SPX

Rolled 8/23/2019 $SPX 2935/2945 #BuCS for 8/30 same strikes +@0.60. Jumped too soon, but wasn’t sure where things were going this morning, and didn’t want to be caught ITM. Have been kicking this can down the road for a while. $2.00 basis after today’s roll, and mark closed at $1.075. Could/should have waited until after lunch, and then just let it expire.

Sold today & Expiring $SPX 8/23/2019 2880/2895 #BuCS @1.10.

Hoping for a quiet news weekend and some recovery next week. Not holding my breath though.

Downside Warning again

#VIXindicator This is one of the more whipsaw-y corrections I can remember. Today was our fifth warning. I don’t think the bottom is in yet, but betting on that after the Aug 14th warning got me ripped up as the bounce was strong and protracted. (arrows represent the 4 Downside Warnings)

Screen Shot 2019-08-23 at 1.30.37 PM

SPX 1-dte

#SPX1dte. The market was so volatile before the close I waited until after the close to sell this.

Sold $SPX Aug 26th 2735/2755-2915/2935 condors for 1.30. IV 17.82%, SPX closed at 2848.

Rough week

Even though I ended the week with a couple of decent earnings trades (INTU and GPS), I took a pretty big hit on poorly managed SPX spreads in the whipsaw, and also a week-ending surge in NUGT and DRIP.

Expiring at max profit:
$GPS 15.5/20 strangles, sold yesterday for .62

Almost expired at max profit
$SPX 2915/2940-2980/3005 condors, sold for 2.90 on Monday. I closed the short puts for .30 in the last minute because I couldn’t trust it.

Expiring at max loss:
$SPLK 124/130/133 #BrokenWingButterfly, bought for 2.02 on Wednesday

CRM

Got out of my 125/165 spread for an .05 profit  for September 20 expiration. I think the charts look really ugly.

INTC closed

#PieTrades. Another one I’m closing with only minor loss, as I don’t want to deal with ITM naked puts or stock holdings in this market.

BTC $INTC Sep 6th 46 puts for 1.61. Sold for 1.49 on Aug 12th.

UVXY

#BearCallSpreads – Adding one…

Sold UVXY OCT 18 2019 50.0/60.0 Bear Call Spread @ 1.25

KHC puts & stock closed

#PieTrades BTC $KHC Aug 23rd 27 puts for 1.45.

That is only a third of my position; the other third was assigned. I was set to allow all of it to be assigned, but rather not carry burden of stock. So also unloaded the stock. Since I sold the puts for 1.23 on Aug 8th, this is closing at almost breakeven.

Sold to close $KHC stock for 25.58. Cost basis 25.67.

ISRG

#JadeLizard – Out a couple weeks for another try. Selling put side at the expected move.

Sold ISRG SEP 6 2019 465.0/495.0/500.0 Jade Lizard @ 5.50

SPX smackdown

#SPX1dte. Didn’t follow my rules rigidly enough and waited too long to close these. May mean I got out near the bottom rather than when stops were first hit, when I could have gotten out when SPX was around 2888.

BTC $SPX Aug 23rd 2860/2840 put spreads for 5.60. Condors sold yesterday for 1.10.
BTC $SPX Aug 26th 2845/2820 put spreads for 6.75. Condors sold Wednesday for 3.15

I went past my stops on Wednesday on the up side, when SPX just couldn’t get any higher after briefly touching 2930. But the call side premium is much lower when almost ATM on expiration day than put side is, so it’s less risky. That one expired worthless. This one may, too, but after missing fills on every bounce before this, I couldn’t risk another tweet-driven violent drop.