#ShortPuts #IRA – Adding one at lowest available strike.
Sold SOXL NOV 16 2018 65.0 Put @ 3.20
Author Archives: fuzzballl
UVXY
#BearCallSpreads – Sold UVXY JAN 18 2019 20.0/30.0 Bear Call Spreads @ .91
NVDA
#LongCalls #LEAPS – Doing a cautious roll down this week for a possible double dip…
Rolled NVDA JUN 29 2018 260.0 Calls to JUN 29 2018 250.0 Calls @ .90 credit (3.62 total now)
CELG
#CoveredCalls #IRA – Sold CELG JAN 18 2019 95.0 Calls @ 2.46
CELG
#LongCalls – Almost a scratch…replacing this week’s expiration.
Sold CELG JUN 29 2018 81.0/85.0 Bear Call Spreads @ .34
AMBA
#LongCalls #LEAPS – Replacing this week’s expiration. Selling 4×5 ratio…
Sold AMBA JUN 29 2018 44.0 Calls @ .67
FAS
#LongCalls #LEAPS – Same as TQQQ. LEAPS sale price got hit so booking it. I’ll wait and see if weekly 67’s expire (it’s close). I’ve got FAS in three different accounts. I will definitely reset this one to be able to sell weeklies thru bank earnings.
Sold to Close FAS JAN 17 2020 62.0 Calls
All said and done booking 2.53 on a 5 lot. Had zero basis reduction in this one. Fought the short calls the entire time. Perfect time to reset…
TQQQ
#LongCalls #LEAPS – This thing is right up near all time highs and my short calls are (finally) out of trouble. The LEAPS roll up strateegery functioned perfectly here unlocking the profit by getting the short calls out of the way. I’ll take the weekend to decide what to do next….might jump right back in!…LOL
Part of the reason to close this is I had a wild price set to sell the LEAPS (about 75 cents above the mid) and it got filled so closed the short calls that were right ATM.
Sold to Close TQQQ JAN 17 2020 60.0 Calls
Bought to Close TQQQ JUN 22 2018 61.5 Calls
All said and done booking 2.40 per contract on a 10 lot. That’s the second round trip in this thing. Yearly gains pushing 6.00 in the ticker. It’s a fun one!
DG
#ShortPuts – Leftovers from an earnings trade. I’m booking it with DG up near a double top. Still long with 2019 LEAPS in another position.
Bought to Close DG JUL 13 2018 94.0 Puts @ .45 (sold for 1.95)
TSLA
#LongLEAPStraddles – On the little bounce got the puts rolled and the new call sold. Unfortunately was very aggressive on the put sales but they are pretty easy to roll while storing some nice premium.
Rolled TSLA JUN 22 2018 367.5 Put to JUL 6 2018 360.0 Put @ .85 debit (total premium now 14.55)
Rolled TSLA JUN 22 2018 350.0 Put to JUN 29 2018 345.0 Put @ 1.90 credit (total premium now 10.45)
Selling against wide bear put spreads in 2020. To give it some more downside breathing room I’m closing one of the shorts in 2020 at a small profit. Will do the same on the call side if we pull back a little further.
Bought to Close TSLA JAN 17 2020 200.0 Put @ 29.60 (sold for 31.52) This becomes part of the basis now…
And finally:
Sold TSLA JUN 29 2018 360.0 Call @ 3.15
TSLA
#LongLEAPStraddles – I’ll be rolling some puts and re-selling this call later today…
Bought to Close TSLA JUN 22 2018 370.0 Call @ .05 (sold for 3.00)
Russell Rebalance
Friday will likely be the year’s biggest stock market volume day with big action in Apple, JP Morgan –
https://www.cnbc.com/2018/06/22/russell-rebalance-will-make-friday-the-years-biggest-stock-volume-day.html
LABU
#LongCalls #LEAPS – I’ll jump in this with you guys. Premiums great so can’t get hurt too bad even with that big ‘ol red bar today. 40 percent size here for a starter.
