#CoveredCalls – Keeping it pretty tight betting no major agreement over the weekend. Now we wake up Monday morning with TNA at 75…LOL
Bought to Close TNA NOV 30 2018 65.0 Calls @ .05 (sold for 1.55)
Sold TNA DEC 14 2018 65.0 Calls @ 2.36
Author Archives: fuzzballl
UPRO
#ShortPuts #IRA – Late fill…
Bought to Close UPRO DEC 21 2018 30.0 Put @.10 (sold for 1.05)
OLED
#ShortCalls – Just for safety taking these extras off…
Bought to Close OLED NOV 30 2018 94.0 Calls @ .37 (sold for .85)
Bought to Close OLED NOV 30 2018 95.0 Calls @ .17 (sold for 1.15)
AMBA Earnings
#Earnings #IronFlies – Let’s try it again…risk .27 to make 1.72. Two wide on a 3.90 expected move. Low risk, low probability, high reward.
Sold AMBA NOV 30 2018 32/34/36 Iron Flies @ 1.73
TNA
#ShortPuts #IRA – With enough risk in Dec and Jan I’m looking out to Feb now. 21.5% annualized or a pretty good price to buy some stock if it gets there.
Sold TNA FEB 15 2019 50.0 Put @ 2.20
TNA
#ShortPuts #IRA – Just for risk reduction. Now hoping my 65 strike covered calls expire tomorrow. Threading the needle again. 🙂 🙂
Bought to Close TNA NOV 30 2018 60.0 Puts @ .10 (sold for 2.25)
BOIL
#BearCallSpreads – Surprised I got filled on this one. Better than yesterday even with the stock down a little.
Sold BOIL MAR 15 2019 50.0/60.0 Bear Call Spread @ 3.25
UNG
DLTR Earnings
#Earnings #IronFlies – Not looking like it’s gonna come back so taking a tiny loss instead of small loss…LOL Now I can try again in something else. On the bright side the pin action is carrying over to DG although I think DG is a much better store. 🙂
Bought to Close DLTR NOV 30 2018 80.5/83.5/86.5 Iron Flies @ 2.70 (sold for 2.59)
OLED
#ShortCalls #BullPutSpreads – Replacing this week’s with a half size for now…
Sold OLED DEC 7 2018 98.0 Calls @ .72
DG
#ShortCalls #BullPutSpreads – Re-loading for earnings. Nice bounce is allowing a sale at 1.5x the expected move and well above the all time high. I may adjust this down prior to the announcement. Selling against bull put spreads.
Sold DG DEC 7 2018 122.0 Calls @ .60
UVXY
#LongPuts #LEAPS #ShortCalls – Selling a call now against where I will hopefully be able to sell a new batch of puts tomorrow. Ratio is now 16 long puts against 8 short puts against 3 short calls (calls spread out to only one per week for safety). Trying to generate as much cash as possible over the next 111 weeks.
Sold UVXY DEC 7 2018 60.0 Call @ 2.30
DLTR Earnings
#Earnings #IronFlies – As usual…low risk and low probability but good reward if it works. Risk .41 to make 2.59 playing 3 wide on a 5.90 expected move.
Sold DLTR NOV 30 2018 80.5/83.5/86.5 Iron Flies @ 2.59
TQQQ
#LongCalls #LEAPS – Lots of time left on this one so taking the small loss since it’s getting a little DITM and sold below the LEAPS.
Bought to Close TQQQ NOV 30 2018 47.0 Calls @ 2.90 (sold for 2.50)
TNA
#LongCalls #LEAPS – Just in case this rally has any follow through tomorrow I’m getting out of the way with a decent weekly profit. Looking to re-load higher at some point.
Bought to Close TNA NOV 30 2018 63.0 Calls @ 1.01 (sold for 2.45)
UVXY
#LongPuts #LEAPS #ShortCalls – Even though UVXY is down today, it’s still historically high so booking and re-selling. Hoping to add another on any decent pop.
