Sold Feb. 15, 150/155 call spread for .88
STO February 15, 50/55 bear call spread at .60 cents. I am scaling these out against my 2021 long position.
Bought Feb. 15, 41/42/42/44 for .35
EOG 97/98 16 DTE credit spread was breached on the short side this morning. I delta neutral hedged it by buying back 5 of the 10 contracts at the 97 strike . Actually could have done 3 but was in a hurry. Price was 3.1 after I had sold them for 1.48 last week. The math is complicated because I now have a 5 short: 10 long ratio against a put #fuzzy but looks like anything above 99.04 and I break even or make money. If we drop I can always sell 5 again to take the ratio back to 1:1. Since doing that I am up $1635 on the credit spread part this morning.
I will be doing this with any breached credit spread going forward based on the TT research that showed violated credit spreads rarely return to the original range. As long as there is more than a week left to expiration. If inside that would roll first out to 21 DTE or so and then back ratio.
EXPE STO 10 of the 23 DTE 118/120 CCS for 0.40 against a 20 contract put #fuzzy.
Will start some #spycraft on Monday once my LNG and XBI cc are assigned.
#SPX1dte Exited short puts for .05, but had to pay .55 to exit call side. Condors sold for 1.20 yesterday.
STO Feb 15 60 cc @ 1.30 with shares selling at 45.65. Time to start working off -15 pt assignment, returning from PSP sun break, yuk, only a couple days in 70’s. Flight last night w/minor mechanical, TSA’s in good spirits!
Working most of the week so not much going on here. Waiting for some earnings dates to get confirmed before selling much more.
#Earnings $BBBY reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
Sept. 26, 2018 AC -20.99% Biggest DOWN
June 27, 2018 AC -3.81%
April 11, 2018 AC -19.95%
Dec. 20, 2017 AC -12.49%
Sept. 19, 2017 AC -15.87%
June 22, 2017 AC -12.12%
April 5, 2017 AC 3.38% Biggest UP
Dec. 21, 2016 AC -9.17%
Sept. 21, 2016 AC 0.74%
June 22, 2016 AC 1.50%
April 6, 2016 AC 0.32%
Jan. 7, 2016 AC 0.27%
Avg (+ or -) 8.38%
Bias -7.35%, strong negative bias on earnings.
With stock at 12.00 the data suggests these ranges:
Based on current IV (expected move per TOS): 10.12 to 13.88
Based on AVERAGE move over last 12 quarters: 10.99 to 13.01
Based on MAXIMUM move over last 12 Q’s (21.0%%): 9.48 to 14.52
Open for requests on other symbols.
Jeff-do you have BBBY earnings data? thanks
Heads up… Fed minutes released today at 2pm ET. Potential market mover.