#Earnings #IronFlies – With this market and a max loss of 325 possible I’m taking what I can get and moving on. Didn’t get as much as I was hoping out of this and BIIB but still decent winners for quickies.
Bought to Close ILMN OCT 26 2018 300.0/315.0/330.0 Iron Fly @ 10.00 (sold for 11.75)
#ShortPuts #IRA – It is giving a chance to get back in. Good divvy down here so selling at the money.
Sold T JAN 18 2019 31.0 Puts @ 1.30
#LongCalls #LEAPS – This is a sale in the estimated earnings week but with WYNN you never know until the day of sometimes. Giving it a lot of room.
Sold WYNN NOV 9 2018 115.0 Calls @ 1.32
#LongCalls #LEAPS – A few buys a few sells and another 2021 roll on a beaten down name.
EWW:
Bought to Close EWW OCT 26 2018 48.5 Calls @ .02 (sold for .32)
Sold EWW NOV 9 2018 48.0 Calls @ .37
GLD: Ratio’d and rolling to give it some room…
Rolled GLD NOV 9 2018 115.0 Calls to DEC 21 2018 117.0 Calls @ .25 debit
LABU: Rolled LEAPS to 2021 and booked a weekly. No new sales yet.
Rolled LABU JAN 17 2020 110.0 Calls to JAN 15 2021 110.0 Calls @ 3.95 debit
Bought to Close LABU OCT 26 2018 70.0 Calls @ .05 (sold for 1.31)
OLED: Earnings sale leaving a lot of room to adjust prior to the announcement
Sold OLED NOV 2 2018 125.0 Calls @ 1.50
RTN: Selling half the week after earnings and waiting on the rest.
Sold RTN NOV 2 2018 202.5 Calls @ .70
SMH:
Bought to Close SMH OCT 26 2018 101.0 Calls @ .03 (sold for .65)
Sold SMH NOV 16 2018 100.0 Calls @ .58
XBI:
Bought to Close XBI NOV 9 2018 94.0 Calls @ .05 (sold for 1.14)
Sold XBI NOV 9 2018 87.0 Calls @ .65
#Earnings #IronFlies – I can’t walk away from the table. Risking my /NQ overnight profit here for a bigger payoff. Selling an iron fly just inside the expected move. 15 wide on a 19.80 move. Risking 325 to make 1175…
Sold ILMN OCT 26 2018 300.0/315.0/330.0 Iron Fly @ 11.75
#Earnings #ShortStrangles – Since there are other tickers I’d like to play on their earnings I’m booking this one since it’s a bit pricey. Goal was to get half of max but volatility expansion today isn’t allowing it. Stock is behaving nicely but strictly out of risk management I’m shipping it on down the road.
Bought to Close BIIB OCT 26 2018 295.0/345.0 Strangle @ 3.13 (sod for 5.20)
My watchlist is a sea of red but there are surprisingly some regular stocks (not volatility) that are green…
AMBA
BIIB
CMG
PM
RTN
T
TSLA
WHR
#ShortPuts #IRA – Getting down into levels where I definitely wouldn’t mind owning some. Adding to the ladder…
Sold TNA DEC 21 2018 50.0 Put @ 2.50
#ShortPuts #IRA – Sold TQQQ Jan 18 2019 40.0 Put @ 2.50
#Futures – Got excited and had to share. Took 19 points out of the NQ futures in my first live money try using the Theo Trade strategy. Just played the tiny bounce off 7100…
#Earnings #ShortStrangles – Just going with one in case I have to manage it for awhile. Based on Jeff’s data (BTW…which I love what he’s doing with those posts…thank you!!) selling near the max move.
Sold BIIB OCT 26 2018 295.0/345.0 Strangle @ 5.20
#LongCalls #LEAPS – With biotech in the dumpster any 2020 positions I don’t mind keeping are in a perfect position to roll to 2021 for minimal cost.
