WDC……Need some advice
I have been assigned WDC short calls and was wondering what’s the best way to handle the short stock, especially now it’s running away. Hoping its not to late!
Monthly Archives: June 2019
TNA WYNN
#CoveredCalls – Just can’t quite get these to expire. Continuing to trickle them up…
Rolled TNA JUN 28 2019 59.0 Call to JUL 05 2019 60.0 Call @ .10 credit
Rolled WYNN JUN 28 2019 123.0 Call to JUL 05 2019 126.0 Call @ 1.05 credit
HQY call spread
Bullish on this stock that’s near the bottom of its range for the last couple of months. IVR is low (20) so I decided to buy calls. Bought $HQY 65/70 bull call spread @ 2.18. Bearish moving average configuration so I’m not looking for a huge breakout here.
REGN
#CoveredCalls – Getting what I can. Building a nice base and squeezing but could still go either way.
Bought to Close REGN JUN 28 2019 317.5 Call @ .10 (sold for 3.13)
Sold REGN JUL 05 2019 320.0 Call @ 2.33
LABU Rollout
Not going to let @optioniceman get all the dizzy activity.
#coveredcalls
$LABU BTC 6/28 $48 call and STO 7/5 $50 call at extra .59 plus $2 if assigned.
SRPT Bear Call Spread
#bearcallspreads
$SRPT STO 7/19 165/175 at 1.45
Econ Calendar for week of 7/1/19
#Jobs report on Friday
Link to calendar: https://us.econoday.com/byweek.asp?day=1&month=7&year=2019&cust=us&lid=0
CSX
#ShortPuts – Starter position but never got a chance to add. Running low on inventory so wouldn’t mind seeing a Trump/Xi throwdown at the G20 🙂 🙂
Bought to Close CSX JUL 05 2019 72.5 Put @ .10 (sold for 1.30)
DRIP FAZ TZA Reverse Splits
#ReverseSplit – https://www.nasdaq.com/markets/upcoming-splits.aspx
STZ Earnings
#JadeLizard – Better than nothing…
Bought to Close STZ JUN 28 2019 177.5/190.0/192.5 Jade Lizard @ 2.25 (put side expiring) (sold for 3.00)
Sold SPX early
#SPX1dte Taking exception to my normal rules and selling Monday’s 1-dte in the morning…. I don’t expect much movement today, and using the morning volatility and additional theta value to get good premium and a wide condor for Monday, which could see a strong move with news from China talks.
Sold $SPX July 1st 2825/2845-3000/3025 condors for 1.35, IV 16.2%, SPX 2934.
ABBV Put Closed
#shortputs
$ABBV BTC 7/19 65 put at .38. STO at 1.80.
STZ Fuzzy Earnings
#earnings #jadelizard
$STZ BTC 6/28 190/192.50 BECS at 2.20. STO at 1.04. I will let the 6/28 177.50 put expire. STO at 1.91. Thank you @fuzzball for the trade.
SPX 1-dte
#SPX1dte Sold Thursday: $SPX Jun 28th 2870/2890-2955/2975 condors for 1.00. IV: 10.66%, SPX 2928
STZ Earnings
#JadeLizard – No upside risk and selling the put at the expected move. Stock basis would be down around the May spike low if it implodes…
Sold STZ JUN 28 2019 177.5/190.0/192.5 Jade Lizard @ 3.00
ABBV T
#Shortputs – Booking a couple…
Bought to Close ABBV JUL 19 2019 65.0 Put @ .55 (sold for 2.01) thanks @geewhiz112 !
Bought to Close T JUL 05 2019 31.5 Puts @ .05 (sold for .53)
BYND BUPS
#bups
$BYND STO 7/19 120/130 BUPS at 2.15
WAB Put Closed
#shortputs
$WAB BTC 7/19/26 put at .80. STO on 5/30 at 3.50. Thank you @ramie77
A TRADE:
PLAY STO 7/5/19 38.0 PUTS @.35
A TRADE: An experiment.
PLAY STO 6/28/19 39.5 CALLS .35 Expires tomorrow. Will cover if necessary.
SPX 1-dte
BuPS 2885/2880 expiring 6/28/2019 for 0.25
STZ earnings analysis
#Earnings $STZ reports tomorrow morning. Below are details on earnings one-day moves over the last 12 quarters.
