/ES hedge

#Futures – A little more basis improvement on the short /ES hedge…so far keeping up with the rise. Should pay off someday when we get an Aug 2015 repeat.

SOLD /ES AUG 17 (Wk3) 2325 PUT @ 11.00

REGN

#IRA #ShortPuts – Sold REGN JAN 19 2018 350.0 Put @ 5.90

REGN

#ShortPuts – Back in but staying away from call sales…

Sold REGN JUL 28 2017 425.0 Put @ 2.00

UVXY

In anticipation of the next split I’m selling the rest of this position. Order has been in for awhile but wasn’t getting filled so came down a nickel…throw ’em in the drawer and check in six months. Got 2.92 for the first batch…taking a little less here.

#IRA #VXXGame – Once we get another reverse split and a little more drop after that I’ll cover these. Looking for 50 percent of max…

Sold UVXY JAN 18 2019 5.0/15.0 Bear call spreads @ 1.92

VRX

#LongCallDiagonals – Trying to take my lessons learned from AMZN and GOOGL. This thing is coming out of a daily squeeze and maybe just getting started. Rolling front month out and up early…this picks up about 100 deltas on the overall position.

Rolled VRX JUL 21 2017 16.0 Calls out and up to AUG 18 2017 18.0 Calls @ .03 debit

Still long Jan 2019 10 calls and short Jan 2019 7.5/5.0 Bull put spreads…

REGN…now the bad

#ShortStrangles – What a move! I sure didn’t see a two month 200 point move in a 350 dollar stock coming. Had something like 350/450 strangles when this thing took off. Rolled the 450 out to Sep and started rolling the 350 up as she climbed. Wasn’t nearly aggressive enough and kept getting further behind. Finally bailed on the whole thing yesterday when I heard new health care proposal could be pretty friendly to drug companies.

Long story short…gave back all of my REGN profits for the year plus about another 25 points. Being hard headed, I’ll set that aside and look to get it back on next pullback. Grrr…hate getting thumped by one of my all time favorite tickers. I thought we were friends!

GOOGL identical to the AMZN trade

#LongCallDiagonals – Long term diagonal (Whiz style trade) is pretty much dead money now so booking it. With the near vertical rise in this thing the short term call got away from me. So far ITM now that profit is basically capped on the LEAP call. After rolling the LEAP call up a couple times to reduce risk, I’m closing the whole thing except the Jan 2019 500/400 BuPS which I’ll close if I ever need the buying power. Ideally we get a pullback to start all over again.

Bought to Close GOOGL DEC 15 2017 900.0 Call @ 110.65
Sold to Close GOOGL JAN 18 2019 850.0 Call @ 194.70

After roll ups of LEAP call basis was down to 31.00 and front month sales brought in another 13.9 points.

When it’s all said and done a net gain of 66.95. Worked pretty good but having that front month call in the way really hurt. Next time I’ll be more aggressive getting out of the way. Of course, who could’ve seen a 250 point six month run coming…wow!