Rolled XBI JAN 17 2020 97.0 Calls to JAN 15 2021 97.0 Calls @ 3.70 debit
#LongPuts #LEAPS #ShortCalls – Setting up for next week. Selling weekly strangles against my long LEAP puts. Less calls than puts for safety.
Sold UVXY NOV 2 2018 70.0 Call @ 2.35
#LongCalls #LEAPS – Nice start to the week…
Bought to Close AMBA OCT 26 2018 39.5 Calls @ .05 (sold for .55)
Sold AMBA NOV 9 2018 36.0 Calls @ .62
#LongPuts #LEAPS #ShortCalls – Selling the crap out of this before it eventually implodes. Selling weekly strangles against my long LEAP puts.
Bought to Close UVXY OCT 19 2018 50.0 Puts @ .05 (sold for 2.35)
Sold UVXY OCT 26 2018 51.0 Puts @ 2.10
#LongCalls #LEAPS #BullPutSpreads – Weeklies against various positions. Missed this morning where these could’ve all done better but taking what I can get.
LABU:
Bought to Close LABU NOV 2 2018 95.0 Calls @ .05 (sold for 1.35)
Sold LABU OCT 26 2018 70.0 Calls @ 1.31
OLED:
Bought to Close OLED OCT 26 2018 130.0 Call @ .10 (sold for 1.30)
Sold OLED OCT 26 2018 117.0 Call @ 1.20
XBI:
Bought to Close XBI NOV 2 2018 95.0 Calls @ .05 (sold for 1.10)
Sold XBI NOV 2 2018 89.0 Calls @ .76
#ShortCalls #BullPutSpreads – Selling against ITM put spreads. Closing it now since this thing could be up 30 tomorrow….you never know.
Bought REGN OCT 19 2018 415.0 Calls @ .12 (sold for 1.65)
Sold REGN OCT 26 2018 415.0 Call @ 1.40
#LongCalls #LEAPS – I’ll be out all day tomorrow so have to take care of some of this earlier than I wanted to. But….this was still a fat finger trade on the buy. 😦 😦
Bought to Close TNA OCT 19 2018 70.0 Calls @ .63 (sold for 1.68)
Sold TNA OCT 26 2018 70.0 Calls @ 1.97
#Shortputs #IRA – Another one bouncing nicely after earnings. Got a decent fill so booking it. Plenty of cash freed up now for other opportunities…
Bought to Close ADS JAN 18 2019 180.0 Put @ 1.90 (sold for 5.30)
#ShortPuts #IRA – This is one I’ve been debating about. Since last two earnings haven’t gone all that great I’ve decided to book it since it’s a slightly larger position than I normally do. Maybe they can disappoint again and I can re-sell.
Bought to Close T JAN 18 2019 30.0 Put @ .53 (sold for 1.59)
#ShortPuts #IRA – Nice earnings bounce running up to resistance. Gotta book it and see who the next earnings implosion will be.
Bought to Close PM DEC 21 2018 75.0 Put @ .46 (sold for 2.60)
Bought to Close PM JAN 18 2019 75.0 Put @ .72 (sold for 2.87)
#LongCalls #LEAPS – I’ll wait for a confirmation of the earnings date before the next sale…
Bought to Close WYNN OCT 19 2018 123.0 Calls @ .05 (sold for 1.07)
#ShortPuts #IRA – Adding to a Jan ladder….
Sold TNA JAN 18 2019 55.0 Put @ 2.50
#LongPuts #LEAPS – Selling shorter term calls against shorter term puts which were sold against long LEAP puts….whew! Since I’d like to see UVXY hold it’s head up as long as possible (is a year too much to ask? 🙂 ) I’ll be selling against recent highs.
Sold UVXY OCT 26 2018 60.0 Call @ 2.00
Sold UVXY NOV 16 2018 70.0 Call @ 3.40
#ShortPuts #IRA – Nice run for both of these off their lows so freeing up some ammo and booking most of the gains early.