Bought LABU JAN 17 2020 110.0 Calls @ 31.00
Sold LABU JUN 29 2018 112.0 Calls @ 2.45
Payoff by Jan 2019 and Jan 2020 is .98/.25
Playing this as my standard entry for first two weeks. Sell max calls and roll if negative deltas are reached. If negative deltas reached a second time then book it.
EWZ
#ShortPuts #IRA – Thanks @tabortrader for the reminder. Adding to my ladders…
Sold EWZ DEC 21 2018 30.0 Put @ 2.51
Sold EWZ JAN 18 2019 29.0 Put @ 2.24
Sold EWZ JAN 18 2019 28.0 Put @ 1.87
UVXY
#BearCallSpreads – Sold UVXY JAN 18 2019 15.0/25.0 Bear Call Spreads @ .99
AMAT
#LongCalls #LEAPS – I’ll jump in this with you guys. Premiums decent and earnings not until mid August.
Bought AMAT JAN 17 2020 50.0 Calls @ 7.70
Sold AMAT JUN 29 2018 50.0 Calls @ .49
Payoff by Jan 2019 and Jan 2020 is .25/.09
Playing this as my standard entry for first two weeks. Sell max calls and roll if negative deltas are reached. If negative deltas reached a second time then book it.
ADSK
#ShortStrangles – One of two positions in this one. Selling short term calls against long term short puts. A welcome pullback today for a nice roll. Earnings not until late August…
Rolled ADSK JUN 22 2018 135.0 Calls to JUL 20 2018 139.0 Calls @ even
GLD
#LongCalls #LEAPS – Been in it awhile and not a fan. Breakeven is the goal here. Selling carefully at about a 70 percent ratio to the long LEAP calls. Been caught in a couple whipsaws in this thing already…
Bought to Close GLD JUN 22 2018 122.5 Calls @ .01 (sold for .32)
Sold GLD JUL 6 2018 121.5 Calls @ .49
Adding disaster puts? Hmmmm….
Something my brother came up with that seems interesting. Ticker isn’t important or the length of trade or the strikes. The point of the exercise is the curve on the graph during an implosion. Adding disaster puts only adds a few pennies to weekly sales required on these 2020 positions while practically eliminating long term downside risk. This example is FAS buying LEAPS slightly ITM and disaster puts 20 percent below the current stock price.
You can play with the numbers and strikes to get a suitable position. I’m kinda liking the disaster puts idea though…
FB
#LongPuts #LongCalls #LongLEAPStraddles #PureProfit – I have no idea how this stock can be so high. I’m not a fan but I will trade it. Working both sides…
Puts:
Bought to Close FB JUN 22 2018 192.5 Puts @ .17 (sold for 5.60)
Out of the 5.60 the last 1.70 becomes #PureProfit in the position. The cost of the LEAP puts has been recovered now. On a 5 lot this should generate some nice income. With earnings coming in late July I’ll continue to sell aggressively.
Sold FB JUN 29 2018 200.0/180.0 Bull Put Spreads @ 2.30 credit. (I expect this to take some heat but that’s alright with call side needing a little pullback).
Calls:
Obviously difficult to stay up with the stock rise on the call side. Using my strategy of rolling up the LEAPS to finance the weekly call roll. This roll is out to just before earnings. Next roll can then be into the high IV of earnings…
Rolled FB JAN 18 2019 180.0 Calls to JAN 18 2019 190.0 Calls @ 6.85 credit
Rolled FB JUN 22 2018 177.5 Calls to JUL 13 2018 185.0 Calls @ 6.57 debit
OLED
#SyntheticStock – Just about the last of my old synthetic stock positions. Out to 2019 needing .95 per week to scratch. As this winds down I may add to the 2020 position. Still liking the premium in this.
Bought to Close OLED JUN 22 2018 98.0 Calls @ .05 (sold for 1.15)
Sold OLED JUN 29 2018 92.5 Calls @ 1.15
UPRO
#ShortPuts #IRA – First time in this one so selling some conservative positions. Hopefully can add on more of a pullback.