April 4, 2019 BO +6.54%
Jan. 9, 2019 BO -12.41% Biggest DOWN
Oct. 4, 2018 BO +5.38%
June 29, 2018 BO -1.78%
March 29, 2018 BO +5.31%
Jan. 5, 2018 BO -0.21%
Oct. 5, 2017 BO +5.41%
June 29, 2017 BO +9.75% Biggest UP
April 6, 2017 BO +9.60%
Jan. 5, 2017 BO +0.47%
Oct. 5, 2016 BO +0.07%
June 30, 2016 BO +6.37%
Avg (+ or -) 5.28%
Bias 2.88%, positive bias on earnings.
With stock at 185.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 174.86 too 195.14
Based on AVERAGE move over last 12 quarters: 175.24 to 194.76
Based on MAXIMUM move over last 12 Q’s (12.4%): 162.04 to 207.96
Based on UP Max only (+9.8%): 203.04
Open to requests for other symbols.
NKE earnings analysis
#Earnings $NKE reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
March 21, 2019 AC -6.61%
Dec. 20, 2018 AC +7.16%
Sept. 25, 2018 AC -1.28%
June 28, 2018 AC +11.12% Biggest UP
March 22, 2018 AC +0.32%
Dec. 21, 2017 AC -2.28%
Sept. 26, 2017 AC -1.91%
June 29, 2017 AC +10.96%
March 21, 2017 AC -7.05% Biggest DOWN
Dec. 20, 2016 AC +0.98%
Sept. 27, 2016 AC -3.77%
June 28, 2016 AC +3.84%
Avg (+ or -) 4.77%
Bias 0.96%, positive bias on earnings.
With stock at 83.40 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 79.27 to 87.53
Based on AVERAGE move over last 12 quarters: 79.42 to 87.38
Based on MAXIMUM move over last 12 Q’s (11.1%): 74.13 to 92.67
Based on DOWN Max only (-7.1%): 77.52
Open to requests for other symbols.
Expired / BYND Puts
#spxcampaign
$SPX 2795/2770 BUPs STO at 1.30
$SPX 2795/2770 BUPs (Sold in two accounts by fortuitous happening, i.e. not paying attention) STO at 1.45
$SPX 2900/2875 BUPs STO at .85
$SPX 2795/2770 BECS STO at 1.15
Thank you @jeffcp66
#longputs
$BYND BTO 6/28 157.50 put at 5.95 Stock a little like my ekg. We will see.
Closing ABBV
A quick 1 day profit, taking off for >50% of the max profit. Bought to close 7/19 65 puts @ .90. Sold for 1.94 yesterday. Thanks for the idea @geewhiz112 !
ATVI ITM rollout
Been rolling this losing trade out since November. Or maybe I should adopt a more optimistic attitude and call it a “soon to be ex-losing trade”. Rolled 7/19 50 puts out to 8/16 50 puts @ .85 credit with the stock at 46.76.
Total credit so far (this will be the 8th rollout): 2.17. Stock is let’s say around 1.00 below the August breakeven. Technically the stock is in an uptrend the last month and is now above the major moving averages with the 20 close to crossing above the 50. Of course there are earnings to deal with before August expiration. If the stock makes a run into earnings then I won’t have to worry about it.
#syntheticcoveredcalls
$TQQQ BTC 7/5 60 call and STO 7/19 62 call at even.
WBA earnings analysis
#Earnings $WBA reports tomorrow morning. Below are details on earnings one-day moves over the last 12 quarters.
April 2, 2019 BO -12.80% Biggest DOWN
Dec. 20, 2018 BO -5.02%
Oct. 11, 2018 BO -1.94%
June 28, 2018 BO -9.90%
March 28, 2018 BO +2.47%
Jan. 4, 2018 BO -5.17%
Oct. 25, 2017 BO +3.07%
June 29, 2017 BO +1.66%
April 5, 2017 BO -1.61%
Jan. 5, 2017 BO +0.06%
Oct. 20, 2016 BO +4.97% Biggest UP
July 6, 2016 BO -2.35%
Avg (+ or -) 4.25%
Bias -2.21%, negative bias on earnings.
With stock at 52.70 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 49.93 to 55.47
Based on AVERAGE move over last 12 quarters: 50.46 to 54.94
Based on MAXIMUM move over last 12 Q’s (12.8%): 45.95 to 59.45
Based on UP Max only (+5.0%): 55.32
Open to requests for other symbols.