Bought to Close EWZ JAN 18 2019 28.0 Put @ .16 (sold for 1.87)
Bought to Close EWZ JAN 18 2019 29.0 Put @ .21 (sold for 2.24)
Bought to Close EWZ JAN 18 2019 30.0 Put @ .31 (sold for 2.10)
Bought to Close EWZ JAN 18 2019 35.0 Put @ 1.04 (sold in the money for 4.46)
Bought to Close TUR FEB 15 2019 16.0 Puts @ .20 (sold for 1.21)
#ShortCalls – If I can get that much of it in less than a week I’ll take it…
Bought to Close UVXY DEC 21 2018 95.0 Call @ 3.19 (sold for 8.25 last Thursday)
#LongCalls #LEAPS – Going back in for the 5th time. Been good to me so far. With earnings approaching I may be able to cover nearly 20 percent of the cost in the first two weeks. 40 percent starter size. Same as always…non ratio to start out and will roll at zero deltas. Zero deltas a second time I’ll be looking to book the quickie.
Bought BABA JAN 15 2021 150.0 Calls @ 33.25
Sold BABA OCT 26 2018 150.0 Calls @ 2.20
#LongCalls #LEAPS – I sold this one but forgot about possible earnings. This company is pretty reliable with their dates so taking this one off and will re-sell after they announce the date.
Bought to Close AMAT NOV 16 2018 37.0 Calls @ .55 (sold for .54)
#LongCalls #LEAPS – This one was sold in earnings week. The big drop is letting me out so taking it off with partial profit. I’ll look to possibly sell again prior to the announcement.
Bought to Close PYPL OCT 19 2018 85.0 Calls @ .32 (sold for .72)
#ShortStrangles – Dropping slightly with news of some buyout. Taking a shot at a little strangle in the week prior to earnings.
Sold TWLO NOV 2 2018 60.0/80.0 Strangles @ 2.06
#ShortCalls – One small sale against some put spreads. Looking to add one more on a bounce and staying just prior to earnings. Other than that, a slow day.
Sold REGN NOV 2 2018 410.0 Call @ 2.50
#ShortPuts #IRA – Booking 40 percent of an EWZ position to make room for an aggressive TNA position.
Bought to Close EWZ DEC 21 2018 30.0 Puts @ .34 (sold for 2.02)
Sold TNA DEC 21 2018 70.0 Put @ 8.40
#LongCalls #LEAPS – Sold SMH OCT 26 2018 101.0 Calls @ .65
#LongCalls #LEAPS – Boring but continuing to chip away at it…
Bought to Close AMAT NOV 2 2018 40.0 Calls @ .05 (sold for .53)
Sold AMAT NOV 2 2018 36.0 Calls @ .40
Sold AMAT NOV 16 2018 37.0 Calls @ .54
#LongCalls #LEAPS – This is probably as good a time as any to take starter positions in these. I think I can recover a good chunk of the cost selling down here while the chart recovers. Hopefully a grind around below resistance for a few weeks. LEAPS out to 2021 so these should be good in the long run.
Bought TNA JAN 15 2021 70.0 Calls @ 18.25
Sold TNA OCT 19 2018 70.0 Calls @ 1.68
Bought TQQQ JAN 15 2021 60.0 Calls @ 19.00
Sold TQQQ OCT 26 2018 60.0 Calls @ 1.70
#ShortCalls – Bought to Close OLED OCT 19 2018 130.0 Call @ .05 (sold for 2.05)
#CoveredCalls – Did pretty good overall in containing my whipsaw risk. Only problem is the big recovery in WTW. I got a little too aggressive yesterday selling the next batch of covered calls to help with downside protection. I sure didn’t see this kind of bounce coming.
Covering the overwriting now strictly for risk protection in the event rally mode continues next week…
Bought to Close WTW OCT 12 2018 68.0 Calls @ .25 (sold for 1.89)
#LongCalls #LongPuts #LEAPS #VXXGame – In and out all day but manged to squeeze in a few trades….
AMAT: Added last of the long LEAPS reducing basis.
