Rolled the 22 DTE 47 call out to 43 DTE for 0.74 credit. Cost basis now 21.4.
Up $30 after earnings, $260 stock.
#SPXcampaign trying something new to me, but I know is a common strategy for others.
Sold to Open $SPX Nov 2nd 2645/2665/2780/2800 iron condors for 1.05. Expire tomorrow. Will roll into a longer term condor if SPX gets within 10 pts of either short.
IV has gone up in last 20 minutes so you can get this for more, or move out a strike.
Bot Nov2/9 59 double calendar x2 @ .43. GTC order to sell @.80
STC Nov 9 1550/1555 Calls $4.25 #suppercharger
bought a week or so $3.75 was under water last week
Rolled November 2, 72 calls to November 16, 75 calls for a credit of .47 cents. I own the 115 calls in 2021.
#OffTopic – Are we getting close to a record day for number of posts? Volatility sure adds to the volume here!
#Earnings – Skipping BABA but really want to do something. Since I’ve got WTW stock already (small position) with DITM covered calls I’m overlaying a Jade Lizard on top of that skewed to the downside.
Sold WTW NOV 2 2018 62.0/70.0/72.0 Jade Lizard @ 2.20
#ShortCalls – Booking it because you just never know…
Bought to Close UVXY NOV 2 2018 70.0 Call @ .10 (sold for 2.35)
Not really an #Earnings trade. Had been selling calls against some DITM short put spreads. With the yuuge rally into earnings the calls are taking some heat. With all the premium available I’m busting up the calls into short strangles and skewed fairly bullish.
Rolled OLED NOV 2 2018 125.0 Calls to NOV 2 2018 123.0/138.0 Strangles @ .05 credit
#Earnings I’m legging into $AAPL short Nov 2nd 232.5 calls, against the 205 puts I sold this morning. Filled on 1 so far at 1.02. Next fill is for 1.10.
Says a retest is still coming. Nothing crazy but a technical pullback….
Rolled November 16, 59 calls out to December 21, 61 calls for a credit of 1.03 so a better strike price and nice premium with 107 more weeks to go. I will have covered 25% of my cost by December 21.
BTC $TSLA Nov 2nd 290/350 strangles for 3.01. Sold for 6.50 last Friday. Will look to do another one tomorrow.
#Earnings Sold to Open $ANET Nov 2nd 202.5/270 strangles for 2.05.
$ANET reports after the bell. Below are details on earnings 1-day moves over the last 12 quarters.
Aug. 2, 2018 AC -5.26%
May 3, 2018 AC -8.51%
Feb. 15, 2018 AC -18.98% Biggest DOWN
Nov. 2, 2017 AC 11.21%
Aug. 3, 2017 AC 19.43% Biggest UP
May 4, 2017 AC 3.22%
Feb. 16, 2017 AC 18.85%
Nov. 3, 2016 AC 1.49%
Aug. 4, 2016 AC -0.33%
May 5, 2016 AC 5.11%
Feb. 18, 2016 AC 11.77%
Nov. 5, 2015 AC 13.71%
Avg + or – 9.82%
Bias 4.31%, positive bias on earnings.
With stock at 237.00 the data suggests these ranges.
Based on current IV (expected move per TOS): 215.96 to 258.04
Based on AVERAGE move over last 12 quarters: 214.17 to 260.83
Based on MAXIMUM move over last 12 Q’s (19.4%): 191.35 to 283.65
Open for requests on other symbols.
Bought to close $AMD Nov 16 17 puts @ .34. Sold for .72 on 10/25.
This one got away from me as I chased the short puts up as it made it almost to 130. Now back down to 104 so I had a mess and was long the 115 2020 outs and short the 36 DTE 120 puts. Rolled the entire thing down and out so now have the 110 long 2020 puts and the 43 DTE 110 puts. All said and done the shorts cost me 7.85, I had a credit of 2.82 for the long roll down, adding that to my cost basis of 7.66 I now have a total cost basis of 12.69 but no margin requirement.
Will keep selling and may eventually convert it to 2021 if it stabilizes.
Now I am done for a while, trade smart!
#Earnings BTC $W Nov 2nd 85/135 strangles for .24. Sold strangles yesterday for 1.82.
MU rolled the 40/40 22 DTE out to 43 DTE for 0.66 credit. cb now 14.69
WDC 40/46.5 8 DTE out to 22 DTE and up to 47 for 0.38 credit. cb now 22.14
Will try to roll these back up and stay ahead of them going deep ITM. If I can’t will ratio.
Now going for bike, hopefully another 1k of decay will happen in EXPE and can roll them when I get back.
#Earnings – Since there’s other earnings trades coming up that I’d like to try I’m bailing on this one. Got well over half and shipping it on down the road since it’s really looking weak here.