Sold UPRO DEC 21 2018 35.0 Put @ 1.66
Sold UPRO DEC 21 2018 30.0 Put @ 1.05
Sold UPRO JAN 18 2019 35.0 Put @ 1.99
Sold UPRO JAN 18 2019 30.0 Put @ 1.25
EDIT for ticker symbol. Was borrowing a copy/paste from OLED…LOL
OLED
#LongCalls #LEAPS – Couple positions in this thing. These are sold against the 2020’s. Goal here is 74 cents per week to have LEAPS covered with a year to go…
Bought to Close OLED JUN 22 2018 100.0 Calls @ .05 (sold for 1.25)
Sold OLED JUN 29 2018 94.0 Calls @ 1.00
SOXL
#ShortPuts #IRA – Throwing one out there for a starter…
Sold SOXL NOV 16 2018 90.0 Put @ 5.10
Expirations…
#OptionsExpiration – Had a few this week….
CELG 80/85 BeCS (sold for .45)
EWW 45.5 Calls (sold for .49)
GLD 123.5 Calls (sold for 1.00)
OLED 99.5 Calls (sold for 1.20)
RH 94/120/122 JadLiz (scratched out .22 profit)
FAS
#LongCalls #LEAPS – This morning it looked like I might get the nice surprise of the weekly expiring. Not gonna happen so have to take the roll. Picking up a buck of upside.
Rolled FAS JUN 15 2018 66.0 Calls to JUN 22 2018 67.0 Calls @ .02 credit
TNA
#LongCalls #LEAPS -Another position where the weeklies got annihilated. Set this one up prior to our unbalanced strategy. The LEAPS have about 13 dollars of profit in them that I’d like to keep as much of as possible.
Small adjustment to get the weekly call sales a little more rollable. This does give up some downside protection but preserves the potential gains already in the LEAPS. Rolling LEAPS up to finance a rollup of the weekly calls. You could look at this as closing a winner and resetting but I still consider the same trade until completely closed.
I don’t do this often but it worked great in an AMZN position last year…
Rolled TNA JAN 17 2020 70.0 Calls to JAN 17 2020 80.0 Calls @ 5.63 credit
Rolled TNA JUL 20 2018 75.0 Calls to JUL 20 2018 81.0 Calls @ 5.27 debit
LEAPS rolled up 10 but was only able to roll weeklies up 6. That’s ok though….pocketed some cash and accomplished the goal of getting the weeklies back in play. Hopefully roll them again next time and get them out of trouble. Get rid of them eventually and get the full profit out of the LEAPS.
AZO
#LongCalls #LEAPS – Thought about rolling the LEAP up to help roll the weekly higher but just going out a month instead to see if it continues up. Rolling the weekly up 10 points.
Rolled AZO JUN 15 2018 650.0 Call to JUL 20 2018 660.0 Call @ .01 credit
UVXY
#BearCallSpreads – Adding to December. Already short the 20/30 @ .85
Sold UVXY DEC 21 2018 15.0/25.0 Bear Call Spreads @ .84
RTN
#LongCalls #LEAPS -Long way to go on this one. If the 200ma doesn’t hold I’ll roll all my sales down there. For now selling cautiously…
Bought to Close RTN JUN 22 2018 217.5 Calls @ .05 (sold for 1.25)
Sold RTN JUN 29 2018 207.5 Calls @ .73 (75 percent size)
CELG
#LongCalls – Almost a scratch…replacing this week’s expiration.
Sold CELG JUN 22 2018 80.5/84.5 Bear Call Spreads @ .30
TSLA
GLD
#LongCalls #LEAPS -Replacing this week’s expiration. Was so close to getting out of this one. Haven’t liked it from the beginning. On the bright side only need 16 cents per week to scratch….
Sold GLD JUN 22 2018 122.5 Calls @ .32
OLED
#LongCalls #LEAPS – Replacing this week’s expiration…
Sold OLED JUN 22 2018 98.0 Calls @ 1.15
EWW
#LongCalls #LEAPS – Replacing this week’s expiration…just killing time collecting min required until (if) this thing reverses.