Bought to Close AMAT OCT 26 2018 41.0 Calls @ .02 (sold for .43)
Bought AMAT JAN 17 2020 50.0 Calls @ 1.15
DG:
Bought to Close DG OCT 19 2018 112.0 Calls @ .05 (sold for .65)
Sold DG NOV 2 2018 108.0 Calls @ .85
DUST: Nice drop today. Luckily ratio’d at 2×7. Rolling the short puts down and out. Long puts working nicely.
Rolled DUST OCT 12 2018 37.0 Put to DUST NOV 16 2018 35.0 Put @ even
OLED:
Sold OLED OCT 26 2018 120.0 Call @ 1.20
PYPL:
Sold PYPL OCT 26 2018 82.0 Calls @ .94
SMH:
Bought to Close SMH OCT 26 2018 108.0 Calls @ .06 (sold for .95)
TLT: Getting out of the way a little with my triple size position. One winner one loser with a net winner.
Bought to Close TLT NOV 2 2018 118.0 Calls @ .15 (sold for .44) .29 gain
Bought to Close TLT NOV 9 2018 116.5 Calls @ .64(sold for .47) .17 loss
UVXY: Haven’t sold these naked very often since Aug 2015 🙂 Sometimes it’s too good to pass up.
Sold UVXY DEC 21 2018 95.0 Call @ 8.25
#ShortPuts – Same strike for better premium….
Sold TNA JAN 18 2019 60.0 Put @ 4.00
#Hedge – I didn’t think this would pay until the election. It may do better but I’m booking it while it’s nice and green.
Sold 10 VIX Nov 11/13/17/21 double verticals @ .56 (bought for .10)
Actually left the long 11’s on for maybe a drop…
#ShortPuts #IRA – Adding one here…
Sold TNA JAN 18 2019 60.0 Put @ 3.05
#CoveredCalls – Continuing to sell these around my breakeven level….
Sold WTW OCT 26 2018 65.0 Calls @ 2.15
#PerpetualRollingStrangles – Adding another batch with stops on the others.
Sold TLT NOV 16 2018 117.0 Calls @ .40
#LongCalls #LEAPS – Earnings next week. Would like a bounce of some sort to sell more there.
Bought to Close PYPL OCT 19 2018 92.0 Calls @ .05 (sold for .62)
#SyntheticStock – This is the last of my old positions that’s been stuck in limbo. It’s synthetic stock out to 2020 but weekly short calls have been buried DITM for weeks with no relief in site. The position needed a yuuuge move one way or the other and it hasn’t happened. It still could but I’m wasting time waiting. Doing an extreme repair trade here but also improving my cash position and allowing the weeklies to be sold again.
Closed the 400/400/390 synthetic taking an 11.15 loss
Closed the ITM short calls and rolled them….
Rolled them to a Jan 2021 ITM bull put spread for 4.85 debit.
So what now?
I can resume safely selling weekly calls against the position. The BuPS uses zero cash and just a small amount of margin but I’m also giving up any chance of huge profits (or losses!). Strictly a repair trade so as I sell weeklies and book them I plan on using that cash to gradually roll the wings of the BuPS in. At some point I hope to have it pretty narrow and be able to get out at a scratch.
Of course I still would like to see the stock go up but a drop isn’t the end of the world since it’s all defined risk.
I’ll calculate the final numbers tonight to see exactly where I stand but that’s the basic plan.
So:
Sold REGN OCT 19 2018 415.0 Calls @ 1.65
With 5 wide strikes on the bottom end of the BuPS I should be able to move those up one strike with each successful weekly sale.
#LongCalls #LEAPS – Adding another long scaling in to reduce basis…
Bought XBI JAN 17 2020 97.0 Call @ 7.40
First buy was at 11.25 and added a couple times since then. Along with weekly sales basis is already down to 8.23 in one month…
#LongCalls #LEAPS – Closed and sold new…
Bought to Close PYPL OCT 12 2018 85.0 Calls @ .03 (sold for .51)
Sold PYPL OCT 19 2018 85.0 Calls @ .65
#LongCalls #LEAPS – Let’s see if she can bounce….selling at the expected move.