SPX 9-dte
#SPX1dte Sold $SPX July 5th 2800/2825-3000/3025 condors for 3.90. IV: 16.22%, SPX 2923
TRADES:
TLRY BTO STOCK MINIMUM to cover a call @47.51
TLRY STO 6/28/19 45.0 PUTS @.60
TLRY STO 6/28/19 48.0 CALLS @.91
TLRY STO 6/28/19 48.5 CALLS @.83
SPX safety
#SPX1dte I closed my short June 26th 2875 puts for .05. When I woke up I was worried about the call side. Now I’m just being safe because I don’t trust this market to the downside.
SPX 1-dte
#SPX1dte Sold $SPX Jun 26th 2865/2875-2945/2955 condors for .55. Due to lower premium I am trying a different approach: wings that are only 10-wide and double the position size. Risk is theoretically the same… and it should be the same in practice too, as the spreads will be cheaper to exit when stops are hit since the closer-in long options will have more value.
IV: 10.79%, SPX 2916
ABBV
#ShortPuts – Thanks @geewhiz112 for the idea. Earnings should be the following week. 6.8% divvy at the basis I would receive the stock.
Sold ABBV JUL 19 2019 65.0 Put @ 2.01
#earnings MU
Sold July 19, 29/37 strangle for 1.06, profitable just outside the 1 day max moves. Thanks again Jeff.
AAPL put spread
Sold $AAPL 7/19 190/180 bull put spread @ 1.70 credit with the short strike at 30 delta, right around support,
ABBV Short Puts
#shortputs
$ABBV STO 7/19 65 put at 1.80. Stock dropped today on acquisition of Allergan.
VXX put spread
Bought $VXX 7/12 28/24 bear put spread @ 2.00. 1:1 risk/reward. Will look to take off for around 3.00.
AMZN Put Spread
#bullputspreads
$AMZN STO 7/19 1830/1880 BUPS at 6.35. Stock at 1895.73
CMG call spread
$CMG at resistance, now close to the low of the day. Sold 7/19 770/780 bear call spread @ 1.86 with the stock at 733.29.
ROKU July
Sold $ROKU 7/19 90/85 bull put spread @ 1.22.
A TRADE: A short strangle….
A TRADE: A short strangle. Keeps margin costs down.
TLRY STO 6/28/19 48.0 CALLS @1.06
TLRY STO 6/28/19 45.5 PUTS @1.10
PYX Covered Call
#coveredcalls
$PYX STO 7/19 22.5 call at .75. Stock initiated at Imperial Capital at outperform with target of $71. Price currently at 17.98, up $4.52 today. Going to look at selling some puts or way out calls.
FB Spread Closed
#bullputspreads
$FB BTC 7/19 165/155 BUPS at .17. STO on 6/12 for 1.70. Thank you @ramie77
TRADES:
TLRY BTO STOCK @47.38
GOOS BTC 7/5/19 38.0 CALLS @.75 Fat finger trade from yesterday. Lost commission expense.
MU earnings analysis
#Earnings $MU reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
March 20, 2019 AC +9.61%
Dec. 18, 2018 AC -7.91%
Sept. 20, 2018 AC -2.86%
June 20, 2018 AC +0.83%
March 22, 2018 AC -7.99%
Dec. 19, 2017 AC +4.02%
Sept. 26, 2017 AC +8.51%
June 29, 2017 AC -5.11%
March 23, 2017 AC +7.40%
Dec. 21, 2016 AC +12.68% Biggest UP
Oct. 4, 2016 AC -0.56%
June 30, 2016 AC -9.15% Biggest DOWN
Avg (+ or -) 6.39%
Bias 0.79%, slight positive bias on earnings.
With stock at 33.50 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 30.71 to 36.29
Based on AVERAGE move over last 12 quarters: 31.36 to 36.54
Based on MAXIMUM move over last 12 Q’s (12.7%): 29.25 to 37.75
Based on DOWN Max only (-9.2%): 30.43
Open to requests for other symbols.
SPX closed
#SPX1dte BTC $SPX June 26th 2900/2875 put spreads for .30. Condors sold Friday for 2.45; will let the 3000/3025 call side expire.
