Sold ES at 8:20, just before the open, at 2265…based on weakness overnight…
Sold to open 5 contracts, at 2265
Exited at 2251 on the bounce
14 point gain @ $50.00 per point x 5 contracts
If the slide closes today under 2260, I’ll short the SPX mkt with a Delta 65 put..
My next level for the reversal is 2245, a 38% fib and 25dma…if it continues past the 2250 previous box bottom..
Something to keep in mind..
Double Top at the current high’s
reversal triggered by indicators
40 point neck – top
40 point neckline to bottom calc..
will it happen, I have no idea…but its just an FYI…
#spxcampaign
December 19 Sold 2ea Jan 27 2170 short puts @ 8.90
January 6 buy 2 ea jan 27 2170 short puts @ 2.00
Gain 77%
Trade exited as ES bounced at the High of the session..
Fib Extension ( 100%) is at 2285, SPX hit 2281 and pulled back…thats good enuff for me..
january 6 Sell 2ea Jan 27 2220 short puts @ 4.90
Jan 4 STO 2 Feb 03 2080/2180 BUPS @ 4.51
Close and Rolled SPX Short side puts
Dec 23 Sold 2 Jan 31 2140 short puts @ $7.70
Jan 04 Bought 2 Jan 31 2140 short puts @ $3.20
Gain @ 60%
Jan 04 Sold 2 Jan 31 2180 short puts @ $5.50
#spx
Closed out Jan 13 BUPS
Dec 31 Buy 1 Jan 13 2100 put -$0.75 -$75.00
Dec 20 sell 1 jan 13 2200 put $5.70 $570.00
Jan 4 Buy 1 jan 13 2200 put -$1.90 -$190.00
Jan 4 Sell 1 jan 13 2100 put $0.30 $25.00
gain 67%
Bought 5 ES contracts as ES bottomed in its sideways channel at 12:30 at 2240, set my stop at 2239, trailed the stop up each point of movement, Exited my trade at 2246, for a 6 point gain…exited at 2pm, my cutoff time..as I dont trade against the pro hour..
6 points X 50.00 per point = 300.00, X 5 contracts = 1500.00…
As we enter the last hour of the trade year….and the Tax Selling Pro hour starts, Everyone have a safe and Happy New Year weekend…Hope the new Year gives you profitable trading and a good life…
The Wiz..
#futures
Sold 5 /ym ( dow e-mini’s ) at the 19750 level ( 61% fib retracement), closed the trade at the 19730, near the established low of the morning..for a nice 20 point gain..
STO 2 Feb 03 2300/2380 Call Credit Spread (BECS) @ 7.63
Tomorrow is the Last trade day of 2016…quite possibly some Big Guys doing some Tax Selling..Just an FYI…
#spx
STO 2 Jan 31 2040/2140 BUPS @ 4.90 cr.
Sold 5 contracts of /YM at 10:30 on the retracement to the 38% Fib, sold at 19880
set the stop at 19890…
Move my stop at at every 10 point profit on the way down for the morning sell off…
Stopped out at the 127% fib expansion at 19810 for a 70 point gain, just before noon CST
50.00 per each 10 point move per each contract…X 5 contracts, made a nice morning…
happy Holidays to all of you…its been a decent year of trading for me..I hope everyone had a good year, and hope 2017 is a better one…I passed my Level-1 CMT in October, so things are going well…Be safe and stay warm…
Cheers,
The Wiz
Dec 12 Sell 1 Jan 13 2150 put $6.60 $659.00
Dec 20 Buy 1 Jan 13 2150 put -$2.50 -$250.00 gain @ 61%
Dec 20 sell 1 jan 13 2200 put $5.70 $570.00
something to do while the mkt plays in the sandbox…
STO 2 Jan 20th 2290 short calls, @ 17.25, replacing the short calls I closed at 3pm yesterday…these were sold with ES at 2262 a few mins ago..lets see which way the Descending Tria breaks out ….
BTC 2 Jan 20 Short 2310 puts at close @ 9.50, sold this morning in a call spread @ 12.00, for a quick 25% gain…
while I got the sell down after the fed conf I wanted, and a close below the 2260 gap-up yesterday, and a reversal signal in my indicators, I will wait for a continuation of the reversal to sell the 2290 short calls…if it moves up a lil before it falls, thats fine also..The bottom of the 2nd Gap-up window is 2245, the 38% retracement of this runup since 12/4 is 2242…if we close the window and break below the 38%, we have a potential 40 point fall zone…if not the 2285 Expansion level looms overhead…stay tuned..
STO 2 Jan 17 2310/2390 Call Spread @ 10.00 credit
Stocks have outperformed bonds by 6.75 percentage points during the last 20 trading days.
The S&P 500 is 5.33% above its 125-day average.
During the last five trading days, volume in put options has lagged volume in call options by 44.33% as investors make bullish bets in their portfolios.
The Fear/Greed Indicator is at 88, indicating Extreme Greed and High Risk…
SPX is up nearly 70 points since the reversal on 12/5….