Bought to Close STMP NOV 2 2018 175.0/215.0/220.0 Jade Lizard @ 2.00 (sold for 5.10)
I’m looking at Strangles on $ANET, $BABA, and $OLED.
Considering double calendars on $EOG, $CVX, and $SBUX.
What else you looking at?
Closed CI double calendar for 2.58. Bot @ 2.44 ydy.
Closed W double calendar for .20. Bot @ 2.30 ydy.
Not a good day for the small DubCal flock.
#pietrade tweak I am considering.
On the initial put sale, I may pair jade lizard with them. Bring in a little extra income, if it does not hit the short strike keep the additional income.
Then if assigned on the put, instead of selling straight CC may sell a call credit spread. Then if called out you may also get a runner on the long calls. Or if nothing else will give you the ability to ratio it if moving around a lot.
As I experiment with this will post results. In looking at more recent trades it certainly would have helped.
Currently #pietrades yield about 30-40 percent annualized on cash accounts, 40-50% on margin. Trying to bump that up a little and at the same time reduce risk.
Yesterday rolled EOG 115/120 #fuzzy out to 36 DTE for 0.51 credit. Cb now 7.66
Today XBI #fuzzy 80/90 rolled down to 85 and out to 29 DTE for 0.49 credit. Cb 16.54 now
Have some expiring tomorrow but with the volatility they are holding on to their premium. EXPE 125/126 short puts on a #fuzzy are sitting ATM and still traing for 0.90 and 1.90. With 10 contracts want to capture a lot more of that decay before I roll.
The hedges worked well, the uptick certainly helps but finally starting to take some profits out of the 12k of premium I had sold over the last 3-4 weeks. Another week or 2 and all that premium should find it’s way to my accounts as long as we don’t implode again.
Once VIX settles down will put the SPX hedges back on. New personal rule, anytime VIX is 12.5 or under will keep SPX hedge on. Maybe 1-2 times a year have a winning lottery ticket. This year would have paid out twice, Feb and now!
#Earnings Bought to close $CI 200/222.5 strangles for .25. Sold yesterday for 1.97.
#Earnings $BABA reports tomorrow morning. Below are details on earnings 1-day moves over the last 12 quarters.
Aug. 23, 2018 BO -3.15%
May 4, 2018 BO 3.52%
Feb. 1, 2018 BO -5.90% Biggest DOWN
Nov. 2, 2017 BO -0.68%
Aug. 17, 2017 BO 2.77%
May 18, 2017 BO 0.45%
Jan. 24, 2017 BO 3.06%
Nov. 2, 2016 BO -2.60%
Aug. 11, 2016 BO 5.08% Biggest UP
May 5, 2016 BO 3.96%
Jan. 28, 2016 BO -3.76%
Oct. 27, 2015 BO 4.04%
Avg + or – 3.25%
Bias 0.57%, slight positive bias on earnings.
With stock at 143.00 the data suggests these ranges.
Based on current IV (expected move per TOS): 134.69 to 151.31
Based on AVERAGE move over last 12 quarters: 138.36 to 147.64
Based on MAXIMUM move over last 12 Q’s (5.9%): 134.56 to 151.44
Expected move is same as Maximum move, which is rare.
Open for requests on other symbols.
Bought to Close STMP NOV 2 2018 215.0/220.0 Bear Call Spread @ .10
Sold 1 STMP NOV 2 2018 175.0/215.0/220.0 Jade Lizard @ 5.10
#Earnings Sold $AAPL Nov 2nd 205 puts for 1.60. Will sell calls if we can rally. I sold early, thinking this morning weakness will be bought. Hopefully the whole day doesn’t turn ugly!
#Earnings $AAPL reports after the bell. Below are details on earnings 1-day moves over the last 12 quarters.
July 31, 2018 AC 5.89%
May 1, 2018 AC 4.41%
Feb. 1, 2018 AC -4.33%
Nov. 2, 2017 AC 2.61%
Aug. 1, 2017 AC 4.72%
May 2, 2017 AC -0.30%
Jan. 31, 2017 AC 6.09%
Oct. 25, 2016 AC -2.24%
July 26, 2016 AC 6.49% Biggest UP
April 26, 2016 AC -6.25%
Jan. 26, 2016 AC -6.57% Biggest DOWN
Oct. 27, 2015 AC 4.12%
Avg + or – 4.50%
Bias 1.22%, positive bias on earnings.
With stock at 218.00 the data suggests these ranges.
Based on current IV (expected move per TOS): 206.86 to 229.14
Based on AVERAGE move over last 12 quarters: 208.19 to 227.81
Based on MAXIMUM move over last 12 Q’s (6.6%): 203.68 to 232.15
Open for requests on other symbols.
#PerpetualRollingStrangles – Triple selling the call side using the falling 20ma as a guide for resistance. Stops set on the previous sales.
Sold 12 TLT NOV 30 2018 116.0 Calls @ .38