Bought to Close UVXY NOV 30 2018 60.0 Call @ .24 (sold for 4.40)
Bought to Close UVXY DEC 7 2018 70.0 Call @ .42 (sold for 4.10)
Sold UVXY DEC 14 2018 60.0 Call @ 2.25
BOIL
#BearCallSpreads – Adding one. Sold the first one into the panic for 4.27. Gonna be hard to match that…
Sold BOIL MAR 15 2019 50.0/60.0 Bear Call Spread @ 3.00
DG
#ShortCalls #BullPutSpreads – Just for safety booking a small gain on the weekly sale. I’ll reload for earnings next week…
Bought to Close DG NOV 30 2018 110.0 Calls @ 1.70 (sold for 2.00)
Long Calls, LEAPS and a Fuzzy twist…
I’ve got a couple experiments going on that are kind of interesting. They came out of long term positions where the weekly calls got run over. I booked the LEAP calls for gains and then rolled the run over weekly calls into bull put spreads and continued selling against them.
While doing this I’m beginning to wonder if that would be a reasonable way to play something long term without having to buy anything. (nothing out of pocket 🙂 🙂 )
For instance let’s look at WYNN. A stock that’s pulled back a lot with great weekly premium.
How about selling a Jan 2021 ITM 140/110 bull put spread for 18 bucks. 30 wide for 18 bucks so the max risk is 12 dollars. Sell weekly calls against the spread for the next two years only needing to cover the 12 dollars to have a risk off trade. What could happen long term?
1. Stock rallies then all good (assuming weeklies aren’t in trouble)
2. Stock tanks but you easily cover the risk with weekly sales.
3. A combination of both where selling just 50 cents a week makes 44 dollars profit at the end no matter where the ITM spread ends up.
I think I like these since they can be done without any cash outlay and the minimum required to cover the risk is considerably less (Jan 2021 LEAP calls are 25 dollars so over twice the risk of the ITM spread). Profit is “sort of” capped but that’s ok. The real money is in the weekly sales anyway.
Whaddya think?
REGN
#ShortCalls #BullPutSpreads – Still selling against Jan 2021 ITM bull put spreads to reduce basis if I eventually end up with the stock.
Sold 1 REGN DEC 14 2018 380.0 Call @ 2.55
XBI
#LongCalls #LEAPS – Sold XBI DEC 21 2018 85.0/95.0 Bear Call Spreads @ .63
RTN
#LongCalls #LEAPS – Glad I sold all those new positions yesterday…LOL
Bought to Close RTN DEC 7 2018 187.5/197.5 Bear Call Spreads @ .08 (sold for .70)
MO
#LongCalls #LEAPS – Can’t resist this one. I’ll take a shot for 4 cents a week. Half size to begin with…
Bought to Open MO JAN 15 2021 55.0 Calls @ 4.75
Sold MO DEC 14 2018 55.0 Calls @ .54
RTN
#LongCalls #LEAPS – Already up nicely on the earlier sale and some other spreads. Adding again with stops on the others. Basing these sales on resistance and the expected move.
Sold RTN DEC 21 2018 185.0/195.0 Bear Call Spreads @ .73
AZO
#LongCalls #LEAPS – Trade repair I entered on May 25th as a 1×1 LEAP position. Long up 135 points but blocked by weekly. Rolling the weekly out to earnings but not up. Taking the max downside protection in case May 22nd or Oct 17th repeats itself. Sweet spot would be a selloff to my short call strike. (an Oct 17th repeat! LOL)
Rolled AZO NOV 30 2018 742.5 Call to DEC 7 2018 742.5 Call @ 5.18 credit (great fill with my 4.25 offer 🙂 🙂 )
DUST
RTN
#LongCalls #LEAPS – This is one I’ve decided not to take out to 2021. Pretty boring so gradually covering the 2020 position.
Bought to Close RTN NOV 30 2018 187.5/197.5 Bear Call Spreads @ .04 (sold for 1.08)
Sold RTN DEC 14 2018 185.0 Calls @ .86
OLED
#ShortCalls – Sold OLED NOV 30 2018 94.0 Calls @ .85
EWW
#LongCalls #LEAPS – These were oversales so closing a little more aggressively…
Bought to Close EWW NOV 30 2018 43.5 Calls @ .03 (sold for .38)
UNG
UVXY
REGN
#ShortCalls #BullPutSpreads – Still selling against Jan 2021 ITM bull put spreads to reduce basis if I eventually end up with the stock. Orders sitting at a nickel forever with no sign of a fill. Bumped it up just a little and filled. These were over sales against the position so risk reduction also.