Trade safely
December 5th BTO 2 Jan 06 2350 Long Calls @ 0.50
December 13th STC 2 Jan 06 2350 Long Calls @ 2.40
December 5th Sell 2 Dec 30 2150 puts at $4.70 Credit(940.00)
december 13th buy 2 Dec 30 2150 puts at $2.00 Debit( 400.00)
gain 57%
Since 1990, the Vix and SPX have moved together upward for a 2 day run, 82 times..The resulting Mkt moves are about 50-50 for direction…
Rolled My Dec 16 Long Call
Nov-18 BTO 2 Dec 16 2260 Long calls @ 2.50
Dec-7 STC 2 Dec 16 2260 Long calls @ 5.00
Dec 7 BTO 2 Dec 16 2280 Long calls @ 1.85
Closed out Jan 06 week, freeing up some Margin and taking a profit as ES topped at the R3, a 3 PP move for the day
5-December STO 2 1980/2080 BUPS @ 4.61
7-december BTC 2 1980/2180 BUPS @ 1.50
Gain @ ~ 60%
30-Nov STO 2 Dec 30 2110 Short Puts @ 6.90
07-Dec BTC 2 Dec 30 2110 Short Puts @ 2.60 gain ~ 65%
07-Dec STO 2 Dec 30 2150 short puts @ 4.70
Closed Dec 23rd Week
BTC 2ea Dec 23 2040/2140 BUPS
25-nov BTO Long 2040 @ 2.50
25-Nov STO Short 2140 @ 8.60
7-dec BTC Short 2140 @ 2.20
7-dec STC Long 2040 @ 0.60
gain @ 75%
Short Strangle
STO 1 Jan 13 SPX 2100 short put @ 7.14
STO 1 Jan 13 SPX 2260 short call @ 6.89
Credit @ 14.03
Sold to open
qty 2 Jan 06 Long 2350 calls @ 0.55
qty 2 jan 06 Short 2250 calls @ 7.95
Entered with ES at the top of its 3 PP swing to the upside
Bought to close
qty 2 Dec 09 2140 short puts at 0.50, sold previously at 4.30 November 22nd…approx gain ~ 85%
Be aware of Sundays Vote in Europe and what the Forex/Futures mkts might do overnight…and what effect it may have on our mkts monday morning….just an FYI..
STO 2 Jan06 1980/2080 BUPS at 4.61 credit
https://www.tastytrade.com/tt/tastyworks?utm_content=buffer96c6c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
For those interested in a new brokerage platform…
7 dma – 2190
Prior R/S – 2180
3/8’s retracement – 2167
My Long Put for Mar2017 (delta 70 ) entered on 11/28 is doing nicely…
A massive rally in oil led to a big rally in oil stocks, and conversely a big sell-off in sectors that might get hurt from higher inflation. Bonds also got walloped as any whiff of inflation hits that futures product hard. With Bonds near their October 2015 lows, while the SPX is near an all-time high some real portfolio adjustment is just about to hit the market. The HUGE standout today were the FNMA stocks. – From Another Site…
Sold to open, 2ea Dec 30 2010/2110 BUPS for a credit of 4.45 per spread, 890.00 Total
BTO 2 Dec 30 2010 puts at 2.45, debit at 490.00, purchased at Delta 5
STO 2 Dec 30 2110 puts at 6.90, credit at 1380.00, purchased at Delta 13
SPX was at 2206 at the time..or thereabouts
BTC 2 Dec 07 2140 Short puts at $1.30, prev sold on 21-Nov,at $4.20, for a 60% win.
Since this was a Roll or second short put sold against my original long side, this week is closed out, as the price of the next Delta-12 Put is too close to current mkt price of 2210.
Market Momentum – The S&P is 2.8% above its 125 day average. This the furthest its been above this level in 2 years.
Put/Call – Put volume has lagged Calls in the last week of trading by 35%…again a 2 year low
Stock vs Bonds – Stocks have outperformed Bonds by 7.61% the last 3 weeks, indicating a rotation from safety to Risk.
Just a few passing observations going into the holiday rally period..
2016.11.28 Fluor FLR Enter at 54.32 – 55.00 Exit at or near 67.00
I am not taking it, but I thought I’d pass it on to anyone who may be interested…
Bought Shares in GDXJ and NUGT, based on moves I see happening in the Forex and a possible near term bottom in the Gold chart…
STO 2 Dec 23 2040/2140 BUPS at 6.06 ( credit of 1212.00 )
#spxcampaign
As we bump the 2210( 61% fib Ext ) I took my Dec16 Spread profit….
BTC 2 Dec16 2080 short puts at 2.50, sold on 17-Nov at 6.20
From a trusted Pro I chart and trade with:
This type of move never lasts forever. Meaning, it would be no surprise to see the markets reverse themselves as soon as Monday. However, I don’t think any potential reversal is going to last all that long. More importantly, if we do get a bit of a pullback, it may simply end up offering us some better entry points into certain bullish ideas.
Bought to Close Dec 9th 2080 short puts, At 1.55, Previously sold on Nov 15 at 5.20
Sold to open Dec 9th 2140 short puts, at 4.30
Rolled the Delta 5 2080’s to a Delta 15 2140…
BTC Dec 7th 2075 short puts at 1.15, Sold Nov 15th at 4.00
STO Dec 7th 2140 Short puts at 4.20
Rolled the 2075 Delta 4’s to a 2140 delta 15…
Executed as ES was at the 2192 low earlier
Have a great weekend all…
STO Dec 16 2210/2260 Call Credit Spread
USD/JPY Moves taking out more stops as The Yen Free Falls…
Bought to close $SPX Dec 16th 2040 Short puts for 4.00 Sold for 9.09 on Nov. 10
Sold to open $SPX Dec 16th 2080 Short put for 6.20
New Member – FibWizard
Newly Joined Jeff’s Terrific Site..My User ID signifies my trade and charting style..some of you may remember me from OMM, a few years ago..Like a few others on this Site, I sell SPX index options..and live off the decay, and trade via my TOS charting with a SPX daily/ES 5 minute chart. Cheers …
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