#longleaps #syntheticcoveredcalls
$TQQQ BTC 2/15 48.5 calls and STO 3/1 50 calls for additional .30 credit. Seemed to be rolling a lot more than I thought. Good exercise I suppose.
#coveredcalls
$NFLX BTC 2/15 350 calls and STO 2/22 362.50 calls for 4.60 debit. But would gain 12.50 if called away.
$NFLX looked strong today. Stock at 359.97.
#earnings TRIP
Sold March 15, 47.50/72.50 for 1.20
#fuzzy
GILD 70/70 10 DTE rolled out to 31 DTE for 0.28 credit. Cost basis down to 7.72. Hoping to have it to zero by the summer.
#LongLEAPs #SyntheticCoveredCalls
Still licking the wounds of last few weeks of calls being blown through.
Sold $TQQQ Feb 22nd 48 calls for 2.20
#CoveredCalls – Out the rest of the week so need to roll these today. Can’t get a pullback so doing best I can. This is definitely the downside of covered calls when profits are blocked. Can’t go up forever so at least some nice hedges for pullbacks. All covered calls…
SOXL: This one hurts with a basis of 72 covered at 95 and stock at 122. Uugh!
Rolled SOXL FEB 15 2019 95.0 Calls to MAR 15 2019 97.0 Calls @ .20 credit
TNA:
Too many to list. Most are ok and a couple DITM
TQQQ:
Rolled TQQQ FEB 15 2019 40.0 Calls to APR 18 2019 42.0 Calls @ .10 debit
WYNN:
Rolled WYNN FEB 15 2019 110.0 Call to JUN 21 2019 115.0 Call @ 1.63 credit
Rolled WYNN FEB 15 2019 120.0 Call to MAR 22 2019 124.0 Call @ .40 credit
#Earnings Sold to close partial $UAA Feb 15th 21 calls for 1.25.
Sold to close partial $SHOP dbl cals for 2.55
#earnings ATVI
Sold March 15, 35/50 strangle for 1.03. Thanks for the info Jeff.
#SPX1dte Sold $SPX Feb 13th 2690/2710-2775/2795 condors for 1.00. Slightly more aggressive, with a .07 delta, because .06 or below was not enough premium. (IV: 11.0%, SPX 2747)
#Earnings — $ATVI reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
Nov. 8, 2018 AC -12.39% Biggest DOWN
Aug. 2, 2018 AC -3.69%
May 3, 2018 AC +4.51%
Feb. 8, 2018 AC +1.90%
Nov. 2, 2017 AC -3.43%
Aug. 3, 2017 AC -3.06%
May 4, 2017 AC +1.37%
Feb. 9, 2017 AC +18.87% Biggest UP
Nov. 3, 2016 AC -3.85%
Aug. 4, 2016 AC -0.66%
May 5, 2016 AC +8.47%
Feb. 11, 2016 AC -7.86%
Avg (+ or -) 5.84%
Bias 0.02%, no bias on earnings.
With stock at 41.20 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 37.23 to 45.17
Based on AVERAGE move over last 12 quarters: 38.79 to 43.61
Based on MAXIMUM move over last 12 Q’s (18.9%): 33.43 to 48.97
#Earnings — $TAP reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
Nov. 7, 2018 AC +15.25%
Aug. 1, 2018 AC -11.22%
May 8, 2018 AC +22.79% Biggest UP
Feb. 14, 2018 AC +4.12%
Nov. 6, 2017 AC -23.22% Biggest DOWN
Aug. 8, 2017 AC +2.50%
May 9, 2017 AC +2.28%
Feb. 15, 2017 AC -10.96%
Nov. 8, 2016 AC -16.59%
Aug. 3, 2016 AC -8.49%
May 4, 2016 AC -1.72%
Feb. 11, 2016 BO +12.36%
Avg (+ or -) 10.96%
Bias -1.08%, slight negative bias on earnings.
With stock at 60.30 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 53.58 to 67.02
Based on AVERAGE move over last 12 quarters: 53.69 to 66.91
Based on MAXIMUM move over last 12 Q’s (23.2%): 46.30 to 74.30
@ramie77 Are you still holding the 2/15 $AMZN 1580/1590 BUPS? Thank you
#Earnings All of the tentative symbols on the list for today are now being estimated for morning of 2/20: CRON, ICPT, SINA, and WB.
#bullputspreads
$EA STO 3/15 95/100 BUPS at 1.90
TRADE: Falling knife. I think its hit the butcher block. Risky.
SLDB STO 2/15/19 7.50 PUTS @.25 & .30
#earnings ATVI
Jeff do you have ATVI data? Thanks
#coveredcallcampaign WYNN
Rolled Feb. 15 135 call to March 15, 140 call for .90, bringing cost b asis of assigned shares to 141.57, just prior to ex-div.
#bullputspreads
$TLRY BTC 2/15 60/70 BUPS at .50 STO on 1/11 for 3.80
Never ignore an UpW. Thanks, @jeffcp66. I’m so happy that someone introduced me to Options Bistro a couple years ago.
#shortcalls
$LABU STO 2/15 51.50 calls at .90 (Covered)
#Earnings Sold to close partial $SHOP Feb15/Feb22 175 #DoubleCalendar for 2.10. Bought yesterday for 1.60. Price moving toward strike so trying to close the rest for higher credit.
$TAP Dbl Cal is tapping out. Will need to see if a bounce comes into Friday. This was cheap (.34), so no biggie.
$UAA no gap but drifting higher so this may turn out well. #LongStraddle bought for 2.50.
Building an SPX Feb13 IC position today. Will keep tabs on it here.
Sold Feb13 2760/2765 BeCS @ .50 x1
Sold Feb13 2760/2765 BeCS @ .45 x2
Sold Feb13 2695/2690 BuPS @ .25 x2
Sold Feb13 2705/2700 BuPS @ .25 x2
Sold Feb13 2765/2775 BeCS @ .30 x1. Converted one of the 2760/2765 to 10w for .30 credit.
Sold Feb13 2715/2710 BuPS @ .30 x2
Total credit $380.
Will let you know how it closes tomorrow. May have to buy back a short call or two.
When all was said and done, I lost $419 on this batch of spreads. I bought back the 2760 calls on a breach early in the morning. It dropped soon after and never went ITM again. These trades continue to make the case for price staying within EM most of the time. Gotta stick to my rules of adjusting on a breach. Only lost about one day’s profits. Back to work tomorrow.
CRON STO 3/15/19 21.5 CALLS @.45 Covered
PYX BTO STOCK @20.0 Had to cover short calls that I sold this morning.
#CoveredCalls – Meant to roll this sooner but forgot about it. Exercised early on a call for this Friday. Unfortunately I sold it in the hole figuring the market wouldn’t rally to ridiculous levels. Exercised at 45 with a basis of 63 so an 18 point loss.
To replace this position: (exercised on 1 but selling 2 to keep the new puts at reasonable levels)
Sold 2 TNA JUL 19 2019 65.0 Puts @ 9.50
If the stock continues up the entire position is a 50 cent winner. If it implodes I’ll have the shares at a 64.50 basis which seems reasonable given the circumstances.
PYX STO 2/15/19 20.0 CALLS @.60 Good earnings yesterday.
Options Bistro 