Bought to Close REGN NOV 30 2018 387.5 Call @ .15 (sold for 1.80)
Bought to Close REGN NOV 30 2018 390.0 Call @ .10 (sold for 2.50)
EWW
#LongCalls #LEAPS – Booking and selling a little more and while this thing is in the crapper I’ll pay a buck for another year of selling…
Bought to Close EWW NOV 30 2018 44.0 Calls @ .02 (sold for .40)
Sold EWW DEC 21 2018 43.5 Calls @ .40
Rolled EWW JAN 17 2020 49.0 Calls to EWW JAN 15 2021 49.0 Calls @ 1.10 debit
EWW
#LongCalls #LEAPS – Slight oversale against the LEAPS with alerts and stops set on the next week’s.
Sold EWW DEC 14 2018 44.0 Calls @ .48
SHAK
#ShortPuts #IRA – More risk reduction. Just a tiny loss in a position I’m not interested in anymore. Looking for some more divvy payers to sell instead.
Bought to Close SHAK DEC 21 2018 47.5 Put @ 1.55 (sold for 1.43)
Bought to Close SHAK DEC 21 2018 50.0 Put @ 2.49 (sold for 2.20)
SOXL TQQQ
#CoveredCalls #IRA – These will be way too aggressive if the G20 becomes a success. If not, they will be brilliant. 🙂 We know how that usually turns out. LOL
SOXL:
Rolled SOXL DEC 21 2018 115.0 Calls to DEC 21 2018 100.0 Calls @ 4.75 credit.
Stock basis of 91 with additional 12.35 credit received and covered at 100. Wouldn’t be horrible if the stock got called away…
TQQQ:
Sold TQQQ DEC 21 2018 48.0 Calls @ 2.05
SJM
#ShortPuts #IRA – Risk reduction ahead of earnings. Looking to sell again on any more weakness….
Bought to Close SJM JAN 18 2019 95.0 Put @ .89 ( sold for 2.39)
TNA
#LongCalls #LEAPS – Just a small 3 lot that I haven’t added to yet. Rolling down next week’s short calls for a little extra credit. I’m using overhead resistance and the expected move to pick these strikes. Staying prior to the G20 also.
Rolled TNA NOV 30 2018 66.0 Calls to NOV 30 2018 63.0 Calls @ .46 credit (second roll…2.48 total credit now)
Basis’ on both of these positions (TQQQ and TNA) have already been reduced by over 25 percent on 2021 positions 🙂 🙂
TQQQ
#LongCalls #LEAPS – Just a small 3 lot that I haven’t added to yet. Rolling down next week’s short calls for a little extra credit…
Rolled TQQQ NOV 30 2018 52.5 Calls to NOV 30 2018 47.0 Calls @ .77 credit (second roll…2.52 credit total now)
DUST
View from the cheap seats…
Interesting that in spite of the imploding market today the chips held up pretty good. SMH and SOXL held their own and NVDA and AMAT were up nicely. Short covering or some bottom pickers snooping around?
OLED TQQQ LABU-LABD
#LongCalls #LongPuts #LEAPS #CoveredCalls – Was out nearly all day but had a couple fills from standing orders and the beginning of another experiment 🙂
OLED:
Bought to Close OLED NOV 23 2018 98.0 Calls @ .05 (sold for .65)
TQQQ:
Bought to Close TQQQ NOV 30 2018 55.0 Calls @ .05 (sold for 1.19) re-load tomorrow hopefully…
Risk reduction on one contract taking the small loss…
Bought to Close TQQQ JAN 18 2019 40.0 Put @ 3.50 (sold for 2.50)
LABU/LABD
One of my most frustrating positions so going to try something. Converting the LABU long LEAP calls to long LEAP puts on LABD. The built in drag should help this and the call side was approaching massive whipsaw risk with sales so far below the LEAPS. New position is out to 2020 instead of 2021. Collect as much premium as I can between now and then and then see where it stands.
To establish the new position, I sold the calls and bought whatever puts were the same price and just rolled the basis to the new position. Long 25 strike puts now so will be selling above those but not nearly the whipsaw risk that the call side had.
Long story short…about 30 cents a week on a 5 lot is the goal. Hopefully can get most of that.
BOIL UNG and nat gas…
https://www.zerohedge.com/news/2018-11-18/optionsellerscom-goes-dark-after-catastrophic-loss-event-natgas-short-squeeze
UNG
OLED
#ShortCalls – Re-loading….
