overnight market drops.
#VIXGame
#shortcallspreads IWM Sold Nov. 16…
#shortcallspreads IWM
Sold Nov. 16 170/175 for .85
AAPL roll & TSLA quickie
#CoveredCallCampaign
BTC $AAPL Oct 12th 215 put for .35. Sold for 2.05 on Sep 25th
Stopped AAPL Oct 12th 227.5 call for 3.65. Sold for 2.13 on Sep 20th.
#StrangleRoll Sold AAPL Oct 19th 222.5/235 strangle for 3.21.
BTC $TSLA Oct 5th 320 call for 1.00. Sold yesterday for 5.75.
LABU
#LongCalls #LEAPS – Added one to the 2020 position averaging down…
Bought LABU JAN 17 2020 110.0 Call @ 13.70
EWZ
#fuzzy
Rolled EWZ 5 OCT 35 Call to 19 OCT 35.5 Call @.46 Credit
#fallingknife SFIX SFIX is down…
#fallingknife SFIX
SFIX is down big today after earnings, this is a Motley Fool best buy, AMZN is doing something similar. I choose my own clothes, waiting to see how far this falls.
TQQQ
STO, January 2019, 55 puts @2.60, this is a partial sale against my 2019, long position of the 50 puts in 2019. This was a bearish trade that is not working so far.
LABU
#ShortPuts #IRA -Thanks @MikeL for the reminder. Currently in a Dec 45,50,60 ladder so adding a Jan.
Sold LABU JAN 18 2019 60.0 Put @ 3.40
Options Bistro 