AA 6 coveredcall
AAL 10 covered call called away
AAL 11 covered call called away
APA 10 covered call
BOOT 10 short put
BOOT 15 covered call
BOOT 15 put assigned
CAR 8 short put
CCL 7.5 short put
CCL 10 covered call called away
CCL 11.50 covered call called away
CPRI 12 covered call called away
FEYE 11.50 covered call
GPRO 2.50 short put
GPS 5.50 short put
GPS 8 short put
GUSH 1 put ns
HAL 8 covered call
HBI 8 covered call called away
HTZ 4 short put
LB short 13 put
LUV short 25 put
MRO 3.5 covered call called away
MRO 4 short put
NBL 7.5 covered call called away
NKTR 17 short put
NKTR 25 covered call
NTGR 21 short put
NUGT 11.50 covered call
OXY 16 covered call
SPY 230/250 long put spread full loss!
T 29.50 covered call called away
UBER 29 covered call
USO 7 covered call
VFC 60 covered call
Daily Archives: Friday, April 17, 2020
Expiration
$SPXL $32 Covered Call – ITM Shares called away.
$TLRY $7 Covered Call – OTM
Expiration
#bups
$AAPL 210/220
$AMZN 1900/1920
#shortcalls
$TWTR 37
$NVTA 20
$T 28
#shortputs
$PZZA 57.5 Thank you @jsd50101
$TWTR 35 Assigned
$DDOG 42 Assigned
$UBER 21
$MSFT 155
$PLAN 35
$XOP 35.50 Thanks @ramie77
$ENB 27.5
$UVXY 20 Thank you @jeffcp66
$PFE 35
$CODX 10 Thank you @honkhonk81
#LongPuts
$PTON BTO at 3.79. Ill be pedaling for a while to make this back.
OptionsExpiration
- Getting closer to $CASH after a long rally.
Expired:
ADS 04/17/2020 45.00 Covered Calls
AGNC 04/17/2020 13.50 Covered Calls
AAL 04/17/2020 15.00 Covered Call
IVZ 04/17/2020 12.00 Covered Call
GLW 04/17/2020 22.00 Covered Call
MRO 04/17/2020 4.50 Covered Calls
OXY 04/17/2020 19.00 Covered Call
SLB 04/17/2020 17.50 Covered Call
SLB 04/17/2020 18.00 Covered Calls
SLB 04/17/2020 19.00 Covered Calls
SLB 04/17/2020 20.00 Covered Calls
SLV 04/17/2020 14.50 Covered Call
WFC 04/17/2020 31.00 Covered Call #Earnings
FANG 04/17/2020 22.50 Put
Assignments:
BA 04/17/2020 85.00 Covered Calls (This is my largest gain of the year)
GPS 04/17/2020 7.50 Covered Call
HBAN 04/17/2020 8.00 Covered Call
HBI 04/17/2020 8.00 Covered Call
HFC 04/17/2020 26.00 Covered Call
JPM 04/17/2020 91.00 Covered Call #Earnings
NUGT 04/17/2020 9.00 Covered Call
SPX 1-dte Risk Reversal
#SPX1dte. Given the clearly bullish fervor that has gripped Wall Street, however irrational, I’m selling a more aggressive put spread and buying a call spread, all for a net credit.
Sold $SPX Apr 20th 2775/2755 put spreads
Bought $SPX Apr 20th 2790/2900 call spreads
Total credit: 0.55
IV 24%, SPX 2872, deltas: -.10, +.05
Expiring today: Apr 20th 2655/2675-2895/2915 condors, sold yesterday for 1.20
HFC Rollout
Bought to close HFC 04/17/2020 27.0 Covered Call / Sold 1 HFC 04/24/2020 27.0 Covered Call @ 0.95 Credit
TQQQ
#ShortPuts – Keep trying to get more stock but no luck once again. 🙂 🙂
Bought to Close TQQQ APR 17 2020 65.0 Put @ .05 (sold for 2.40)
Sold TQQQ APR 24 2020 66.5 Put @ 4.00
HAL Rollout
Bought to close 1 HAL 04/17/2020 8.50 Covered Call / Sold 1 HAL 04/24/2020 8.50 Covered Call @ 0.16 Credit with the stock at 7.42
XOM Rollup
Bought to close XOM 04/17/2020 41.0 Covered Call / Sold XOM 04/24/2020 42.0 Covered Call @ 0.39 Credit + 1.00 better strike.
Econ calendar for week of 4/20/20
Link to calendar: https://research.investors.com/economic-calendar/
SLB Put Roll
Bought to close 1 SLB 04/17/2020 17.50 Put / Sold 1 SLB 05/15/2020 17.50 Put @ 0.52 Credit.
SLB cut the quarterly dividend by 75% to $0.125 per share as part of the move to conserve cash and protect its balance sheet. The payout is set for July 9 to shareholders of record on June 3, according to Schlumberger.