Also, expired yesterday: June 24th 2890/2910-2985/3000 condors, sold Friday for .65
FDX earnings analysis
#Earnings $FDX reports tonight. Below are details on earnings one-day moves over the last 12 quarters.
March 19, 2019 AC -3.49%
Dec. 18, 2018 AC -12.16% Biggest DOWN
Sept. 17, 2018 AC -5.53%
June 19, 2018 AC -2.69%
March 20, 2018 AC -1.17%
Dec. 19, 2017 AC +3.51%
Sept. 19, 2017 AC +2.08%
June 20, 2017 AC +1.60%
March 21, 2017 AC +2.12%
Dec. 20, 2016 AC -3.33%
Sept. 20, 2016 AC +6.89% Biggest UP
June 21, 2016 AC -4.53%
Avg (+ or -) 4.09%
Bias -1.39%, negative bias on earnings.
With stock at 158.00 the data suggests these ranges:
Based on current IV (expected move into Friday per TOS): 148.85 to 167.15
Based on AVERAGE move over last 12 quarters: 151.54 to 164.46
Based on MAXIMUM move over last 12 Q’s (12.2%): 138.79 to 177.21
Based on UP Max only (+6.9%): 168.89
Open to requests for other symbols.
ISRG Bull Call / SPX CAmpaign / NFLX Roll
#bucs
$ISRG BTO 7/19 525/535 BUCS at 4.92
#spxcampaign
$SPX 6/24 2890/2910-2985/3000 condors expired. Sold for.70 Thank you @jeffcp66
$SPX BTC 6/262985/3010 call side closed at 1.20. STO at .40. Leaving the put to expire.
#coveredcalls
$NFLX BTC 7/5 365 call and STO 7/19 375 call at added $4.10 credit. Earnings 7/17 so watching closely. Stock closed at 371.04
Downside Warning canceled
#VIXIndicator It’s been awhile since we started this Warning, so I missed the fact that it was canceled on Thursday with the new SPX high. So now we set up for either a new Downside Warning or an Upside Warning. See the sidebar for those levels.
XBI
#ShortPuts – Thanks @Ramie for the idea…
Sold XBI AUG 02 2019 77.5 Puts @ .84
A TRADE:
GOOSE STO 6/28/19 37.5 PUTS @1.10
NLSN–a little early perhaps
Sold $NLSN 7/19 22 puts @ .75. Stock hasn’t bounced yet today so I’m likely early here. But an assignment at 22 will give me a basis of 21.25 and a 6% dividend.
XBI August
Sold $XBI 8/16 78 puts @ 1.21. Strike below the May lows. Delta 20.
Would it make sense to…
Would it make sense to sell DUST puts at this time?
LATE POSTS:
GOOS BTO STOCK @37.08
TLRY STC STOCK @48.98 Have short calls, so will cover if it goes up.
TLRY STO 6/28/19 54.5 CALLS @1.10
Adding NUGT
Sold $NUGT 9/20 39 calls @ 1.46. New highest strike.
AMD
STO July 30.5 calls @1.05 against existing stock
NUGT rising
Higher strikes added.
Expirations / Closed Earlies
#optionsexpiration
$FIVE 125/130 BUPS
$NVDA 140/145/175/190 IC STO at $1.57 Thank you @ramie77
$SPX 2845/2865/2970/2990 1DTE STO at 1.10 Thank you @jeffcp66
$BA 320/330 BUPS Thanks again @ramie77
$ISRG 480/500 BUCS Remaining position. BTO at $10.
$ADBE 272.50/277.50 BUCS / STO 267.50 put (Limping Lizard earnings trade) Thanks for all the education from the reptilians out there, especially @fuzzballl
$KNX 30 put
$SQ 65 put Thank you @thomberg1201
$CTL 10 put Thank you @ramie77
$ARWR 18 put
$DHI 44 put
$CLX 145 put
$WK 60 call Covered
$ARWR 19 call Stock called away
$EVTC 30 call Stock called away
$PYX 22.5 call covered – wish it wasn’t
$AMZN 1980 $GOOGL 1190 $NFLX 370 All long calls. All capital gone. When will I ever learn. Do not BUY calls
$FL 50/55 BUPS Total Loss STO at $2.20
#spxcampaign
Closed Early $SPX 6/26 2960/2985 BECS at 7.50. STO at 1.50
Everyone have a delightful weekend. Thanks for all the help you share. May we all have a sumptuous summer.
