Options Expiration for 1/18

Was able to leave a few to expire. Will look to reinitiate some positions next week.

Expiring:
$AAPL Jan 18 155/145 bull put spread
$AAPL Jan 18 155/150 bull put spread
$AMAT Jan 18 35 puts
$AMZN Jan 18 1400/1390 bull put spread
$AMZN Jan 18 1485/1480 bull put spread
$AMZN Jan 18 1535/1525 bull put spread
$BA Jan 18 295/290 bull put spread
$BOIL Jan 18 45 calls
$GWW Jan 18 280/270 bull put spread
$RIG Jan 18 16 calls (covered)
$SMH Jan 18 78/84/98/104 iron condor
$STX Jan 18 37 puts
$UVXY Jan 18 65/75 bear call spread
$UVXY Jan 18 65/70 bear call spread
$UVXY Jan 18 75/80 bear call spread
$UVXY2 (pre-1:5 split) 15/25 bear call spread
$VXX Jan 18 long 20 puts (full loss)
$WYNN Jan 18 100 puts

$MCD Jan 18 170/175/182.50/187.50 iron condor–should have expired but I got too cute and didn’t close out the short call side and it finished .07 in the money. So I’ll have to deal with a buy in from assignment on Tuesday morning.

Have a great weekend everyone.

Closing TQQQ

Options ITM so closing for a profit to avoid assignment.
Bought to close $TQQQ Jan 18 45 put @ .45. Sold for 2.15 on 9/5.

SPX 1-dte, legging in

#SPX1dte Sold $SPX Jan 22nd 2715/2735 call spreads for .45. Legging in as I see us going lower into the close. Will sell puts soon.

#spx1-dte

SSO TNA TQQQ UPRO collars

After several months of selling weekly calls, buying puts, put spreads, and put flies, I’m in the green on SSO and UPRO. TNA and TQQQ are not far behind after being deeply in the red at Christmas.

#spikedcollars

STX

STO Feb 15 2019 37.50 P @ 1.15
After earnings, would be glad to take the stock down there and then write calls and take dividends.

It’s been quite a while since I’ve posted anything as I needed to take a complete break from options as I was trading too much for me. Glad to see some new names and “faces” and ideas.

UVXY hedge

#VXXGame Bought to Open $UVXY Feb 15th 100 calls for .36. I want to have room to sell premium if we get another market pull back. If we don’t, then small loss. (these reached a peak of 13.00 in late December)

AAOI LABU MO STX TNA TQQQ UVXY

#CoveredCalls #ShortPuts #LongPuts #LEAPS – Various adjustments…

AAOI: Feels like a family member now…LOL Replacing this week’s expiration
Sold AAOI FEB 15 2019 17.5/22.5 Bear Call Spreads @ .46 (prior to earnings hopefully)

LABU:
Will be assigned stock at 56.60 basis

MO: LEAPS are now unhedged leading into earnings…(for now)
Bought to Close MO JAN 25 2019 50.5 Calls @ .02 (sold for .25)

STX:
Will be assigned a little more stock at 40.20 basis

TNA: Rolling covered calls and assignment
Rolled TNA Jan 18 2019 50.0 Call to Feb 22 2019 52.5 Call @ .01 credit
Will be assigned stock at basis of 62.70, 56.95, and 56.00

TQQQ: Booking covered calls. No new sales yet. (partial fill on this yesterday at .05 Grrrr!)
Bought to Close TQQQ Jan 18 2019 45.0 Calls @.40 (sold for 1.65)
Still watching a short 45.0 strike put. If assigned basis of 42.85

UVXY: Rolling ratio’d short puts down.
Rolled UVXY FEB 1 2019 72.5 Puts to MAR 15 2019 69.0 Puts @ .62 credit

Closing AMAT

To avoid possible assignment today with the options currently in the money.
Bought to close AMAT Jan 18 36 puts @ .24. Sold for 1.30 on 9/7.

MS calendar loses

#Earnings #Double Calendar Sold to close remaining parts of $MS Jan18/Jan25 45 double calendar for .131. Bought for .33 on Wednesday, plus paid .03 to close short calls yesterday.

So one small loss and a breakeven on this strategy so far. Oddly enough, the better play for neutral option strategies this week was NFLX. It’s upside world.

Econ Calendar for week of 1/21/19

Markets closed Monday for Martin Luther King holiday.

screen shot 2019-01-25 at 10.21.08 am

screen shot 2019-01-18 at 10.35.31 am

Link to calendar: https://us.econoday.com/byweek.asp?day=21&month=1&year=2019&cust=us&lid=0

#spycraft Closed 5 of the…

#spycraft

Closed 5 of the 10 short 266 calls for the Feb 1 expiration for 3.49. The new Tradestation screens apparently put my orders in last week twice, so I ended up with 20 contracts instead of 10 on the put side. It is doing well so will leave them but I don’t have the margin for the ladder now. So anyway, sitting on my hands on this one until next week.

Once I can close the put side will re-ladder.

However, I don’t really see any reason to sell the call side at the moment so will just open the put side and leg into the call side later. If you are going to iron condor I would skew to the upside a lot. Looks like there is panic buying now.

So now have 20 contracts of the 245/242 puts, 5 of the 266 and 10 of the 269 call side. Keep on rallying. Cost 3.49.

I also adjusted the other account. It is now the 242.5/240.5 put spread 5 of these and 3 of the 268/ and 5 of the 270. Cost 2.38 to close these.

