UVXY

Busy week away from the market again but still adding an experimental position on UVXY. Low risk high reward playing it’s long term downtrend. Reverse Whiz style.

#LongPutDiagonals #SyntheticShortStock – I’ll be adding a similar position on VXX after the split next week. I’ll let ’em race each other down and see what works the best.

BTW…TDA portfolio margin for this trade is only 2600 increasing to 4000 if UVXY doubles overnight…

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Synthetic short stock with disaster long calls (17.75 debit)

Sold UVXY JAN 18 2019 30.0 Calls
Bought UVXY JAN 18 2019 30.0 Puts

Long call for possible disasters capping potential losses:

Bought UVXY JAN 18 2019 40.0 Calls

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Weekly put sale against synthetic short stock to really boost the profits on this trade:

Sold UVXY AUG 25 2017 29.0 Puts @ 1.25

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The plan:

Sell weekly for the next 74 weeks and let the thing decay. Hopefully capture 10 dollars of the move from 30 to 10.
Once I get a little profit under it I’ll reduce the size or possibly eliminate the disaster calls so I’m only treating those as a temporary expense. Once I remove the disaster calls and get some of that debit back I don’t see how this thing can’t make any less than 100 points per spread with very little stress and risk.

WYNN

#ShortStrangles – Caught an upgrade this morning. These analysts can be annoying sometimes.

Rolled WYNN AUG 18 2017 128.0 Puts to WYNN AUG 18 2017 133.0 Puts @ 1.00 credit

AMZN

#LongCallDiagonals – Small roll until this thing proves it can get through the 50ma…

Rolled AMZN AUG 18 2017 970.0 Call to AUG 25 2017 975.0 Call @ 1.00 credit

32.80 in front month premium received in just 17 days. Trade could run as much as another 96 weeks to June 2019…

VXX

Gonna classify this under a new hashtag. The infamous #LongPutDiagonal although it will probably more than likely end up being a long term short stock position after the upcoming split. For now just messing around this week to get started…about a one-tenth position size.

Sold VXX AUG 18 2017 11.0/13.o Bear Call Spreads @ 1.00

Makes money below 12 and gets me some short stock if she spikes…I’ll add the rest after the split.

GLD

#PerpetualRollingStrangles – For safety since I’m pretty heavy on the put side…

Bought to Close GLD AUG 18 2017 121.0 Puts @ .25 (sold for 1.15)

NVDA

#ShortStrangles – Sold the puts pretty conservatively the other day waiting for a bounce. Looks like we’re getting it so moving up to just under the 50ma…

Rolled NVDA SEP 15 2017 135.0 Puts to NVDA SEP 15 2017 155.0 Puts @ 3.55 credit.

Position is now 155/175 Strangles @ 7.30

TOS update

Crashed all my watchlists. Guess I know how I’m spending my day. They can’t fix it either…

#Tastyworks