Sold LABU NOV 9 2018 90.0 Call @ 1.70
Sold LABU NOV 9 2018 90.0 Call @ 1.75
#LongCalls #LEAPS – Plugging away…
Bought to Close AMBA OCT 12 2018 38.5 Calls @ .05 (sold for .60)
Sold AMBA NOV 2 2018 38.0 Calls @ .50
Basis now reduced from 7.45 to 3.38 on a 2020 LEAPS position…
#PerpetualRollingStrangles – Taking off a third of my triple size sales against the put side…
Bought to Close TLT OCT 26 2018 119.0 Calls @ .03 (sold for .40)
#ShortPuts – Adding one Dec to go with Nov and Feb positions…
Sold SOXL Dec 21 2018 90.0 Put @ 4.10
#LongCalls #LEAPS – Weekly hedges just about out of juice and earnings next week. I’d prefer a bounce before selling anything but just in case throwing on a 30 percent size sale for next week anyway. I’ll add a little more if we get a bounce into the announcement.
Sold PYPL OCT 19 2018 85.0 Calls @ .77
#LongCalls #LEAPS – Overall a crummy day but the volatility is making rolling easier. Booked a couple of winners as well. Keeping all new sales prior to any earnings…
AZO:
Rolled AZO OCT 19 2018 720.0 Call to NOV 2 2018 722.5 Call @ .20 credit
EWZ:
Rolled EWZ OCT 26 2018 35.0 Calls to NOV 9 2018 35.5 Calls @ .02 credit
GLD:
Adding with stops set on nearly worthless current weekly sales.
Sold GLD NOV 9 2018 115.0 Calls @ .58
OLED:
Adding…selling against longer tern bull put spreads.
Sold OLED OCT 26 2018 130.0 Call @ 1.30
SMH:
Bought to Close SMH OCT 12 2018 108.0 Calls @ .02 (sold for .85)
Sold SMH NOV 9 2018 106.0 Calls @ .97
WYNN:
Bought to Close WYNN OCT 12 2018 130.0 Calls @ .05 (sold for 1.48)
Sold WYNN OCT 19 2018 123.0 Calls @ 1.07
XBI:
Sold XBI NOV 9 2018 94.0 Calls @ 1.14
#ShortPuts #IRA – Adding to my ladder in Dec…
Sold TQQQ DEC 21 2018 55.0 Put @ 3.30
Sold TQQQ DEC 21 2018 50.0 Put @ 2.30
#CoveredCalls – Right down to the wire. Took the stock with a basis near 80 but aggressive weekly selling has kept the position at near even all the way down.
Bought to Close WTW OCT 5 2018 68.0 Calls @ .39 (sold for 3.23)
Sold WTW OCT 12 2018 68.0 Calls @ 1.89
That’s it for my week. Have a great weekend everyone!
#LongCalls #LEAPS – Double selling the weeklies here also. Stops set on previous positions at 50-75 percent of max gain. Adding again prior to earnings and selling up in congestion.
Sold PYPL OCT 12 2018 85.0 Calls @ .51
#PerpetualRollingStrangles – On the last pop in TLT I bought a bunch of disaster puts to help out with the DITM short puts. I’m rolling them down a couple strikes to insure a double on the position but leaving the rest on for a free shot at more downside. Was tempted to close it all for a 5 bagger but prefer leaving some protection on.
Rolled 20 TLT NOV 16 2018 110.0 Puts to NOV 16 2018 108.0 Puts @ .33 credit (bought for .15)
#BearCallSpreads – Added to yesterday’s starter…
Sold UVXY NOV 2 2018 45.0/55.0 Bear Call Spreads @ 1.92
#PerpetualRollingStrangles – Triple selling these against the DITM puts. Last two batches of short calls are very profitable with stops set so adding another.