I figure if we can keep rallying will be a winner. If not can resell on the pull back.

Ladder on 1 account STO the Feb 8 255/252 put spread for 0.21. 10 contracts

No point in adding the call side until we have 2 sided action again.

TOS question

When I closed down the application, it says “saving configuration.” How do I save configuration without closing the application?

SPY 21dte IC ladders

Sold SPY Feb8 275/277.5/255/252.2 call/put IC x2 @ .45
Joining the SPY21 dte ladder party with @hcgdavis. Will add a layer whenever a 21dte is available. Starting small but will increase size after I defend a couple to find out how that goes.
#spycraft

Call rolls

#LongLEAPs #SyntheticCoveredCalls
Rolled $SQ Jan 18th 66 calls to Feb 1st 67 calls for .25 credit.
Rolled $TQQQ Jan 18th 42.5 calls to Feb 1st 43.5 calls for .25 credit.

#earnings Z Way back on…

#earnings Z
Way back on Oct. 1, sold a Nov. 35/50 earnings strangle. Z had a record move down. I rolled the put to December and sold a 35 call to make a straddle. Z went back up and I ended up with an ITM 35 call that was rolled to today. It will expire and I will make .80, that is 80 cents after commissions. Time for a Little Debbie at the gas station.

SPX 1-dte stopped

#SPX1dte Upside stop was hit, so…

Bought to close $SPX Jan 18th 2680/2700 call spreads for .85. Puts will expire. Iron condors sold yesterday for .80, so I lost .05 and commissions. Will sell another for Tuesday expiration.

Looks like I picked the wrong year to…

#VXXGame #LongLEAPs Over the years I put a lot of research into the idea of buying long $VXX LEAP puts, since the symbol is dragged toward zero over time. I built an extensive spreadsheet showing how this strategy would have worked with every VIX leap expiration since 2006 except Jan 2009, during the financial crisis. (VXX was created in 2009, but there are models available of how it would have performed going back to 2004).

Other than Jan 2009, the 18-month to 24-month decline in $VXX is usually 60-90%; even as much as 97% down over 24 months.

So when I started buying the Jan 2019 VXX 20 puts on September 5th, 2017, the odds looked pretty good for a decent profit. I started scaling in and ended up with a total of 32 puts over multiple accounts, average price 1.603. I also sold some 50/60 call spreads against it, lowering that cost basis down to about 1.20.

But, guess what? Picked the wrong year! This is the first LEAP expiration since 2009 where this strategy did not work. And now $VXX is going away at the end of this month, replaced by $VXXB, which doesn’t have much volume yet. However, they HAVE finally added LEAPs, so I’ll be looking to start buying.

Also, because of the product termination, I closed my final short shares in $VXX today for 37.25. I was assigned 100 shares short for 27.00, and had managed to scale out of 30 of them when we dipped below 27.00 in September. Then, October happened.

#closing #assignment WYNN I was…

#closing #assignment WYNN

I was assigned this week on WYNN, after selling a Jan. 18, 113 call and selling the long put my cost basis was 115.
WYNN has pushed above 115, I closed the position to avoid assignment costs, didn’t want to roll with earnings next week, have another 100 shares assigned at a higher cost basis, WYNN is a big mover, out with a loss of just under $200.

Sensitive

#Market is way too reactionary to anything “tariffs.”

https://platform.twitter.com/widgets.js

#shortcallspreads TSLA Jan. 15 sold…

#shortcallspreads TSLA

Jan. 15 sold Feb. 1, 385/390 call spread for .81, bought today for .15

$T puts closed

#PieTrades #ShortPuts Well, was planning to let this expire or take assignment, but I forgot I had entered a GTC order weeks ago. So it just filled.

Bought to close $T Jan 18th 31 puts for .15. Sold for 1.37 on Oct 24th. Following @fuzzballl on this, but I’ll do the same thing again, sell ATM puts a couple months out, and if assigned take the stock (and dividend) and sell covered calls.

OKTA

This is breaking out to a new high so I sold the May 75 puts at 7.82 and bought a May 75/90 Bull call spread for 6.05, just following the charts.

SPX 1dte IC

#spx1dte Sold SPX Jan22 2695/2700 call credit spread @ .25 x12, 8 in one account and 4 in the other.
Sold SPX Jan22 2625/2620 pcs @ .25 x12 to complete my IC. One could say I waited too long. 🙂

Bot back 50% of 2625 short puts @ 1.35 on Tues, Jan 22 to defend this IC.

NFLX short calls

Sold $NFLX Feb 15 385 calls @ 2.60. I am long the stock, so no buying power reduction.

SPX 1dte IC closed

Out of my SPX 1dte IC from yesterday. Flat in one account. Lost $750 in the bigger account. Without defense, the losses would have been $1900 and $4050 so I’m ok with that.

#spx1dte

NFLX earnings

#Earnings – Stock is weak so taking a small winner instead of a small loser. Now it’s free to rally back!

Bought to Close NFLX JAN 18 2019 340/350/360 Iron Fly @ 7.45 (sold for 9.10)

#spycraft Making some adjustments to…

#spycraft

Making some adjustments to the call sides in SPY and EXPE. Too busy to post the actual trades at the moment, just trying to get them through. Will update later.

Looks like we are back in slow grind higher mode everyday.

T

#ShortPuts #IRA – I’ll look to re-load on any weakness…

Bought to Close T Jan 18 2019 31 Puts @0.25 (sold for 1.30)