Sold EWW JUN 29 2018 45.5 Calls @ .28
AMBA
#LongCalls #LEAPS -Slowly but surely. Selling just enough to be covered a year early…
Bought to Close AMBA JUN 15 2018 44.5 Calls @ .05 (sold for .85)
Sold AMBA JUN 22 2018 44.0 Calls @ .55 (adding one call but still only 80 percent size)
TSLA
RH Earnings
Bought to Close RH JUN 15 2018 120.0/122.0 Bear Call Spread @ 1.90
Jade Lizard call side. Getting filled on this instead of taking max loss adds a dime to the bottom line. Max profit now .22 instead of .12.
One of two to go so not sure if it’ll get hit or not…should buy a case of my cheap beer!
EWZ
#LongCalls #LEAPS – Scaling back my selling to just what I need to cover the LEAPS until this thing gets it’s feet back under it. No hurry…
Bought to Close EWZ JUN 22 2018 35.5 Calls @ .05 (sold for .42)
Sold EWZ JUN 29 2018 35.0 Calls @ .21
UVXY
#BearCallSpreads – I usually try to close these at .06 but not waiting until Sep for another 8 cents. Frees up margin to sell aggressively on the next spike.
Bought to Close UVXY SEP 21 2018 30.0/40.0 Bear Call Spreads @ .14 (sold for 1.20)
TSLA 93 target
https://thefly.com/landingPageNews.php?id=2745029&headline=TSLA-Tesla-Model–reservation-cancellation-rate-is–says-Vertical-Group
TQQQ
#LongCalls #LEAPS – Small adjustment to get the weekly call sales a little more rollable. This does give up some downside protection but preserves the potential gains already in the LEAPS. Rolling LEAPS up to finance a rollup of the weekly calls. You could look at this as closing a winner and resetting but I still consider the same trade until completely closed.
I don’t do this often but it worked great in an AMZN position last year…
Rolled TQQQ JAN 17 2020 55.0 Calls to 60.0 Calls @ 2.50 credit
Rolled TQQQ JUN 22 2018 58.33 Calls to Jun 22 61.5 Calls @ 2.50 debit
Pocketed a little cash since the short calls were smaller size. Goal is to roll them again next week and hopefully out of trouble. Get rid of them eventually and get the full profit out of the LEAPS.
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Managing the put side today…
Bought to Close TSLA JUN 15 2018 325.0 Puts @ .65 (sold for 17.00)
Sold TSLA JUN 22 2018 335.0 Puts @ 5.50
EWZ
#ShortPuts #IRA – Moving out into Jan for next sales…
Sold EWZ JAN 18 2019 35.0 Put @ 4.46
Sold EWZ JAN 18 2019 3o.0 Put @ 2.10
RH Earnings
#Earnings – This thing just looks way overbought here. Taking a shot with a #JadeLizard with no upside risk while giving it some downside room. Thanks @Jeff for the data on this. Staying small here…
Sold RH JUN 15 2018 94.0 Puts @ 1.37
Sold RH JUN 15 2018 120.0/122.0 Bear Call Spreads @ .75
Total credit 2.12 with 2.00 of upside risk. Breakeven of 91.88 to the downside which is about 10 dollars more than the expected move.
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – On the subject of TSLA….a few adjustments here playing both sides.
Put side:
Been rolling this week’s short puts aggressively up to at or slightly in the money. Currently short two 325 strike puts for Friday @ 17.00 total premium. This will have 38.20 of the original 64.60 purchase covered with 2020 still a few weeks away 🙂 .
Call side:
Had been rolling weeklies out and up to try to stay out of the way. Today since it looks like TSLA could possibly close above the 200ma I bought to close one of the two weekly calls at 30.00. This gives much better upside now. At some point I can re-sell that call or take it out of the massive put premium received so far. Or…could just add it back in to the LEAPS basis on the call side. I’m leaning towards that since the call side basis had already been reduced by 12 dollars (34 down to 22) with 83 weeks still to run.
Since both sides of the LEAPS were spreads (2 each) I’m considering only selling one weekly against those from now on. This will give much better profit potential in either direction with plenty of time to easily recover the original cost.
CELG
#LongCalls #LEAPS – Still trying to work this back to even…almost there. Replacing Friday’s expiration.