(A little alliteration) @jeffcp66 Thank you for founding this site for a foundling like me. I love beer on Friday’s. 😉
Options Expiration for 6/21
Most of my positions were rolled but this is what was left to expire:
$BA 6/21 345/340 bull put spread
$DE 6/21 130/125 bull put spread
$MMM 6/21 170/160 bull put spread
$NFLX 6/21 325/315 bull put spread
$TLT 6/21 132/137 bear call spread
$UVXY 6/21 40/50 bear call spread
$X 6/21 14 puts
$BKNG iron butterfly 1670/1700/1730 expiring for full loss. Position had been adjusted/rolled a couple of times–total premium 20.60 so 9.40 loss.
Have a great first official weekend of summer everyone.
SPX 1-dte
#SPX1dte. Sold $SPX June 24th 2890/2910-2985/3000 condors for .65, IV 7.63%, SPX 2965. Another day of low premium as IV has plummeted.
Expiring, June 21st 2890/2910-2990/3010 condors, sold yesterday for .65
Jeff, I used to get an email when someone posted or made a comment but I no longer get any mail from the site. Is there a way to get them again?
GLD call spread
Borrowing an idea from TT (from yesterday).
Sold 8/16 136/143 bear call spread @ 1.05.
NVDA
#ShortPuts – Hoping for at least a little pullback in this thing to get back in next week…
Bought to Close NVDA JUN 28 2019 140.0 Put @ .26 (sold for 2.52)
SOXL TNA WYNN
#CoveredCalls #ShortPuts – Doing some rolling today…
Rolled SOXL JUN 21 2019 140.0 Put to JUL 19 2019 135.0 Put @ 6.70 credit (12.10 credit total now)
Rolled TNA JUN 21 2019 56.0 Calls to JUL 26 2019 58.0 Calls @ .20 credit
Rolled WYNN JUN 21 2019 115.0 Call to JUL 12 2019 118.0 Call @ .35 credit
Rolled WYNN JUN 21 2019 120.0 Call to JUN 28 2019 123.0 Call @ .05 credit
SPX roll
#SPX1dte Sold $SPX June 26th 2875/2900-3000/3025 condors for 2.45.
A TRADE:
GOOS BTO STOCK @37.24 A day trade. Trading around a full position.
BTC $STZ 170/180 6/21/2019 #BuPS…
BTC $STZ 170/180 6/21/2019 #BuPS @.30. Was STO 5/30 @1.37. Lower % profit than I was aiming for, but better a smaller win than a loss.
KMX closed
#Earnings. Sold to close $KMX Jun21/Jun28 83 #DoubleCalendar for 1.00. Bought yesterday for .43. Only got filled on 3, was going for 17. 😦
SPX 1-dte
#SPX1dte Sold $SPX June 21st 2890/2910-2990/3010 condors for .65, IV 13%, SPX 2954.
SHOP call spread
$SHOP printing an inverted hammer today and coming back inside the upper bollinger band on the daily chart. This may have topped out for now. Sold 7/19 340/350 bear call spread @ 3.33. Short strike above today’s high.
Keeping it on a short leash and will close out quickly if the stock reverses back up and tests 340 again.
A TRADE: I STO the…
A TRADE: I STO the contracts this morning, and BTO the stock too. So I’m rolling it out now for .16 credit, and 2.5 strikes higher.
TLRY BTC 6/21/19 47.0 CALLS @2.25
TLRY STO 6/28/19 49.5 CALLS @2.41
OK, I’m in, after being…
OK, I’m in, after being shut out all day. Comments are not timely.
BTO TLRY STOCK @45.68
STO TLRY 6/21/19 47.0 CALLS @1.00 Covered
STO TLRY 6/28/19 47.5 CALLS @1.70 Covered
Blow off top?
SPX plunging, Gold rising, VIX spiking.
RHT long shot
#Earnings #Takeover Bought $RHT June 21st 190 calls for .06, .09, .10.
I doubt this will go anywhere but it’s costing me almost nothing. Was filled for .09 on IB, then TOS would only allow .05 increments, so bought there for .10, then went back to IB, bidding .09 for more and was filled for .06. I was charged zero commission for the .09 bunch, but 1.44 per option on the .06 bunch.
Brokers can be nutty.
Options Bistro 