Bought to Close OLED NOV 23 2018 108.0 Calls @ .05 (sold for 1.00)
Sold OLED NOV 30 2018 95.0 Calls @ 1.15
SOXL
#ShortPuts #IRA – Replacing the 100 put closed earlier…
Sold SOXL JAN 18 2019 85.0 Put @ 6.80
SOXL
#CoveredCalls #ShortPuts – Out of the 100 put and now need a pullback for the 100 calls.
Bought to Close SOXL NOV 16 2018 100.0 Put @ .25 (sold for 3.50)
TNA….threading the needle
#CoveredCalls #ShortPuts – Replacing some covered calls and still watching 60 strike short puts…
Bought to Close TNA NOV 16 2018 65.0 Calls @ .05 (sold for 2.00)
Sold TNA NOV 30 2018 65.0 Calls @ 1.55 (staying just prior to the G20 summit)
EWW
#LongCalls #LEAPS – Nice to see some of these over sales coming in…
Bought to Close EWW NOV 23 2018 45.0 Calls @ .04 (sold for .31)
NVDA
#ShortPuts #IRA – I’ve been waiting a long time to get a shot at this for some longer term covered calls. Going aggressive to hopefully get some stock. Staying small…just one contract here to go with the Dec 140 put sold quite awhile ago. Always great premium in this ticker for the call sales.
Sold NVDA DEC 21 2018 165.0 Put @ 12.25
Posted from row 27…LOL
EWW
#LongCalls #LEAPS – Late fill yesterday….
Bought to Close EWW NOV 16 2018 45.0 Calls @ .01 (sold for .41)
SOXL
#ShortPuts #IRA -This thing can go anywhere so taking risk off a day early….
Bought to Close SOXL NOV 16 2018 90.0 Put @ .20 (sold for 5.10)
BOIL UNG /NG
Crazy!
LABU RTN SMH TQQQ WTW
#LongCalls #LEAPS – A few adjustments to bring in a little more (hopefully safely)….
LABU:
Rolled LABU DEC 7 2018 65.0 Calls to DEC 7 2018 55.0 Calls @ .61 credit
RTN: Replacing this week’s expiration.
Sold RTN NOV 30 2018 187.5/197.5 Bear Call Spreads @ 1.08
SMH:
Bought to Close SMH NOV 16 2018 98.5 Calls @ .05 (sold for .49)
Sold SMH NOV 23 2018 97.0 Calls @ .60
TQQQ:
Rolled TQQQ NOV 30 2018 57.5 Calls to TQQQ NOV 30 2018 52.5 Calls @ .73 credit
WTW: Double selling with stops on previous sales.
Sold WTW NOV 30 2018 52.0 Calls @ .70
Whiz….just missed him
LMAO….Whiz was leaving Vegas today after the trader’s expo and flew out on the airplane I brought in. Wish I woulda known ahead of time. Could have given him a link to the Bistro! 🙂 🙂
BTW…he was in coach. What the heck is that all about??