Sold CELG JUN 15 2018 80.0/85.0 Bear Call Spreads @ .45
EWZ
#LongCalls #LEAPS – Early fill this morning…
Bought to Close EWZ JUN 15 2018 37.0 Calls @ .05 (sold for .50)
Sold EWZ JUN 22 2018 35.5 Calls @ .42
OLED
#LongCalls #LEAPS – A slow end to the week. Rolled most stuff earlier. One little trade…
Bought to Close OLED JUN 8 2018 100.0 Calls @ .05 (sold for 1.00)
Sold OLED JUN 15 2018 99.5 Calls @ 1.20
On a side note…played golf last Friday and cost myself 4 figures in my TSLA roll. Out on a weekend motorcycle ride starting yesterday and just missed selling EWZ 35 and 40 ITM puts for the inevitable recovery. I still refuse to watch the market every day…but I might start! LOL
Happy weekend!
LUV
#LongCalls #LEAPS – This was one of my first attempts at this style of trade. With the low weekly premium I’m cutting it loose due to the whipsaw risk vs the potential profit…just not enough premium to sell.
Bought to Close LUV JUN 8 2018 52.0 Calls @ .05
Sold to Close LUV JAN 18 2019 60.0 Calls @ 1.35
Stock moved against me from day 1 but still squeezed out a profit after commissions…LOL. A whopping 8 cents per contract. Better than a loss!
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – 2020 position playing both sides (for now). This early in the trade I can afford to be really aggressive. Put side only needs 1.19 per week to be covered a year early. Call side is just 68 cents.
Bought to Close TSLA JUN 8 2018 292.5 Puts @ .85 (sold for 7.15)
Sold TSLA JUN 15 2018 302.5 Puts @ 6.43
Rolled TSLA JUN 8 2018 292.5 Calls to JUN 15 2018 295.0 Calls @ .40 credit
RTN
#LongCalls #LEAPS – This thing is in a squeeze that could go either way. Selling this new batch a couple weeks out and won’t hesitate to roll if deltas become negative. 2020 position that need 66 cents per week to be covered a year early.
Bought to Close RTN JUN 8 2018 217.5 Calls @ .10 (sold for 1.25)
Sold RTN JUN 22 2018 217.5 Calls @ 1.25
FB
#LongPuts #LongCalls #LongLEAPStraddles – Got aggressive with my last put sale so bringing it back in a little. LEAP puts already paid for so a small debit roll down. The pullback is helping the call side though.
Rolled FB JUN 8 2018 195.0 Puts to FB JUN 22 2018 192.5 Puts @ .53 debit
AMBA
#LongCalls #LEAPS – Booking and selling…
Bought to Close AMBA JUN 8 2018 51.0 Calls @ .05 (sold for 1.60)
Sold AMBA JUN 15 2018 44.5 Calls @ .85
TQQQ
#ShortPuts #IRA – Two month position…booking it. Freeing up some buying power.
Pre-split numbers:
Bought to Close TQQQ SEP 21 2018 80.0 Put @ .75 (sold for 6.50)
WYNN
#IRA – Not quite a falling knife but getting there…
Sold WYNN DEC 21 2018 140.0 Put @ 4.41
Sold WYNN JAN 18 2019 130.0 Put @ 3.30
NKTR
LEAPS 2019, 2020 and beyond….TSLA roll
#LongCalls #LEAPS – Now that we’ve got the upside risk to these somewhat contained I gave some thought over the weekend (scary!) about the other risk to these that I’ve noticed concerning the downside and possible whipsaw.
Even with the LEAPS, if the stock has moved against you quite a bit they can pretty quickly start running out of juice to sell against when they get down to the last 6 or 7 months. For instance my LUV 2019 60 strike LEAP calls are already down to 1.60 with 7 months still to run. Eventually these positions reach a point where the LEAPS don’t protect the short calls very much on a big whipsaw even if selling less than a full position.
So…what’s a possible remedy to this? Here’s what I’m planning for the stocks that I don’t mind selling against for the long term. I am going to roll my current LEAP position to the next LEAP as soon as it’s available. The debit is minimal and gives a LEAP to sell against that still offers some upside protection.
