$WYNN STO 2/1 116 puts at 3.90 Earnings 1/30

$OKTA BTO 5/17 75/90 BUCS @6.40 Thank you @jsd501

SPX 1-dte LONG

#SPX1dte Bought to Open $SPX Jan 28th 2600/2620-2700/2720 iron condors for .70.

Filled after bell, Jan28th IV only 8.7%; expected move 18.77. HV still above IV, but dropping. ATR 43.35.

#earnings #rolling LRCX Jan. 23…

#earnings #rolling LRCX
Jan. 23 sold a Feb. 15, 120/160 strangle for 1.78, rolled today to March 15 125/160 for 2.59, LRCX up to 166 today.

INTC dbl calendar conversion

#Earnings #DoubleCalendar #LongStock #Assignment #Dividends

Sold to close $INTC Feb 1st 50 put for 3.20. Will be assigned long stock for 50.00. Add .54 for calendar purchase, subtract 3.20 from put sale, cost basis 47.34.

Will sell calls and hang on to stock for at least one dividend round.

#coveredcallcampaign AAPL Rolled Jan. 25,…

#coveredcallcampaign AAPL

Rolled Jan. 25, 160 call to Feb. 1 for 2.82. My cost basis on these assigned shares is 156.99 and I don’t want them anymore so if AAPL blows through earnings next week I’ll be happy as I have another lot , uncovered at a little higher basis.

SPX 1-dte closed

#SPX1dte Was hoping gov’t reopening might give us a final spike, but the spike was in the wrong direction.
Closed last batch of $SPX call spreads for 1.00. Bought for .70, closed for 1.62 avg price.

#earnings #doublecalendar INTC CL INTC…

#earnings #doublecalendar INTC CL
INTC I rolled the Jan. 25, 50 short put to March 15, 50 for .75, the short call will expire out of the money today. I’ll see what happens with the longs on Monday
CL I have the in the money 60 call and none of them have traded today, including, and especially, my attempts. I’ll take the short shares and see what happens on Monday, otherwise would be a push. I’m new to these types of trades and open to other ideas.

Gov’t Reopen?

Trump scheduled to speak soon, expected to announce a deal to (at least temporarily) re-open government.

SPY 21dte ladder

Sold SPY Feb15 255/253 BuPS @ .20 x2 to start third step of SPY 21dte IC ladder strat. Will add call side before the close.
Sold SPY Feb15 276/278 BeCS @ .24 x2 to complete the IC.

Econ Calendar for week of 1/28/19

*GDP Wednesday at 8:30am ET
*FOMC Meeting Announcement, Wednesday 2pm ET
*January Jobs Report, Friday 8:30am ET

Screen Shot 2019-02-01 at 10.22.06 AM

screen shot 2019-01-25 at 10.21.30 am

Link to calendar: https://us.econoday.com/byweek.asp?day=28&month=1&year=2019&cust=us&lid=0

SPX 1-dte

Sold SPX Jan28 2625/2620 BuPS @ .25 x6 in two accounts. The ES appears to be finding a new higher range in which to bounce around.:-)
Sold SPX Jan28 2700/2705 @.30 x6 to complete the IC.

Upcoming Earnings

#Earnings A few that were added late and just updated on the chart:

ILMN and AMD next Tuesday, Jan 29th, after market.
TSLA next Wednesday, Jan 30th, after market.

CAT earnings analysis

#Earnings $CAT reports Monday morning. Below are details on earnings FIVE-day moves over the last 12 quarters.

***NOTE: These are 5-day moves, since options traded for earnings will expire next Friday.

Tue 10/23/2018 BO -10.61% Biggest DOWN
Mon 07/30/2018 BO -2.82%
Tue 04/24/2018 BO -6.02%
Thu 01/25/2018 BO -3.42%
Tue 10/24/2017 BO +4.66%
Tue 07/25/2017 BO +5.47%
Tue 04/25/2017 BO +5.62%
Thu 01/26/2017 BO -1.38%
Tue 10/25/2016 BO -2.45%
Tue 07/26/2016 BO +5.17%
Fri 04/22/2016 BO -1.28%
Thu 01/28/2016 BO +7.51% Biggest UP

Avg (+ or -) 4.70%
Bias 0.04%, no directional bias on earnings.