23 BUCKLEY EDWAR AC2 V MIA 29B
24 BUCKLEY SUSAN AC2 V MIA 29A
EWW
#LongCalls #LEAPS – Triple selling these. Stops on previous two sales…
Sold EWW NOV 30 2018 43.5 Calls @ .38
BOIL
#BearCallSpreads – Selling these in the money. Worked great on the big spike a few years ago so trying again. Starting with just one…
Sold BOIL MAR 15 2019 50.0/60.0 Bear Call Spread @ 4.27
TNA
#ShortPuts #IRA – Replacing the ones closed earlier…
Sold TNA NOV 30 2018 60.0 Puts @ 2.25
TNA TQQQ SOXL
#CoveredCalls – From what I can tell so far I think all of these will make very good long term covered call candidates. Would love to own ’em all at a low basis for nice income generation. Compared to regular dividend stocks I think these can blow those returns away. More volatile but that’s great for the selling…
TNA
#ShortPuts #IRA – Closing these a little early hoping to re-load on any weakness…
Bought to Close TNA NOV 16 2018 55.0 Puts @ .25 (sold for 2.40 and 2.95)
XBI
#LongCalls #LEAPS – These only need 50 bucks a week so staying careful with spreads…
Sold XBI DEC 7 2018 84.0/89.0 Bear Call Spreads @ .61
SMH
#LongCalls #LEAPS – Got out of half of this week’s so I can get the next sale going on the bounce. Still sitting on my nickel for the rest…
Bought to Close SMH NOV 16 2018 100.0 Calls @ .04 (sold for .58)
Sold SMH NOV 23 2018 97.0 Calls @ .45
CAH
#ShortPuts #IRA – Nice rally right up to resistance so booking it…
Bought to Close CAH JAN 18 2019 45.0 Puts @ .25 (sold for 1.95)
UNG
TQQQ
#CoveredCalls – Selling another batch staying prior to the G20 summit. Whiz says if any good news comes out of there the rally is on…
Sold TQQQ NOV 30 2018 55.0 Calls @ 1.19
TQQQ
#CoveredCalls – Partial fill…
Bought to Close TQQQ NOV 16 2018 58.0 Calls @ .05 (sold for 1.62)
UVXY
#LongPuts #LEAPS #ShortCalls – Taking a little risk off and looking for new sales…
Bought to Close UVXY NOV 23 2018 75.0 Call @ .75 (sold for 2.55)
Bought to Close UVXY NOV 30 2018 80.0 Call @ 1.09 (sold for 6.32)
REGN
#BullPutSpreads – Selling against ITM put spreads. Closing it now since this thing could be up 30 tomorrow….you never know.
Bought to Close REGN NOV 9 2018 385.0 Call @ .05 (sold for 1.70)
ROKU Earnings
#Earnings #ShortStrangles – Out at even. Any little bounce tomorrow and it might have been a decent winner but I’ll run while I can and look to re-load. Still a great year in this ticker. 6-0-1 now 🙂 🙂
Bought to Close 1 ROKU NOV 9 2018 50.0/70.0 Strangle @2.47 (sold for 2.54)
ERX
#ShortPuts #IRA #RiskOff – Another one I’m not completely comfortable with. See ya!
Bought to Close ERX JAN 18 2019 25.0 Puts @ 1.65 (sold for 2.02)
CRM
#ShortPuts #IRA – Stealing @Iceman ‘s #RiskOff tag here. Getting a weak bounce but with resistance still overhead I’m gonna book it and free up the cash.
Bought to Close CRM NOV 16 2018 140.0 Put @ 1.68 (sold for 2.65)
WYNN
#LongCalls #LEAPS – I’m finding another advantage of going out in time as far as possible. There’s no need to get super aggressive with weekly sales. Still very easy to cover cost by selling about 30 days out leaving plenty of room for whipsaw. Here’s my WYNN example:
Bought to Close WYNN NOV 9 2018 115.0 Calls @ .05 (sold for 1.32)
This reduces the basis on the 130 strike LEAPS to 23.05
With 26 months to go that only requires .87 per month to cover the cost so:
Sold WYNN DEC 7 2018 115.0 Calls @ 1.13
Expected move on the Dec 7th expiration is about 12 dollars so even though selling below the LEAPS, it’s still outside the expected move and well above the .87 required.
TWLO
#Earnings – I’m out taking max loss of .74 on a one lot. Assigned short shares overnight that I covered in pre-market. Sold the long call side at the open. Loss was slightly more than .74 with exercise fee and commissions.
Closed TWLO NOV 9 2018 66.0/71.0/76.0 Iron Fly
ROKU Earnings
#Earnings – Stand back….this thing could be at 30 or 100 now that I’m in. After WTW and OLED I’m only doing a single strangle.
Sold 1 ROKU NOV 9 2018 50.0/70.0 Strangle @ 2.54
UVXY
#LongPuts #LEAPS #ShortCalls – Now that we’re easing back into contango I’m going to lower the number of short calls I have at risk at any given time so gradually closing those for nice profits. I’ll continue selling one (or two) every week at the top of my put ladder. Short 10 puts against one short call would give me protection for about 30-40 points of upside depending on the week of the call sale. I would welcome the opportunity to roll the short call and let the puts expire…
Bought to Close UVXY NOV 16 2018 70.0 Call @ .38 (sold for 3.40)
Sold UVXY NOV 16 2018 50.0 Call @ 3.00
Analyzing just the call sale against the short puts gives this. The downside is exaggerated here since I’ve unchecked the LEAP puts that I’m long.
Options Bistro 