Then…think of it this way. Each year you don’t have to sell enough to cover the entire cost of the LEAPS…just enough to cover the cost of the debit roll to the next year when it comes out. Everything beyond that is profit. I feel like longer term the debit roll will be covered very easily and subsequent debit rolls can be taken out of the long term profits and they won’t even be an issue. Also when these rolls are done it will allow any adjustments to be made to the LEAP strike prices if you feel it’s necessary.
Here’s what I did with TSLA this morning. Since I’m wanting to sell against it long term and I’ve already got a 2020 position on the call side I’m rolling my 2019 put side out to 2020. This evens things out and gives another year of selling for a minimal debit.
Rolled TSLA Jan 2019 300/200 BePS to Jan 2020 300/200 BePS @ 8.50 debit.
That’s a small price to pay for an additional year of selling and avoids even the slightest whiff of theta working against the position. When the 2021’s come out in a few months I’ll re-evaluate to see if a roll would help.
FB
#LongPuts #LongCalls #LongLEAPStraddles – A couple trades I didn’t get a chance to post. Similar to TSLA, I’m playing this both directions. I’d like to see a pullback so I’m making a couple very bullish trades…LOL.
Calls:
On the call side adjusting everything up to get the short calls more rollable and back in play. If I can get the short calls to expire at some point the LEAPS have 7.10 gains in them along with another 6.95 of weekly premium so far.
Rolled 170 long LEAPS up to 180 @ 7.10 credit
Rolled 170 short weekly calls up to 177.5 @ 7.15 debit (and rolled out one week to Jun 22nd)
Puts:
Rolled short weekly puts up again. Aggressive roll here to in the money and near all time highs (gulp!)
Rolled 187.5 short puts to 195.0 puts @ 2.17 credit. (total credit on this batch now 6.12)
Of the 6.12 credit on these current short puts the last 2.22 is my first #PureProfit with 32 weeks still to run on a 5 lot…
AMBA
#LongCalls #LEAPS – Earnings next week also…
Bought to Close AMBA JUN 1 2018 51.5 Calls @ .05 (sold for .91) full position
Sold AMBA JUN 8 2018 51.0 Calls @ 1.60 (80 percent size)
TQQQ
#LongCalls #LEAPS – Rolling….since this is only an 80 percent position with no upside risk I can roll but don’t have to go crazy. Picking up a little more upside with some credit also.
Rolled TQQQ JUN 1 2018 56.5 Calls to JUN 8 2018 57.17 Calls @ .13 credit
I like having the oddball strikes now…LOL
AZO
#LongCalls #LEAPS – Rolling out and up…
Rolled AZO JUN 1 2018 642.5 Call to JUN 15 2018 650.0 Call @ 1.74 credit
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Short 292.5 straddles worked pretty good this week so setting it up again for next week. Selling against long LEAPS puts and calls.
Sold TSLA JUN 8 2018 292.5 Calls @ 3.65
Rolled TSLA JUN 1 2018 292.5 Puts to JUN 8 2018 292.5 Puts @ 3.90 credit (7.15 total now)
TSLA
#LongPuts #LongCalls #LongLEAPStraddles – Like Sue, I’m playing this from both sides as well. Late fill here while I was out riding the motorcycle during the close. Great day here in STL!
Bought to Close TSLA JUN 1 2018 292.5 Calls @ .25 (sold for 9.15)
I’ll be looking tomorrow to reset this and address my 292.5 short puts. A nice big morning gap up would help but I have my doubts….now that Teslas are starting up by themselves and then taking off and crashing into stuff. I hate to laugh but it’s almost getting comical. Can’t wait to see what Grasso has to say. He’s been buying the dip since 310 I think.
http://fortune.com/2018/05/31/tesla-brussels-autopilot-crash/
AMBA
#LongCalls #LEAPS – Interesting characteristic I’ve noticed about these risk analysis charts….this one is AMBA where I’m evaluating my options for next week (earnings).
If you change the strike price on the next sale the entire curve moves vertically up and and down with no change in the curve itself. The big factor for changing the chart is the number of weeklies sold. TOS is great for setting this up and then manipulating the numbers on the potential trades and seeing the exact effect.