Sold TLT NOV 9 2018 116.5 Calls @ .47
#LongCalls #LEAPS – And finally….adding, booking, and selling.
Bought XBI JAN 17 2020 97.0 Call @ 8.35 (adding)
Bought to Close XBI OCT 12 2018 97.0 Calls @ .05 (sold for 1.07)
Sold XBI NOV 2 2018 95.0 Calls @ 1.10 (half ratio)
#LongCalls #LEAPS – My biggest loser today. Got caught a little under ratio’d so need to get some more sales. Giving it plenty of room. I’ll be looking to add to the #LEAPS on another big down day.
Sold LABU NOV 2 2018 95.0 Calls @ 1.35
#LongCalls #LEAPS – Same as AMAT. Current batch profitable so adding new above resistance. I’m banking on the volatility expansion also helping call premium and the overhead resistance to slow down any major rally.
Sold AMBA OCT 26 2018 39.5 Calls @ .55
#LongCalls #LEAPS – Ratio’d and laddered.
Bought to Close AMAT OCT 19 2018 43.0 Calls @ .05 (sold for .41)
Another batch the following week are about 50 percent profitable so I can stop those out at even if it rallies. Selling another batch the week after. Should all be prior to earnings.
Sold AMAT NOV 2 2018 40.0 Calls @ .53
#BearCallSpreads – Selling a few more…
Sold UVXY NOV 2 2018 45.0/55.0 Bear Call Spreads @ 1.22
I sell a couple little UVXY call spreads and go work for a few hours and the world comes to an end….oops! Just getting the computer turned on now.
#LongCalls #LEAPS – Starter position out in 2021. Earnings still a few weeks away and leaving room to add. Always decent premium in this one.
Bought WYNN JAN 15 2021 130.0 Calls @ 26.85
Sold WYNN OCT 12 2018 130.0 Calls @ 1.48
#BearCallSpreads – Take your best shot Mr. Market…
Sold UVXY OCT 19 2018 40.0/45.0 Bear Call Spreads @ .55
#ShortPuts #LongPuts #ShortCalls – Yes I am still in this. Short DITM puts out in Jan 2020. In the meantime trading around it. On the last spike bought a double size batch of disaster puts where the overall position would actually make more if the stock went to zero. With the stock making a big beautiful double bottom today I’m taking some nice gains on the long puts.
Sold to Close 10 AAOI JAN 17 2020 22.5 Puts @ 5.35 (bought for 2.35)
Taking some of those profits and buying shorter term disaster puts to get through next earnings and a possible confirmation of today’s bounce. I’ll decide what to do with these after earnings. Hopefully the stock will bounce and I can close these new ones for the residual value and maybe reload on the next top.
Bought to Open 10 AAOI JAN 18 2019 20.0 Puts @ 1.35
Pocketing the 1.65 gain for now which equates to a 3.30 basis improvement on the DITM puts.
Whew!
#LongCalls #LEAPS – These were stuck in non-ratio’d limbo for a long time but finally looking better. Rolling the LEAPS out to 2021 for a small debit. Well worth the extra year of selling against them.
Rolled EWZ JAN 17 2020 40.0 Calls to JAN 15 2021 40.0 Calls @ 1.55 debit
And:
Sold EWZ OCT 26 2018 40.0 Calls @ .63
#PerpetualRollingStrangles – Still plugging away on this one. Put side rolled out and down to 2020 and selling the weeklies against those. Been a nice solid performer considering it was an experiment started nearly 3 years ago…LOL
Bought to Close TLT OCT 5 2018 119.0 Calls @ .01 (sold for .43)
Sold TLT NOV 2 2018 118.0 Calls @ .44
#LongCalls #LEAPS – Gonna be a long grind on this one out to 2021. Off to a good start. Triple selling these up near the all time highs. Staying in expirations prior to earnings.
Bought to Close DG OCT 12 2018 113.0 Calls @ .05 (sold for .60)
Sold DG OCT 26 2018 110.0 Calls @ .75
Options Bistro 