AA
Bought to close AA 04/17/2020 8.0 Covered Calls / Sold AA 05/15/2020 8.0 Covered Calls @ 0.25 Credit
AAL Rollout
Bought to close AAL 04/17/2020 15.00 Calls @ 0.01. Sold these on 04/09 @ 0.29.
Sold AAL 04/24/2020 15.0 Covered Calls @ 0.18 with the stock at 11.70.
#shortputs EWZ Added June 19,…
#shortputs EWZ
Added June 19, 20 put for 1.00.
VIAC Rollout
Bought to close VIAC 04/17/2020 18.00 Calls @ 0.01. Sold these on 04/07 @ 0.18.
Sold VIAC 04/24/2020 17.0 Covered Calls @ 0.32 with the stock at 15.50.
BEN – I wasn’t going…
BEN – I wasn’t going to keep this but…
Between the great entry yesterday, the 7% dividend yield, and the good additional premium I rolled the call.
Bought to close BEN 04/17/2020 15.0 Covered Call / Sold BEN 05/15/2020 15.0 Covered Call @ 0.70 Credit.
The additional premium drops my net cost to 14.09 which is below the YTD low
SOXL
STO June 50 put at 2.25 with the stock trading at 125, This is a small position and I will scale in some more at better strike prices.
SPY
#ShortPuts – This completes the ladder for next week…
Sold SPY APR 24 2020 270.0 Puts @ 2.25
TNA Rollup
Bought to close 1 TNA 04/17/2020 16.00 Call / Sold 1 TNA 04/24/2020 17.00 Call @ 0.18 Credit + 1.00 better strike
UDOW
#ShortPuts – Playing it safe…
Bought to Close UDOW APR 17 2020 50.0 Put @ .19 (sold for 2.85)
RCL Covered Call – holding on for another week
Bought to close RCL 04/17/2020 33.0 Call / Sold RCL 04/24/2020 34.0 Call @ 1.18 Credit + 1.00 better strike.
This stock is so volatile, it could be 20 or 50 by next Friday
SPY
#ShortPuts – Starters for next week. C’mon down here Mr. Market…
Sold SPY APR 20 2020 277.0 Puts @ 1.25
Sold SPY APR 22 2020 272.0 Puts @ 1.45
SPY
#ShortPuts – Closing these a little early and look to re-load if we sell off a little this afternoon…
Bought to Close SPY APR 17 2020 273.0 Puts @.05 (sold for 1.75)
Bought to Close SPY APR 20 2020 260.0 Puts @ .10 (sold for 1.95)
CCL
Sold CCL 04/24/2020 15.50 Call @ 0.15 with the stock @ 12.36
#coveredcalls #DXCM
~ JEFFLSMITH ~ EDIT “DEXCOM COVERED CALLS – STOCK RISES $100+ IN A MONTH”
In the past month Dexcom (DXCM) has risen from $190 to over $300. Great news for the stock…..not so good for the APR 17 $260 call. It is discouraging when a stock goes on a huge run and you sold an “at the money” stock option before the rise. The example below is real. $50,505 gain from buying 500 stock on Mar 3 at $206.99. I sold Apr 17 $200 Calls when I bought the stock. The calls have been “rolled up” twice from $200 to $230 and then to $260. Rolling up required an additional $20,728 investment. Instead of a $50,505 gain on the stock the net gain is now $19,180, 40% of what it could have been.
But here is the good news. In 29 days the CC strategy is returning 19.1%. Annualized 241%. Rather than be remorse about the money I missed…..very happy with the potential return so far.
Today is decision day as the Apr 17 $260 calls expire.
Alternatives are:
- Do nothing. Let the options expire and take profit of $19,810.
2. Roll the options out (buy back Apr 17 $260 Call and sell May 15 $260 Call). Rolling the call out generates a credit of $8 per share or $4,000 (Buy back Apr 17 $260 Call for $49 ($24,500) and sell May 15 $260 for $57 ($28,500).
3. Roll the options out and up (buy back Apr 17 $260 Call for $49/share and sell May 15 $305 Call for $29/share. Rolling the call out and up requires an investment of $9,500 (500 shares x $49 = ($24,500) – 500 shares X $29 ($14,500). Rolling up and out increases the strike price from $260 to $300 ($40 a share upside).
On the surface alternative #3 looks like the best idea. The “wild card” is an earnings announcement in early May. Historically Dexcom has shown high volatility around earnings. Stock can go up or down by 10%. Many medical device companies are announcing Q1 earnings and pulling their financial projections for the rest of 2020 until they understand how Covid-19 will impact them.
The downside of adding more Dexcom investment is further portfolio concentration. Dexcom now represents $156K of $236K (66%) of the portfolio. Not a good situation if things were to go wrong.
Likely action…..allow at least 1 Apr $260 Call to be “assigned” and sell 100 shares of stock. Roll the remaining 4 Apr $260 Calls up and out….but not all the way to $305. Probably sell $280 or $290 to offer some protection over the earnings call. This takes some of the profit off the table and helps with the portfolio %. Income tax implications are important….but this is long enough.
Options Bistro 