Calls sold

#LongLEAPs #SyntheticCoveredCalls
Sold $TQQQ Jan 4th 59 calls for .79
Sold $SQ Jan 4th 39.5 calls for .74

SPX 1-dte sold

#SPX1dte Sold $SPX Dec 31st 2360/2380-2570/2590 for 1.40.

SPX 1-dte

#SPX1dte Closed yesterday’s for .25 total. With the rolls I had to execute yesterday, the full trade ends up with a .35 loss.

Waiting until closer to the close to sell today’s, to avoid that kind of mess!

Happy New Year!

Hi Everyone! I just couldn’t find a new bread-and-butter trade this year that justified reporting, so I lost track of a lot going on here. I did find some good new approaches though. I found Scott Ruble (Stratagem) to be an excellent teacher on structured courses, but a terrible terrible subscription provider. @kathycon and I have used several of his approaches in the last few months to make money…#AdvancedRiskReversals, #SpikedCollars, #LayeredSpreads, and #RollingThunder. Scott was with Random Walk for awhile before having a falling out. Ed has taken Scott’s place at Random Walk and has a $50/mo subscription service that I quite like. Very reasonable for what you get. Ed’s approach is #PregnantButterflies which layer in spreads in a way to provide wide profit ranges, often risk free. The #RTT (Road Trip Trade) trades at Aeromir are good (BWB), and they manage them very dynamically using a lot of Scott’s teachings. The one month trial of RTT is very worth it. Option Pit is still great….but VERY deep and takes a ton of cerebral work….especially if you think you know it all already (like I did).

The only update I’ll give is on NFLX. I made a solemn vow in @fuzzballl ‘s name that I would stick with this until I was even. I started at $358 a share and am now down to $272….that’s a ton of cost basis reduction! I’m accomplishing this two ways…. 1. using weekly debit wide broken wing put flies (Ed calls them “Venus Flies” for the downside collar, and. 2. using weekly covered calls to finance the flies. As you can see I’m still off the mark on break even….but I’m being mechanical with the income collection and tracking every cent against the cost basis. I’ve only got 100 shares of NFLX so the ride down has been manageable.

Hope we all get what we want from the market next year! This last year is one of those that seriously refines you as a trader. Survive….and you come out a much better trader.

Sue 🙂

#advancedriskreversals

EOG #fuzzy 110/110 leap puts….

EOG #fuzzy 110/110 leap puts. Rolled the long out to 2021 for additional 3.20. Cb increased to 14.64 but now have 107 weeks to manage it.

Econ Calendar for week of 12/31/18

#Jobs report is Friday. And Powell speaks later that morning.

screen shot 2019-01-04 at 10.43.13 am

Screen Shot 2018-12-28 at 10.30.10 AM

Link to calendar: https://optionsbistro.files.wordpress.com/2018/09/screen-shot-2018-09-24-at-6-07-52-am.png

BABA and the long LEAPS idea…

#LongCalls #LEAPS – Something I’ve been considering for awhile now that things have dropped so much. Looking at getting into a long term BABA position. Instead of buying LEAPS at the money I’m considering going out of the money further to save a lot of cash up front and then just selling the weeklies more conservatively.

Looking at LEAP strikes in 2021 somewhere in between it’s current range. It’s traded from 130 up to 210 so halfway is about 170. Could even go to 180 and get that for half of what the 130 would cost. On a recovery it will still make good money but not require a whole lot of weekly selling to get the cost back.

No position yet…