With stock at 135.75 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 127.97 to 143.53
Based on AVERAGE move over last 12 quarters: 129.37 to 142.13
Based on MAXIMUM move over last 12 Q’s (10.6%): 121.35 to 150.15

Open for requests on other symbols.

SQ rip

#LongLEAPs #SyntheticCoveredCalls

I played this one badly this week. I had rolled last week to ITM Feb 1st 67 calls. I had the chance Tuesday to close for a profit with the pull back all the way down below 68. But I foolishly went by sentiment rather than reality: I thought weakness would continue through the week. That’s what I “thought”. In reality, it was simply a must-exit opportunity. Sold the calls for 5.75… could have exited for less than 3.00.

Now, they’re going for 10.50 as SQ resumes its strong rally.

Lesson learned. When ITM on calls, take any opportunity to exit. Don’t wait for a .30 exit.

#fuzzy WDC 40/40 rolled out…

WDC 40/40 rolled out 7 DTE for 0.45 credit. cb now 18.04.

AMAT 7 DTE 39 puts sold for 0.71 credit. Cb 38.29 if assigned. Smaller account so only 3 contracts.

Hoping the bottom on the chip sector holds but will roll or take assignment if not, true PIE style.

Holding on further #spycraft at the moment until we figure out the best defense, market is moving more than the options are priced for.


#ShortPuts – This is a little bit of a gamble since there are conflicting reports of an earnings date. I think it’ll be the following week so selling this. This would add to a stock position going into earnings with great call premium available…

Sold NVDA Feb 08 2019 145.0 Put @ 2.51


STO Feb 1 2019 42.50/45 BeCS @ 1.10 with stock at 43.30.
Expecting STX to come back down some prior to earnings on Feb 5.

Double Calendars closing

#Earnings #DoubleCalendar
Sold to Close $ETFC Jan25/Feb01 50 dbl cal for .50. Bought for .52 yesterday, so bitty loss.
Will include other closures in comments.

#shortputs SLB January 17, sold…

#shortputs SLB

January 17, sold Feb. 15, 40 put for 1.21, bought today for .18.


BTC WDC Feb 1 2019 33.0 put @ 0.05. Sold 2 days ago for 0.50.

SPX 1-dte, sold more

#SPX1dte Sold to close another third of $SPX Jan 25th 2765/2695 long call spreads for 2.25. Now profitable in all accounts. Waiting to watch action to sell last batch.

SPX 1-dte defense time

Converted SPX Jan25 call spread to fly 2675/2680/2685 for .85 debit (net cost of .30 per lot). This locks in a loss of $360 across two accounts unless price goes above 2675 before the close.
On a positive note, I reduced risk from $5280 to $360 on 12 lots.

Comments not showing?

#Welcome I usually have all comments show up automatically under Bistro posts. But occasionally they’ll stop showing and it will display “Show Comments”, and I’ll need to click that to reveal comments.

This means you need to remove website data. On a Mac with Safari:

–> navigate to Safari > Preferences >Privacy> Manage Website Data. Search for WordPress.com and then Remove. Next, search for OptionsBistro.com and Remove again.

You then may need to re-log-in to WordPress, but this should fix the issue.

Not sure how to do this on a PC, but basically you are removing cookies and website data for WordPress and OptionsBistro.


closed Dbl Cal on open $0.91 cost 0.036

SPX long 1-dte, partially closed

#SPX1dte Filled on an order I put in for overnight swings.

Sold partial position, $SPX Jan 25th 2675/2695 call spreads for 1.60. Condors bought for .70 last night.

That covers cost of trade on some accounts (where I closed half) and most of the cost on other accounts (where I closed a third). Will look for a higher move to close the remainder.