IRBT BTO STOCK @99.75 Added
Daily Archives: Friday, April 26, 2019
Taking a loss on NDX iron condor
For today’s expiration. Letting the put spread expire. Watching for a move down into the close to get a better price on on the call spread side.
#earnings #inversion #closing EA
Feb. 5, I sold an 80/100 earnings strangle. Through rolling and going inverted, and rolling some more, I closed a May 3, 90/105 inverted strangle today and made $10.55 after trading costs. EA went way down, then way up, classic whip saw. If I would have done nothing, I may have been OK, but I’m taking the $10 and going to happy hour to plan trading the next earnings on May 7.
SBUX closed
#Earnings Closed last batch for .95
SPX 1-dte
#SPX1dte Sold to Open $SPX Apr 29th 2875/2895-2950/2965 condors for 1.35. (IV: 6.89%, SPX 2929)
Econ Calendar for week of 4/29/19
#Jobs report is Friday at 8:30am ET
Link to calendar: https://us.econoday.com/byweek.asp?day=29&month=4&year=2019&cust=us&lid=0
SPOT condor
#Earnings Sold to Open $SPOT May 3rd 127/129-145/147 #IronCondor for .96 and .95.
Strikes outside stock’s previous max moves, and risk/reward is just shy of 1:1.
AMZN half closed
#Earnings Bought to close half of my position, $AMZN Apr 26th 1885/1915/1945 #IronButterfly for 13.22. Sold yesterday for 28.15. Getting a bit nervous about this uptrend… I want to give it more chance to come back to 1915, but locking in nice profit on this first batch now in case it keeps going.
A TRADE:
IRBT BTO STOCK 99.79
#shortputs HOG
Sold May 17, 36 put for .59 HOG is just under 37, seems to have bottomed at 36.
Moth to the flame TRADE:
IRBT STO 5/3/19 BuPS 98.5/95.5 PUTS @.97
SBUX half closed
#Earnings Sold to close half of my position, $SBUX Apr26/May03 77 #DoubleCalendar for .85. Bought yesterday for .30. Waiting on the other half as this may be close to a pin. Same with $AMZN.
NDX IC for today
Another TastyTrade idea.
Sold 4/26 7710/7730/7800/7820 iron condor for 5.36.
#shortstrangles TSLA
TastyTrade idea, sold June 21, 160/325 strangle for 3.58
SPOT earnings analysis
#Earnings I usually don’t take trades on Monday morning earnings, but this stock has excellent premium and thus far, modest moves. However, its history is short so it could surprise us. That is reflected in the expected move, which is much higher than its historical average move.
Looking at a condor, with wings 2-points wide.
$SPOT reports Monday morning. Below are details on earnings one-day moves over its entire history.
Feb. 6, 2019 BO -2.83%
Nov. 1, 2018 BO -5.69% Biggest DOWN
July 26, 2018 BO +4.40% Biggest UP
May 2, 2018 AC -5.65%
Avg (+ or -) 4.64%
Bias -2.44%, negative bias on earnings.
With stock at 137.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 125.96 to 148.04
Based on AVERAGE move over last 4 quarters: 130.64 to 143.36
Based on MAXIMUM move over last 4 Q’s (5.7%): 129.20 to 144.80
Based on UP max only (4.4%): 143.03
Open to requests for other symbols.
#earnings #closing GRUB
Yesterday sold 50/90 strangle for 1.41, bought this morning for .47.
IRBT roll
Rolled $IRBT 90/100 4/26/2019 #BUPS to 5/10/2019 $1 credit.
Profits in the end
Was able to turn $NOC double calendar into a profitable trade by taking assignment and then legging out. Sold the long puts for 16.00 at the open, then closed stock for 280.50.
And on one account that I hadn’t noticed was still open last night on $MMM, did the same thing… sold long puts for 30.00 and covered stock for 191.00, netting 1.00 on the close and a tiny profit on the trade. Better than a loss! And for once, I played the swings right… usually a weakness for me.
Options Bistro 