Interesting that in spite of the imploding market today the chips held up pretty good. SMH and SOXL held their own and NVDA and AMAT were up nicely. Short covering or some bottom pickers snooping around?
Bought to Close OLED NOV 23 2018 98.0 Calls @ .05 (sold for .65)
Bought to Close TQQQ NOV 30 2018 55.0 Calls @ .05 (sold for 1.19) re-load tomorrow hopefully…
Risk reduction on one contract taking the small loss…
Bought to Close TQQQ JAN 18 2019 40.0 Put @ 3.50 (sold for 2.50)
One of my most frustrating positions so going to try something. Converting the LABU long LEAP calls to long LEAP puts on LABD. The built in drag should help this and the call side was approaching massive whipsaw risk with sales so far below the LEAPS. New position is out to 2020 instead of 2021. Collect as much premium as I can between now and then and then see where it stands.
To establish the new position, I sold the calls and bought whatever puts were the same price and just rolled the basis to the new position. Long 25 strike puts now so will be selling above those but not nearly the whipsaw risk that the call side had.
Long story short…about 30 cents a week on a 5 lot is the goal. Hopefully can get most of that.
I will be here tomorrow but don’t expect to do anything. This is a really sick market. Who would have thought that the whole U.S. stock market is based on selling iphones. LOL.
There does not seem to be a FED put anymore so I am doing very little other than selling short dated calls against my long call leaps. I hope everyone has raised cash and is sitting on your hands.
DBX BTO STOCK @21.35
DBX STO 11/23/18 21.50 CALLS @.42
Happy Thanksgiving to all, and my heartfelt thanks to Jeff for running this great site, and to everyone who contributes. In my world, I have zero people with which I can truly discuss any of this, so people here, in addition to seemingly like really good people, well, that’s what really matters.
BTC Dec 21 35 covered calls @ .80 STO on Nov 7 @ 1.70…taking my 50.4%.
#Earnings $ADSK reports tonight. Below are details on earnings 1-day moves over the last 12 quarters.
Decent premium available outside the recent maximum moves.
Aug. 23, 2018 AC 15.32% Biggest UP
May 24, 2018 AC -4.44%
March 6, 2018 AC 14.87%
Nov. 28, 2017 AC -15.85% Biggest DOWN
Aug. 24, 2017 AC 3.94%
May 18, 2017 AC 14.69%
March 2, 2017 AC -2.29%
Nov. 29, 2016 AC -3.52%
Aug. 25, 2016 AC 8.11%
May 19, 2016 AC -2.31%
Feb. 25, 2016 AC 3.58%
Nov. 19, 2015 AC -2.94%
Avg (+ or -) 7.66%
Bias 2.43%, positive bias on earnings.
With stock at 122.50 the data suggests these ranges.
Based on current IV (expected move per TOS): 109.95 to 135.05
Based on AVERAGE move over last 12 quarters: 113.25 to 132.03
Based on MAXIMUM move over last 12 Q’s (15.9%): 103.20 to 142.08
Open for requests on other symbols.
That’s an error on the side chart… $BBY announced this morning, NOT later today.
#SPXcampaign Sold to Open $SPX Nov 21st 2550/2570-2740/2460 condors for .85. Expires tomorrow.
STO TNA Apr18’19 40 PUT $2.80
STO SOXL May17’19 55 PUT $6.30
STO Nov 21 2645/2605 for $11.50,BTC $9.50, 15 minute trade – reversion to mean