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.
#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)
#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.
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
Got out of my 125/165 spread for an .05 profit for September 20 expiration. I think the charts look really ugly.
#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.
#BearCallSpreads – Adding one…
Sold UVXY OCT 18 2019 50.0/60.0 Bear Call Spread @ 1.25