These 3 charts are selling 3, 4, or 5, against a 5 lot with no change in strike price…
FB
#LongPuts #LongCalls #LongLEAPStraddles – Playing both sides here. Been rolling up the puts aggressively the whole way. This last little roll will already completely cover the cost of the long puts leaving 32 more weeks to sell. A pullback (after next week) would be nice…
Rolled FB JUN 8 2018 185.0 Puts to JUN 8 2018 187.5 Puts @ .55 credit (3.95 total now)
The calls have obviously gotten run over. I may roll the long LEAP calls up and use the credit to roll up the weeklies that are ITM. This would still preserve the big gains on the long calls while getting the short calls into a more rollable position.
DG Earnings
Two different positions:
#LongCalls #LEAPS – Booked the original weekly sales and threw on an additional sale hoping for a quick double dip…
Bought to Close DG JUN 1 2018 101.0 Calls @ .02 (sold for .65)
Sold DG JUN 1 2018 92.0 Calls @ .35
#JadeLizard – Original sale was 95/104/106 Jade Lizards @ 2.13.
Closed the call side for .02. Did that mainly for risk reduction when I sold the additional calls above. Still sitting on the short 95 puts with a basis of 92.89. Will probably roll them and then sell additional calls in my LEAPS position above.
LABU
#LongCalls #LEAPS – Nice pop again today and now reaching negative deltas for the second time already even after yesterday’s roll. That’s my signal to book and wait for a pullback.
Sold to Close LABU JAN 17 2020 84.87 Call
Bought to Close LABU JUN 8 2018 92.5 Call
Quick little 10 day trade booking 3.42 per contract. Wish all experiments went like this! Only one contract but I’d say LABU is definitely staying in the watchlist.
EWW
#LongCalls #LEAPS #UnbalancedDiagonal – Book it. Still selling in a quantity that practically eliminates upside risk just in case…
Bought to Close EWW JUN 1 2018 46.0 Calls @ .03 (sold for .50)
Sold EWW JUN 15 2018 45.5 Calls @ .49
DG Earnings
#Earnings before the open tomorrow. I’ve got long LEAPS against 101 strike weeklies. Position makes money up to the expected move then tails off a little after that. Looking for something else to go with it for low risk. Premium isn’t to shabby.
LABU
#LongCalls #LEAPS – Just a one lot experiment since it’s my first time in this ticker. Reaching negative deltas today so rolling out and up a week. I’ll look to close if it gets to negative deltas a second time. I’d book it for a quick 3 or 4 bucks if possible and wait for another pullback to go a little bigger next time.
Rolled LABU JUN 1 2018 90.0 Call to JUN 8 2018 92.5 Calls @ .15 credit
FAS
#LongCalls #LEAPS – It’s days like today where I’m becoming a believer in only selling enough weeklies to rapidly cover the cost of the LEAPS while eliminating upside risk (or most of it). As these weeklies get reset I’m trying to get all my positions setup like this.
Bought to Close FAS JUN 1 2018 67.5 Calls @ .09 (sold for 1.02 full position)
Sold FAS JUN 8 2018 66.0 Calls @ .96 (70 percent)
This position is a 10 lot out to 2020 requiring .42 per week ($420.00). Selling 7 for .96 more than covers that while giving this risk:
SPY SHY TLT and the Golden Butterfly
#401k #LongStock – I tried following a long term plan (The Golden Butterfly) that would probably work but I’ve decided I can do just as well or better selling puts on imploding stocks so I’m dumping these sizable positions while they’re green. Unloaded SPY back on May 18th and now unloading the bond positions on this rally. Freeing up a ton of buying power…
Sold SHY stock @ 83.60 (bought for 83.51)…decent gain since it was a lot of shares…
Sold TLT stock @ 122.12 (bought for 120.74)
ERX
#ShortPuts #IRA – Starter position…
Sold ERX JAN 18 2019 25.0 Puts @ 2.02
UVXY
#BearCallSpreads – Sold UVXY JAN 18 2019 12.0/17.0 Bear Call Spreads @ 1.15
Options Bistro 