Options Expiration

#OptionsExpiration – Just one. A nice chunk of EWZ stock called away for a small gain…

EWZ stock called away @ 40.0 (basis 39.41)

EWW

#ShortPuts – Stock looking weaker and no sense waiting two weeks for a few pennies. Watching for a re-entry…

Bought to Close EWW JUN 28 2019 41.5 Puts @ .13 (sold for .87)

NVDA

#ShortPuts – Another good week for this one. Still trading near the bottom of it’s range…

Bought to Close NVDA JUN 14 2019 145.0 Put @ .30 (sold last Friday @ 2.40)

Sold NVDA JUN 28 2019 140.0 Put @ 2.52

AVGO roll

#Earnings #Rolling Sold $AVGO June 21st 267.5/262.5 put spreads for 2.40.

I have the 270/267.5 put spread expiring today, so at the moment it will be max loss of 2.50. So I rolled to next week, going down ne stark and also widening to 5.

But it is rallying now so loss may be less than 2.50. I wanted to sell the roll before its price dropped much more.

Closing AVGO

Bought to close $AVGO 7/19 230/320 strangle @ 1.75. Sold for 2.92 yesterday.

VXX put spread

Bought $VXX 7/19 28/24 bear put spread @ 1.94 debit. About 1:1 risk/reward. Breakeven 26.06 in 36 days with VXX currently at 27.38.

A TRADE: HIIQ is a…

A TRADE: HIIQ is a weekly for next week. ;>)

HIIQ STO 6/21/19 30.0 CALLS @.65 Semi covered.

Have a great and safe weekend everybody.

SPX 1-dte

#SPX1dte Sold $SPX June 17th 2830/2850-2915/2935 condors for .90. (IV 7.28%, SPX 2887)

Expiring today: June 14th 2825/2845-2915/2935 condors, sold yesterday for 1.00

SQ News…

Square Stock May Get a Boost From Its Cash Card, Analyst Says — Barrons.com
DOW JONES & COMPANY, INC. 1:17 PM ET 6/14/2019

The loyalty features that come with Cash Card from payments company Square can help grow revenue, rather than be a drag on the company’s margins, KeyBanc’s Josh Beck said in a note to clients Friday.

Square stock was down about 1% in Friday trading.

The back story. The company’s stock is up more than 27% in 2019, which is something of a lull for shares that have almost tripled over the past two years.

That longer-term surge has been driven by fast revenue growth due in part to the rising use of credit and debit cards. Square’s Cash app, which competes with PayPal’s Venmo, has also increased in popularity. The Cash Card is a debit card that is linked to customers’ Cash app accounts. That let’s them spend the money in the Cash app for purchases anywhere Visa is accepted.

The Cash Card’s loyalty program is called “Boost” and it lets cardholders choose to receive discounts of 10% or more at various restaurants or coffee shops.

What’s new. The question, Beck noted, is does “the popularity of the loyalty feature crimp Square economics or is it a catalyst to drive ‘everyday’ type of spend and ultimately improve engagement?”

Beck’s analysis left him “more positive on the revenue potential for Cash Card,” he wrote. Overall, the financial cost of the loyalty program will be “more than offset by higher engagement,” from Cash cardholders, he concluded.

Looking ahead. Beck thinks that Square will compound annual revenue growth of about 35% over the next three years and will hit have a 26% margin by 2021. His target price is $100 a share, which represents about 40% upside.

BYND

#ShortCalls – My first trade in this thing. May add a put on any weakness. Expected move of about 23 points next week.

Sold BYND JUN 21 2019 190.0 Call @ 1.60